Global Big Data Market was valued US$ 3X.9X Bn in 2019 and is expected to reach US$ 70.XX Bn by 2027, at CAGR of 19.XX% during forecast period of 2020 to 2027.
Big Data Introduction:
Big data is larger, more complex data sets, especially from new data sources. These data sets are so voluminous that traditional data processing software just can’t manage them. But these massive volumes of data can be used to address business problems you wouldn’t have been able to tackle before. Big data is data that contains greater variety arriving in increasing volumes and with ever-higher velocity.The report study has analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.
Global Big Data Market Overview:
The In almost all the corporates data is increasing tremendously, due to which, analytics solutions have gained significant demand. Hence, several industries worldwide have shifted towards adopting the big data analytics solutions, which is one of the major factors for the growth of the market. Thus, the big data market is expected to grow from US$ 3X.9X Billion in 2019 to US$ 70.XX billion by 2027, at a Compound Annual Growth Rate (CAGR) of 19.XX% during the forecast period.
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The organizations are gradually getting aware of the importance and benefits of these big data solutions, such as it provides real-time access of the data that makes decision making process quite faster and easier. This factor is driving the market growth but due to ambiguities in traditional architecture & infrastructure and the big data talent gap, organizations may face difficulties to deploy big data solutions and services. Though the investments in IT sector are quite massive, the vendors in big data market are consistently striving to expand their business from local regions to global level. Various players in the market are emerging with innovative big data software and services due to the bulky amount of data, remarkable increase in the number of mobile devices and several apps and the shift from analog to digital technologies.
There are various big players providing big data software and services, such as Oracle, IBM, HPE, Microsoft, SAP SE, SAS Institute, Amazon Web Services, Dell, Teradata and others. These are the major players in the big data market growing with various strategies such as new product launches, partnerships, mergers & acquisitions, collaborations and expansions to sustain & be competitive in the market. For instance, IBM is one of the global leaders in manufacturing and marketing hardware, middleware and software. To withstand its business in big data market, IBM has acquired various companies which would provide it with data properties and insights within the big data landscape.
Global Big Data Market Dynamics:
The Global Big Data Market dynamics are thoroughly studied and explained in the report, which helps reader to understand emerging market trends, drivers, restraints, opportunities, and challenges at global and regional level for the Global Big Data Market. Since last two decades market has witness to huge switch from Analog to digital technologies, this shift has played a remarkable role for generating the demand for some advanced analytics solutions over the conventional analytics, which is driving the market growth. Simultaneously, there are tremendous changes in the technologies and a massive boom in the innovative devices and apps. Population around world have rapidly adopting the new and advanced technologies, which has increased in the usage of mobile devices and apps along with the explosive growth of data, which has driven the growth of the market and are expected to contribute at large in the forecasted period as well. On global level, increasing number of organizations connecting with the benefits of big data, at the same time they are getting aware about enhancing organizational return on investment by the use of big data solutions are the major opportunities for the growth of the market in the forecast years. Whereas, in some cases, lack of awareness of the benefits of big data solutions and services and some government rules & regulations hamper the market growth. And the Talent Gap while implementing the Big Data is also one of the challenge for the big data market, through which players are working to overcome.
Global Big Data Market is studied by Various Segments:
The analysts at Maximize Market Research have done an extensive research for the Global Big Data Market and provides the report with detail study of the market by various segments and by region. Among several components, software segment of big data analytics is expected to grow at the highest CAGR of XX.XX% and anticipated to hold the highest market share of US$ XX.XX Bn over the forecast period. This can be stated by the fact that business organizations are striving for advanced analytical solutions to be more advanced and competitive by getting actionable insights from the data that gets generated in an organization. Whereas, services segment, is expected to experience huge opportunity and is projected to grow at the highest CAGR of XX.XX% and reach US$ XX.XX Bn by 2027. The market is studied by data types, which further includes structured, semi-structured, and unstructured data types. On the account of increasing unstructured data, organizations are adopting more big data solutions to analyze and manage unstructured data, which contribute to the growth and bring this segment to US$ XX.XX Bn with the CAGR of XX.XX% over the forecast period.
The report covers all the major aspects of the big data market and provides an in-depth analysis across the several regions around the globe. Among those, the region North America holds the largest market share of US$ XX.XX Bn and is expected grow US$ XX.XX Bn by the end of the 2027 with CAGR of XX.XX%. The Asia Pacific region have great opportunities to grow in this market due to the presence of various developing countries, such as China, India, and the Philippines. The Asian Pacific market is estimated to grow at CAGR of XX.XX% and would reach to US$ XX.XX Bn over the forecast period.
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Global Big Data Market by Component
• Software
• Big data analytics
• Data Discovery and visualization
• Data management
• Services
• Consulting and system integration
• Training and support
• Managed services
Global Big Data Market by Data Type
• Structured
• Semi-Structured
• Unstructured
Global Big Data Market by Deployment Model
• On-Premises
• On-Demand
Global Big Data Market by Industry Vertical
• Banking, Financial Services, and Insurance (BFSI)
• Government and Defense
• Healthcare and life sciences
• Manufacturing
• Retail and consumer goods
• Media and Entertainment
• Energy and utility
• Transportation
• IT and telecommunication
• Academia and research
• Others
Global Big Data Market by Region:
• North America
• Europe
• MEA
• APAC
• Latin America
Global Big Data Market Competitive Landscape & Key Players:
Detailed analysis of competition, new entrants, strategic alliances, mergers and acquisition in the Global Big Data Market is covered in the report. The report covers the market leaders and followers in the industry with the market dynamics by region. It will also help to understand the position of each player in the market by region, by segment with their expansion plans, R&D expenditure and organic & in-organic growth strategies. Long term association, strategic alliances, supply chain agreement and mergers & acquisition activities are covered in the report in detail. Expected alliances and agreement in forecast period will give future course of action in the market to the readers. All major & important players are profiled, benchmarked in the report on different parameters that will help reader to gain insight about the market in minimum time.
• IBM (US),
• Oracle (US),
• Microsoft (US),
• HPE (US),
• SAP (Germany),
• Amazon Web Services (US),
• SAS Institute (US),
• Dell Technologies (US),
• Teradata (US), and
• Splunk (US),
• Palantir Technologies (US),
• Cloudera (US),
• Hitachi (Japan),
• Guavus (US),
• 1010data (US)
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