Global Big Data Market in the Oil and Gas Sector market, Key Trends, Application Analysis, Regional Outlook & Forecasts to 2016
Big data solutions are the wide range of solutions required for processing and analyzing enterprise data, which are too large for traditional data processing tools to manage. The oil and gas sector generates various types of structured and unstructured data.
The type of data ranges from terabytes (10^12 bytes) to zettabytes (10^21 bytes) in size. Big data solutions are used in the oil and gas sector to provide a fast consolidated view of organization-wide information. Big data solutions also help organizations to improve their operational performance and maximize profitability.
Technavio's analysts forecast the global big data market in the oil and gas sector to grow at a CAGR of 30.67% during the period 2016-2020.
Market challenge
Lack of awareness
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