The new report by Expert Market Research titled, 'Global Big Data Market Growth, Price, Trends, Analysis, Outlook, Report and Forecast 2021-2026', gives an in-depth analysis of the global big data market, assessing the market based on its segments like component, hardware, deployment mode, organisation size, application, end use, and major regions like Asia Pacific, Europe, North America, Middle East and Africa and Latin America. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.
Note 1: For a snapshot of the primary and secondary data of the market (2016-2026), along with business strategies and detailed market segmentation, please click on the request sample report. The sample report shall be delivered to you within 24 hours.
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The key highlights of the report include:
Market Overview (2021-2026)
• Historical Market Size (2020): USD 208 Billion
• Forecast CAGR (2021-2026): 10%
• Forecast Market Size (2026): USD 450 Billion
The growth of big data market is driven by the growing need for processing and extracting value from vast amount of data being generated. The rising demand by organisations to analyse information regularly for obtaining insights to deliver precise and better decisions and maintain competitive edge is expected to propel the market. Additionally, the increasing demand for cloud based big data analytics software will aid the growth of the market. Moreover, easy access to faster internet and cheaper storage services are expected to further create opportunities. However, high initial implementation cost may constrain the growth in the forecast period.
Industry Definition and Major Segments
Big data is a large set of structured or unstructured data which requires processing, analysis and modelling to extract information. It utilises techniques such as advance optimisation algorithms and machine learning to generate meaningful insights for making decisions.
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The market is divided on the basis of component into:
By hardware, the market is segmented into:
• Network Equipment
The market is categorised in terms of deployment mode into:
The market is divided on the basis of organisation size into:
• Large Enterprises
• Small and Medium-Sized Enterprises
The market is segregated on the basis of application into:
• Customer Analytics
• Operational Analytics
• Data Warehouse Optimisation
The market is segmented on the basis of end use into:
• IT and Telecommunication
• Energy and Power
• Engineering and Construction
The regional markets for big data include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Regionally, North America is the largest shareholder in the global big data market due to presence of vast IT sector and key players. Additionally, the generation of massive amounts of useful data due to increasing adoption of IoT and allied services by industrial sector, is being exploited for extracting key insights and strategies and business decisions to remain competitive. This trend propels the demand for big data market in the region. Meanwhile, the Asia Pacific region is projected to grow at the fastest rate among regional markets for big data, especially in economies such as China, India, South Korea, and Australia, due to rapidly advancing IT sector and industrialisation in the forecast period.
Key Market Players
The major players in the market are IBM Corporation, Oracle Corporation, Microsoft Corporation, Hewlett Packard Enterprise Development LP, SAS Institute Inc., Amazon Web Services, Accenture Plc, and a few others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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