Pune, India, June 07, 2022 (GLOBE NEWSWIRE) -- The global big data analytics market size is rising and projected to reach USD 549.73 billion by 2028. The overall market size was USD 206.95 billion in 2020 and USD 231.43 billion in 2021. Further, the market is estimated to grow at a CAGR of 13.2% during the 2021-2028 period. This information is published by Fortune Business Insights™ in its report, titled, “Big Data Analytics Market Forecast, 2021-2028.”
As per the report, big data analytics examines the unstructured and structured record to envision and deliver understandings grounded on connection, concealed configurations, varying trends in the market, and many more.
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Industry Development
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Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2021 to 2028 |
| Forecast Period 2021 to 2028 CAGR | 13.2% |
| 2028 Value Projection | USD 549.73 Billion |
| Base Year | 2020 |
| Big Data Analytics Market Size in 2020 | USD 206.95 Billion |
| Historical Data for | 2017 to 2019 |
| No. of Pages | 140 |
| Segments covered | Component, Application, Vertical and Geography |
| Big Data Analytics Market Growth Drivers | Tactical Procurement by Prominent Players Set to Impel Market Development |
| Rising Utilization of Edge Computing to Stimulate Demand for Analytics Tools |
Digital revolution across various industries such as healthcare, production & manufacturing, wholesale & retail, and others during the coronavirus disease outbreak is expected to enhance big data implementation.
Moreover, the industrial internet of things (IIoT) and artificial intelligence (AI) navigate computerization in the production industry. Big data technology is being employed across portfolio management, asset administration and analytical maintenance, network manufacturing, real-time alerts, and many more to magnify the growth of the manufacturing industry amid undefined business situations.
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Drivers and Restraints
Rising Utilization of Edge Computing to Stimulate Demand for Analytics Tools
The quantity of associated IoT gadgets is growing owing to the increasing implementation of the Internet of things (IoT), artificial intelligence (AI), as well as machine learning algorithms (MLA). As per a report published by IDC data, 152,200 IoT gadgets are likely to be linked each minute by 2025.
Furthermore, the rising demand for linked devices is enhancing the employment of edge computing. With the ability to process data in real-time and speedier reply intervals, edge computing is predominantly relevant to industrial IoT. This factor is anticipated to promote the big data analytics market growth during the forecast period.
Report Coverage
We provide our reports which are conducted with an all-inclusive examination approach that majorly emphasizes on delivering precise material. Our scholars have applied a data triangulation method which further assists us in offering trustworthy estimations and accurately testing the general market dynamics. Further, our analysts have received admission to numerous international and regional funded registers for providing the up-to-date material so that the stakeholders and business professionals invest only in essential zones.
Segmentation
On the basis of component, the global market is segregated into software, hardware, and services.
By application, the market is classified into data discovery and visualization (DDV), advanced analytics (AA), and others (data preparation, and others).
In terms of vertical, the big data analytics market is divided into BFSI, government, retail, manufacturing, IT & telecom, healthcare and life sciences, and others (automotive, and others). BFSI is expected to gain maximum revenue share in the industry vertical due to the extensively growing customer base.
Geographically, the market is branched into regions such as North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
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Competitive Landscape
Tactical Procurement by Prominent Players Set to Impel Market Development
The crucial players in the market are capitalizing on providing novel and ground-breaking applications of big data analytics across all business fragments. Moreover, to build novel solutions, prominent market players encompass the possibility of fundamental data, elevate their tools and technology, and fortify their analytics and technology solutions competencies.
Regional Insights
North America held the maximum big data analytics market share during the mentioned time period. The region observes the presence of important businesses through all the industries and is expansively executing the big data analytics software.
Asia Pacific perceived noteworthy CAGR during the forecast period owing to the expansion in BFSI, retail, manufacturing, healthcare and other industries. Along with leading nations such as India, China, South Korea, Japan, Singapore and others, the development latent for the market is broad in the region.
Europe has considerably augmented the implementation of progressive communication, network solution, social media, electronic devices, linked devices, and more. The broadly increasing data in the region is anticipated to boost the demand for analytical solutions.
List of Key Companies Covered in the Big Data Analytics Market Analysis Report:
- Microsoft Corporation (Washington, U.S.)
- Dun & Bradstreet Holdings, Inc. (New Jersey, U.S.)
- Equifax, Inc. (Georgia, U.S.)
- IBM Corporation (New York, U.S.)
- Salesforce.com, Inc. (California, U.S.)
- SAP SE (Walldorf, Germany)
- Verisk Analytics Inc. (New Jersey, U.S.)
- Dow Jones & Company, Inc. (New York, U.S.)
- Moody's Corporation (New York, U.S.)
- Oracle Corporation (Texas, U.S.)
- SAS Institute Inc. (North Carolina, U.S.)
- QlikTech International AB (Pennsylvania, U.S.)
- TransUnion (Illinois, U.S.)
- Fair Isaac Corporation (California, U.S.)
- Experian Information Solutions, Inc. (California, U.S.)
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Major Table of Contents:
- Global Big Data Analytics Key Players Market Share Insights and Analysis, 2020
- Key Market Insights and Strategic Recommendations
- Companies Profiled
- Overview
- Key Management
- Headquarters etc.
- Offerings/Business Segments
- Key Details
- Employee Size
- Key Financials
- Past and Current Revenue
- Geographical Share
- Business Segment Share
- Recent Developments
- Overview
- Annexure / Appendix
- Global Big Data Analytics Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
- By Component (Value)
- Software
- Credit Risk Management
- Business Intelligence Solutions
- CRM Analytics
- Compliance Analytics
- Workforce Analytics
- Others (content analytics, supply chain analytics, etc.)
- Hardware
- Services
- Software
- By Application (Value)
- Data Discovery and Visualization (DDV)
- Advanced Analytics (AA)
- Others (Data Preparation, etc.)
- By Vertical (Value)
- BFSI
- Government
- Retail
- Manufacturing
- IT & Telecom
- Healthcare and Life Sciences
- Others (Automotive, etc.)
- By Region (Value)
- North America
- South America
- Europe
- Middle East & Africa
- Asia Pacific
- By Component (Value)
- North America Big Data Analytics Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
- By Component (Value)
- Software
- Credit Risk Management
- Business Intelligence Solutions
- CRM Analytics
- Compliance Analytics
- Workforce Analytics
- Others (content analytics, supply chain analytics, etc.)
- Hardware
- Services
- Software
- By Application (Value)
- Data Discovery and Visualization (DDV)
- Advanced Analytics (AA)
- Others (Data Preparation, etc.)
- By Vertical (Value)
- BFSI
- Government
- Retail
- Manufacturing
- IT & Telecom
- Healthcare and Life Sciences
- Others (Automotive, etc.)
- By Country (Value)
- United States
- Canada
- Mexico
- By Component (Value)
- Global Big Data Analytics Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
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