Global big data analytics market is forecast to grow at a compound annual growth rate of over 12% during the forecast period and surpass $ 87 billion by 2025. Big Data Analytics is a combination of various tools such as Hadoop and Apache. The main function of these tools is to collect, manage, organize, access and deliver structured as well unstructured data. Increasing expansion in IoT devices market and implementing AI solutions are some of the factors which are driving the growth of big data analytics. The major challenge with the big data analytics is that as data sets are becoming more diverse, there is a big challenge to incorporate them into an analytical platform. Another challenge is, there is acute shortage of professionals in the field of big data analytics.
The global big data analytics market is segmented based on deployment mode, application, component, end use industry, organization size and region. Based on application, the market is segmented into Risk & Fraud Analytics, Enterprise Data Warehouse Optimization, Internet of Things, Customer Analytics, Operational Analytics, Security Intelligence and Others. Operational analytics segment is expected to be the fastest growing application during the forecast period. This is attributed to the fact that, operational analytics helps in determining the root causes of failures, defects and issues. It leads to cost and time reduction so that detecting fraudulent behaviour becomes simpler. Based on end use industry, the market is segmented into BFSI, Healthcare, Government, IT & Telecom, Manufacturing, Retail and Others. BFSI dominated the market in 2019 and is expected to maintain its dominance throughout the forecast period. Increasing focus towards improving customer experience and ensuring accurate data analysis has favored the adoption of big data analytics in this sector. Regionally, North America held the largest share in the market in 2019, and the region will continue to dominate in the coming years as well.
Major players operating in big data analytics market include International Business Machine Corporation, Splunk Inc., Amazon Web Services, Inc., Teradata Corporation, Dell Inc., Oracle Corporation, Accenture Inc., Microsoft Corporation, Palantir Technologies Inc. and SAP SE.
Years considered for this report:
- Historical Years: 2015-2018
- Base Year: 2019
- Estimated Year: 2020
- Forecast Period: 2021–2025
Objective of the Study:
- To analyze and estimate the market size of Global Big Data Analytics market from 2015 to 2018.
- To estimate and forecast the market size of Global Big Data Analytics market from 2019 to 2025.
- To classify and forecast Global Big Data Analytics market based on deployment mode, application, component, end use industry, organization size, company and regional distribution.
- To identify dominant region or segment in the Global Big Data Analytics market.
- To identify drivers and challenges for Global Big Data Analytics market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Global Big Data Analytics market.
- To identify and analyze the profile of leading players operating in Global Big Data Analytics market.
- To identify key sustainable strategies adopted by market players in global Big Data Analytics market.
Key Target Audience:
- Big Data Analytics players and other stakeholders
- Government bodies such as regulating authorities and policy makers
- Organizations, forums and alliances related to Big Data Analytics
- Market research and consulting firms
Market, By Deployment Mode:
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, the global big data analytics market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Risk & Fraud Analytics
- Enterprise Data Warehouse Optimization
- Internet of Things
- Customer Analytics
- Operational Analytics
- Security Intelligence
- Large Enterprises
- IT & Telecom
- North America
- United States
- Asia Pacific
- South Korea
- Middle East & Africa
- Saudi Arabia
- South Africa
- South America