Big Data and Data Engineering Services Market to Soar at 17.6% CAGR to 2023: Top Companies Accenture, Genpact, Cognizant, Infosys, Capgemin, NTT DAT, Mphasis, L&T Technology Services, Hexaware, Happiest Mind, KPMG and More

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.

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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.

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 maintaing and managing these records of the financial transactions in banks and other financial institutions also increases.

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.

In-depth interviews were conducted with the Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the big data and data engineering services marketplace.

By Company – Tier 1-33%, Tier 2-26%, and Tier 3-41%

By Designation – C-Level-37%, Director Level-44%, and Others-19%

By Region – North America-36%, Europe-29%, APAC-25%, and RoW-10%

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The big data and data engineering services ecosystem comprises the top major vendors such as Accenture (Ireland), Genpact (US), Cognizant (US), Infosys (India), Capgemini (France), NTT DATA (Japan), Mphasis (India), L&T Technology Services (India), Hexaware (India), Happiest Minds (India), KPMG (Netherlands), EY (UK), Tiger Analytics (Israel), LatentView Analytics (US), InfoStretch (US), Vensai Technologies (India), Course5 (US), Sigmoid (US), Nous Infosystems (India), Bodhtree (US), Hidden Brains InfoTech (India), Brillio (US), Franz Inc. (US), BRIDGEi2i (India) and Trianz (US).

Related Report:

Big Data Security Market by Software (Encryption Data Masking Access Control Security Intelligence Data Governance) Technology (IAM SIEM UTM IDS IPS) Service Deployment Organization Size and Industry Vertical -Global Forecast to 2022

The global big data security market size is expected to grow from USD 12.22 billion in 2017 to USD 26.85 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 17.1%. Increasing cyber-attacks demanding scalable high security solutions fuel the growth of this market.

The big data security market in Asia Pacific (APAC) region has started to gain momentum and is expected to witness the highest growth rate in the coming years. The growth can be attributed to the continuous increase in the focus of companies on improving their customer service to drive competitive differentiation and revenue growth.

The key vendors profiled in the report are AlienVault, Inc. (US), Amazon Web Services (US), Centrify Corporation (US), Check Point Technologies Ltd. (Israel), Cloudera, Inc. (US), DataVisor, Inc. (US), FireEye, Inc. (US), Fortinet, Inc. (US), Gemalto NV (Netherlands), Gigamon (US), Hortonworks Inc. (US), Hewlett Packard Enterprise (US) and many more.

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