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Big Data And Artificial Intelligence Market Anticipated To Witness Robust Growth, Surpassing 8.52 Billion By 2029
Big Data And Artificial Intelligence
What Is the Current Big Data And Artificial Intelligence Market Size and Its Estimated Growth Rate?
The market size for big data and artificial intelligence has seen rapid expansion lately. The market size is projected to increase from $385.89 billion in 2024 to $456.35 billion in 2025, which corresponds to a compound annual growth rate (CAGR) of 18.3%. Factors contributing to this significant growth during the historical period include an increasing focus on ethical artificial intelligence, a rising demand for decisions based on data, widespread adoption of artificial intelligence, intensified efforts from tech industry leaders, and a growing need for automation.
Anticipations indicate a swift expansion of the big data and artificial intelligence market in the years ahead. The market size is projected to elevate to $884.42 billion by 2029, accelerating at a compound annual growth rate (CAGR) of 18.0%. The escalate during the forecast period can be credited to increased data creation across various sectors, adoption of cloud computing on a larger scale, hike in artificial intelligence investments, escalating cybersecurity threats, and the surging quantity of data being generated. The upcoming years will see significant trends such as edge computing, investment in sophisticated big data tools, technological progress, strategic partnerships, and the broadening of artificial intelligence application in cybersecurity.
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How Are Emerging Segments Shaping the Big Data And Artificial Intelligence Market Landscape?
The big data and artificial intelligence market covered in this report is segmented -
1) By Type: Predictive Analytics, Fraud Detection, Customer Analytics, Risk Management, Supply Chain Management
2) By Deployment Model: Cloud, On-Premises, Hybrid
3) By Technology: Machine Learning, Natural Language Processing, Data Mining, Data Visualization, Deep Learning
4) By End Use: Banking, Financial Services, And Insurance, Healthcare, Retail, Manufacturing, Telecommunications
Subsegments:
1) By Predictive Analytics: Machine Learning-Based Predictive Analytics, Statistical Modeling, Data Mining, Forecasting And Optimization
2) By Fraud Detection: Identity Fraud Detection, Transaction Fraud Detection, Behavioral Analytics, Anomaly Detection
3) By Customer Analytics: Customer Segmentation, Sentiment Analysis, Personalized Recommendations, Customer Churn Prediction
4) By Risk Management: Credit Risk Assessment, Market Risk Analysis, Operational Risk Management, Compliance And Regulatory Risk Management
5) By Supply Chain Management: Demand Forecasting, Inventory Optimization, Supplier Risk Management, Logistics And Transportation Analytics
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Which Growth Factors Are Influencing Big Data And Artificial Intelligence Market Expansion?
The surge in data being produced is anticipated to stimulate the expansion of the big data and artificial intelligence industry. The rapid multiplication of data results from the widespread use of internet of things (IoT) devices, social media platforms, digital transactions, high-resolution media, and real-time analytics. Big data and artificial intelligence contribute to data generation by automating the collection process, boosting real-time processing, and extracting insights from various digital sources. Such integration allows businesses to enhance their decision-making processes, increase efficiency, and foster innovation across different sectors. For example, the International Telecommunication Union, a United Nations specialized agency based in Switzerland, revealed in September 2023 that 67% of the world's population, equivalent to 5.4 billion people, accessed the internet in 2022. This represented a 4.7% rise from 2021, a significant increase compared to the 3.5% growth observed between 2020 and 2021. Hence, the climbing quantity of data being produced is fueling the advancement of the big data and artificial intelligence industry.
Who Are the Dominant Players Across Different Big Data And Artificial Intelligence Market Segments?
Major companies operating in the big data and artificial intelligence market are Amazon Web Services Inc., Microsoft Corporation, Dell Technologies Inc., Intel Corporation, International Business Machines Corporation, Cisco Systems Inc., Oracle Corporation, Google LLC., SAP SE, Hewlett Packard Enterprise Company, NVIDIA Corporation, Salesforce Inc., Adobe Inc., Infosys Limited, SAS Institute Inc., LTI Mindtree Ltd., Teradata Corporation, QlikTech International AB, ScienceSoft USA Corporation, Yalantis, Cyfuture India Pvt. Ltd., Feathersoft Info Solutions Pvt Ltd., Addepto LLC.
What Are the Latest Developing Trends in the Big Data And Artificial Intelligence Market?
Leading firms in the big data and artificial intelligence market are concentrating their efforts on creating innovative services like AI-powered retrieval systems to maintain their market dominance. These AI-driven retrieval services are smart systems that utilize artificial intelligence to unearth, structure, and introduce relevant information from both structured and unstructured data sources. To illustrate, Snowflake Inc., a cloud data storage company based in the US, introduced a retrieval service called Cortex Agents in February 2025. This service is aimed to boost AI-driven data accessibility and business decision-making processes. The agents are designed to streamline structured data retrieval from Snowflake tables and unstructured data retrieval from object storage, like PDFs. Furthermore, Cortex Search enhances unstructured data retrieval and is stated to surpass OpenAI's embedding models by a minimum of 11% across different benchmarks. These innovative developments empower companies to analyze vast datasets more effectively, thereby improving AI-aided decision-making and governance.
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Which Geographic Regions Are Expected to Dominate the Big Data And Artificial Intelligence Market in the Coming Years?
North America was the largest region in the big data and artificial intelligence market in 2024. The regions covered in the big data and artificial intelligence market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Big Data And Artificial Intelligence Market?
2. What is the CAGR expected in the Big Data And Artificial Intelligence Market?
3. What Are the Key Innovations Transforming the Big Data And Artificial Intelligence Industry?
4. Which Region Is Leading the Big Data And Artificial Intelligence Market?
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