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Big Data Infrastructure Market Size, Scope Analysis, Key Insights, Leading Key Players, And Forecast To 2033
Big Data Infrastructure Market
According to The Business Research Company's, The big data infrastructure market size has grown exponentially in recent years. It will grow from $171.96 billion in 2023 to $209.04 billion in 2024 at a compound annual growth rate (CAGR) of 21.6%. The growth in the historic period can be attributed to data explosion, business intelligence needs, regulatory compliance, rise of machine learning and AI (artificial intelligence), increased connectivity.
The big data infrastructure market size is expected to see exponential growth in the next few years. It will grow to $452.50 billion in 2028 at a compound annual growth rate (CAGR) of 21.3%. The growth in the forecast period can be attributed to continued data growth, edge computing, enhanced security measures, AI integration in infrastructure management, industry-specific solutions. Major trends in the forecast period include technology advancements, cloud adoption, hybrid and multi-cloud adoption, containerization and microservices architecture, industry-specific customization.
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Market Drivers and Trends:
The increasing adoption of cloud computing is expected to propel the growth of the big data infrastructure market going forward. Cloud computing refers to the delivery of computing services, including storage, processing power, databases, networking, analytics, and software, over the Internet (the cloud) to provide convenient, on-demand access to a shared pool of configurable computing resources. The adoption of cloud computing arises because of the increasing demand for data backup solutions, scalability, and rapid deployment of new services and applications. Big data infrastructure is utilized in cloud computing to support the processing and analysis of large and complex datasets and analyze large volumes of data, benefiting from the scalability, cost-effectiveness, and flexibility provided by cloud environments. For instance, in September 2022, according to reports shared by AAG IT Services, a US-based digital transformation service provider, 753 technical and business professionals revealed that 63% of respondents reported heavy usage of cloud services in 2022. This marked an increase from 59% in 2021 to 53% in 2020. Therefore, the increasing adoption of cloud computing is driving the growth of the big data infrastructure market.
Major companies operating in the big data infrastructure are adopting a strategic partnership approach to provide innovative and cost-effective solutions for their clients. Strategic partnerships are critical in driving the adoption and evolution of big data infrastructure, allowing enterprises to harness the power of data for competitive advantage and corporate growth. For instance, in October 2023, NetApp Inc., a US-based intelligent data infrastructure company, partnered with Ducati Corse, an Italy-based manufacturer of sport-inspired motorcycles, to introduce a co-engineered data management and insights solution. This partnership focuses on revolutionizing Ducati's data infrastructure to accelerate elite motorcycle racing data analysis, ensuring near-real-time data sharing and analytics to enhance software development, design, and engineering processes at Ducati. The co-engineered solution from NetApp and Ducati Corse leverages data management principles that might touch upon big data infrastructure concepts because of the potential volume and complexity of the data involved.
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Major Key Players of the Market:
Google LLC, Microsoft Corporation, Dell Technologies Inc., Amazon Web Services (AWS), Hitachi Data Systems, Intel Corporation, International Business Machine Corporation, Cisco Systems Inc., Oracle Corporation, SAP SE, Hewlett Packard Enterprise (HPE), Palantir Technologies, Teradata Corporation, Informatica LLC, Snowflake Inc., MongoDB Inc., Confluent Inc., Talend SA, Redis Ltd., Cloudera Inc., DataStax Inc., Couchbase Inc., Hortonworks Inc., Clustrix Inc., MapR Technologies India Pvt. Ltd., Syncsort Inc.
Big Data Infrastructure Market 2024 Key Insights:
• The Big Data Infrastructure Market is expected to grow to $452.50 billion in 2028 at a compound annual growth rate (CAGR) of 21.3%.
• Cloud Computing Fueling Growth In The Big Data Infrastructure Market
• Strategic Partnerships Driving Innovation In Big Data Infrastructure
• North America was the largest region in the big data infrastructure market in 2023. The regions covered in the big data infrastructure market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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