Big Data Market - Consainsights

01

Executive Summary

Global Big Data Market Size, 2017-2026 (USD Billion)

The global big data market size is expected to grow from USD 150.21 billion in 2021 to USD 261.43 billion by 2027 at a CAGR of 9.7%.

Impact of COVID-19 on Global Big Data Market

The COVID-19 crisis has brought years of change in the way companies in all sectors and regions to conduct business. Companies have accelerated the digitalization of their customer interaction with the supply chain and their internal operations by three to four years. And the share of digital or digital-enabled products in their portfolios has grown by an alarming seven years. funding for digital programs has grown more than anything else. Technology has become an important strategic and important part of the business, not just a source of cost-effectiveness. During the epidemic, consumers have flocked to online channels, and companies and industries have also responded.

Driver: Introduction of open source big data software frameworks

Open source big data analysis refers to the use of open-source software and large data analytics tools to gather important and hosted information that an organization can use to further its business objectives. A major player in analyzing open source big data is Apache's Hadoop. It is a software library that is widely used to process large data sets in a computer database using a distributed compliance process. Hadoop is an open-source application of the MapReduce algorithm developed by Google and Yahoo, so it is the basis of many analytics programs today. Many large data analytics tools use open source, including robust data systems such as open MongoDB, a complex and scalable NoSQL website suitable for large data applications, and more.

Restraint: Lack of skilled workforce

Lack of skills is a constant headache for CIOs everywhere, especially if you want to develop high-quality big data, statistics, and AI programs. This has a profound effect on all organizations, as two-thirds of IT leaders say they are preventing them from keeping pace with the pace of change. Companies such as Amazon Web Services (AWS), Google, Microsoft, IBM, and others build voice recognition applications, image classification, face recognition, and more that are available for cloud rental without a long-term commitment. One example is Google AutoML. Google systems automatically create a machine learning model from client-uploaded content. Instead of in-house teams spending a lot of time developing algorithms that require the best solution, this and similar services developed by other organizations can save time and reduce pressure on resources.

Opportunity: Incorporation of AI, IoT, and blockchain with big data

Overall, the need for big data extends to all sectors and businesses. Those who work to understand their customers' business and problems will be able to quickly identify large-scale data solutions that fit their needs and thus gain a more competitive advantage than their competitors. The demand for high-tech jobs is also increasing, especially in the technical, scientific, and technological fields; information Technology; production; finance and insurance; and retail. DevOps has no foundation outside the cloud. IoT needs a cloud to work properly because computer programming requires a well-functioning cloud. AI remained a model until big data came along. Blockchain and distributed ledger technology are disrupting the technology sector.

Challenge: Privacy and data security concerns

Businesses use big data analysis to identify business opportunities, improve performance, and promote decision-making. Many big data tools are open source and not designed for mental security. Significant increases in data usage lead to many data security problems. The consequences of information theft can be even worse if organizations keep sensitive or confidential information such as credit card numbers or customer information. They may face fines for failing to meet basic data security measures to comply with data loss protection and privacy guidelines such as the General Data Protection Regulation (GDPR).

Among solutions, the big data analytics segment to grow with the highest CAGR during the forecast period

Big data analysis is often a complex process of analyzing big data to reveal information, such as hidden patterns, relationships, market trends, and customer preferences that can help organizations make informed business decisions. To a large extent, technology and data analysis techniques provide organizations with a way to analyze data sets and gather new information. Business intelligence (BI) answers basic questions about business performance and performance. Big data analysis is an advanced form of analysis, which includes complex applications with features such as speculative models, mathematical algorithms, and analytics that, if enabled, are analytical systems.

By deployment mode, Cloud segment to grow with higher CAGR than on-premises during the forecast period

While there are benefits to big data, the sheer number of computer services and software services needed to support large-scale data efforts may put pressure on finance and business intelligence even for large businesses. The cloud has made great strides in meeting the demand for big data. It can provide virtually unlimited computer services and services that make big data efforts possible in any business. Big data and cloud computing are two very different ideas, but these two concepts are so closely intertwined.

North America to account for the largest share during the forecast period

Increased adoption of large data analytics software by many organizations, increased demand for large cloud-based data analysis software among SMEs, and the many benefits offered by big data and business statistics solutions drive the growth of North America’s big data market. On the other hand, higher operating costs and a shortage of skilled workers hamper growth. However, emerging trends such as social media analysis are expected to create profitable opportunities in the industry. The tendency to work from home has led to many data analysis opportunities, thus having a positive impact on the North American big data market. This trend is likely to continue even after the epidemic, as organizations have begun implementing business statistics solutions to improve data security and simplify business productivity in a better way.

Key Players

The major players operating in the global big data market are IBM (US), Teradata (US), Microsoft (US), Oracle (US), SAS Institute (US), Google (US), SAP (Germany), Adobe (US), Talend (US), Informatica (US), Qlik (US), TIBCO Software (US), Salesforce (US), Alteryx (US), Sisense (US), Cloudera (US), Palantir Technologies (US), 1010data (US), Hitachi Vantara (US), Fusionex (Malaysia), Splunk (US), Information Builders (US), AWS (US), Micro Focus (UK), HPE (US), MicroStrategy (US), Yellowfin (Australia), and ThoughtSpot (US).

Revenue Share (%), By Component (2019)
Revenue Share (%), By Deployment Mode (2019)
Revenue Share (%), By Organization Size (2019)
Revenue Share (%), By Business Function (2019)
Revenue Share (%), By Industry Vertical (2019)
Revenue Share (%), By Region (2019)

02

Market Overview

The base currency considered was the US Dollar (USD). Conversion of other currencies to USD was considered on the basis of the average exchange rate for the respective review-period years. The exchange rate conversion for forecast period was determined according to the base year’s conversion rates.
The base year was identified based on the availability of annual reports and secondary information. The base year considered for this study is 2027.
The review period considered for this study is from 2018-2027. The CAGR is for the forecast period, 2022-2027.
Market size estimations for the forecast years were in real terms. Inflation is not part of the pricing, and the average selling price (ASP) was kept constant throughout the forecast period for each country.
Distribution of primary interviews conducted was based on the regional share of the market and the presence of key players in each region.
As a result of data triangulation through multiple methodologies and approaches, the weighted averages of resulting estimates were considered to be the final values.

The currency used in this report is USD, with the market size indicated in terms of USD million/billion.
For companies reporting their revenues in USD, the revenues were taken from their respective annual reports/SEC filings.
For companies reporting their revenues in other currencies, the average annual currency conversion rates were used for a particular year to convert the value to USD Market Definition.

03

By Organization Size

By Organization Size, The global Big Data Market analysis covers Large Enterprises, Organization Size: Big Data Market Drivers, Small and Medium-Sized Enterprises.

The Large Enterprises segment market was valued at US$ XX Mn in 2019 and grown at XX% CAGR over the historic years (2019 - 2027) to reach US$ XX Mn and is projected to grow at XX% CAGR over the forecast period to reach US$ XX Mn by 2027. The market represented the US$ XX Mn opportunity over 2019 - 2027 and estimated to create US$ XX Mn opportunity over 2019 - 2027.

Large Enterprises: global Big Data Market Revenue Opportunity (Us$ Mn)

The Organization Size: Big Data Market Drivers segment market was valued at US$ XX Mn in 2019 and grown at XX% CAGR over the historic years (2019 - 2027) to reach US$ XX Mn and is projected to grow at XX% CAGR over the forecast period to reach US$ XX Mn by 2027. The market represented the US$ XX Mn opportunity over 2019 - 2027 and estimated to create US$ XX Mn opportunity over 2019 - 2027.

Organization Size: Big Data Market Drivers: global Big Data Market Revenue Opportunity (Us$ Mn)

The Small and Medium-Sized Enterprises segment market was valued at US$ XX Mn in 2019 and grown at XX% CAGR over the historic years (2019 - 2027) to reach US$ XX Mn and is projected to grow at XX% CAGR over the forecast period to reach US$ XX Mn by 2027. The market represented the US$ XX Mn opportunity over 2019 - 2027 and estimated to create US$ XX Mn opportunity over 2019 - 2027.

Small and Medium-Sized Enterprises: global Big Data Market Revenue Opportunity (Us$ Mn)

04

By Region

By Region, The global Big Data Market analysis covers Asia Pacific, Europe, Latin America, Middle East and Africa, North America.

The Asia Pacific segment market was valued at US$ XX Mn in 2019 and grown at XX% CAGR over the historic years (2019 - 2027) to reach US$ XX Mn and is projected to grow at XX% CAGR over the forecast period to reach US$ XX Mn by 2027. The market represented the US$ XX Mn opportunity over 2019 - 2027 and estimated to create US$ XX Mn opportunity over 2019 - 2027.

Asia Pacific: global Big Data Market Revenue Opportunity (Us$ Mn)

The Europe segment market was valued at US$ XX Mn in 2019 and grown at XX% CAGR over the historic years (2019 - 2027) to reach US$ XX Mn and is projected to grow at XX% CAGR over the forecast period to reach US$ XX Mn by 2027. The market represented the US$ XX Mn opportunity over 2019 - 2027 and estimated to create US$ XX Mn opportunity over 2019 - 2027.

Europe: global Big Data Market Revenue Opportunity (Us$ Mn)

The Latin America segment market was valued at US$ XX Mn in 2019 and grown at XX% CAGR over the historic years (2019 - 2027) to reach US$ XX Mn and is projected to grow at XX% CAGR over the forecast period to reach US$ XX Mn by 2027. The market represented the US$ XX Mn opportunity over 2019 - 2027 and estimated to create US$ XX Mn opportunity over 2019 - 2027.

Latin America: global Big Data Market Revenue Opportunity (Us$ Mn)

The Middle East and Africa segment market was valued at US$ XX Mn in 2019 and grown at XX% CAGR over the historic years (2019 - 2027) to reach US$ XX Mn and is projected to grow at XX% CAGR over the forecast period to reach US$ XX Mn by 2027. The market represented the US$ XX Mn opportunity over 2019 - 2027 and estimated to create US$ XX Mn opportunity over 2019 - 2027.

Middle East and Africa: global Big Data Market Revenue Opportunity (Us$ Mn)

The North America segment market was valued at US$ XX Mn in 2019 and grown at XX% CAGR over the historic years (2019 - 2027) to reach US$ XX Mn and is projected to grow at XX% CAGR over the forecast period to reach US$ XX Mn by 2027. The market represented the US$ XX Mn opportunity over 2019 - 2027 and estimated to create US$ XX Mn opportunity over 2019 - 2027.

North America: global Big Data Market Revenue Opportunity (Us$ Mn)

05

By Industry Vertical

By Industry Vertical, The global Big Data Market analysis covers Banking, Financial Services, and Insurance, Big Data: Enterprise use Cases, Government and Defense, Healthcare and Life Sciences, Industry Vertical: Big Data Market Drivers, Manufacturing, Media and Entertainment, Others, Retail and Consumer Goods, Telecommunications and Information Technology, Transportation and Logistics.

The Banking, Financial Services, and Insurance segment market was valued at US$ XX Mn in 2019 and grown at XX% CAGR over the historic years (2019 - 2027) to reach US$ XX Mn and is projected to grow at XX% CAGR over the forecast period to reach US$ XX Mn by 2027. The market represented the US$ XX Mn opportunity over 2019 - 2027 and estimated to create US$ XX Mn opportunity over 2019 - 2027.

Banking, Financial Services, and Insurance: global Big Data Market Revenue Opportunity (Us$ Mn)

The Big Data: Enterprise use Cases segment market was valued at US$ XX Mn in 2019 and grown at XX% CAGR over the historic years (2019 - 2027) to reach US$ XX Mn and is projected to grow at XX% CAGR over the forecast period to reach US$ XX Mn by 2027. The market represented the US$ XX Mn opportunity over 2019 - 2027 and estimated to create US$ XX Mn opportunity over 2019 - 2027.

Big Data: Enterprise use Cases: global Big Data Market Revenue Opportunity (Us$ Mn)

The Government and Defense segment market was valued at US$ XX Mn in 2019 and grown at XX% CAGR over the historic years (2019 - 2027) to reach US$ XX Mn and is projected to grow at XX% CAGR over the forecast period to reach US$ XX Mn by 2027. The market represented the US$ XX Mn opportunity over 2019 - 2027 and estimated to create US$ XX Mn opportunity over 2019 - 2027.

Government and Defense: global Big Data Market Revenue Opportunity (Us$ Mn)

The Healthcare and Life Sciences segment market was valued at US$ XX Mn in 2019 and grown at XX% CAGR over the historic years (2019 - 2027) to reach US$ XX Mn and is projected to grow at XX% CAGR over the forecast period to reach US$ XX Mn by 2027. The market represented the US$ XX Mn opportunity over 2019 - 2027 and estimated to create US$ XX Mn opportunity over 2019 - 2027.

Healthcare and Life Sciences: global Big Data Market Revenue Opportunity (Us$ Mn)

The Industry Vertical: Big Data Market Drivers segment market was valued at US$ XX Mn in 2019 and grown at XX% CAGR over the historic years (2019 - 2027) to reach US$ XX Mn and is projected to grow at XX% CAGR over the forecast period to reach US$ XX Mn by 2027. The market represented the US$ XX Mn opportunity over 2019 - 2027 and estimated to create US$ XX Mn opportunity over 2019 - 2027.

Industry Vertical: Big Data Market Drivers: global Big Data Market Revenue Opportunity (Us$ Mn)

The Manufacturing segment market was valued at US$ XX Mn in 2019 and grown at XX% CAGR over the historic years (2019 - 2027) to reach US$ XX Mn and is projected to grow at XX% CAGR over the forecast period to reach US$ XX Mn by 2027. The market represented the US$ XX Mn opportunity over 2019 - 2027 and estimated to create US$ XX Mn opportunity over 2019 - 2027.

Manufacturing: global Big Data Market Revenue Opportunity (Us$ Mn)

The Media and Entertainment segment market was valued at US$ XX Mn in 2019 and grown at XX% CAGR over the historic years (2019 - 2027) to reach US$ XX Mn and is projected to grow at XX% CAGR over the forecast period to reach US$ XX Mn by 2027. The market represented the US$ XX Mn opportunity over 2019 - 2027 and estimated to create US$ XX Mn opportunity over 2019 - 2027.

Media and Entertainment: global Big Data Market Revenue Opportunity (Us$ Mn)

The Others segment market was valued at US$ XX Mn in 2019 and grown at XX% CAGR over the historic years (2019 - 2027) to reach US$ XX Mn and is projected to grow at XX% CAGR over the forecast period to reach US$ XX Mn by 2027. The market represented the US$ XX Mn opportunity over 2019 - 2027 and estimated to create US$ XX Mn opportunity over 2019 - 2027.

Others: global Big Data Market Revenue Opportunity (Us$ Mn)

The Retail and Consumer Goods segment market was valued at US$ XX Mn in 2019 and grown at XX% CAGR over the historic years (2019 - 2027) to reach US$ XX Mn and is projected to grow at XX% CAGR over the forecast period to reach US$ XX Mn by 2027. The market represented the US$ XX Mn opportunity over 2019 - 2027 and estimated to create US$ XX Mn opportunity over 2019 - 2027.

Retail and Consumer Goods: global Big Data Market Revenue Opportunity (Us$ Mn)

The Telecommunications and Information Technology segment market was valued at US$ XX Mn in 2019 and grown at XX% CAGR over the historic years (2019 - 2027) to reach US$ XX Mn and is projected to grow at XX% CAGR over the forecast period to reach US$ XX Mn by 2027. The market represented the US$ XX Mn opportunity over 2019 - 2027 and estimated to create US$ XX Mn opportunity over 2019 - 2027.

Telecommunications and Information Technology: global Big Data Market Revenue Opportunity (Us$ Mn)

The Transportation and Logistics segment market was valued at US$ XX Mn in 2019 and grown at XX% CAGR over the historic years (2019 - 2027) to reach US$ XX Mn and is projected to grow at XX% CAGR over the forecast period to reach US$ XX Mn by 2027. The market represented the US$ XX Mn opportunity over 2019 - 2027 and estimated to create US$ XX Mn opportunity over 2019 - 2027.

Transportation and Logistics: global Big Data Market Revenue Opportunity (Us$ Mn)

06

By Deployment Mode

By Deployment Mode, The global Big Data Market analysis covers Cloud, Deployment Mode: Big Data Market Drivers, On-Premises.

The Cloud segment market was valued at US$ XX Mn in 2019 and grown at XX% CAGR over the historic years (2019 - 2027) to reach US$ XX Mn and is projected to grow at XX% CAGR over the forecast period to reach US$ XX Mn by 2027. The market represented the US$ XX Mn opportunity over 2019 - 2027 and estimated to create US$ XX Mn opportunity over 2019 - 2027.

Cloud: global Big Data Market Revenue Opportunity (Us$ Mn)

The Deployment Mode: Big Data Market Drivers segment market was valued at US$ XX Mn in 2019 and grown at XX% CAGR over the historic years (2019 - 2027) to reach US$ XX Mn and is projected to grow at XX% CAGR over the forecast period to reach US$ XX Mn by 2027. The market represented the US$ XX Mn opportunity over 2019 - 2027 and estimated to create US$ XX Mn opportunity over 2019 - 2027.

Deployment Mode: Big Data Market Drivers: global Big Data Market Revenue Opportunity (Us$ Mn)

The On-Premises segment market was valued at US$ XX Mn in 2019 and grown at XX% CAGR over the historic years (2019 - 2027) to reach US$ XX Mn and is projected to grow at XX% CAGR over the forecast period to reach US$ XX Mn by 2027. The market represented the US$ XX Mn opportunity over 2019 - 2027 and estimated to create US$ XX Mn opportunity over 2019 - 2027.

On-Premises: global Big Data Market Revenue Opportunity (Us$ Mn)

07

By Component

By Component, The global Big Data Market analysis covers Component: Big Data Market Drivers, Services, Solutions.

The Component: Big Data Market Drivers segment market was valued at US$ XX Mn in 2019 and grown at XX% CAGR over the historic years (2019 - 2027) to reach US$ XX Mn and is projected to grow at XX% CAGR over the forecast period to reach US$ XX Mn by 2027. The market represented the US$ XX Mn opportunity over 2019 - 2027 and estimated to create US$ XX Mn opportunity over 2019 - 2027.

Component: Big Data Market Drivers: global Big Data Market Revenue Opportunity (Us$ Mn)

The Services segment market was valued at US$ XX Mn in 2019 and grown at XX% CAGR over the historic years (2019 - 2027) to reach US$ XX Mn and is projected to grow at XX% CAGR over the forecast period to reach US$ XX Mn by 2027. The market represented the US$ XX Mn opportunity over 2019 - 2027 and estimated to create US$ XX Mn opportunity over 2019 - 2027.

Services: global Big Data Market Revenue Opportunity (Us$ Mn)

The Solutions segment market was valued at US$ XX Mn in 2019 and grown at XX% CAGR over the historic years (2019 - 2027) to reach US$ XX Mn and is projected to grow at XX% CAGR over the forecast period to reach US$ XX Mn by 2027. The market represented the US$ XX Mn opportunity over 2019 - 2027 and estimated to create US$ XX Mn opportunity over 2019 - 2027.

Solutions: global Big Data Market Revenue Opportunity (Us$ Mn)

08

By Business Function

By Business Function, The global Big Data Market analysis covers Business Function: Big Data Market Drivers, Finance, Human Resources, Marketing and Sales, Operations.

The Business Function: Big Data Market Drivers segment market was valued at US$ XX Mn in 2019 and grown at XX% CAGR over the historic years (2019 - 2027) to reach US$ XX Mn and is projected to grow at XX% CAGR over the forecast period to reach US$ XX Mn by 2027. The market represented the US$ XX Mn opportunity over 2019 - 2027 and estimated to create US$ XX Mn opportunity over 2019 - 2027.

Business Function: Big Data Market Drivers: global Big Data Market Revenue Opportunity (Us$ Mn)

The Finance segment market was valued at US$ XX Mn in 2019 and grown at XX% CAGR over the historic years (2019 - 2027) to reach US$ XX Mn and is projected to grow at XX% CAGR over the forecast period to reach US$ XX Mn by 2027. The market represented the US$ XX Mn opportunity over 2019 - 2027 and estimated to create US$ XX Mn opportunity over 2019 - 2027.

Finance: global Big Data Market Revenue Opportunity (Us$ Mn)

The Human Resources segment market was valued at US$ XX Mn in 2019 and grown at XX% CAGR over the historic years (2019 - 2027) to reach US$ XX Mn and is projected to grow at XX% CAGR over the forecast period to reach US$ XX Mn by 2027. The market represented the US$ XX Mn opportunity over 2019 - 2027 and estimated to create US$ XX Mn opportunity over 2019 - 2027.

Human Resources: global Big Data Market Revenue Opportunity (Us$ Mn)

The Marketing and Sales segment market was valued at US$ XX Mn in 2019 and grown at XX% CAGR over the historic years (2019 - 2027) to reach US$ XX Mn and is projected to grow at XX% CAGR over the forecast period to reach US$ XX Mn by 2027. The market represented the US$ XX Mn opportunity over 2019 - 2027 and estimated to create US$ XX Mn opportunity over 2019 - 2027.

Marketing and Sales: global Big Data Market Revenue Opportunity (Us$ Mn)

The Operations segment market was valued at US$ XX Mn in 2019 and grown at XX% CAGR over the historic years (2019 - 2027) to reach US$ XX Mn and is projected to grow at XX% CAGR over the forecast period to reach US$ XX Mn by 2027. The market represented the US$ XX Mn opportunity over 2019 - 2027 and estimated to create US$ XX Mn opportunity over 2019 - 2027.