The global big data and business analytics (BDA) market was valued at 168.8 billion U.S. dollars in 2018 and is forecast to grow to 215.7 billion U.S. dollars by 2021. In 2021, more than half of BDA spending will go towards services. IT services is projected to make up around 85 billion U.S. dollars, and business services will account for the remainder. Big data High volume, high velocity and high variety: one or more of these characteristics is used to define big data, the kind of data sets that are too large or too complex for traditional data processing applications. Fast-growing mobile data traffic, cloud computing traffic, as well as the rapid development of technologies such as artificial intelligence (AI) and the Internet of Things (IoT) all contribute to the increasing volume and complexity of data sets. For example, connected IoT devices are projected to generate 79.4 ZBs of data in 2025. Business analytics Advanced analytics tools, such as predictive analytics and data mining, help to extract value from the data and generate business insights. The size of the business intelligence and analytics software application market is forecast to reach around 16.5 billion U.S. dollars in 2022. Growth in this market is driven by a focus on digital transformation, a demand for data visualization dashboards, and an increased adoption of cloud.
Big Data as a Service Market Size 2024-2028
The big data as a service market size is forecast to increase by USD 41.20 billion at a CAGR of 28.45% between 2023 and 2028.
The market is experiencing significant growth due to the increasing volume of data and the rising demand for advanced data insights. Machine learning algorithms and artificial intelligence are driving product quality and innovation in this sector. Hybrid cloud solutions are gaining popularity, offering the benefits of both private and public cloud platforms for optimal data storage and scalability. Industry standards for data privacy and security are increasingly important, as large amounts of data pose unique risks. The BDaaS market is expected to continue its expansion, providing valuable data insights to businesses across various industries.
What will be the Big Data as a Service Market Size During the Forecast Period?
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Big Data as a Service (BDaaS) has emerged as a game-changer in the business world, enabling organizations to harness the power of big data without the need for extensive infrastructure and expertise. This service model offers various components such as data management, analytics, and visualization tools, enabling businesses to derive valuable insights from their data. BDaaS encompasses several key components that drive market growth. These include Business Intelligence (BI), Data Science, Data Quality, and Data Security. BI provides organizations with the ability to analyze data and gain insights to make informed decisions.
Data Science, on the other hand, focuses on extracting meaningful patterns and trends from large datasets using advanced algorithms. Data Quality is a critical component of BDaaS, ensuring that the data being analyzed is accurate, complete, and consistent. Data Security is another essential aspect, safeguarding sensitive data from cybersecurity threats and data breaches. Moreover, BDaaS offers various data pipelines, enabling seamless data integration and data lifecycle management. Network Analysis, Real-time Analytics, and Predictive Analytics are other essential components, providing businesses with actionable insights in real-time and enabling them to anticipate future trends. Data Mining, Machine Learning Algorithms, and Data Visualization Tools are other essential components of BDaaS.
How is this market segmented and which is the largest segment?
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
Type
Data analytics-as-a-Service
Hadoop-as-a-service
Data-as-a-service
Deployment
Public cloud
Hybrid cloud
Private cloud
Geography
North America
Canada
US
APAC
China
Europe
Germany
UK
South America
Middle East and Africa
By Type Insights
The data analytics-as-a-service segment is estimated to witness significant growth during the forecast period.
Big Data as a Service (BDaaS) is a significant market segment, highlighted by the availability of Hadoop-as-a-Service solutions. These offerings enable businesses to access essential datasets on-demand without the burden of expensive infrastructure. DAaaS solutions facilitate real-time data analysis, empowering organizations to make informed decisions. The DAaaS landscape is expanding rapidly as companies acknowledge its value in enhancing internal data. Integrating DAaaS with big data systems amplifies analytics capabilities, creating a vibrant market landscape. Organizations can leverage diverse datasets to gain a competitive edge, driving the growth of the global BDaaS market. In the context of digital transformation, cloud computing, IoT, and 5G technologies, BDaaS solutions offer optimal resource utilization.
However, regulatory scrutiny poses challenges, necessitating stringent data security measures. Retail and other industries stand to benefit significantly from BDaaS, particularly with distributed computing solutions. DAaaS adoption is a strategic investment for businesses seeking to capitalize on the power of external data for valuable insights.
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The Data analytics-as-a-Service segment was valued at USD 2.59 billion in 2018 and showed a gradual increase during the forecast period.
Regional Analysis
North America is estimated to contribute 35% to the growth of the global market during the forecast period.
Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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Big Data as a Service Market analysis, North America is experiencing signif
Big Data Market Size 2024-2028
The big data market size is forecast to increase by USD 508.73 billion at a CAGR of 21.46% between 2023 and 2028.
The market is experiencing significant growth due to the growth in data generation from various sources, including IoT platforms and digital transformation services. This data deluge presents opportunities for businesses to leverage advanced analytics tools for applications such as fraud detection and prevention, workforce analytics, and business intelligence. However, the increasing adoption of big data implementation also brings challenges, including the need for data security and privacy measures. Quantum computing and blockchain technology are emerging trends In the big data landscape, offering potential solutions to complex data processing and security issues. In healthcare analytics, data protection regulations are driving the need for secure data management and sharing.
Additionally, supply chain optimization is another area where big data can bring significant value, enabling real-time monitoring and predictive analytics. Overall, the market is poised for continued growth, driven by the need to extract valuable insights from the vast amounts of data being generated.
What will be the Size of the Big Data Market During the Forecast Period?
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The market is experiencing growth as businesses increasingly leverage information from vast datasets to drive strategic decision-making, enhance customer experiences, and improve operational efficiency. The digital revolution has led to an exponential increase in data creation, fueling demand for advanced analytics capabilities, real-time processing, and data protection and privacy solutions. Hardware and software companies offer on-premise and cloud-based systems to accommodate various industry needs, including customer analytics in retail and e-commerce, supply chain analytics in manufacturing, marketing analytics, pricing analytics, spatial analytics, workforce analytics, risk and credit analytics, transportation analytics, healthcare, energy and utilities, and IT and telecom. Big data applications span numerous sectors, enabling organizations to gain valuable insights from their data to optimize operations, mitigate risks, and innovate new products and services.
How is this Big Data Industry segmented and which is the largest segment?
The big data industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
Deployment
On-premises
Cloud-based
Hybrid
Type
Services
Software
Geography
North America
Canada
US
Europe
Germany
UK
APAC
China
South America
Middle East and Africa
By Deployment Insights
The on-premises segment is estimated to witness significant growth during the forecast period. On-premises big data software solutions involve the installation of hardware and software by the end-user, granting them complete control over the system. Despite the high upfront costs, on-premises solutions offer advantages such as full ownership and operational efficiency. In contrast, cloud-based solutions require recurring monthly payments and involve data storage on companies' servers, increasing security concerns. Advanced analytics, real-time processing, and integrated analytics are key features driving the market. Data creation from digital transformation, customer experiences, and various industries like retail, healthcare, and finance, fuel the demand for scalable infrastructure and user-friendly interfaces. Technologies such as quantum computing, blockchain, AI-driven analytics platforms, and automation are transforming business intelligence solutions.
Ensuring data protection and privacy, accessibility, and seamless data transactions are crucial in this data-driven era. Key technologies include distributed computing, visualization tools, and social media. Target audiences range from decision-makers to various industries, including transportation, energy, and consumer engagement.
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The On-premises segment was valued at USD 86.53 billion in 2018 and showed a gradual increase during the forecast period.
Regional Analysis
North America is estimated to contribute 47% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The market in North America is experiencing significant growth due to digital transformation initiatives by enterprises in sectors such as healthcare, retail
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Please cite the following paper when using this dataset:N. Thakur, "Twitter Big Data as a Resource for Exoskeleton Research: A Large-Scale Dataset of about 140,000 Tweets from 2017–2022 and 100 Research Questions", Journal of Analytics, Volume 1, Issue 2, 2022, pp. 72-97, DOI: https://doi.org/10.3390/analytics1020007AbstractThe exoskeleton technology has been rapidly advancing in the recent past due to its multitude of applications and diverse use cases in assisted living, military, healthcare, firefighting, and industry 4.0. The exoskeleton market is projected to increase by multiple times its current value within the next two years. Therefore, it is crucial to study the degree and trends of user interest, views, opinions, perspectives, attitudes, acceptance, feedback, engagement, buying behavior, and satisfaction, towards exoskeletons, for which the availability of Big Data of conversations about exoskeletons is necessary. The Internet of Everything style of today’s living, characterized by people spending more time on the internet than ever before, with a specific focus on social media platforms, holds the potential for the development of such a dataset by the mining of relevant social media conversations. Twitter, one such social media platform, is highly popular amongst all age groups, where the topics found in the conversation paradigms include emerging technologies such as exoskeletons. To address this research challenge, this work makes two scientific contributions to this field. First, it presents an open-access dataset of about 140,000 Tweets about exoskeletons that were posted in a 5-year period from 21 May 2017 to 21 May 2022. Second, based on a comprehensive review of the recent works in the fields of Big Data, Natural Language Processing, Information Retrieval, Data Mining, Pattern Recognition, and Artificial Intelligence that may be applied to relevant Twitter data for advancing research, innovation, and discovery in the field of exoskeleton research, a total of 100 Research Questions are presented for researchers to study, analyze, evaluate, ideate, and investigate based on this dataset.
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The Data Analytics in Retail Industry is segmented by Application (Merchandising and Supply Chain Analytics, Social Media Analytics, Customer Analytics, Operational Intelligence, Other Applications), by Business Type (Small and Medium Enterprises, Large-scale Organizations), and Geography. The market size and forecasts are provided in terms of value (USD billion) for all the above segments.
This statistic shows the importance of big data analysis and machine learning technologies worldwide as of 2019. Tensorflow was seen as the most important big data analytics and machine learning technology, with 59 percent of respondents stating that it was important to critial for their organization.
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The big data security market is projected to be valued at US$ 20,418.4 million in 2023 and is expected to rise to US$ 72,652.6 million by 2033. The sales of big data security are expected to record a significant CAGR of 13.5% during the forecast period.
Attribute | Details |
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Market Estimated Size (2023) | US$ 20,418.4 million |
Market CAGR (2023-2033) | 13.5% |
Market Forecasted Size (2033) | US$ 72,652.6 million |
Scope of the Report
Attribute | Details |
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Growth Rate | CAGR of 13.5% from 2023 to 2033 |
Base Year of Estimation | 2023 |
Historical Data | 2018 to 2022 |
Forecast Period | 2023 to 2033 |
Quantitative Units | Revenue in US$ million and Volume in Units and F-CAGR from 2023 to 2033 |
Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, growth factors, Trends, and Pricing Analysis |
Key Segments Covered |
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Regions Covered |
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Key Countries Profiled |
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Key Companies Profiled |
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Customization & Pricing | Available upon Request |
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The USDA Agricultural Research Service (ARS) recently established SCINet , which consists of a shared high performance computing resource, Ceres, and the dedicated high-speed Internet2 network used to access Ceres. Current and potential SCINet users are using and generating very large datasets so SCINet needs to be provisioned with adequate data storage for their active computing. It is not designed to hold data beyond active research phases. At the same time, the National Agricultural Library has been developing the Ag Data Commons, a research data catalog and repository designed for public data release and professional data curation. Ag Data Commons needs to anticipate the size and nature of data it will be tasked with handling.
The ARS Web-enabled Databases Working Group, organized under the SCINet initiative, conducted a study to establish baseline data storage needs and practices, and to make projections that could inform future infrastructure design, purchases, and policies. The SCINet Web-enabled Databases Working Group helped develop the survey which is the basis for an internal report. While the report was for internal use, the survey and resulting data may be generally useful and are being released publicly.
From October 24 to November 8, 2016 we administered a 17-question survey (Appendix A) by emailing a Survey Monkey link to all ARS Research Leaders, intending to cover data storage needs of all 1,675 SY (Category 1 and Category 4) scientists. We designed the survey to accommodate either individual researcher responses or group responses. Research Leaders could decide, based on their unit's practices or their management preferences, whether to delegate response to a data management expert in their unit, to all members of their unit, or to themselves collate responses from their unit before reporting in the survey.
Larger storage ranges cover vastly different amounts of data so the implications here could be significant depending on whether the true amount is at the lower or higher end of the range. Therefore, we requested more detail from "Big Data users," those 47 respondents who indicated they had more than 10 to 100 TB or over 100 TB total current data (Q5). All other respondents are called "Small Data users." Because not all of these follow-up requests were successful, we used actual follow-up responses to estimate likely responses for those who did not respond.
We defined active data as data that would be used within the next six months. All other data would be considered inactive, or archival.
To calculate per person storage needs we used the high end of the reported range divided by 1 for an individual response, or by G, the number of individuals in a group response. For Big Data users we used the actual reported values or estimated likely values.
Resources in this dataset:Resource Title: Appendix A: ARS data storage survey questions. File Name: Appendix A.pdfResource Description: The full list of questions asked with the possible responses. The survey was not administered using this PDF but the PDF was generated directly from the administered survey using the Print option under Design Survey. Asterisked questions were required. A list of Research Units and their associated codes was provided in a drop down not shown here. Resource Software Recommended: Adobe Acrobat,url: https://get.adobe.com/reader/ Resource Title: CSV of Responses from ARS Researcher Data Storage Survey. File Name: Machine-readable survey response data.csvResource Description: CSV file includes raw responses from the administered survey, as downloaded unfiltered from Survey Monkey, including incomplete responses. Also includes additional classification and calculations to support analysis. Individual email addresses and IP addresses have been removed. This information is that same data as in the Excel spreadsheet (also provided).Resource Title: Responses from ARS Researcher Data Storage Survey. File Name: Data Storage Survey Data for public release.xlsxResource Description: MS Excel worksheet that Includes raw responses from the administered survey, as downloaded unfiltered from Survey Monkey, including incomplete responses. Also includes additional classification and calculations to support analysis. Individual email addresses and IP addresses have been removed.Resource Software Recommended: Microsoft Excel,url: https://products.office.com/en-us/excel
This statistic shows the size of the global big data analytics services market related to healthcare in 2016 and a forecast for 2025, by application. It is predicted that by 2025 the market for health-related financial analytics services using big data will increase to over 13 billion U.S. dollars.
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The Big Data Analytics in Banking Market is Segmented by Type of Solutions (Data Discovery and Visualization (DDV) and Advanced Analytics (AA)), and Geography (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa). The Market Sizes and Forecasts are Provided in Terms of Value (USD Million) for all the Above Segments.
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Question Paper Solutions of chapter Spark of Big Data Analysis, 8th Semester , Applied Electronics and Instrumentation Engineering
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The Report Covers Global Big Data Analytics in Healthcare Market Trends and is Segmented by Component (Software and Services), Deployment (On-Premise and Cloud-Based), Application (Financial Analytics, Clinical Data Analytics, Operational Analytics, and Population Health Analytics), and Geography (North America, Europe, Asia-Pacific, Middle East, and Africa, and South America). The Value is Provided (in USD Million) for the Above-Mentioned Segments.
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Recently big data and its applications had sharp growth in various fields such as IoT, bioinformatics, eCommerce, and social media. The huge volume of data incurred enormous challenges to the architecture, infrastructure, and computing capacity of IT systems. Therefore, the compelling need of the scientific and industrial community is large-scale and robust computing systems. Since one of the characteristics of big data is value, data should be published for analysts to extract useful patterns from them. However, data publishing may lead to the disclosure of individuals’ private information. Among the modern parallel computing platforms, Apache Spark is a fast and in-memory computing framework for large-scale data processing that provides high scalability by introducing the resilient distributed dataset (RDDs). In terms of performance, Due to in-memory computations, it is 100 times faster than Hadoop. Therefore, Apache Spark is one of the essential frameworks to implement distributed methods for privacy-preserving in big data publishing (PPBDP). This paper uses the RDD programming of Apache Spark to propose an efficient parallel implementation of a new computing model for big data anonymization. This computing model has three-phase of in-memory computations to address the runtime, scalability, and performance of large-scale data anonymization. The model supports partition-based data clustering algorithms to preserve the λ-diversity privacy model by using transformation and actions on RDDs. Therefore, the authors have investigated Spark-based implementation for preserving the λ-diversity privacy model by two designed City block and Pearson distance functions. The results of the paper provide a comprehensive guideline allowing the researchers to apply Apache Spark in their own researches.
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The need for advanced analytical approaches to provide HPDA solutions is driving the market growth of High Performance Data Analytics (HPDA). According to the analyst from Verified Market Research, The High Performance Data Analytics (HPDA) Market is estimated to reach a valuation of USD 597.06 Billion over the forecast period 2031, by subjugating around USD 113.23 Billion in 2023.
The adoption of an open-source framework for big data analytics is driving market growth. This surge in demand enables the market to grow at a CAGR of 23.1% from 2024 to 2031.
High Performance Data Analytics (HPDA) Market: Definition/ Overview
HPDA refers to big data analytics that uses High-Performance Computing (HPC) techniques. Big data analytics has always relied on high-performance computing (HPC), but as data grows exponentially, new forms of high-performance computing will be required to access previously unimaginable volumes of data. The combination of big data analytics and high-performance computing is called “high-performance data analytics.” High-performance data analytics is the process of quickly finding insights from large data sets by running powerful analytical tools in parallel on high-performance computing systems.
Furthermore, high-performance data analytics infrastructure is a rapidly expanding market for government and commercial organizations that need to combine high-performance computing with data-intensive analysis. For complex modeling and simulations, big data analytics techniques like Hadoop and Spark have long required high-performance computing, which they lack.
Information and technology services and telecommunications have the highest share of employers that expect that AI and big data will be core skills for their workers between 2025 and 2030 or over 65 percent. This is unsurprising as AI is vital to disseminating large quantities of information and improve telecommunication services.
This graph presents the results of a survey, conducted by BARC in 2014/15, into the current and planned use of technology for the analysis of big data. At the beginning of 2015, 13 percent of respondents indicated that their company was already using a big data analytical appliance for big data.
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Big Data Analytics in Manufacturing Market Overview: The global big data analytics in manufacturing market size was valued at USD 41.63 billion in 2025 and is projected to reach USD 202.52 billion by 2033, exhibiting a CAGR of 14.17% during the forecast period. This growth is attributed to various factors, including the increasing adoption of IoT devices, the need for improved operational efficiency, and the growing demand for predictive maintenance and quality control solutions. However, the market faces challenges such as data security concerns, lack of skilled professionals, and integration issues, which may hinder its growth. Key Market Drivers and Trends: The primary drivers of the big data analytics in manufacturing market include:
Predictive Analytics for Improved Decision-Making: Predictive analytics allows manufacturers to anticipate future outcomes and make informed decisions based on real-time data insights, leading to increased productivity and reduced costs. Need for Personalized Manufacturing: The growing demand for customized products drives the need for personalized manufacturing, which can be achieved through the use of big data analytics to tailor products to specific customer requirements. Increased Data Accessibility Through Cloud Computing: The availability of cloud computing platforms enables manufacturers to store and process large volumes of data more easily and cost-effectively, driving the adoption of big data analytics solutions.
This comprehensive market report provides deep insights into the global Big Data Analytics in Manufacturing market, with a detailed analysis of market drivers, trends, challenges, and opportunities. The report covers key market segments, regional and country-level market dynamics, and the competitive landscape. Recent developments include: , The Big Data Analytics in Manufacturing market is projected to grow from USD 41.63 billion in 2023 to USD 137.2 billion by 2032, exhibiting a CAGR of 14.17% during the forecast period. This growth is attributed to the increasing adoption of Industry 4.0 technologies, the need for real-time data analysis to improve operational efficiency, and the growing demand for predictive maintenance and quality control solutions.Recent news developments include the launch of new products and services by key players such as IBM, SAP, and Oracle. For instance, in 2023, IBM announced the launch of IBM Maximo Monitor, a cloud-based asset performance management solution that leverages AI and data analytics to help manufacturers improve asset reliability and reduce downtime. Additionally, the growing adoption of cloud-based big data analytics solutions is expected to drive market growth over the forecast period., Big Data Analytics In Manufacturing Market Segmentation Insights. Key drivers for this market are: Predictive maintenance Process optimization Supply chain management Quality control . Potential restraints include: Growing need for efficient predictive analytics, increasing adoption of cloud-based solutions rising demand for IoT devices focus on data security and privacy regulations. .
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This training dataset was calculated using the mechanistic modeling approach. See “Big data training data for artificial intelligence-based Li-ion diagnosis and prognosis“ (Journal of Power Sources, Volume 479, 15 December 2020, 228806) and "Analysis of Synthetic Voltage vs. Capacity Datasets for Big Data Diagnosis and Prognosis" (Energies, under review) for more details
The V vs. Q dataset was compiled with a resolution of 0.01 for the triplets and C/25 charges. This accounts for more than 5,000 different paths. Each path was simulated with at most 0.85% increases for each The training dataset, therefore, contains more than 700,000 unique voltage vs. capacity curves.
4 Variables are included, see read me file for details and example how to use. Cell info: Contains information on the setup of the mechanistic model Qnorm: normalize capacity scale for all voltage curves pathinfo: index for simulated conditions for all voltage curves volt: voltage data. Each column corresponds to the voltage simulated under the conditions of the corresponding line in pathinfo.
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Market Overview The Big Data Engineering Service Market is projected to exhibit significant growth over the forecast period, expanding at a CAGR of 12.19% from 2025 to 2033. As of 2025, the market size stands at USD 197.24 billion. Key drivers fueling this growth include the increasing demand for data analytics, the need for efficient data management, and the rising adoption of cloud computing. Moreover, advancements in big data technologies and the growing adoption of digital solutions across industries are further contributing to market expansion. Market Segments and Competitive Landscape The market is segmented by deployment model, big data type, application, and industry vertical. Cloud deployment holds a substantial market share due to its cost-effectiveness and scalability advantages. Structured data is the largest big data segment, while data analytics is the leading application. The BFSI sector dominates the market due to stringent data compliance regulations. Major players in the market include IBM, Mindtree, TCS, Wipro, Infosys, and Cognizant. The competitive landscape is characterized by collaborations and acquisitions, as companies seek to expand their offerings and gain market share. The global big data engineering service market is experiencing exponential growth, driven by the proliferation of data and the need for organizations to manage and analyze this data effectively. The market is projected to exceed $100 billion by 2025. Key drivers for this market are: Personalized Marketing Predictive Analytics Fraud Detection Real-time Decision Making Improved Customer Experience. Potential restraints include: Increasing data volumes, rapid cloud adoption surge in data breaches; growing need for data-driven insights and increasing demand for real-time analytics.
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Business Analytics Market was valued at USD 84.42 Billion in 2024 and is projected to reach USD 176.14 Billion by 2031, growing at a CAGR of 9.63% from 2024 to 2031.
Global Business Analytics Market Drivers
The market drivers for the Business Analytics Market can be influenced by various factors. These may include:
Growing Adoption of Big Data Analytics: In order to extract meaningful insights from their data, organizations are progressively using big data analytics in response to the exponential expansion of data. Making educated decisions through data analysis is facilitated by business analytics.
Growing Need for Data-driven Decision Making: In order to obtain a competitive edge, businesses are realizing the significance of data-driven decision making. The methods and instruments for data analysis and significant insights extraction for improved decision-making are offered by business analytics.
Growing Need for Predictive and Prescriptive Analytics: Predictive and prescriptive analytics are becoming more and more in demand as a means of projecting future trends and results. Businesses can use business analytics to prescribe activities to achieve desired outcomes and forecast future outcomes based on previous data.
Growing Emphasis on Customer Analytics: As e-commerce and digital marketing gain traction, companies are putting more of an emphasis on comprehending the behavior and preferences of their customers. In order to increase consumer engagement and personalize marketing efforts, business analytics is used to analyze customer data.
Emergence of Advanced Technologies: The use of advanced analytics solutions is being propelled by developments in fields like artificial intelligence (AI), machine learning (ML), and natural language processing (NLP). Businesses may now analyze data more effectively and gain deeper insights thanks to these technologies.
Operational Efficiency and Cost Optimization Are Necessary: Companies are always under pressure to increase operational efficiency and reduce costs. Business analytics promotes market expansion by assisting in the identification of opportunities for process and cost-cutting enhancements.
Compliance and Regulatory Requirements: The use of business analytics solutions for risk management and compliance reporting is being fueled by the growing regulatory requirements in a number of industries, including healthcare, banking, and retail.
The global big data and business analytics (BDA) market was valued at 168.8 billion U.S. dollars in 2018 and is forecast to grow to 215.7 billion U.S. dollars by 2021. In 2021, more than half of BDA spending will go towards services. IT services is projected to make up around 85 billion U.S. dollars, and business services will account for the remainder. Big data High volume, high velocity and high variety: one or more of these characteristics is used to define big data, the kind of data sets that are too large or too complex for traditional data processing applications. Fast-growing mobile data traffic, cloud computing traffic, as well as the rapid development of technologies such as artificial intelligence (AI) and the Internet of Things (IoT) all contribute to the increasing volume and complexity of data sets. For example, connected IoT devices are projected to generate 79.4 ZBs of data in 2025. Business analytics Advanced analytics tools, such as predictive analytics and data mining, help to extract value from the data and generate business insights. The size of the business intelligence and analytics software application market is forecast to reach around 16.5 billion U.S. dollars in 2022. Growth in this market is driven by a focus on digital transformation, a demand for data visualization dashboards, and an increased adoption of cloud.