Big Data Analytics Market is expected to witness 18.9% CAGR between 2020-2030 | Global Industry Size, Share, Growth, Key Companies Trends & Forecast

According to a new market research report published by sheer analytics and insights, “The Global Big Data Analytics Market was $31.30 Bn in 2020, and it is expected to reach $176.10 Bn by 2030. It is eventually growing at a commendable high compound annual growth rate CAGR of 18.9% between 2020-2030”, as per the latest market research report titled Global Big Data Analytics Market –Industry analysis, size, share, growth, trends, and forecast, 2020-2030.

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COVID has impacted the Big Data Analytics Market negatively. Companies operating in the Big Data analytics market are experiencing many challenges due to the slowdown in commercial activities across the industries that uses Big data analysis software. However, industries such as Healthcare and Logistics have gained massive profit during the lockdown as well as post-lockdown period globally. The market is projected to recover from 2021 onwards when industrial activities are back on track and working with their full capability.

Big data analytics is defined as analyzing a large volume of structured and unstructured data that cannot be stored in the database without processing. It is widely used across IT, Telecom, BFSI, and Healthcare industries as it offers a large amount of complex data processing in real-time. The Big Data Analytics Market is primarily driven by the increasing complexity and volume of data due to rising mobile data traffic, and cloud-computing traffic.
Moreover, the surging development and adoption of technologies such as the internet of things (IoT) and Artificial Intelligence (AI) are expected to fuel the market growth over the forecast period. However, high initial spending on big data analytics setup is projected to restrain the market growth up to some extent. Apart from this, the emergence of technologies such as cloud services, and the Internet of Things are expected to offer lucrative growth opportunities for the Big Data Analytics Market over the forecast period from 2020 to 2030.
Geographically, The Big Data Analytics Market is divided into global regions like North America, Europe, Asia- Pacific, Latin America, Middle East, and Africa.

The primary key players in the Big Data Analytics Market include IBM Corporation, Splunk Inc., Dell Inc., Oracle Corporation, Amazon AWS, Accenture Plc., Palantir Technologies, HPE Company, SAP SE, Microsoft Corporation, and Cisco Systems Inc.

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The Global Big Data Analytics Market Has Been Segmented into:

By Platform
• Hardware
• Software
• Services

By Deployment Mode
• On-Premise
• Cloud-Based

By Enterprise Size
• Small & Medium Enterprises (SME’s)
• Large Enterprises

By End-User
• IT & Telecom
• BFSI
• Healthcare
• Government
• Manufacturing
• Others (Education, Logistics, & Retail, etc.)

By Region
• North America
o USA
o Canada
o Mexico
o Rest of North America
• Europe
o UK
o Germany
o France
o Spain
o Italy
o Russia
o Rest of Europe
• Asia Pacific
o India
o China
o Japan
o South Korea
o Rest of Asia Pacific
• Latin America, Middle East & Africa
o Brazil
o South Africa
o UAE
o Rest of LAMEA
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