The global Big Data and Business Analytics Market size was valued at USD 198.08 billion in 2020 and is projected to reach USD 684.12 billion by 2030, along with a CAGR of 13.5% during the forecast period 2021 to 2030.

Big Data and Business Analytics Market Overview:

Big data analytics is an essential part of business as it helps organizations manage, process and simplify large data sets in real time and improve the organization's decision-making capabilities. Moreover, a major goal of big data and business analytics is to help organizations better understand their customers and narrow down their target audience to improve their marketing campaigns. In addition, various industries are adopting big data and business analytics to analyze the vast amounts of data generated by offline and online transactions. And with the introduction of cloud-based big data and business analytics, users can access all information online from anywhere in the world. This allows various big data service providers to increase their investment in cloud technology and gain a competitive advantage over other service providers.

Big Data and Business Analytics market size estimates and forecasts are provided in terms of sales volume (K units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Big Data and Business Analytics market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and other global crisis.

The global Big Data and Business Analytics market is the professional and accurate study of various business perspectives such as major key players, key geographies, divers, restraints, opportunities, and challenges. This global research report has been aggregated on the basis of various market segments and sub-segments associated with the global market.

Significant Big Data and Business Analytics Market Dynamics and Growth Factors:

Worldwide, increasing digital solutions in business sectors such as banking, healthcare, BFSI, retail, agriculture, and telecom/media are driving data growth. For example, artificial intelligence is bringing notable changes to risk management, precision agriculture and pest control in the agricultural sector.

Smart machines, soil sensors and GPS-equipped tractors generate huge data sets. Big data analytics are being applied in agriculture to analyze vast data sets such as advanced risk assessments, supply tracking, natural trends, ideal crops and more.

Likewise, the industry is running bots to reform and automate work scenarios. Moreover, virtual assistants such as Google Assistant, Apple's Siri, and Amazon's Alexa generate vast amounts of data. For example, by January 2021, the number of digital voice assistants is expected to reach 8.2 billion. Advances in smartphone technology and network connectivity have fueled the growth of social media users worldwide.

Industry News

• In May 2021, Telefonica Tech, a digital business company, formed collaboration with Microsoft on Azure Edge Zone. Through this collaboration Telefonica combined its 5G connectivity with Microsoft Edge computing competences, enabling industrial processes t

Top Key Players include in the Big Data and Business Analytics Market are
International Business Machines (IBM) Corporation, Oracle, Microsoft Corporation, Hewlett-Packard Enterprises, SAP, Dell Incorporation, Teradata, and others.

The Big Data and Business Analytics market research report is categorized based on type, applications and region.

On the Basis of Type:

• On-premise
• Cloud-Based

On the Basis of Application:

• Customer Analytics
• Supply Chain Analytics
• Marketing Analytics
• Pricing Analytics
• Spatial Analytics
• Workforce Analytics
• Risk & Credit Analytics
• Transportation Analytics

On the Basis of Region:

Geographically, the global Big Data and Business Analytics market has been analysed in various regions such as North America, Latin America, Middle East, Asia-Pacific, Africa, Europe, and India. The global Big Data and Business Analytics region is dominating this market in the upcoming future.

North America is expected to obtain the largest revenue share during the forecast period. The region houses prominent businesses from all industries and has extensive software implementations. The United States will see rapid growth due to increasing demand for analytics tools that provide advanced and improved compliance analytics that play a key role in uncovering fraud, policy violations and other business misconduct. The country is investing heavily in advanced technologies such as ML, IoT, AI and more to generate exponential data for industry.

Asia Pacific has witnessed remarkable CAGR during the forecast period owing to the expansion of BFSI, retail, healthcare, automotive and other industries. With booming countries such as China, India, South Korea, Singapore, Japan, etc., the growth potential of this market is vast in the region. China is likely to have the upper hand, and India is expected to show further developed potential. Growing social media platforms, access to the internet and smartphones, advances in communication technologies and digitization are likely to boost the big data analytics market share.

Europe has significantly increased adoption of advanced telecommunications, network solutions, electronic devices, social media, and connected devices. Widespread growth of data in this region is likely to spur demand for analytics tools. According to a European Parliament report, data analysis practices in Europe are expected to boost industrial productivity.

Further the regions are divided into countries as follows

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• France
• Italy
• Spain
• UK
• Nordic Countries
• Denmark
• Finland
• Iceland
• Sweden
• Norway
• Benelux Union
• Belgium
• The Netherlands
• Luxembourg
• Rest of Europe
• Asia-Pacific
• Japan
• China
• India
• Australia
• South Korea
• Southeast Asia
• Indonesia
• Thailand
• Malaysia
• Singapore
• Rest of Southeast Asia
• Rest of Asia-Pacific
• The Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of the Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

Big Data and Business Analytics Market report scope

Report Attributes	Details
Growth Rate	CAGR of 13.5% during forecast period.
By Type	On-premise, Cloud-Based
By Application	Customer Analytics, Supply Chain Analytics, Marketing Analytics, Pricing Analytics, Spatial Analytics, Workforce Analytics, Risk & Credit Analytics, Transportation Analytics
By Companies	International Business Machines (IBM) Corporation, Oracle, Microsoft Corporation, Hewlett-Packard Enterprises, SAP, Dell Incorporation, Teradata
Regions and Countries Covered	North America: (US, Canada, Mexico, Rest of North America) Europe(Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe) Asia-Pacific (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific) The Middle East & Africa(Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa) Latin America(Brazil, Argentina, Rest of Latin America) Rest Of the World
Base Year	2022
Historical Year	2017 to 2022
Forecast Year	2023 to 2030

 

The major key questions addressed through this innovative research report:

What are the major challenges in front of the global Big Data and Business Analytics market?

Who are the key vendors of the global Big Data and Business Analytics market?

What are the leading key industries of the global Big Data and Business Analytics market?

Which factors are responsible for driving the global Big Data and Business Analytics market?

What are the key outcomes of SWOT and Porter’s five analysis?

What are the major key strategies for enhancing global opportunities?

What are the different effective sales patterns?

What will be the global market size in the forecast period?

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