The Big Data And Analytics Services Global Market Report 2023 by The Business Research Company, provides big data and analytics services market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Big Data And Analytics Services Global Market Report 2023, the market size is expected to grow from $121.65 billion in 2022 to $137.23 billion in 2023 at a compound annual growth rate (CAGR) of 12.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global big data and analytics services is expected to grow to $221.44 billion in 2027 at a CAGR of 12.7%.
The increasing growth of integration of internet of things in daily lives is a key factor driving the growth of the big data and analytics services market. When organizations take a hold of the data for the purpose of research, IoT serves as a major source for that data and this is the point where the position of big data in IoT comes into the picture. IoT devices produce a huge amount of unstructured data, which are stored in the big data network and this data largely depends on 3V factors such as volume, velocity and variety. About 44 trillion gigabytes of data is were generated by the Internet of Things in the year 2020. With the increasing number of connected devices, in 2020, more than 10 billion sensors and computers were connected to the Internet. Therefore, increasing growth of internet of things is expected to drive the growth of the big data and analytics services market.
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The big data and analytics services market is segmented:
1) By Deployment Mode: On-Premise, Cloud, Other Deployment Mode
2) By Application: Customer Analytics, Supply Chain Analytics, Marketing Analytics, Pricing Analytics, Spatial Analytics, Workforce Analytics, Risk & Credit Analytics, Transportation Analytics., Other Applications
3) By Vertical: Transportation And Logistics, BFSI, Travel And Hopitality, Healthcare And Life Sciences, Manufacturing, Other Verticals
4) By Organization Size: Small and Medium-sized Enterprises (SMEs), Large Enterprises
The continuous intelligence is a key trend in the big data and analytics services market. Continuous intelligence is a device that has combined real-time analytics with business operations, it makes use of historical and current knowledge to improve decision-making or to help make decisions. It leverages a variety of technologies such as optimization, business rule management, event stream processing, augmented analytics, and machine learning. Many companies leveraged continuous intelligence to achieve (or retain) a competitive advantage throughout 2020. Also, Gartner expects that by 2022 more than 50 per cent of the modern business structure will use continuous intelligence that uses real-time context data to improve decisions.
The big data and analytics services market report table of contents includes:
1. Executive Summary
2. Big Data and Analytics Services Market Characteristics
3. Big Data and Analytics Services Market Trends And Strategies
4. Big Data and Analytics Services Market – Macro Economic Scenario
5. Big Data and Analytics Services Market Size And Growth
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26. Africa Big Data and Analytics Services Market
27. Big Data and Analytics Services Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Big Data and Analytics Services Market
29. Big Data and Analytics Services Market Future Outlook and Potential Analysis30. Appendix
Top Major Players:
- IBM Corporation
- Oracle Corporation
- Microsoft Corporation
- SAP SE
- TIBCO Software Inc
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