Thursday 3 June 2021

Big Data Market 2021 Competitive Landscape, Opportunities and Forecast to 2027

Global Big Data Market - Overview

The Big Data Market is projected to grow at a CAGR of 13.35% during the forecast period. As per the big data market research report, the global market for big data is projected to grow swiftly by US$81,500 million by 2023.

According to analysts, increased internet penetration as well as growing adoption across enterprises will drive the market growth during the forecast period. The big data market research report offers a comprehensive analysis of the global big data market and its component, deployment, organization, technology, and end user segments. The privacy and security concerns along with the high cost of implementation are the elements that could influence the big data market advancement throughout the forecast period. The big data market research report by expert analysts is developed to assist organizations in the big data market.

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Market Segmentation

The global big data market has been segmented based on component, deployment, organization, technology, and end user.

On the basis of components, the market for big data is segmented based on hardware, software, and service. Additionally, the market on the basis of deployment, is segmented into on-premise and on-cloud. The global market for big data is also covered based on the organization segment which is further split into SMEs and large enterprises.

On the basis of technology, the market for big data is segmented based on data mining, Hadoop, machine learning, natural language processing, NoSOL, predictive analytics, stream processing, and MPAD. Additionally, the market on the basis of end users is segmented into BFSI, energy and utilities, government, healthcare, IT, manufacturing, retail, telecommunications, transportation, and others.

Major elements such as growing concerns about privacy and information security  could obstruct the big data market growth. However, according to the big data market research report, the rising awareness about IoT devices along with the growing need for cloud big data technologies will propel growth throughout the forecast period. The big data market is set to register growth at a high CAGR owing to these key factors. The exploration of component, deployment, organization, technology, and end user segments along with regional markets has been given in the global big data market research report. The research analysts studying the big data market have put out market forecasts in the big data market research report in order to support big data market-based companies. The big data market research report provides an extensive understanding of the big data market based on the information and forecasts till 2023.

Regional Overview

North America, Europe, Asia Pacific and the rest of the world regional market for big data are predominantly covered in the global big data market research report. Country-level big data markets spread across North America – the United States, Canada, and Mexico are also covered in the report. In South America – Brazil and other country-level big data markets are covered in the report. In Asia-Pacific (APAC) region, the country-level big data markets covered are Japan, India, China, and others. The big data market research report also explores the regional market for big data present in Europe in the United Kingdom, France, Italy, Spain, and Germany, etc. The big data market research report also covers regional markets from the rest of the world alongside big data markets of Africa and the Middle East.

Competitive Landscape

Growing numbers of enterprises strengthening their IT infrastructure are presumed to drive the big data market growth worldwide. The global big data market could be challenged by vulnerabilities and liabilities, nevertheless, organizations in the big data market will carry the growth rate forward. The big data market research report presents company profiles of major companies active in the big data market globally. Furthermore, the global big data market report offers an all-inclusive analysis of the market collected from the big data market’s primary and secondary sources covering both decision makers and thought leaders. The big data market research report highlights such key areas assisting businesses operating in the big data market to build better growth strategies.

Industry News

Databricks, a start-up whose software helps businesses process vast sets of data quickly and get it ready for analysis, said it raised $1 billion in new cash on Monday, including from a few influential corporate investors. According to one statement, Amazon Web Services, Alphabet's CapitalG venture arm and Salesforce Ventures all joined in. Microsoft, which previously invested in Databricks, is also involved in the new round, the declaration said. The deal, priced at $28 billion by Databricks, indicates that the top three U.S. cloud companies understand that the business represents an opportunity close to Snowflake, another cloud computing company that helps businesses manage data.

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