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As the benefits of big data are continuously evolving, the industries are focusing on implementing big data analytics for test and measurement into their organizational structures. The big data analytics for test and measurement can be used to ensure quality maintenance, reduce product development time, and achieve real-time analytics for maintaining the structural health of safety-critical components. The growing mobile access to internet and continuing upsurge in the relevance of social media are some of the other factors, driving the growth of the global big data analytics for test and measurement market. The huge amount of data generated from social media websites, such as Facebook, Whatsapp, and Hangouts in form of pictures, videos, and photos is stored in the cloud, and can be accessed from multiple devices which have internet connectivity.
Big data refers to the growing volume, complexity, velocity, variety, and variability of information. Further, it refers to the challenges, competencies, and capabilities related with analyzing and storing huge sets of data to support accurate and timely decision making. For marketing administrations, big data is the consequence of new marketing landscape, originating from the digital world. Big data analytics is the process of examining big data to reveal hidden patterns, unknown associations, and other useful information that can be used for better management of data. With big data analytics, data scientists and researchers can explore huge volumes of data, which traditional analytics and business intelligence solutions cannot discover.
Due to the extraordinary increase in digital information, the network operators are facing challenges to find ways for addressing network utilization more efficiently. To reduce operating expenditures and capital investments, cloud computing is adopted at a higher prominence than ever before. As network function virtualization (NFV) and software-defined networks (SDN) continue to gain pace, the network equipment manufacturers and network operators require advanced services to test the reliability of their network equipment for big data analytics.
The advancements in internet of things is a significant driver for the growth of the global market. The Internet of Things (IoT) refers to the interconnection of computing devices with the existing internet structure. IoT and big data continue to grow simultaneously; however as the internet of things continue to evolve, the need for big data analytics testing and measurement services continue to upsurge. An opportunity in the big data analytics for test and measurement market lies in the adoption of cloud computing services. As cloud computing services continue to grow, the increase in number of testing and measurements of critical factors of the big data analytics are anticipated to hold large share in the market.
North America accounted for major share in the global market in 2014; and Asia-Pacific is expected to witness high growth in the near future. Spirent Communications, NetScout Systems Inc., Guavus Inc., Gigamon Inc., ASTELLIA S.A., Viavi Solutions Inc., EXFO Inc., Ixia, Empirix, Anritsu Corporation are some of the competitors in the global big data analytics for test and measurement market.
Global Big Data Analytics for Test and Measurement Market Segmentation