The global big data analytics market is expected to grow at a CAGR of 22% during 2017-2022. Big data analytics is examination of large and varied data sets usually known as “big data” to discover hidden patterns. It is also widely used for discovering unknown correlations and some other useful information that can guide organizations make more-informed decisions, improved operational efficiency and better opportunities. Globally, all the major economies have gone through a digital transformation in almost every field. The numerous advantages such as improved performance and profitability have shifted the major applications towards this transformation and also evolved a new term “Big Data”. This transformation results in a huge amount of data which needs some specialized tools and techniques to handle and process it, which directly affects the growth of Big Data Analytics Market. Additionally, increased usage of IoT devices and a rising demand of mobile technologies and its applications are boosting the market growth. The need of big data analytics tools in different applications such as business intelligence and operations are demanding these tools rapidly which is motivating the market to grow.
Moreover, security concerns and lack of awareness about the tools and techniques are still some of the restraints that are hindering the big data market growth. Growing innovations and technological advancements in big data analytics software are expected to overcome the restraints in future. Various secure, effective and robust mechanisms in the next few years are expected to increase the security level of these big data from data breaches. Additionally, due to rising demands of big data tools in several applications including business intelligence and operations, healthcare and so forth big data analytics is increasingly adopted across the globe.
Global big data analytics market is analyzed on the basis of the geographical regions that are contributing significantly towards the growth of the market. On the basis of the geography, market is distributed into North America, Europe, Asia Pacific and Rest of the World. North America is estimated to be the dominating region in the global big data analytics market. The rising number of adoptions in the use of big data analytics and the growing awareness among the masses towards technological advancement are the major factors driving the North American big data analytics market. However, Asia Pacific countries such as India, China and Japan are expected to achieve the highest growth rate during the forecast period due to the significant increase in adoption of data analytics in diverse applications such as healthcare and defence.
The key big data analytics market players includes Alation Inc., Alpine Data Labs, Alteryx, Amazon Web Services, BigML, Cognonto Corp., Couchbase, Inc., Dataiku, IBM Corporation, Inbenta, MapD Technologies, New Relic, Oracle Corporation, Pentaho, SAP SE, SiSense, Splice Machine, Splunk Inc., Striim, Tableau Corporation, Teradata Corporation, ThoughtWorks, TIBCO Jaspersoft, Treasure Data, Inc. and VMware Inc. and so on. The key strategies adopted by big data analytics market players includes new product launch covering a wide range of users, customer-centric products, acquisition and intelligent integration of legacy tools. In 2014, TIBCO Inc, a software company acquired Jaspersoft which is known for its business intelligence model. The primary goal of this acquisition was to deliver an even better business analytics toolset for the wide ranged customer audience.
Global big data analytics market is segmented on the basis of applications, deployment method used and verticals. The End-user market is generating noticeable revenue due to their diverse applications in the industries. They are being highly adopted by the various industries including healthcare, business operations, media and entertainment, defence and aerospace and education and so on due to the existence of such large chunks of data. Global Big Data Analytics market has three major segments which includes –
Big Data Analytics Market By Applications
Big Data Analytics Market By Deployment
Big Data Analytics Market By Vertical
The report covers:
Comprehensive research methodology of Global Big Data Analytics Market. This report also includes detailed and extensive market overview with Analyst insights & key market trends.
Exhaustive Analysis of macro and micro factors influencing the market guided by key recommendations.
Analysis of regional regulations and other government policies impacting the Global Big Data Analytics Market.
Insights about market determinants which are stimulating the Global Big Data Analytics Market
Detailed and extensive market segments with regional distribution of forecasted revenues.
Extensive profiles and recent developments of market players.