Big Data and Business Analytics Market Size Giants Spending Is Going To Boom | Amazon Web Services, Fair Isaac Corporation, IBM Corporation, Microsoft Corporation, Oracle Corporation

Big data and business analytics refer to the process of gathering useful information from large set of structured and unstructured data for discovering hidden patterns and analyzing real-time information. In addition, organizations are adopting big data analytics instead of traditional databases to gain a competitive edge over their rivals and to increase their market share. Furthermore, big data analytics is used by researchers, analysts, and business users for faster and better decision-making, using data that was previously inaccessible or unusable. Thus, all these factors collectively contribute toward the growth of the big data and business analytics market.

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Governmental organizations are boosting their maintenance budgets for system infrastructure while simultaneously funding initiatives for project development, modernization, and enhancement. As a result of the investments' success, ICT vendors now annually set aside funding for the growth of the online market. Global ICT exports are anticipated to increase 3.9% on average year from US$ 784.3 billion in 2021 to US$ 955.19 billion in 2030. Global supply has increased by 9.5% yearly since 2009. In terms of global ICT exports in 2021, Ireland came in first place with US$ 169. 32 billion. The rankings placed China at number 4, the United States at number 2, and India at number 3. Since 2009, Brunei has increased by 228.2% year over year, while Sierra Leone has decreased by 61.7% year over year.

By 2026, European ICT Revenue is likely to increase by 1.5% annually, from US$ 1,802,413 Million in 2021 to US$ 1,933,429 Million. The European market has increased by 3.1% annually since 2016. In terms of ICT Revenue in Europe in 2021, Germany came in first place with US$ 339,074 million. Positions 2, 3, and 4 in this ranking were held by the United Kingdom, France, and Ireland, respectively. Since 2016, Malta has increased by 16.5% year over year, while Italy has decreased by 0.2%.

Surge in adoption of big data analytics software by various organizations to deliver enhanced & faster decision-making and to provide competitive advantage by analyzing and acting upon information in a timely manner significantly boosts the growth of the global big data and business analytics market. In addition, increase in demand for cloud-based big data analytics software among small & medium enterprises positively impacts the growth of the market. However, high implementation cost and dearth of skilled workforce are expected to hamper the market growth. On the contrary, increase in need to gain better insights for business planning and emerging trends such as social media analytics are expected to offer remunerative opportunities for the expansion of the market during the forecast period. Each of these factors is projected to have a definite impact on the growth of the big data and business analytics market.

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The global big data and business analytics market is segmented into component, deployment model, analytics tool, application, industry vertical, and region. In terms of component, the market is fragmented into hardware, software, and services. Depending on deployment model, it is bifurcated into on-premise and cloud. On the basis of analytics tool, it is categorized into dashboard & data visualization, data mining & warehousing, self-service tools, reporting, and others. The applications covered in the study include customer analytics, supply chain analytics, marketing analytics, pricing analytics, spatial analytics, workforce analytics, risk & credit analytics, and transportation analytics. As per industry vertical, the market is segregated into BFSI, manufacturing, healthcare, government, energy & utilities, transportation, retail & e-commerce, IT & telecom, education and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of global big data and business analytics market forecast along with the current trends and future estimations to elucidate the imminent investment pockets.
- Information about key drivers, restraints, and opportunities and their impact analysis on global market is provided in the report.
- Porter's five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
- The quantitative analysis of the market from 2020 to 2027 is provided to determine the market potential.

KEY MARKET PLAYERS
- Amazon Web Services
- Fair Isaac Corporation
- IBM Corporation
- Microsoft Corporation
- Oracle Corporation
- Hewlett Packard Enterprise Development LP
- SAP SE
- SAS Institute Inc.
- TIBCO Software Inc.
- Teradata Corporation

Key Market Segments
By Component
- Hardware
- Software
- Service

By Deployment Model
- On-premise
- Cloud

By Analytics Tool
- Dashboard & Data Visualization
- Data Mining & Warehousing
- Self-service Tools
- Reporting
- Others

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By Application
- Customer Analytics
- Supply Chain Analytics
- Marketing Analytics
- Pricing Analytics
- Spatial Analytics
- Workforce Analytics
- Risk & Credit Analytics
- Transportation Analytics

By Industry Vertical
- BFSI
- Manufacturing
- Healthcare
- Government
- Energy & Utilities
- Transportation
- Retail & E-commerce
- IT & Telecom
- Education
- Others

By Region
- North America
o U.S.
o Canada
- Europe
o UK
o Germany
o France
o Italy
o Spain
o Netherlands
o Rest of Europe

- Asia-Pacific
o China
o India
o Japan
o South Korea
o Australia
o Rest of Asia-Pacific

- LAMEA
o Latin America
o Middle East
o Africa

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