Big Data and Business Analytics Market 2020 : How top leading companies can make this smart strategy work
Based on geography, North America contributed to nearly two-fifths of the global big data and business analytics market share, and is expected to rule the roost throughout the study period. North American countries are expected to adopt Big Data and business analytics solution at a high rate to bring great improvements in operational efficiency in IT infrastructure. At the same time, the region across Asia-Pacific would register the fastest CAGR of 17.3% till 2026. This is due to rise in digitalization in emerging economies such as India and China.
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The global big data and business analytics market garnered $171.39 billion in 2018, and is estimated to reach $512.04 billion by 2026, growing at a CAGR of 14.8% from 2019 to 2026.
The key players profiled in the big data and business analytics market analysis are IBM Corporation, Oracle Corporation, Microsoft Corporation, SAP SE, Fair Isaac Corporation, SAS Institute Inc., TIBCO Software Inc., Teradata Corporation, Amazon Web Services, and Hewlett Packard Enterprise Development LP.
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Based on deployment model, the on-premise segment accounted for nearly three-fifths of the global Big Data and business analytics market revenue in 2018, and is anticipated to maintain its top status during 2019-2026. Enhanced security features provided by on-premise models drive the growth of the segment. Simultaneously, the cloud-based segment would showcase the fastest CAGR of 16.2% by the end of 2026. It's remotely accessible from anywhere around the world which, in turn, propels the growth of the segment.
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Based on component, the solution segment generated the largest share in 2018, holding more than two-thirds of the global Big Data and business analytics market share. Increase in adoption of Big Data analytics solution among various enterprises fuels the growth of the segment. The services segment, on the other hand, would grow at the fastest CAGR of 16.5% throughout the forecast period. This is due to surge in different types of services which include professional and managed services.
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