Global Big Data And Analytics Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends
24 Aug, 2021
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.
Global Big Data And Analytics Market Size And Drivers:
The global big data and analytics market is expected to grow from $128.54 billion in 2020 to $135.37 billion in 2021 at a compound annual growth rate (CAGR) of 5.3%. The growth 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 market is expected to reach $225.14 billion in 2025 at a CAGR of 14%. 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.
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Trends In The Global Big Data And Analytics Market
The agile process success in software development and the development of the latest technologies have made it very popular in the innovation industry. Few leading-edge organizations use an agile approach to manage their data systems. Agile is a technique for designing applications or handling operations more effectively in IT organizations. Broadly, it's a collaborative methodology where cross-functional teams develop and create minimally viable products (MVPs) and features quickly, test them with consumers, and optimize and improve them in rapid iterations. The agile process helps to make changes in the workflow even in the later stages, which will help to work in the best interests of the client. Agile organizations have a 70% chance of being in the top quartile of organizational health, indicating the best long-term performance amongst competitors. These companies become more customer-centric, have higher revenue growth, and a more engaged workforce.
Global Big Data And Analytics Market Segments:
The global big data and analytics market is further segmented based on analytics, deployment mode, end use industry, application and geography.
By Analytics Tools: Dashboard & Data Visualization, Self-Service Tools, Data Mining & 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 & Credit Analytics, Transportation Analytics, Others
By Geography: The global big data and analytics market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Read More On The Report For The Global Big Data And Analytics Market At:https://www.thebusinessresearchcompany.com/report/big-data-and-analytics-market-global-report-2020-30-covid-19-growth-and-change
Big Data And Analytics Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides big data and analytics market overviews, analyzes and forecasts market size and growth for the global big data and analytics market, big data and analytics market share, big data and analytics market players, big data and analytics market segments and geographies, big data and analytics market’s 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.