The big data and analytics market consists of sales of big data and analytics software used for data mining and predictive modeling. The sales consist of revenues generated by establishments that are primarily engaged in the development of software for big data and analytics like Hadoop, Tableau, Qubole and others.
The global big data and analytics market is expected to grow from $134.31 billion in 2019 to $130.08 billion in 2020 at a compound annual growth rate (CAGR) of 2.93%. The decline in growth rate is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and reach $188.07 billion in 2023 at CAGR of 12.99%.
