Big Data Market by Component, Deployment Mode, Organization Size, Business Function (Operations, Finance, and Marketing and Sales), Industry Vertical (BFSI, Manufacturing, and Healthcare and Life Sciences), and Region – Global Forecast to 2025
[245 Pages Report] The global big data market size to grow from USD 138.9 billion in 2020 to USD 229.4 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 10.6% during the forecast period. The major growth factors of the big data market include the increasing awareness of Internet of Things (IoT) devices among organizations, increasing availability of data across the organization to gain deeper insights to remain competitive, and increasing government investments in various regions for enhancing digital technologies.
Among solutions, the big data analytics segment to grow at the highest CAGR during the forecast period
Big data can enable companies to increase operational efficiencies and reduce costs. Big data solutions and services store and analyze structured and unstructured data from IT operations and turn it into relevant information and insights. Numerous companies are implementing big data solutions and services to evaluate their internal processes and enhance operations. Big data implementation assists companies to strike the right balance between operational cost, speed, flexibility, and quality. The big data analytics segment is expected to hold the largest market size during the forecast period. Big data solutions enable more precise segmentation of potential buyers and facilitate a deeper understanding of those buyers, their needs, and motivations by analyzing the data generated from various sources, such as social media, call logs, and service forms. Big data solutions enable data experts to understand various trends, such as identifying financial growth opportunities, financial benchmarking against industry standards, and identifying financial implications.
Cloud deployment mode to grow at a rapid pace during the forecast period
Most vendors in the big data market offer cloud-based big data solutions to maximize profits and automate the equipment maintenance process, effectively. The adoption of cloud-based big data solutions is expected to grow, owing to benefits, such as easy maintenance of generated data, cost-effectiveness, agility, flexibility, scalability, and effective management of these solutions. Companies prefer to adopt cloud-based big data solutions, as these support their regional, cross-regional or cross-country data recovery strategies. This enables them to ensure resilience in case of disasters.
North America to hold the highest market share during the forecast period
North America is expected to hold the highest share in the global big data market, while Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period. North America is the most significant revenue contributor in the global big data market. The region is witnessing significant developments in the big data market. In North America, the high growth rate can be attributed to increasing adoption of IoT devices by various businesses in the region. Organizations, especially in the US, have started using big data solutions to generate data insights for making strategic business decisions and remaining competitive in the market.
Key market players
Major vendors in the global big data market include Microsoft (US), Teradata (US), IBM (US), Oracle (US), SAS Institute (US), Google (US), Adobe (US), Talend (US), Qlik (US), TIBCO Software (US), Alteryx (US), Sisense (US), Informatica (US), Cloudera (US), Splunk (US), Palantir Technologies (US), 1010data (US), Hitachi Vantara (US), Fusionex (Malaysia), Information Builders (US), AWS (US), SAP (Germany), Salesforce (US), Micro Focus (UK), HPE (US), MicroStrategy (US), ThoughtSpot (US), and Yellowfin (Australia). These vendors have adopted various organic and inorganic growth strategies, such as new product launches, partnerships and collaborations, and mergers and acquisitions, to expand their presence in the global big data market.
AWS (US) offers cloud computing services in the form of web services. The company offers a wide range of products and services to customers present in 190 countries. Amazon’s product portfolio comprises segments, such as compute, storage, database, migration, network and content delivery, developer tools, management tools, media services, Machine Learning (ML), and analytics. Additionally, the solutions segment offers website and web apps, mobile services, back-up, storage and archive, financial services, and digital media. It caters to various industry verticals, such as media and entertainment, automotive, education, BFSI, game tech, government, healthcare and life sciences, manufacturing, retail, telecommunications, oil and gas, and power utilities. In big data market, its offerings include Amazon QuickSight, Amazon S3, Amazon Glacier, AWS Glue, Amazon Athena, Amazon EMR, Amazon Redshift, Amazon Kinesis, and Amazon Elasticsearch Service.
Scope of the Report
|Market size available for years||2018–2025|
|Base year considered||2019|
|Forecast units||Billion (USD)|
|Segments covered||Component, Deployment Mode, Organization Size, Business Function, Industry Vertical, and Region|
|Geographies covered||North America, Europe, APAC, Latin America, and MEA|
|Companies covered||Microsoft (US), Teradata (US), IBM (US), Oracle (US), SAS Institute (US), Google (US), Adobe (US), Talend (US), Qlik (US), TIBCO Software (US), Alteryx (US), Sisense (US), Informatica (US), Cloudera (US), Splunk (US), Palantir Technologies (US), 1010data (US), Hitachi Vantara (US), Fusionex (Malaysia), Information Builders (US), AWS (US), SAP (Germany), Salesforce (US), Micro Focus (UK), HPE (US), MicroStrategy (US), ThoughtSpot (US), and Yellowfin (Australia).|
This research report categorizes the big data market based on components, deployment modes, organization size, business function, verticals, and regions.
By component, the big data market is divided into the following segments:
- Big Data Analytics
- Data Discovery
- Data Management
- Data Visualization
- Managed Services
- Profession Services
- Deployment and Integration
- Support and Maintenance
By deployment mode, the big data market is divided into the following segments:
- Hybrid Cloud
- Private Cloud
- Public Cloud
By organization size, the big data market is divided into the following segments:
- Large Enterprises
- Small and Medium-sized Enterprises (SMEs)
By business function, the big data market is divided into the following segments:
- Marketing and Sales
- Human Resources (HR)
By industry vertical, the big data market is divided into the following segments:
- Banking, Financial Services and Insurance (BFSI)
- Government and Defense
- Healthcare and Life Sciences
- Retail and Consumer Goods
- Media and Entertainment
- Telecommunication and IT
- Transportation and Logistics
- Others (Real Estate, Energy and Utilities, Travel and Hospitality, Education and Research)
By region, the big data market is divided into the following segments:
- North America
- United States (US)
- United Kingdom (UK)
- Rest of Europe
- Asia Pacific (APAC)
- Rest of APAC
- Middle East and Africa (MEA)
- Kingdom of Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- South Africa
- Rest of MEA*
- Latin America
- Rest of Latin America*
- In January 2020, SAS Institute’s Intelligent Planning Suite solution infused Artificial Intelligence (AI) and cloud agility capabilities for enhancing customer experience. The multi-cloud solution would help retail IT executives to anticipate customer demand and enhance customer experience.
- In January 2020, Qlik launched data literacy consulting service and signature service. This new launch of consulting and support services will help organizations drive higher data literacy rate and gain customer success.
- In October 2019, Teradata partnered with Deutsche Telekom, a German telecommunication company, to provide data analytics solutions for the growth of German SMEs. This partnership would provide easy data access to various SMEs. As per the partnership, the customers of Deutsche Telekom would be able to analyze a large amount of data in cloud.
- In August 2019, IBM announced the expansion of its global cloud footprint with the launch of IBM Cloud Multizone Region (MZR) in Latin America in 2020. This expansion will help clients to quickly deploy mission-critical workloads across hybrid cloud environments.
- In February 2019, Microsoft acquired BrightBytes, a provider of data management platform. BrightBytes DataSense platform will collect, integrate, and report information across online education applications and services. The platform would be integrated with Microsoft Azure Platform.
Critical questions the report answers
- What are the current trends driving the big data market?
- In which vertical are most industrial companies deploying big data solutions?
- Where will recent developments of market vendors take the industry in the mid- to long-term?
- Who are the top vendors in the big data market, and what is their competitive analysis?
- What are the drivers and challenges faced by vendors in the big data market?