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Big Data Analytics Market

Big Data Analytics Market Size, Share & Segmentation by Component (Hardware, software, services), by Deployment Mode (Cloud, Public Cloud, Private Cloud, Hybrid Cloud, On-premises), by Organization Size (Small and Medium-Sized Enterprises and Large Enterprises), by Business Function (Finance, Marketing, and Sales, Human Resources, Operations), by Industry Vertical (BFSI, Government and Defense, Healthcare and Life Sciences, Manufacturing, Retail, and Consumer Goods, Media and Entertainment, Telecommunications and IT, Transportation and Logistics, Other Verticals), by Regions and Global Market Forecast 2022-2028

Report Id: SNS/ICT/1586 | June 2022 | Region: Global | 130 Pages

Report Scope & Overview:

Big Data Analytics market size was valued at USD158.16 Bn in 2021 and is expected to reach USD302.26 Bn by 2028, and grow at a CAGR of 9.72% over the forecast period 2022-2028.

The collecting of huge and complex data sets that are challenging to analyze using standard database management tools is known as big data analytics and processing. The tools, techniques, and procedures that enable an organization to produce, update, store, and manage very large data sets and storage facilities are referred to as big data analytics. Big data is a critical part of the healthcare business, and it contributes to positive market share growth in terms of value. The healthcare business is the third-largest in terms of market share for big data analytics. On the other, recent technological improvements have made it much easier to review data from diverse sources, as data for a single patient may originate from a variety of sources, including hospitals and path laboratories.

Big Data Analytics Market

This increase is attributable to a rise in the complexity of big data analytics management, an increase in analytics services, and the availability of low-cost big data solutions and services to end-users. The overall amount of data created across several sectors as a result of changing business environments is the primary driver of the big data industry's growth. Gaining knowledge from complex heterogeneous patient sources, averaging the patient records, understanding unmanaged clinical notes in the right way, efficiently handling a large volume of medical imaging data, and relating with standard clinical data adds supplementary layers of difficulty, apprehending the patient's behavioral and personal data, social information through various sources, and their various diagnoses are some of the challenges faced in the healthcare industry.

With the establishment of a new Innovation Centre, Accenture has strengthened its relationship with Palantir, a major data analytics software company. Merck, Airbus, and Ferrari are among the firms that utilize Foundry software, which is now used in over 40 countries.

MARKET DYNAMICS:

KEY DRIVERS:

  • The amount of data collected by businesses is growing all the time.

  • The creation of a vast volume of structured and unstructured data is aided by the falling average selling costs of smart devices.

RESTRAINTS:

  • There are several potential risks and weaknesses when it comes to handling and keeping papers.

  • Threats to security and privacy are projected to limit industry expansion

OPPORTUNITY:

  • The use of technologies such as AI, machine learning, IoT, blockchain, and data analytics is reshaping the big data environment.

  • Key market participants are concentrating on forging agreements with other companies in order to provide innovative solutions based on core technologies like AI and others.

CHALLENGES:

  • The data is prone to mistakes.

  • Legacy systems also have a role, making data consolidation difficult, if not impossible, in a form that is useful for analytics.

IMPACT OF COVID-19:

The big data and business analytics industry has seen substantial expansion in recent years; however, the sector is expected to experience a sharp decline in 2020 as a result of the COVID-19 pandemic. This is due to governments in the majority of nations imposing a state of emergency and prohibiting travel to prevent the spread of the virus. Following the recovery from the COVID-19 pandemic, the big data and business analytics industry is expected to grow in the following years. Various firms throughout the world have implemented a work-from-home culture for their staff, resulting in a demand for cloud-based big data analytics to handle crucial information, presenting a potential market opportunity.

MARKET ESTIMATION:

Professional services (support and maintenance, as well as deployment and integration) and managed services make up the service part of the Big Data Market. This section breaks down the market size and growth rate of each service subsegment by kind (for chosen subsegments) and region.

Cloud computing is the storing, administration, and processing of data through networks of distant computers that are often accessed over the Internet. The on-premises deployment strategy of big data solutions is preferred by businesses in tightly regulated sector verticals such as BFSI, healthcare and life sciences, and manufacturing. Large businesses with adequate IT resources are also likely to choose the on-premises deployment strategy. On-premises deployment is the most dependable deployment strategy, providing a high level of control and protection to an organization

Due to the ever-increasing usage of the cloud, major companies are increasingly adopting Big Data solutions and services, and this trend is projected to continue over the projection period. Large corporations amass massive amounts of data that may be traced back to a diverse customer base. Data plays a critical role in analyzing the overall performance of multinational corporations. Large corporations are relying on real-time data from a variety of sources, such as social media feeds, sensors, and cameras. Each record must be handled in a way that retains its relationship to other data and time sequences.

Big Data analytics has a high acceptance rate among major corporations since it provides an almost endless supply of business and informational expertise that may lead to operational improvements and new revenue opportunities for firms in nearly any industry. Companies are attempting to establish cutting-edge analytics operations for use cases such as customer personalization, risk reduction, fraud detection, internal operations analysis, and other novel use cases appearing on a near-daily basis due to the value buried in corporate data.

A public cloud is a collection of hardware, networking, storage, services, applications, and interfaces maintained and owned by a third party that is made available to other organizations and people. These commercial firms construct a highly scalable data center while keeping the underlying technology hidden from the end customer. Public clouds are feasible because they frequently perform very simple or repeated jobs. For example, e-mail is a rather straightforward service application. As a consequence, a cloud service provider may optimize the environment to serve a large number of customers. Public cloud providers who provide storage or computing services, for example, tailor their hardware and software to meet these specific workloads. The traditional data center, on the other hand, is difficult to optimize since it serves so many different applications and workloads. A public cloud may be quite beneficial when a company is working on a complex data analysis project that requires additional processing cycles. Additionally, organizations may choose to store data in the public cloud, where the cost per gigabyte is lower than on-premise storage. The most urgent challenges with public clouds for large data are security requirements and the degree of latency that is tolerable.

Big Data is gaining traction across many industries as a way to boost profits and save expenses. BFSI, Government and Defense, Healthcare and Life Sciences, Manufacturing, Retail, and Consumer Goods, Media and Entertainment, Telecommunications and IT, Transportation, and Logistics, and other verticals are among the biggest adopters of Big Data software (real estate, energy, and utilities, travel and hospitality, and education and research). During the projection period, the BFSI segment is likely to account for a greater market share. The necessity for real-time tracking of customer feedback on services is boosting big data adoption in the BFSI sector vertical.

KEY MARKET SEGMENTS:

On The Basis of Components:

  • Hardware

  • software

  • services

On The Basis of Deployment Mode:

  • Cloud

  • Public Cloud

  • Private Cloud

  • Hybrid Cloud

  • On-premises

On The Basis of Organization Size:

  • Small and Medium-Sized Enterprises

  • Large Enterprises

On The Basis of Business Function:

  • Finance

  • Marketing and Sales

  • Human Resources

  • Operations

On The Basis of Vertical:

  • BFSI

  • Government and Defense

  • Healthcare and Life Sciences

  • Manufacturing

  • Retail and Consumer Goods

  • Media and Entertainment

  • Telecommunications and IT

  • Transportation and Logistics

  • Other Verticals

Big Data Analytics Market

REGIONAL ANALYSIS:

In the recent past, North America led the worldwide big data and analytics industry. Over the next few years, the same area is projected to maintain its leadership position in the worldwide big data and analytics industry. This trend may be linked to the area population's quick adoption of wearables, smart connected devices, and smartphones, as well as the presence of well-versed technology suppliers and developers. The Asia Pacific region, on the other hand, is expected to grow significantly in the global big data and analytics market in the coming years, owing to the increasing volume of data generated by fast-paced digitalization, as well as the increasing use of electronic devices and smart networks by businesses in the region.

REGIONAL COVERAGE:

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

KEY PLAYERS:

The major key players are Amazon web services, inc., Fair Isaac Corporation, Hewlett Packard enterprise development lp, international business machines corporation, Microsoft Corporation, Oracle Corporation, SAP SE, SAS institute inc., Tibco software inc., Teradata corporation

Big Data Analytics Market Report Scope:
Report Attributes Details
Market Size in 2021  US$ 158.16 Bn
Market Size by 2028  US$ 302.26 Bn
CAGR   CAGR of 9.72% From 2022 to 2028
Base Year  2021
Forecast Period  2022-2028
Historical Data  2017-2020
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • by Component (Hardware, software, services)
• by Deployment Mode (Cloud, Public Cloud, Private Cloud, Hybrid Cloud, On-premises)
• by Organization Size (Small and Medium-Sized Enterprises and Large Enterprises)
• by Business Function (Finance, Marketing, and Sales, Human Resources, Operations)
• by Industry Vertical (BFSI, Government and Defense, Healthcare and Life Sciences, Manufacturing, Retail, and Consumer Goods, Media and Entertainment, Telecommunications and IT, Transportation and Logistics, Other Verticals)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles Amazon web services, inc., Fair Isaac Corporation, Hewlett Packard enterprise development lp, international business machines corporation, Microsoft Corporation, Oracle Corporation, SAP SE, SAS institute inc., Tibco software inc., Teradata corporation
Key Drivers • The amount of data collected by businesses is growing all the time
• The creation of a vast volume of structured and unstructured data is aided by the falling average selling costs of smart devices
Market Opportunities • The use of technologies such as AI, machine learning, IoT, blockchain, and data analytics is reshaping the big data environment

 


Frequently Asked Questions (FAQ) :

Ans: - The forecast period of the Big Data Analytics market is 2022-2028.

Ans: - The data is prone to mistakes and Legacy systems also have a role, making data consolidation difficult, if not impossible, in a form that is useful for analytics.

Ans: - The segments covered in the Big Data Analytics Market report for the study are on the basis of Components, Deployment Mode, Organization Size, Business Function, and Vertical.

Ans: - The major key players are Amazon web services, inc., Fair Isaac Corporation, Hewlett Packard enterprise development lp, international business machines corporation, Microsoft Corporation, Oracle Corporation, Sap SE, Sas institute inc., Tibco software inc., and Teradata Corporation.

Ans: - Key Stakeholders Considered in the study are Raw material vendors, Regulatory authorities, including government agencies and NGOs, Commercial research, and development (R&D) institutions, Importers and exporters, etc.


Table of Contents

 

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

 

2. Research Methodology

 

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

 

4. Impact Analysis

4.1 COVID 19 Impact Analysis

4.2 Impact of the Ukraine- Russia war

 

5. Value Chain Analysis

 

6. Porter’s 5 forces model

 

7. PEST Analysis

 

8. Big Data Analytics Market Segmentation, by Components

8.1 Hardware

8.2 software

8.3 services

 

9. Big Data Analytics Market Segmentation, by Deployment Mode

9.1 Cloud

9.2 Public Cloud

9.3 Private Cloud

9.4 Hybrid Cloud

9.5 On-premises

 

10. Big Data Analytics Market Segmentation, by Organization Size

10.1 Small and Medium-Sized Enterprises

10.2 Large Enterprises

 

11. Big Data Analytics Market Segmentation, by Business Function

11.1 Finance

11.2 Marketing and Sales

11.3 Human Resources

11.4 Operations

 

12. Big Data Analytics Market Segmentation, by Vertical

12.1 BFSI

12.2 Government and Defense

12.3 Healthcare and Life Sciences

12.4 Manufacturing

12.5 Retail and Consumer Goods

12.6 Media and Entertainment

12.6 Telecommunications and IT

12.7 Transportation and Logistics

12.8 Other Verticals

 

13. Regional Analysis

13.1 Introduction

13.2 North America

13.2.1 USA

13.2.2 Canada

13.2.3 Mexico

13.3 Europe

13.3.1 Germany

13.3.2 UK

13.3.3 France

13.3.4 Italy

13.3.5 Spain

13.3.6 The Netherlands

13.3.7 Rest of Europe

13.4 Asia-Pacific

13.4.1 Japan

13.4.2 South Korea

13.4.3 China

13.4.4 India

13.4.5 Australia

13.4.6 Rest of Asia-Pacific

13.5 The Middle East & Africa

13.5.1 Israel

13.5.2 UAE

13.5.3 South Africa

13.5.4 Rest

13.6 Latin America

13.6.1 Brazil

13.6.2 Argentina

13.6.3 Rest of Latin America

 

14. Company Profiles

14.1 Amazon web services, inc.

14.1.1 Financial

14.1.2 Products/ Services Offered

14.1.3 SWOT Analysis

14.1.4 The SNS view

14.2 Fair Isaac corporation

14.3 Hewlett Packard enterprise development lp

14.4 International business machines corporation

14.5 Microsoft corporation

14.6 Oracle Corporation

14.7 SAP SE

14.8 SAS institute inc.

14.9 Tibco software inc.

14.10 Teradata corporation

 

15. Competitive Landscape

15.1 Competitive Benchmarking

15.2 Market Share Analysis

15.3 Recent Developments

 

16. Conclusion

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of a good and accurate research report and selecting the best methodology to complete the research is the toughest part. Since the research reports, we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach a stage wherein we can provide our clients best and most accurate investment to output ratio.

Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brainstorming sessions to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.

 

The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research as the name suggests is a research process wherein, we collect data through readily available information. In this process, we use various paid and unpaid databases to which our team has access and gather data through the same. This includes examining listed companies’ annual reports, Journals, SEC filling, etc. Apart from this, our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various universities as well as individual libraries.

Secondary Research

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data.  This type of research is focused on gaining content-specific facts that can be sued to solve specific problems. Since the collected data is fresh and first-hand therefore it makes the study more accurate and genuine.

We at SNS Insider have divided Primary Research into 2 parts.

Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply sides of the industry to make sure we land an accurate judgment and analysis of the market.

This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses, and observation of on-field participants. The below-mentioned chart should give a better understanding of part 1 of the primary interview.

Part 2: In this part of the primary research the data collected via secondary research and part 1 of the primary research is validated with the interviews with individual consultants and subject matter experts.

Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.

Step 3: Data Bank Validation

Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence center, our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real-time.

Step 4: QA/QC Process

After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but is not limited to getting rid of the many typos, duplication of numbers, or missing any important information. The people involved in this process include technical content writers, research heads, and graphics people. Once this process is completed the title gets uploaded on our platform for our clients to read it.

Step 5: Final QC/QA Process:

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