Big Data Market - Industry Size, Share, Growth & Forecast 2028 | UnivDatos

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The Big Data Market is expected to grow at a CAGR of 12% during the forecast period.

The big data market is expected to register a CAGR of around 12% over the period of 2021-2027. Rising investments and spending on various technological projects by the government and key players are some of the prominent reason contributing to the growth of the big data market. Furthermore, various factors such as plummeting technology costs and the development of open-source big data software frameworks, data connectivity through hybrid and multi-cloud environments, and incorporation of digital transformation in top-level strategies are expected to drive the adoption of big data solutions and services.

According to UnivDatos Market Insights (UMI)’ research report “Big Data Market”, the market is expected to witness robust growth of 12.6% during the forecast period 2021-2027F.

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Big data is a major part of every organization to manage, process, and streamline large data sets in real-time as well as it improves the organization’s decision-making capability. With the emergence of big data technology, the need to process and analyze massive data economically and faster is a crucial thing for enterprises worldwide. Moreover, the demand for big data analytics is increasing among enterprises to process data cost-effectively and at a faster speed. Organizations in all industries are harnessing the power of big data by deploying big data solutions to efficiently manage and analyze big data for actionable insights.

Based on the component, the market is segmented into solutions and services. The solutions segment is expected to hold the largest big data market. The growth is attributed to the increasing demand for big data platforms such as Microsoft azure, Cloudera, tableau, and collibra in various industry verticals.

Based on deployment, the market is segmented into on-premises and cloud. The cloud segment is expected to hold the majority of the big data market during the forecast period. The cloud enables fast and secure networks. Also, cloud networks saves a lot of upfront installation cost, which later can be used in other operations. Moreover, the cloud deployment model scales a solution’s capacity to handle enormous network application traffic. With the adoption of these solutions, small enterprises are able to collect and analyze data, thus improving customer services. Presently, the demand for cloud-based big data solutions is increasing over their on-premises counterparts, owing to the various advantages offered by the cloud deployment model.

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Based on industry vertical, the market is segmented into BFSI, Retail, IT and telecom, government, healthcare, utility, manufacturing, and others. BFSI segment is expected to hold the majority of the market. Owing to the rising demand for tracking the feedback on services in real-time is driving the adoption of big data in the BFSI industry. Increasing focus to improve customer lifecycle in the BFSI industry, growing demand for early fraud detection in the BFSI industry, and rising data volume generated by the capital market due to trading and transactions are resulting in high demand for big data analytics solutions.

Asia Pacific to witness extensive growth

The Asia Pacific region is expected to grow significantly during the forecast period owing to the growing adoption of IoT devices and development of the insurance and banking industry and penetration of new technologies like connected devices. China and India hold the majority of the big data market in the region due to the growing prowess in science and technology and government policies.

Furthermore, the region has a noteworthy potential for big data vendors due to the large population base and early stages of IT adoption by developing countries. Australia, China, India, Singapore, and South Korea are the key leading countries in healthcare big data analytics spending. The trend of mergers and partnerships in the Asia Pacific would spur the adoption of big data technology in the healthcare sector.

According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the big data market are Fair Isaac Corporation, Accenture PLC, Cloudera Inc., Teradata Corporation, Microsoft Corporation, Splunk Inc., Amazon Web Services, Cisco Systems Inc., Hewlett Packard Enterprise Company, Tableau Software. are some of the key players in the market.

“Big Data Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.

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Market Segmentation:

1. By Network Type (Solutions, Services)

2. By Deployment (On-Premises, Cloud)

3. By End-User (BFSI, Retail, IT and telecom, Government, Healthcare, Utility, Manufacturing, Others)

4. By Region (North America, Europe, Asia-Pacific, Rest of the World)

5. By Company (Fair Isaac Corporation, Accenture PLC, Cloudera Inc., Teradata Corporation, Microsoft Corporation, Splunk Inc., Amazon Web Services, Cisco Systems Inc., Hewlett Packard Enterprise Company, Tableau Software)

Key questions answered in the study:

1. What are the current and future trends of the global big data industry?

2. How the industry has been evolving in terms of technology and application?

3. How the competition has been shaping across the countries followed by their comparative factorial indexing?

4. What are the key growth drivers and challenges for the global big data industry?

5. What is the customer orientation, purchase behavior, and expectations from the global big data suppliers across various region and countries?

Table of Content –

1 MARKET INTRODUCTION

2 RESEARCH METHODOLOGY OR ASSUMPTION

3 MARKET SYNOPSIS

4 EXECUTIVE SUMMARY

5 GLOBAL BIG DATA MARKET REVENUE (USD BN), 2019-2027F