Press release
Big Data Software Industry Outlook 2025-2029: Market Set to Cross $517.34 Billion Milestone
Big Data Software Market
How Large Will the Big Data Software Market Size By 2025?
The market size for big data software has experienced swift expansion in recent years. There is an expected increase from $245.47 billion in 2024 to $285.65 billion in 2025, marking a Compound Annual Growth Rate (CAGR) of 16.4%. This significant progression over the historic period is credited to the emergence of social media, multimedia, the Internet of Things (IoT), wider consumption of smart applications, and the growing requirement for data management and analytics software.
How Big Is the Big Data Software Market Size Expected to Grow by 2029?
The market size for big data software is predicted to undergo exponential growth in the coming years, expanding to $517.34 billion in 2029 with a compound annual growth rate (CAGR) of 16.0%. This growth during the forecast period can be credited to the expansion of databases across industries, the substantial demand in large corporations for sufficient IT resources, an increase in the volume of data produced, and rising implementation of data discovery and visualisation tools. Key trends expected throughout the forecast period are strategic alliances, innovation in products, evolution in technology, and the incorporation of AI and ML.
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Which Key Market Drivers Powering Big Data Software Market Expansion and Growth?
The growth of the big data software market is anticipated to be fueled by the escalating utilization of digital solutions. These solutions entail the incorporation of digital technologies into diverse aspects of a business, organization, or individual activities to improve efficiency, effectiveness, and user experience. The need for digital solutions is climbing due to a plethora of reasons, such as growing internet usage, the availability of smartphones, and increased cost-efficiency. These digital solutions employ big data software to effectively and precisely analyze substantial amounts of data, allowing organizations to make well-informed decisions, optimize their operations, and customize customer experiences. For instance, as per Augusta Free Press's data in December 2022, spending on global digital transformation approximated $1.85 trillion in 2022, a 16% rise from the previous year, pointing to an augment in digital solutions. Accordingly, the burgeoning use of digital solutions is propelling the growth of the big data software market.
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Which Fast-Growing Trends Are Poised to Disrupt the Big Data Software Market?
Prominent companies in the big data software market are striving to outdo their competition by introducing more technologically advanced offerings, like comprehensive big data analytics solutions. The term "full-stack big data analytics solutions" refers to an all-encompassing system for managing and analyzing large data sets, using a range of techniques and tools throughout the data pipeline. For instance, in September 2023, Synopsys Inc., a US-based software firm, broadened their Synopsys.ai full-stack EDA suite to include an extensive AI-enabled data analytics continuum for each phase of integrated circuit (IC) chip production. The Synopsys EDA Data Analytics solution leverages AI to exploit potentialities in vast volumes of data. It achieves this by gathering and classifying data from various domains using AI-powered processes and techniques, resulting in significant productivity boosts and improved quality of results (QoR).
What Are the Emerging Segments in the Big Data Software Market?
The big data software market covered in this report is segmented -
1) By Component: Software, Services
2) By Deployment Mode: Cloud Based, On-Premise
3) By Industry: Banking, Discrete Manufacturing, Professional Services, Process Manufacturing, Government, Other Industries
Subsegments:
1) By Software: Data Management, Analytics And Visualization, Data Storage, Security And Privacy, Data Processing
2) By Services: Consulting, Implementation, Support And Maintenance
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Who Are the Global Leaders in the Big Data Software Market?
Major companies operating in the big data software market are Alphabet Inc., Microsoft Corporation, Hitachi Vantara Corporation, Amazon Web Services Inc., Siemens AG, Hewlett-Packard Company, International Business Machines Corporation, Cisco Systems Inc., Oracle Corporation, Broadcom Inc., ServiceNow Inc., Dassault Systemes SE, OpenText Corporation, SAP SE, Micro Focus International Limited, Splunk Inc., Zoho Corporation, Snowflake Inc., Cloudera Inc., Confluent Inc., Sumo Logic, Qubole Inc., TIBCO Software Inc., SAS Institute Inc.
Which are the Top Profitable Regional Markets for the Big Data Software Industry?
North America was the largest region in the big data software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the market going forward. The regions covered in the big data software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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