The Global Big Data Analytics Market size is estimated to reach $ 275.1 billion by 2026, growing at a CAGR of 12.1% over the forecast period of 2021-2026. Big data analytics is a kind of advanced analytics that entails complex applications that use analytics systems to power aspects like predictive models, statistical algorithms, and what-if analyses. Big data analytics technologies and software may assist businesses in making data-driven decisions that enhance business outcomes. More effective marketing, additional income opportunities, customer personalization, and increased operational efficiency are possible benefits. Smart implementation of Artificial Intelligence will create advanced algorithms enabling organizations to achieve more through big data analytics.
Key Market Players
Key Players in the Global Big Data Analytics Market consist of IBM, Google, Oracle, Microsoft, SAS, SAP, Alteryx, TIBCO, Cloudera, Teradata, AWS, Informatica, etc.
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Impact of COVID-19 on Big Data Analytics Market:
The COVID-19 pandemic resulted in sectors like healthcare, retail, IT, others. Undergoing rapid digitization to survive as well as grow. Hence, the big data analytics market is predicted to experience much progress to meet the digitization requirements, positively affecting the industry.
Market Dynamics
Driver: Edge Computing'sComputing's Increased Usage Will Boost Demand for Analytics Tools, thus driving Big Data Analytics Market
The number of connected IoT devices is expanding as the Internet of Things (IoT), artificial intelligence (AI), and machine learning techniques become more widely used (MLA). Edge computing is also becoming increasingly popular as the need for connected devices grows. Edge computing is primarily significant to industrial IoT since it allows for real-time data processing and shorter response times. During the projected period, this aspect is expected to boost the growth of the big data analytics market.
Challenge: Security issues in the field are restraining the market growth.
Cyber attacks, fake data, security breaches create concerns to protect the privacy and security of customers, causing challenges for the progress of the Big Data Analytics Market.
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Report Coverage and Scope
The report "Global Big Data Analytics Market" by Research Informatic covers an in-depth detailed analysis for the following segment covered under the scope.
By Component
• Hardware
• Software
• Services
By Application
• Data discovery and visualization
• Advanced Analytics
• Data preparation
By Geography
• North America
• Europe
• APAC
• RoW
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TOC:
Chapter 1 Big Data Analytics Market Overview
1.1 Product Overview and Scope of Big Data Analytics
1.2 Big Data Analytics Market Segmentation by Type
1.2.1 Global Production Market Share of Big Data Analytics by Type in 2019
1.2.1 Type 1
1.2.2 Type 2
1.2.3 Type 3
TOC Continued...
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