Market Analysis 

The Big Data Market worldwide size is predicted to touch USD 297.28 Billion at a 14.52% CAGR between 2020 to 2030, states the latest Market Research Future (MRFR) analysis. 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. Big data, put simply, is a huge volume of data that is structured, unstructured, or semi-structured- which inundates a business on a daily basis. It can be described through the following characteristics- variability, velocity, variety, and volume.

Emerging developments in big data analytics, like social media analytics & text analytics, are expected to open up new opportunities. Besides, because social media is more effective than traditional advertising, many organizations have made it their primary source for different advertising campaigns, events, and product promotions.

Various factors are fuelling the global big data market demand. As per the recent MRFR market estimates, such factors include the rising penetration of the internet, increase in virtual online offices, increasing popularity of social media, growing awareness about IoT devices among organizations, surging need for cloud big data technology, burgeoning need for big data tools, rising government investments to enhance digital technologies, increasing accessibility of data across organizations, and the increasing adoption of big data across enterprises. Besides, the increasing use of big data in the healthcare sector during the COVID-19 pandemic to store data and information about COVID-infected people (infected, recovered, and expired) is also adding to market growth.

Get a Free Sample Copy @ https://www.marketresearchfuture.com/sample_request/7846

On the contrary, high implementation prices, shortage of skilled workforce, and growing concern about information security and privacy may limit the global big data market growth over the forecast period.

Big Data Market Drivers

Increasing Adoption of Technologies to Boost Market Growth

The rise of technologies like machine learning, data analytics, and artificial intelligence, is altering big data technology. The use of these technologies in conjunction with big data allows businesses to improve their visualization capabilities, and make complex data more useable, and more accessible through visual representation. Business intelligence solutions are used by machine learning techniques to analyze organized and unstructured data. End-users can analyze data and draw insights regarding sales, price, and quantity to reach target customers using machine learning and data analytics combined with big data technologies. This enables end-users to forecast future conditions and handle transportation & supply chain components more efficiently.

Data Security Concerns to act as Market Restraint

Data security concerns, strict data security regulations, and data silos may act as market restraints over the forecast period.

Poor Data Quality to act as a Market Challenge

The poor data quality, dearth of skilled workforce, and high implementation cost may act as market challenges over the forecast period.

Market Segmentation 

The MRFR report throws light on an inclusive segmental analysis of the global big data market based on component, organization size, technology, end user, and deployment.

Check Discount @ https://www.marketresearchfuture.com/check-discount/7846 

Based on components, this market has been categorized into software, service, and hardware. The hardware component is again bifurcated into servers, storage, and network equipment. The software component is again bifurcated into analytics, Hadoop distribution products and tools, data discovery and visualization, and data management. The service segment is again bifurcated into deployment and integration services, consulting services, analytics as a service, and data as a service. Among these, the service component will dominate the market over the forecast period.

By technology, the market is bifurcated into stream processing, Hadoop predictive analytics, MPAD, machine learning and data mining, natural language processing, and NoSQL. Among these, machine learning & data mining technology will lead the market over the forecast period.

Based on the organization size, this market has been classified into both large enterprises & SMEs. Among these, the SME organization size will have the lion's share in the market in the forecast period.

By deployment, the market is bifurcated into on-cloud and on-premise. Among these, the on-cloud deployment will spearhead the market over the forecast period for both its cost benefits & functional efficiency.

Based on end-user, the market is bifurcated into healthcare, energy and utilities, IT, government, telecommunications, transportation, retail, manufacturing, and others. Among these, the IT end user will command the market in the forecast period.

Regional Analysis 

Based on region, the global big data market covers the recent trends and growth opportunities across Europe, North America, the Asia Pacific (APAC), and the Rest of the World (RoW). Of these, North America will spearhead the market over the forecast period at a 12.4% CAGR. Increasing adoption of IoT devices by various businesses, the presence of several leading players, increasing focus on the application of data in the US and Canada, and quick adoption of advanced information technologies are fueling the big data market growth in this region.

In the APAC region, the market is likely to grow at a fast pace in the forecast period. The penetration of the latest technologies like connected devices, the development of the banking and insurance industry, the increasing use of IoT devices, and the increasing adoption of big data technologies like Hadoop and Apache are adding to the growth of the global big data market in this region.

Key Players

  • Fair Isaac Corporation
  • Accenture PLC
  • Cloudera Inc.
  • Teradata Corporation
  • Microsoft Corporation
  • Splunk Inc.
  • Amazon Web Services
  • Cisco Systems Inc.
  • Hewlett Packard Enterprise Company
  • Tableau Software
  • SAP SE
  • Hitachi Ltd.
  • Oracle Corporation
  • Dell Technologies
  • IBM Corporation

Get Complete Report Details @ https://www.marketresearchfuture.com/reports/big-data-market-7846

Industry Updates 

May 2021- McKinsey has adopted a smart approach to big data. 

1 Executive Summary

2 Market Introduction

2.1 Definition 20

2.2 Scope Of Study 20

2.3 List Of Assumptions 21

2.4 Market Structure 22

3 Research Methodology

3.1 Research Process 24

3.2 Secondary Research 24

3.3 Primary Research 25

3.4 Forecast Model 27

4 Market Dynamics

Continued...

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

Contact:

Market Research Future (Part of Wantstats Research and Media Private Limited)

99 Hudson Street, 5Th Floor

New York, NY 10013

United States of America

+1 628 258 0071 (US)

+44 2035 002 764 (UK)

Email: sales@marketresearchfuture.com

Website: https://www.marketresearchfuture.com