Allied Market
The report offers detailed segmentation of the global market based on component, deployment model, analytics tools, application, industry vertical, and region.
PORTLAND, OR , UNITED STATES, UNITED STATES, May 9, 2023 /EINPresswire.com/ — The global big data and business analytics market generated $198.08 billion in 2020 and is expected to generate $684.12 billion by 2030, witnessing a CAGR of 13.5% from 2021 to 2030. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
The increase in adoption of big data analytics software by multiple organizations and demand for cloud-based big data analytics software among SMEs drive the growth of the global big data and business analytics market. Trends such as social media analytics and the need to avail insights for business planning create new opportunities in the coming years.
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Based on components, the service segment held the highest share in 2020, accounting for nearly half of the total share, and is estimated to maintain its lead in terms of revenue during the forecast period. However, the software segment is expected to witness the highest CAGR of 14.8% from 2021 to 2030.
Based on industry vertical, the BFSI segment accounted for the largest share in 2020, contributing to nearly one-fifth of the global big data and business analytics market, and is expected to continue its leadership status during the forecast period. However, the retail & e-commerce segment is projected to register the fastest CAGR of 15.9% from 2021 to 2030.
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Major industry players such as – Amazon Web Services, IBM Corporation, Fair Isaac Corporation, Oracle Corporation, Microsoft Corporation, SAP SE, Hewlett Packard Enterprise Development LP, TIBCO Software Inc., SAS Institute Inc., and Teradata Corporation.
Based on region, North America contributed to the highest share in 2020, accounting for more than half of the total market share, and is estimated to maintain its dominance by 2030. However, Asia-Pacific is expected to portray the fastest CAGR of 17.5% during the forecast period.
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Some of the Recent Product Launches, Product approval, Announces and Merger in Big Data and Business Analytics Market –
• In 2021, Microsoft launched Azure Percept, an end-to-end platform for creating and deploying intelligent edge and AI solutions.
• In 2021, Google Cloud announced the general availability of Dataplex, a platform that provides an integrated analytics experience across data lakes, warehouses, and AI platforms.
• In 2021, AWS announced the general availability of Amazon QuickSight Q, a new feature that uses natural language to answer business questions and provide insights.
• In 2021, Salesforce announced the acquisition of Slack, a popular team collaboration platform, to enhance its customer relationship management capabilities.
• In 2021, Google announced its plans to acquire Looker, a data analytics and business intelligence platform, to enhance its cloud offerings.
• In 2020, SAP launched its Data Warehouse Cloud platform, which provides a unified data and analytics environment for businesses.
• In 2020, IBM announced the acquisition of Instana, an application performance management company that uses AI to monitor microservices and cloud-native applications.
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Lastly, this report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market.
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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