Dublin, Dec. 19, 2018 (GLOBE NEWSWIRE) -- The "Big Data and Data Engineering Services Market by Service Type (Data Modeling, Data Integration, Data Quality, Analytics), Business Function (Marketing and Sales, Operations, Finance), Organization Size, Industry, and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
Increasing volume of unstructured data is driving the big data and data engineering services market
This report expects the global big data and data engineering services market to grow from USD 34.47 billion in 2018 to USD 77.37 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 17.6% during the forecast period.
Major growth factors for the market include the rapidly increasing volume of unstructured data due to phenomenal growth of interconnected devices and social media. However, inability of service providers to provide real-time insights could limit the market growth.
The marketing and sales business function to hold the largest market size by 2023
Organizations are using emerging technologies and solutions to gain more visibility into the complex business data. With the right solution, one can streamline the business processes with more efficiency. Big data and data engineering services allow companies to streamline their business processes for quick task resolution, without having to waste time on mundane tasks.
It enables organizations to maintain all the data records and provides the required security and privacy to the data which is otherwise a major concern for organizations. Therefore, the marketing and sales business function is projected to have the largest market size by 2023.
Banking, Financial Services, and Insurance (BFSI) to hold the largest market size in 2018
In the big data and data engineering services market by industry vertical, the BFSI vertical is projected to hold the largest market size during the forecast period. As the volume and variety of data is increasing, the demand for maintaining and managing these records of the financial transactions in banks and other financial institutions also increases.
Asia Pacific (APAC) to grow at the highest CAGR and North America to hold the largest market size
APAC is expected to be the highest growing region in the big data and data engineering services market because of the increasing adoption of big data technologies, and government initiatives, such as smart cities in the APAC countries, including China and India.
North America, followed by Europe, is expected to continue being the largest revenue-generating region for the big data and data engineering services vendors, for the next 5 years. This is mainly due to the presence of major developed economies, such as Canada and US, and the high focus on R&D and technological innovations across industry verticals.
Key Topics Covered
1 Introduction
2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data
2.1.2.1 Breakdown of Primaries
2.1.2.2 Key Industry Insights
2.2 Market Size Estimation
2.3 Research Assumptions
2.4 Limitations
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Big Data and Data Engineering Services Market
4.2 Market Share, By Region
4.3 Market Top 4 Service Types and Regions
5 Market Overview
5.1 Introduction
5.1.1 Drivers
5.1.1.1 Increasing Volume of Unstructured Data, Due to the Phenomenal Growth of Interconnected Devices and Social Media
5.1.1.2 Cost-Effective Services and Cutting-Edge Expertise Rendered By Data Servicing Companies
5.1.1.3 Rising Need for Adhering to Regulatory and Compliance Requirements
5.1.2 Restraints
5.1.2.1 Inability of Service Providers to Provide Real-Time Insights
5.1.3 Opportunities
5.1.3.1 New Business Propositions
5.1.3.2 Increasing Volume of Data Across Small and Medium-Sized Enterprises (SMEs)
5.1.4 Challenges
5.1.4.1 Data Diversity
5.1.4.2 Privacy and Security Concerns
5.2 Prevailing Regulations for Privacy and Security of Data
5.2.1 Health Insurance Portability and Accountability Act (HIPAA) of 1996
5.2.2 Health Information Technology for Economic and Clinical Health (HITECH) Act
5.2.3 Sarbanes-Oxley Act of 2002
5.2.4 European Market Infrastructure Regulation (EMIR)
5.2.5 EU General Data Protection Regulation (GDPr)
5.3 Big Data and Data Engineering Services: Use Cases
5.3.1 Use Case #1: Increase Customer Base and Improve Loyalty
5.3.2 Use Case #2: Improve Decision-Making and Data Science Capacity
5.3.3 Use Case #3: Big Data Integration and Governance
5.3.4 Use Case #4: Develop Data Reservoir
5.3.5 Use Case #5: Develop Data Lakes
5.3.6 Use Case #6: Data Analytics Strategic Evaluation
5.3.7 Use Case #7: Data Integration and Consumption for A Logistics Conglomerate
5.3.8 Use Case #8: Identifying Optimal Treatment Plans for Individual Patients
6 Big Data and Data Engineering Services Market, By Service Type
6.1 Introduction
6.2 Data Modeling
6.3 Data Integration
6.4 Data Quality
6.5 Analytics
7 Market By Business Function
7.1 Introduction
7.2 Marketing and Sales
7.3 Finance
7.4 Operations
7.5 Human Resources and Legal
8 Big Data and Data Engineering Services Market, By Organization Size
8.1 Introduction
8.2 Large Enterprises
8.3 Small and Medium-Sized Enterprises
9 Market By Industry
9.1 Introduction
9.2 Banking, Financial Services, and Insurance
9.3 Healthcare and Life Sciences
9.4 Retail and Ecommerce
9.5 Manufacturing
9.6 Media and Telecom
9.7 Government
9.8 Others
10 Big Data and Data Engineering Services Market, By Region
10.1 Introduction
10.2 North America
10.2.1 By Country
10.2.1.1 United States
10.2.1.1.1 By Organization Size
10.2.1.2 Canada
10.2.1.2.1 By Organization Size
10.2.2 By Service Type
10.2.3 By Business Function
10.2.4 By Organization Size
10.2.5 By Industry
10.3 Europe
10.3.1 By Country
10.3.1.1 United Kingdom
10.3.1.1.1 By Organization Size
10.3.1.2 Germany
10.3.1.2.1 By Organization Size
10.3.1.3 France
10.3.1.3.1 By Organization Size
10.3.1.4 Rest of Europe
10.3.1.4.1 By Organization Size
10.3.2 By Service Type
10.3.3 By Business Function
10.3.4 By Organization Size
10.3.5 By Industry
10.4 Asia Pacific
10.4.1 By Country
10.4.1.1 Japan
10.4.1.1.1 By Organization Size
10.4.1.2 China
10.4.1.2.1 By Organization Size
10.4.1.3 Australia
10.4.1.3.1 By Organization Size
10.4.1.4 India
10.4.1.4.1 By Organization Size
10.4.1.5 Rest of Asia Pacific
10.4.1.5.1 By Organization Size
10.4.2 By Service Type
10.4.3 By Business Function
10.4.4 By Organization Size
10.4.5 By Industry
10.5 Latin America
10.5.1 By Country
10.5.1.1 Brazil
10.5.1.1.1 By Organization Size
10.5.1.2 Mexico
10.5.1.2.1 By Organization Size
10.5.1.3 Rest of Latin America
10.5.1.3.1 By Organization Size
10.5.2 By Service Type
10.5.3 By Business Function
10.5.4 By Organization Size
10.5.5 By Industry
10.6 Middle East and Africa
10.6.1 By Sub-Region
10.6.1.1 Middle East
10.6.1.1.1 By Organization Size
10.6.1.2 Africa
10.6.1.2.1 By Organization Size
10.6.2 By Service Type
10.6.3 By Business Function
10.6.4 By Organization Size
10.6.5 By Industry
11 Competitive Landscape
11.1 Overview
11.2 Competitive Scenario
11.2.1 New Product Launches and Product Upgradations
11.2.2 Partnerships and Strategic Alliances
11.2.3 Acquisitions
11.2.4 Business Expansions
11.3 Big Data and Data Engineering Services Market: Prominent Players
12 Company Profiles
12.1 Accenture
12.2 Genpact
12.3 Cognizant
12.4 Infosys
12.5 Capgemini
12.6 NTT Data
12.7 Mphasis
12.8 L&T Technology Services
12.9 Hexaware
12.10 Happiest Minds
12.11 Kpmg
12.12 Ey
12.13 Tiger Analytics
12.14 Latentview Analytics
12.15 Infostretch
12.16 Vensai Technologies
12.17 Course5
12.18 Sigmoid
12.19 Nous Infosystems
12.20 Bodhtree
12.21 Hidden Brains Infotech
12.22 Brillio
12.23 Bridgei2i
12.24 Franz, Inc.
12.25 Trianz
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