Press release
Exponential Growth in Big Data and Analytics Market: Market Size Projections, Key Drivers, and Emerging Trends
Big Data and Analytics Market Share
What Is The Projected Market Size Of The Global Big Data and Analytics Market And Its Growth Rate?
The big data and analytics market has witness substantial growth, projected to rise from:
•$115.98 billion in 2024 to $131.4 billion in 2025 (CAGR of 13.3%)
•$226.31 billion in 2029 (CAGR of 14.6%)
Key contributing factors are strong economic growth in emerging markets, increased internet penetration, government initiatives in developing economies, rising penetration of e-commerce, the proliferation of mobile devices, and the ongoing impact of the COVID-19 pandemic.
What Is Driving The Growth In The Big Data and Analytics Market?
Investments in business intelligence and data analytics tools by major companies are driving the growth of the big data and analytics market. An increase in the adoption of different styles of analytics to solve business challenges and personalize product or service according to customer needs is further facilitating the market growth. For instance, retailer CostCo's use of analytics software to warn customers about possible contamination in purchased stone fruits demonstrates how personalized responses can improve customer service.
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Who Are the Key Players Driving Big Data and Analytics Market Growth?
Prominent organizations in the big data and analytics market are:
•Microsoft
•Oracle Corporation
•SAP SE
•Salesforce
•SAS Institute Inc.
•Amazon Web Services
•Cisco Systems
•accenture* PLC
•Plaxonic
•Eoitek
•Sam Technology
•WakeData, Teradata
•Keyrus
•Orange Business Services
•And others
What Are The Key Trends In The Big Data and Analytics Market?
Observing the major trends in the market:
•Integrating AI for improved efficiency and better business insights
•Offering big data as a service to reduce upfront costs for companies
•Establishing collaborations for the development of innovative and efficient technologies
•Investing in edge computing solutions for improved security, scalability
•Leveraging xops solutions to increase reliability and prevent duplication of technology
What Are The Segments Of The Global Big Data and Analytics Market?
The big data and analytics market is segmented as follows:
•By Analytics Tools: Dashboard & Data Visualization, Self-Service Tools, Data Mining & Warehousing, Reporting, Other Analytics Tools
•By Deployment Mode: On-Premise, Cloud
•By Application: Customer Analytics, Supply Chain Analytics, Marketing Analytics, Pricing Analytics, Spatial Analytics, Workforce Analytics, Risk & Credit Analytics, Transportation Analytics, Other Applications
•By End Use Industry: BFSI, Retail, Manufacturing, IT and Telecom, Government, Healthcare, Utility, Other End Use Industries
Which Region Leads The Big Data and Analytics Market?
The Asia-Pacific region was the largest contributor to the big data and analytics market in 2024, followed by North America. The report covers the big data and analytics market analysis for Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Big Data and Analytics Market Global Market Report?
- Market Size Analysis: Analyze the Big Data and Analytics Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Big Data and Analytics Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Big Data and Analytics Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Big Data and Analytics Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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