The Global Big Data Analytics Market was worth more than US$ 160 billion in 2019, the estimated CAGR during 2022 and 2032 is 10.5%.
Rising investment in Internet of Things infrastructure development, expanding enterprise networks, rising complexities of data and advancement in data analytics solutions are the key attributes towards the growth of the global big data analytics market. Big Data refers to high quantity of data generated from distributed devices across industrial, commercial and residential infrastructures.
The big data is generated in high volume, at high velocity, and is highly versatile in nature. This makes it complex to be captured, stored and processed with relational databases with low latency, thereby creating a demand for advanced analytics solutions and services. The quantum of data has increased significantly during past couple of years due to enablement of Internet of Things (IoT) and expanding enterprise network. Companies are focusing on leveraging big data analytics solution to make informed decisions through the processing and analysis of big data generated from different sources with industry network.
Machine learning, natural language processing, data mining, text analytics, predictive analytics and statistics are the major tools used for capturing, managing and analyzing the big data. Additionally, shifting preference towards adoption of distributed processing across clusters of computing devices using simple programming is contributing towards the growth of the global big data analytics market. With increasing process complexities across multiple enterprises and evolving IT ecosystem, the big data is anticipated to increase exponentially in coming years. This is anticipated to fuel the growth of the global big data analytics market during the forecast period.
North America contributed the largest share to the global big data analytics market in 2019 and is anticipated to be a dominating geography throughout the forecast period. The presence of leading big data analytics companies and increasing investment in development of advanced analytics solutions are the key attributes driving the growth of North America big data analytics market. With expanding IoT and IIoT infrastructure and adoption of cloud computing across multiple end use industries is expected to drive the North America big data analytics market during the forecast period. Asia Pacific is anticipated to be the fastest growing market during the forecast period owing to rising adoption of advanced analytics solutions for managing and processing big data generated from industrial, commercial and residential data sources.
Big Data Analytics Market Share Analysis, by Geography (2022)
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The report titled “Big Data Analytics Market - Global Market Share, Trends, Analysis and Forecasts, 2023-2032”, wherein 2021 is historic period, 2022 is the base year, and 2023 to 2032 is forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the global big data analytics market. Furthermore, the report would reflect the key developments, global & regional sales network, business strategies, research & development activities, employee strength, and key executive, for all the major players operating in the market.
The global big data analytics market is segmented based on component, applications, end use industry, and geography. Based on component, the global big data analytics market is segmented into solutions and services. The solution segment is further sub-segmented into packaged software, management software, application software, performance monitoring software, and others. The services segment is further sub-segmented into managed services, consulting & development services, and training & support services. Based on applications, the global big data analytics market is segmented into risk & fraud analytics, internet of things (IoT), merchandising & supply chain analytics, customer analytics, offloading mainframe, security intelligence, operational intelligence, linguistic analytics, and others. Based on end use industry, the global big data analytics market is segmented into IT & telecommunication, BFSI, healthcare, manufacturing, energy & utility, automotive & transportation, retail, government, and others. Based on geography, the global big data analytics market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
The research provides in-depth analysis of prominent players holding majority share of the global market with a focus on all operating business segment and would identify the segment of the company focusing on big data analytics tools and services. Further, market share of prominent companies in the global big data analytics market would also be estimated. the study takes into consideration the key competitive information such as business strategy, product portfolio, key development, swot analysis, and research and development focus of all the big data analytics companies.
The global big data analytics market study would take into consideration the participants engaged throughout the ecosystem of the market, along with their contribution. Product portfolio would focus on all the products under the big data analytics business segment of the company. Similarly, the recent development section would focus on the latest developments of company such as strategic alliances and partnerships, merger and acquisition, new product launched and geographic expansion in the global big data analytics market.
Major players active in the global big data analytics market include Amazon Web Services, Inc., Cloudera, Inc., Hitachi Vantara Corporation, IBM, MarkLogic Corporation, Microsoft, Pivotal Software, Inc., SAP SE, Tableau Software, and Teradata Corporation.
The Global Big Data Analytics Market Is Segmented As Below:
By Component
By Applications
By End Use Industry
Based on Region
The global market for big data analytics will most likely expand at over 10.5% CAGR through 2032.
Rising investment in Internet of Things infrastructure development, expanding enterprise networks, rising complexities of data and advancement in data analytics solutions are the key attributes towards the growth of the global big data analytics market.
The presence of leading big data analytics companies and increasing investment in development of advanced analytics solutions are the key attributes driving the growth of North America big data analytics market.
The global big data analytics market segmented on the basis of component, end use, application and geography.
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