This report provides exclusive insights into the COVID-19 impact on the Big Data Analytics Market. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the Big Data Analytics Market. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of Big Data Analytics Market. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.
A recent report published by Infinium Global Research on the big
data analytics market provides an in-depth analysis of segments and sub-segments
in the global as well as regional big data analytics market. The study also
highlights the impact of drivers, restraints, and macro indicators on the
global and regional big data analytics market over the short term as well as
long term. The report is a comprehensive presentation of trends, forecast, and
dollar values of the global big data analytics market. According to the report, the
global big data analytics market is projected to grow at a CAGR of 13.8% over
the forecast period of 2019-2025.
The amount of data produced is growing rapidly
year-on-year owing to the advances in new technologies, devices, and
communication. Big data analytics is the IT offerings that use numerous data
mining, for instance, text mining and predictive modeling. Big data analytics
involves the usage of some advanced statistical and mathematical models, for
instance, data mining, artificial intelligence, and predictive analysis. These
models help in gaining innovative insight that helps in making faster business
decisions. Big data analytics will help industry players move towards
invention, growth, and productivity. Additionally, the current concern over the
spread of coronavirus is also expected to have a positive impact on the big
data analytics market. Data consumption is anticipated to witness a substantial
increase as a direct consequence of lockdowns enforced in several countries
across the world to combat the spread of the deadly novel coronavirus.
Cloud-based services are expected to witness a huge adoption during this
pandemic, as enterprises across the industries, are highly dependent on remote
working. Furthermore, big data analytics technology is beneficial for the
environmental situation, early detection, analysis of data, mitigating the risk
of economic crisis, and many more.
Industries are primarily turning to
visualization-based data discovery solutions. These solutions endorse
self-service business intelligence (BI), allowing the multitude of users to
easily integrate data from a wide range of sources such as clickstreams, log
files, social media, videos, and more. The increasing trend toward
visualization-based data discovery tools is worth exploring by any organization
that pursues to derive more value from Big Data which drives the market growth.
Furthermore, the increasing need for real-time monitoring of data generated by
banks, the growing adoption rate of Internet of Things (IoT) coupled with a
rising need for security of data has been boosting the global big data analytics
market. In contrast, lacking awareness of the numerous benefits of big data
solutions in the banking segment as well as government rules & regulations
might hinder the overall market at a global level.
Among the geographies, North America region is
expected to hold the largest share in the global big data analytics market as
countries such as the U.S. and Canada are the front-runners of the adoption of
new technology. Further, the North America region has a strong foothold of Big
Data analytics vendors, which adds to the growth of the market. However, the
Asia Pacific region is expected to witness substantial growth and is projected
to grow at the highest CAGR over the forecast period. Increasing technological
advancement is boosting the growth of the market in the region. This growth
also accredited to increase the deployment of Big Data solutions in the Asia Pacific
region to improve their efficiency and streamline their business procedures.
The report on the global big data analytics market covers
segments such as component, deployment, and analytics type. On the basis of
component, the sub-markets include software, and services. On the basis of
deployment, the sub-markets include on-premise, and cloud. On the basis of
analytics type, the sub-markets include descriptive analytics, predictive
analytics, prescriptive analytics, and diagnostic analytics.
The report provides profiles of the companies in the market
such as Accenture plc, Fair Isaac Corporation, Cisco Systems, Inc., SAS
Institute Inc., IBM Corporation, Splunk Inc., Oracle Corporation, Dell Inc.,
SAP SE, and TIBCO Software Inc.
The report provides deep insights into the demand forecasts,
market trends, and micro and macro indicators. In addition, this report
provides insights into the factors that are driving and restraining the growth
in this market. Moreover, The IGR-Growth Matrix analysis given in the report
brings an insight into the investment areas that existing or new market players
can consider. The report provides insights into the market using analytical
tools such as Porter's five forces analysis and DRO analysis of the big data
analytics market. Moreover, the study highlights current market trends and
provides forecast from 2019-2025. We also have highlighted future trends in the
market that will affect the demand during the forecast period. Moreover, the
competitive analysis given in each regional market brings an insight into the
market share of the leading players.