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Big Data Analytics Market (Component - Software, and Services; Deployment - On-premise, and Cloud; Analytics Type - Descriptive Analytics, Predictive Analytics, Prescriptive Analytics, and Diagnostic Analytics): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025

  • Published : March, 2020

  • Rep Id : ICT1369

  • Category : Electronics, ICT and Semiconductors

  • Status : Published

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.

 

Market Insight

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.

 

Segment Covered

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.

 

Companies Profiled:

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.

 

Report Highlights:

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.


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