Data – and it’s fast, accurate analysis – is paramount to
success in the digital age. While content held its place for many years, Big Data is the hot new currency. Predictions estimate the global Big Data software market will be worth $31B this year, growing 14% from the previous year. The entire global software market is forecast to be worth $628B in revenue, with $302B from applications. According to an Accenture study, 79% of enterprise executives agree that companies that do not embrace Big Data will lose their competitive position and could face extinction. Even more, 83%, have pursued Big Data projects to seize a competitive edge.
Worldwide Big Data market revenues for software and services are projected to increase from $42B in 2018 to $103B in 2027, attaining a Compound Annual Growth Rate (CAGR) of 10.48%. Traditional methods of collecting and collating behavioural data are reactionary - definitive information that drives decisive action is only available after opportunities have been missed. Foresense Technology is redefining these notions.