The global big data and analytics market size is expected grow from $81.84 billion in 2021 to $92.06 billion in 2022 at a compound annual growth rate (CAGR) of 12.5%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The big data and analytics market is expected to reach $152.99 billion in 2026 at a CAGR of 13.5%.
What is the Global Big Data and Analytics Market?
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.
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What drives the Global Big Data and Analytics Market?
The growing investments in business intelligence, data analytics tools by major companies, and increasingly adopting different styles of analytics to resolve their business imperatives and personalize the service or product according to the customers' aspirations boosts the growth of the big data and analytics market. For instance, Costco, a major retailer that collects its customer's data on purchases to provide personalized service was able to warn its customers who bought stone fruits to warn them of possible contamination using the analytics software instead of sending a blanket message to everyone. This increasing need to personalize the service to cater to the customers compels businesses to invest in data analytics tools, thereby increasing demand for the big data and analytics market.
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Global Big Data and Analytics Market Segments
The global big data and analytics market is segmented:
By Analytics Tool: Dashboard and Data Visualization, Self-Service Tools, Data Mining and Warehousing, Reporting, Others
By Deployment Mode: On-Premise, Cloud
By End-Use Industry: BFSI, Retail, Manufacturing, IT and Telecom, Government, Healthcare, Utility, Others
By Application: Customer Analytics, Supply Chain Analytics, Marketing Analytics, Pricing Analytics, Spatial Analytics, Workforce Analytics, Risk and Credit Analytics, Transportation Analytics, Others
By Geography: The regions covered in the big data and analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Big Data and Analytics Global Market Report 2022provides market size and growth forecasts for the global big data and analytics market, global big data and analytics market share, big data and analytics market segments and geographies, big data and analytics market competitive landscape including leading competitors’ revenues, profiles and market shares. The big data and analytics market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Big Data and Analytics Industry Playersinclude IBM Corporation, Oracle Corporation, Microsoft Corporation, SAP SE, SAS Institute Inc., Teradata Corporation, Accenture, Salesforce, Cisco Systems, Tableau Software, Hewlett Packard Enterprise Development LP., Amazon Web Services, Dell Inc., Cloudera, Musigma, Informatica, Alpine Data Labs, Alteryx, Amazon Web Services, BigML, Cognonto Corp., Couchbase, Inc., and Dataiku. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
