Global Big Data Market

Big Data Market Size, Share, Growth Analysis, By Offering(Software, By Type (Big Data Analytics Software (Prescriptive Analytics Tools, Diagnostic Analytics Tools, Descriptive Analytics Tools), By Business Function(Marketing & Sales (Customer Segmentation, Social Media Management, Sales Forecasting, Customer Journey Management), By Data Type(Structured Data, Semi-structured Data, Unstructured Data), By Vertical(BFSI (Algorithmic Trading & Investment Analysis, Customer Churn Prediction & Retention, Credit Scoring & Risk Assessment, Financial Fraud Detection & Prevention), By Region - Industry Forecast 2024-2031

Report ID: SQMIG45A2351 | Region: Global | Published Date: September, 2024
Pages: 214 | Tables: 97 | Figures: 71

Big Data Market Competitive Landscape

Manufacturers are investing heavily in R&D to create integrated big data solutions to be able to offer more capabilities. To have an edge in the competition, purveyors are striving to bring down the cost of hardware for their clients. It is expected that they would focus on venture finance and mergers and acquisitions concerning the technology and the intricate ecosystems in development. The established participants in the industry focus on having a more accurate information base, optimized sales cycle betterment, optimized customer services, and a larger insight into client requirements.

Top Player’s Company Profiles

  • IBM Corporation 
  • Microsoft Corporation 
  • Oracle Corporation 
  • SAP SE 
  • Broadcom Inc. 
  • Alphabet Inc. (Google) 
  • Salesforce.com, Inc. 
  • Cisco Systems, Inc. 
  • Amazon.com, Inc. (AWS) 
  • SAS Institute 
  • Teradata 
  • Accenture 
  • HPE (Hewlett Packard Enterprise) 
  • Alteryx 
  • Informatica 
  • Wipro 
  • Ataccama 
  • Sisense 
  • Imply 
  • Datapine 
  • Fusionex 
  • BigPanda 
  • BigEye 
  • Rivery 
  • Syncari 
  • Firebolt 
  • Happiest Minds Technologies 
  • Centric Consulting

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FAQs

Global Big Data Market size was valued at USD 190.2 billion in 2022 and is poised to grow from USD 220.2 billion in 2023 to USD 573.9 billion by 2031, growing at a CAGR of 12.72% during the forecast period (2024-2031).

Manufacturers are investing heavily in R&D to create integrated big data solutions to be able to offer more capabilities. To have an edge in the competition, purveyors are striving to bring down the cost of hardware for their clients. It is expected that they would focus on venture finance and mergers and acquisitions concerning the technology and the intricate ecosystems in development. The established participants in the industry focus on having a more accurate information base, optimized sales cycle betterment, optimized customer services, and a larger insight into client requirements. 'IBM Corporation ', 'Microsoft Corporation ', 'Oracle Corporation ', 'SAP SE ', 'Broadcom Inc. ', 'Alphabet Inc. (Google) ', 'Salesforce.com, Inc. ', 'Cisco Systems, Inc. ', 'Amazon.com, Inc. (AWS) ', 'SAS Institute ', 'Teradata ', 'Accenture ', 'HPE (Hewlett Packard Enterprise) ', 'Alteryx ', 'Informatica ', 'Wipro ', 'Ataccama ', 'Sisense ', 'Imply ', 'Datapine ', 'Fusionex ', 'BigPanda ', 'BigEye ', 'Rivery ', 'Syncari ', 'Firebolt ', 'Happiest Minds Technologies ', 'Centric Consulting'

The primary driving force in the global big data market is the multiplication of volumes of data that have been rising exponentially over time. This is because such multiplications are caused by multiple sources through which this happens. That is, with the rapid growth firms experienced in social media, IoT devices, online purchases, and other forms of digital interactions, they left themselves with copious amounts of data that could be mined for insightful analysis. To compete, businesses must invest in big data solutions to effectively manage the data and provide various analytics. Advanced analytics could help firms optimize decision-making, augment experiences for clients, and rationalize their operations by following culminated ideas that impact the bottom line of any business, thereby making it stand out dramatically in an increasingly data-centric world. 

Integration of Machine learning and Artificial Intelligence: The big data market view AI and ML as two fast-emerging technologies. Companies are increasingly using more AI and ML algorithms to review large amounts of information and identify trends that might have been missed using more traditional analytical methods. This relationship helps firms make better data-driven decisions rapidly and precisely by enhancing the precision of predictive analytics. There are huge amounts of big data solutions using AI automate data processing jobs. Big data solutions cut labor and raise productivity. Currently, the association of big data with AI and ML will only be more critical for organizations that require better performance and deeper insights in offering it as a disruptive force in many sectors. 

North America leads the majority market share in the big data market, primarily because of developed IT infrastructure and extensive usage of advanced technology in this region. The region benefits from a huge thrust for innovation, as witnessed by the many established entities in the region that are always on the lookout to exploit big data solutions to gain a competitive advantage. This is primarily why major industries, such as banking, healthcare, and retail, keep investing in analytics to enhance decision-making and operational efficiency. The early adoption of big data technology in this region set the precedent for international procedures, enabling it to shape the global big data market. Due to this, North America is at the forefront of the market. 

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Global Big Data Market

Report ID: SQMIG45A2351

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