iCrowdNewswire Jan 8, 2021 8:17 AM ET
The Big Data Analytics market was valued at US$ 37.34 Bn in 2018 and expected to reach US$ 105.08 Bn by 2027 at a CAGR of 12.3% throughout the forecast period from 2019 to 2027.
Market Insights
“Increasing volume of data and adoption of big data tools to spur revenue growth during the forecast period”
The rapidly increasing volume and complexity of data is due to growing mobile data traffic, cloud-computing traffic and burgeoning development and adoption of technologies including IoT and AI, which is driving the growth of big data analytics market. Over 2.5 quintillion bytes of data generated every day. Data is created by every click, swipe, share, search and stream, proliferating the demand of big data analytics market globally. According to a survey, the number of firms investing in big data and AI more than US$ 50 Mn rose from 27% in 2018 to 33.9% in 2019. The global spending on big data analytics is more than US$ 180 Bn in 2019 globally. Thus bolstering the big data analytics market growth.
By 2020, 90% of enterprise analytics and business professionals say that data and analytics are key to digital transformation initiatives for their organisations. About 58 percent of organisations worldwide plan to adopt Big Data technology in 2018, according to a recent research study. Hybrid IT infrastructure management capabilities will be adopted by organisations. The increasing adoption of big data and AI in sectors such as IT & Telecom, BFSI, and Healthcare, among others, is further fueling the big data analytics market’s demand.
Platform Analysis
“Service segment to dominate the market throughout the forecast period”
Based on platform, services segment accounted for more than 1/3rd of revenue share of global big data analytics market revenue. Owing to the benefits offered including personalized experience, ability to add real time data for companies, unique view of customers including countless descriptive, calculated and industry specific metrics to organizations to understand client requirements among others.
In contrast, during the forecast period, the software segment is expected to see the highest growth. This can be associated with the increasing adoption by many mid-sized and small-sized companies of big data analytics software and the benefits of big data, such as real-time forecasting and monitoring, the ability to locate, extract and analyse data with various tools, among others. In addition, the growth of the big data analytics market is further fueling the increasing trend of adopting different instruments, including data science, analytical application and stream processing, among others.
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Key Market Movements
• Globally, the big data analytics market is growing at a CAGR of 12.3% for the period from 2019 to 2027.
• Large enterprises segment dominates the big data analytics market with a share of more than 60%. Owing to the increasing adoption and inclination to invest in big data technology among others.
• In addition, SME segment expected to grow at a remarkable pace during the forecast period. This can be associated with the increasing trend of digitalization and adoption of big data technology among others.
• North America region leads the big data analytics market and accounts for a share of more than 35% of the total revenue. The region will sustain its lead during the forecast years. This is due to the region being the one of the early adopter of technological advancements.
• Asia Pacific region anticipated to register highest growth. Asia Pacific region expected to grow at a CAGR of more than 15% throughout the forecast period. Owing to the increasing adoption of advanced technology in the countries such as China, Japan and India among others.
List of Companies Covered:
• IBM Corporation
• Splunk Inc.
• Dell Inc.
• Oracle Corporation
• AWS
• Accenture Plc.
• Palantir Technologies
• HPE Company
• SAP SE
• Microsoft Corporation
• Cisco Systems Inc.
Key Industry Development:
- In November 2018, HPE, announced the acquisition of BlueData a leading big data analytics and Artificial Intelligence Company. This acquisition has helped HPE to expand its product portfolio.
- In August 2019, Salesforce announced the acquisition of Tableau with MuleSoft for US$ 15.7 Bn. This acquisition will enable Salesforce to provide 360 customer service and further enhance its analytics capabilities.
Key questions answered in this report
- What are the current market trends and dynamics in the big data analytics market and valuable opportunities for emerging players?
- Estimated forecast and market projections up to 2027
- Which segment accounts for the fastest CAGR during the forecast period?
- Which product type segment holds a larger market share and why?
- Are low and middle-income economies investing in the big data analytics market?
- Which is largest regional market for big data analytics?
- What is the market trend and dynamics in emerging markets such as Asia Pacific, Latin America and Middle East & Africa?
- Worldwide market value of the big data analytics market in 2017 and 2018
- Which are the key trends driving the global big data analytics market growth?
- Who are the leading service providers in the big data analytics market worldwide?
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ToC:
1. Preface
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Platform
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.3.4. Approach Adopted
1.3.4.1. Top-Down Approach
1.3.4.2. Bottom-Up Approach
1.3.5. Assumptions
1.4. Market Segmentation
2. Executive Summary
2.1. Market Snapshot: Global Big Data Analytics (BDA) Market
2.2. Global BDA Market, by Platform, 2018 (US$ Bn)
2.3. Global BDA Market, by Deployment Mode, 2018 (US$ Bn)
2.4. Global BDA Market, by Organization Size, 2018 (US$ Bn)
2.5. Global BDA Market, by End-user, 2018 (US$ Bn)
2.6. Global BDA Market, by Geography, 2018 (US$ Bn)
3. Market Dynamics
3.1. Introduction
3.1.1. Global BDA Market Value, 2017-2027, (US$ Bn)
3.2. Market Dynamics
3.2.1. Market Drivers
3.2.2. Market Restraints
3.3. Attractive Investment Proposition, by Geography, 2018
3.4. Market Positioning of Key Players, 2018
3.4.1. Major Strategies Adopted by Key Players
4. Global Big Data Analytics (BDA) Market, by Platform , 2017-2027 (US$ Bn)
4.1. Overview
4.2. Hardware
4.3. Software
4.3.1. Analytics Applications
4.3.2. Data Science
4.3.3. Stream Processing
4.3.4. Application Infrastructure
4.3.5. Analytic and Application Databases
4.4. Services
5. Global Big Data Analytics (BDA) Market, by Deployment Mode, 2017-2027 (US$ Bn)
5.1. Overview
5.2. On-premise
5.3. Cloud
5.3.1. Public Cloud
5.3.2. Private Cloud
5.3.3. Hybrid Cloud
6. Global Big Data Analytics (BDA) Market, by Organization Size, 2017-2027 (US$ Bn)
6.1. Overview
6.2. SMEs
6.3. Large Enterprises
7. Global Big Data Analytics (BDA) Market, by End-user, 2017-2027 (US$ Bn)
7.1. Overview
7.2. BFSI
7.3. IT & Telecom
7.4. Healthcare
7.5. Government
7.6. Manufacturing
7.7. Others (Education, Logistics, & Retail etc.)
8. North America Big Data Analytics (BDA) Market Analysis, 2017-2027 (US$ Bn)
8.1. Overview
8.1.1. North America BDA Market Value and Growth, 2017-2027, (US$ Bn)
8.2. North America BDA Market Value, By Platform, 2017-2027 (US$ Bn)
8.2.1. Market Analysis
8.3. North America BDA Market Value, By Deployment Mode, 2017-2027 (US$ Bn)
8.3.1. Market Analysis
8.4. North America BDA Market Value, By Organization Size, 2017-2027 (US$ Bn)
8.4.1. Market Analysis
8.5. North America BDA Market Value, By End-user, 2017-2027 (US$ Bn)
8.5.1. Market Analysis
8.6. North America BDA Market Value, By Region/Country, 2017-2027 (US$ Bn)
8.6.1. Market Analysis
8.6.2. U.S.
8.6.3. Rest of North America
9. Europe Big Data Analytics (BDA) Market Analysis, 2017-2027 (US$ Bn)
…………………
10. Asia Pacific Big Data Analytics (BDA) Market Analysis, 2017-2027 (US$ Bn)
………………..
11. Rest of the World Big Data Analytics (BDA) Market Analysis, 2017-2027 (US$ Bn)
…………
12. Company Profiles
12.1. IBM Corporation
12.2. Splunk Inc.
12.3. Dell Inc.
12.4. Oracle Corporation
12.5. AWS
12.6. Accenture Plc.
12.7. Palantir Technologies
12.8. HPE Company
12.9. SAP SE
12.10. Microsoft Corporation
12.11. Cisco Systems Inc.
……………….
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Keywords: Big Data Analytics Market, Big Data Analytics Market Size, Big Data Analytics Market Share, Big Data Analytics Market Trends, Big Data Analytics, Market Growth
The post Big Data Analytics Market | US$ 105.08 BN Market by 2027 | Global Trends and Forecast appeared first on Financial Market Brief.
