Reliance on Data-based Insightful Decision-Making Endeavors across Enterprises to Fuel Growth in Global Big Data Market

Key factors such a IoT centric knowledge, awareness and adoption, voluminous data pools available across enterprises, large scale reliance on advances data analytics methods to incur deep insights, surged government initiatives favorably backing dependence on big data adoption are significantly stoking global big data market in a growth proficient direction finds about Adroit Market Research in a newly released market intelligence report.

The global big data market size is anticipated to reach over USD 267 billion by 2025. In addition, it is expected to exhibit a CAGR of over 12% during the forecast period 2020-2025. Big data is major concept that contains billions and trillions of data sets and records of various content and information from various sources. Big data services and solutions analyze and store unstructured and structured data from numerous IT operations and convert them into significant insights and information.

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In-depth report coverage opines that the global 'big data ' market is likely to reinforce a healthy CAGR valuation with ample growth over the forecast span and this is preceded by encouraging adoption rates across emerging economies such as APAC wherein data visualization solutions are being braced at astronomical rate to successfully process statistical data inputs and eventually encourage high potential growth by harnessing stable, long term and sustainable business insights.

 These trends are gaining larger momentum across emerging economies such as China, Korea and India, who are establishing a strong base for data driven investment discretion, thus adopting big data analytical approach. Besides businesses in the regions, government institutions are also exceptionally favorable towards integrated big data solutions for performance enhancement.

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Factors herein stated are anticipated to carve a lucrative growth outlook for global big data market in the coming years. Core and integral functionalities across businesses such as supply chai optimization, predictive maintenance, post sales assistance, risk mitigation and prevention, logistics and the like are some of the core areas which are highly data dependent, thus necessitating big data integration for improved capabilities. Driven by these factors, healthcare and lifesciences verticals, manufacturing industry, besides BFSI industry are touted to support further growth and expansion in global big data market and analytics. To align with fast changing industrial priorities and resultant alterations in buyer behavior, global big data market is likely grow at an instrumental growth pace.

The major players of the global big data market are Amazon Web Services (AWS), Microsoft, IBM, Google, Salesforce, Oracle, SAS, Cloudera, SAP, Teradata. Moreover, the other potential players in the Big Data Market are Fair Isaac Corporation, TIBCO Software, Splunk, Micro Focus, and MicroStrategy. The recognized companies are coming up with innovative and advanced solutions and services. For instance, In February 2020, Google announced the acquisition of Looker, an American data company. With this acquisition, Google is planning to overtake its cloud competitors Microsoft and Amazon.

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Key Segments of the Global Big Data Market
Component Overview, 2018-2025 (USD Billion)
    •    Solution
    •    Services
Function Overview, 2018-2025 (USD Billion)
    •    Finance
    •    Human Resources
    •    Marketing and Sales
    •    Operations
    •    Others
Industry vertical Overview, 2018-2025 (USD Billion)
    •    IT & telecom
    •    BFSI
    •    Retail
    •    Healthcare
    •    Government and Defense
    •    Manufacturing
    •    Others

Regional Overview, 2018-2025 (USD Billion)
North America
    •    U.S.
    •    Canada
Europe
    •    UK
    •    Germany
    •    France
    •    Rest of Europe
Asia Pacific
    •    China
    •    Japan
    •    India
    •    Rest of Asia-Pacific
Middle East and Africa
    •    UAE
    •    South Africa
    •    Rest of Middle East and Africa
South America
    •    Brazil
    •    Rest of South America

What does the report include?
    •    The study on the global big data market includes qualitative factors such as drivers, restraints, and opportunities
    •    The study covers the competitive landscape of existing/prospective players in the big data industry and their strategic initiatives for the product development
    •    The study covers a qualitative and quantitative analysis of the market segmented based on component, function, and industry vertical. Moreover, the study provides similar information for the key geographies.
    •    Actual market sizes and forecasts have been provided for all the above-mentioned segments.

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Reasons to read this Report:

Segment analysis: This report analyzes high-growth segments including product types, applications and end users based on CAGR, share and size.
Prospects for the future: This part of the study looks at current Big Data developments and future opportunities that are estimated to emerge in the Big Data industry.
Geographic analysis: The authors of the report studied regions with growth potential to help companies plan their future investments.
Competitive Research: Industry experts provided comprehensive information on the strategic tactics adopted by industry participants to strengthen their position. This assessment will help players strategize for the future.
Industry size and forecast: This portion of the report provides estimates of the global Big Data industry size based on value and volume.
Research of the main industry trends: In this section, you will find a detailed description of the prevailing and future trends in Big Data.

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Adroit Market Research is an India-based business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code – Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.

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