TechNavio, the independent tech-focused global research firm, has pinpointed increased demand for big data solutions and a distinct move away from relational databases as the leading drivers behind a projected CAGR of 45.28 percent from 2014-2018 for the Global NoSQL Market.
NoSQL is an advanced database management solution designed to manage the petabytes of data that businesses need to store and access. NoSQL solutions enables easy data accessibility, which helps large enterprises and SMEs achieve their corporate goals and optimize business.
Data is increasingly being gathered from social media, mobile and web apps, which results in large amounts of unstructured data that far outstrips the capabilities of traditional relational databases. Big data solutions like NoSQL can manage complex, unstructured data sets and make this information easily available for enterprises to use in decision making.
According to TechNavio analysts,“in the recent past, many industries have witnessed a shift from the deployment of relational databases to the deployment of NoSQL databases. Organizations are rapidly abandoning legacy relational database systems as they do not meet the work expectations of modern-day developers. Database models using relational database technology depend on strict adherence to a database schema and normalization of data and carry out complex queries.”
Over the last few decades, changes in application and infrastructure characteristics have led application developers to look for alternative database technology, hence the shift towards NoSQL databases.
To determine the scenario for these vendors in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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TechNavio (technavio.com) is a leading technology research and advisory company with a global coverage. We focus on emerging technology trends that can shape the market. We identify and explain these trends to our customers to help them take better decisions.
TechNavio models the trends using a mix of quantitative and qualitative tools in its proprietary research methodologies. We build forecasts across market segments and geographies based on the trends identified. These forecasts and analysis are used to help our customers identify new and existing opportunities in their markets. We also help customers assess their competitive position in a changing market scenario.
TechNavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape of the Global NoSQL Market. Our analysts obtain the information using a combination of the bottom-up and top-down approaches, besides using in-house market modeling tools. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
Decision makers and influencers in sales & marketing, strategy, product and R&D teams rely on research from TechNavio. We have a large and growing base of happy customers worldwide. Our customers include technology suppliers, end users, consulting companies, investment firms and research institutes.
Founded in 2003, TechNavio has about 200 analysts globally. We cover more than 500 technologies across 80 countries. Our analysts are closely monitoring the market every day by talking to all the industry participants. We have proprietary databases that provide us with a complete perspective of the market. TechNavio develops over 2000 pieces of research deliverables every year.