Press Release

Big Data Analytics Market to surpass $ 87 Billion by 2025

Increasing adoption of cloud based big data analytics, enormously increasing data volume, enhanced customer experience and need for effective decision making to drive global big data analytics market

According to TechSci Research report, Global Big Data Analytics Market By Deployment Mode, By Application, By Component, By Organization Size, By End Use Industry, By Region, Competition, Forecast & Opportunities, 2025, the global big data analytics market is forecast to grow at a CAGR of over 12% during the forecast period and reach $ 87 billion by 2025. Big data analytics is defined as the use of advanced analytic techniques to analyze and extract information from large amount of data that may be structured, semi-structured or unstructured. Big data analytics helps organizations in various ways such as detecting fraud, improving productivity, reducing risk, improving customer experience & satisfaction, taking quick actions on emerging market trends, gaining competitive advantages over other industry players, and many more. The growth in big data analytics market is attributed to factors such as need to enhance business efficiency, growing deployment of cloud based big data analytics, coupled with growing utility of IoT analytics. According to Raconteur Media Ltd., in 2019, every day, there are 500 million tweets sent, 4 petabyte data generated by Facebook, 65 billion messages sent on WhatsApp, 2 billion minutes of voice & videos calls on WhatsApp, 95 million photos & videos shared on Instagram, 294 billion emails send, 4 terabyte of data generated by a connected car and 5 billion searches are made including 3.5 billion searches on Google. Moreover, according to World Economic Forum, 463 exabytes of data is expected to be generated each day globally by 2025. Rising need to use such data effectively is expected to drive big data analytics market, globally, in the coming years.

Browse 20 market data Tables and 174 Figures spread through more than 150 Pages and an in-depth TOC on "Global Big Data Analytics Market"

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In terms of Deployment Mode, the market can be segmented into On-Premise, Cloud and Hybrid. On-Premise deployment mode dominated the market in 2019 and is expected to continue dominating the market throughout the forecast period. However, Cloud deployment mode is forecast to grow at a rapid pace during the forecast period owing to multiple benefits offered by cloud deployment mode such as reduced cost of ownership, increased flexibility, scalability and pay-per-use feature. By Organization size, large enterprises dominated the market in 2019 and the trend is expected to continue during the forecast period owing to the increasing adoption of big data analytics to analyze increasing amount of complex data coupled with the growing need for faster and efficient decision making in large setups. However, SMEs  are expected to be the fastest growing organization size segment during the forecast period due to the rising adoption of cloud based big data analytics solutions among them. Big data analytics spend across SMEs is expected to decline due to COVID-19 in 2020 and 2021 as they don’t have established customer base and repeat customer to minimize the loss.

International Business Machine Corporation, Splunk Inc., Amazon Web Services, Inc., Teradata Corporation, Dell Inc., Oracle Corporation, Accenture Inc., Microsoft Corporation, Palantir Technologies Inc. and SAP SE are the major players operating in the global big data analytics market. Companies operating in the market are using organic as well as inorganic strategies such as mergers and collaborations to boost their market share. In February, 2020, Google Cloud announced acquisition of big data analytics startup Looker for an estimated $ 2.6 billion to strengthen its big data analytics portfolio.

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BFSI has been the dominant end use industry in 2019 and is expected to continue leading the global big data analytics market through 2025 owing to the increasing focus on enhancing customer experience, reducing risk of fraudulent activities, among other. However, Manufacturing end use segment is anticipated to grow at the fastest CAGR during the forecast period on account of rising use of big data analytics in predictive maintenance, increasing operational efficiency, production optimization and effective market planning”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

Global Big Data Analytics Market By Deployment Mode, By Application, By Component, By Organization Size, By End Use Industry, By Region, Competition, Forecast & Opportunities, 2025 has evaluated the future growth potential of global big data analytics market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global big data analytics market.

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