BANGALORE, India, June 3, 2020 /PRNewswire/ -- In many organisations, business analytics focuses on one core metric, and that is the organization's financial and operational analytics. On the other hand, 'Big Data' helps in storage, retrieval and analysis of large and complex data there by automating business analytics by identifying trends from a wider variety of data coming in from all directions and letting the organization make better data driven decisions.
The global Big Data and Business Analytics Market size was valued at $171.39 Billion in 2018 and is projected to reach $512.04 Billion by 2026, growing at a CAGR of 14.80 percent between 2019 and 2026.
TRENDS INFLUENCING THE BIG DATA AND BUSINESS ANALYTICS MARKET SIZE
- Factors including the decrease in the technology cost and the emergence of open source big data software systems drive market growth.
- Sustaining without business analytics in an increasingly competitive environment is no longer easier for companies, and gathering knowledge about the past data to predict the future outcome is also not easy without analytics. Therefore, Big Data and Business Analytics plays a key role in rising organizational productivity and maximizing capital. This feature is expected to increase the Big Data and Business Analytics market size over the forecast period.
- Big Data applications in the conventional on-premise environment, can be difficult to implement and manage. Add to this, the exponential growth of data along with the cost of implementing these technologies can be a huge burden. In such scenarios, the cloud can help alleviate some of these hurdles. Cloud's promise of agility, scale, and flexibility, combined with the incredible insights powered by BDA, is expected to increase the Big Data and Business Analytics market size.
- Augmented analytics will be a key factor in increasing the Big Data and Business Analytics market size by 2020. Augmented analytics automates the discovery and surfacing of the most relevant market trends to improve decision-making.
- Increased use of commercial AI and ML will help speed up the growth of Big Data and Business Analytics market size during the forecast period. Today, open-source systems dominate artificial intelligence (AI ) and machine learning and are the main source of creativity in algorithms and development environments.
Big Data And Business Analytics Market Share Analysis
- During the forecast period, the big data analytics segment is projected to hold the largest market share. Big data solutions allow for more accurate segmentation of potential customers and encourage a deeper understanding of those customers, their desires, and motives by analyzing the data generated from various sources, such as social media, call logs, and service types. Big data solutions enable data experts to understand complex patterns, such as identifying opportunities for financial growth, financial benchmarking against industry standards, and identifying financial implications.
- In terms of region, North America dominated the Big Data and Business Analytics market share in 2018 and is expected to maintain its position over the forecast period. The main factors driving market growth in this area include growing the adoption of cloud services among various vertical industries and higher adoption of advanced analytics solutions among SMEs.
- However, due to the advancement of the banking & insurance industry and the penetration of emerging technologies like IoT and big data, Asia-Pacific is expected to experience the highest growth rate during the forecast period.
BIG DATA AND BUSINESS ANALYTICS KEY MARKET SEGMENTS:
By Deployment Mode
By Analytics Tools
- Dashboard & Data Visualization
- Self-Service Tools
- Data Mining & Warehousing
- Customer Analytics
- Supply Chain Analytics
- Marketing Analytics
- Pricing Analytics
- Spatial Analytics
- Workforce Analytics
- Risk & Credit Analytics
- Transportation Analytics
By Industry Vertical
- Energy & Utility
- Retail & Consumer Goods
- IT & Telecom
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East
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Key Market Players
- IBM Corporation
- Oracle Corporation
- Microsoft Corporation
- SAP SE
- Fair Isaac Corporation
- SAS Institute Inc.
- TIBCO Software Inc.
- Teradata Corporation
- Amazon Web Services
- Hewlett Packard Enterprise Development LP
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- Big Data Market Report
The big data market's major growth drivers include growing awareness among organizations for the Internet of Things ( IoT) application, growing the availability of data across the enterprise to obtain deeper insights, and increasing government investments in different regions to improve digital technologies.
Continued use of big data will impact the way business intelligence is perceived and used by organizations. Some big data trends involve new concepts, while others mix and merge different Big Data-based technologies. For example, machine learning is being merged with analytics and voice responses while working in real-time. Another example is combining blockchain with the internet of things (IoT).
- Big Data Security Market
The Global Big Data Protection Market size was USD 14.540 Billion in 2019 and is projected to hit USD 27.790 Billion by the end of 2026, with a CAGR of 9.6 percent in 2021-2026.
This report focuses on the global status of Big Data Security, future projections, opportunities for growth, key market, and key players. The purpose of this study is to present the growth of Big Data Protection in North America, Europe, China, Japan, Southeast Asia, India, and Central & South America.
- Big Data in Oil and Gas Market Report
With over more than a quarter of the total Big Data in Oil and Gas Market share, North America is expected to be the dominant region during the forecast period. Europe is also expected to see significant demand over the forecast period as the administrative and government sectors are increasingly focused on scaling up operational performance and rising utilization.
The Asia Pacific is expected to be one of the fastest-growing big data markets in light of various developments in emerging economies like India and China, which are expected to turn to big data for making any kind of strategic decisions.
This report studies the size of the global Big Data market in oil and gas, the status and prediction of the industry, the competitive landscape, and the opportunities for growth. This research report categorizes the global oil and gas Big Data market by companies, country, size, and end-use industries.
- Big Data Analytics in Healthcare Market Report
In 2017, the global Big Data Analytics in Healthcare Market size was US$ 11.900 Billion and was projected to hit US$ 48.500 Billion by the end of 2025, with a CAGR of 19.2 percent in 2018-2025.
Technological advancements and the widespread usage of cloud computing systems led to the acceptance of big data analytics in North America's healthcare industry. Increasing the adoption of big data analytics for healthcare-related applications, such as cost-effective medication, population health insurance planning, and diagnostic approaches in the
Asia-Pacific region, has also encouraged vendors to invest in big data analytics in the healthcare market for product development.
- Big Data As A Service Market report
Global big data as a service market size in 2018 was estimated at USD 4.99 Billion and is expected to hit USD 61.42 Billion by 2026, representing a 36.9 percent CAGR from 2019 to 2026.
Big Data as a Service (BDaaS) is a cloud-based platform that provides organizations with end-to-end big data solutions on their request. BDaaS can be specified as the combined structure of Hadoop-as-a-Service (HaaS), Data-as-a-Service ( DaaS), and Data Analytics-as-a-Service ( DAaaS).
As cloud-based data analytics tools are increasingly used, the global Big Data as a Service (BDaaS) market is expected to see significant growth in the coming years.
- Cloud-based Big Data Market
This study focuses on the status of Cloud-based Big Data Market size, future outlook, growth potential, key industry, and key players. The objective of the analysis is to present the software products of the Cloud-based Big Data Market in North America, Europe, China, Japan, Southeast Asia, India, and Central & South America.
- SME Big Data Market
This study focuses on the global status of big data for small and medium-sized enterprises, future projections, growth potential, key industry, and key players. The aims of the study are to present the growth of SME Big Data in North America, Europe, China, Japan, Southeast Asia, India, and Central & South America.
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