According to a new market research report published by sheer analytics and insights, “The Global Big Data Analytics Market will grow at 18.9% CAGR from 2020 to 2030”, as per the latest market research report titled Global Big Data Analytics Market (By Platform – Hardware, Software, and Services. By Deployment Mode – On-Premise, and Cloud Based. By Enterprise Size - Small & Medium Enterprises (SME’s), and Large Enterprises. By End-User - IT & Telecom, BFSI, Healthcare, Government, Manufacturing, and Others. By Geography- North America, Europe, Asia Pacific, Latin America, Middle East, and Africa)– Global industry analysis, size, share, growth, trends, and forecast, 2020-2030.
COVID has impacted the Big Data Analytics Market negatively. Companies operating in the Big Data analytics market is experiencing many challenges due to slowdown in commercial activities across the industries that uses Big data analysis software. However, industries such as Healthcare and Logistics have gained massive profit during the lockdown as well as post-lockdown period globally. The market is projected to recover from 2021 onwards when industrial activities are back on track and working with its full capability.
Big data analytics is defined as analyzing large volume of structured and unstructured data which cannot be stored in databased without processing. It is widely used across IT, Telecom, BFSI, and Healthcare industries as it offers a large amount of complex data processing in real-time. The Big Data Analytics Market is primarily driven by the increasing complexity and volume of data due to rising mobile data traffic, and cloud-computing traffic. Moreover, surging development and adoption of technologies such as the internet of things (IoT) and Artificial Intelligence (AI) is expected to fuel the market growth over the forecast period. However, high initial spending on big data analytics setup is projected to restrain the market growth up to some extent. Apart from this, the emergence of technologies such as cloud services, and the Internet of Things are expected to offer lucrative growth opportunity for the Big Data Analytics Market over the forecast period from 2020 to 2030. Geographically, The Big Data Analytics Market is divided into global regions like North America, Europe, Asia- Pacific, Latin America, Middle East, and Africa.
The primary key players in the Big Data Analytics Market include IBM Corporation, Splunk Inc., Dell Inc., Oracle Corporation, Amazon AWS, Accenture Plc., Palantir Technologies, HPE Company, SAP SE, Microsoft Corporation, and Cisco Systems Inc.
The Global Big Data Analytics Market Has Been Segmented into:
Global Big Data Analytics Market: By Platform
Global Big Data Analytics Market: By Deployment Mode
Global Big Data Analytics Market: By Enterprise Size
Global Big Data Analytics Market: By End-User
Global Big Data Analytics Market: By Region