The global Big Data Market size is estimated to reach USD 862.31 billion by 2030, registering to grow at a CAGR of 14.9% from 2024 to 2030 according to a new report by Grand View Research, Inc. The amount of data flowing across organizations has witnessed enormous growth over the last few years and the trend continues. Evolving consumer demands coupled with contracting budgets are impacted by the proliferating data, which puts considerable pressure on organizations to make the right decision in order to seize a competitive advantage.
Big
data solutions enable organizations to effectively manage large data volumes
thereby reducing cost. Additionally, these solutions also facilitate companies
to overcome frauds, streamline critical business processes, and reduce errors.
Further, the growing need to manage and monitor the heterogeneous nature of the
data generated from web clicks to satellite data is also anticipated to
significantly propel the industry growth over the next few years.
Increased
adoption of cloud computing has generated a large amount of data on account of
rapid technological advancements and increased connectivity, owing to
smartphone proliferation. Thus, the big data market is estimated to
witness a high demand in order to keep pace with this data explosion. However,
lack of skilled manpower including data analysts and data scientists that are
required to leverage big data capabilities is expected to hamper the demand.
There exists a huge requirement for professionals who are capable of exploiting
big data analytics in order to make valuable decisions.
List
of Key Players in the Big Data Market
- Accenture
- Cloudera,
Inc.
- OPERA
Solutions Inc.
- EMC
- Hewlett
Packard Enterprise Development LP
- IBM
- Mu Sigma.
- Oracle
- Splunk Inc.
(Cisco Systems, Inc.)
- Teradata
Request a free sample copy or view report
summary: Big Data Market Report
Big
Data Market Report Highlights
- Based on products,
the storage segment dominated the global industry and accounted for a
revenue share of 51.1% in 2023. The hard disk drive is a cost-effective
big data storage device.
- The
visualization segment is expected to experience the fastest CAGR from 2024
to 2030. One of the best advantages of data visualization is that it makes
data easily comprehensible to the general public or particular
audiences.
- The
consulting services segment has the largest revenue share in 2023. Data
evaluation and audits allow consultants to pinpoint areas for enhancement,
uncover potential risks, and suggest the best strategies for data
modernization, analytics, and more.
- The
manufacturing segment dominated the big data market in 2023. The
manufacturing industry has recently adopted multiple technologies and
automation systems.
Big
Data Market Segmentation
Grand
View Research has segmented the global big data market based on product,
technology, service, end-use, and region:
Big
Data Product Outlook (Revenue, USD Billion, 2018 - 2030)
- Storage
- Server
- Network
Equipment
Big
Data Technology Outlook (Revenue, USD Billion, 2018 - 2030)
- Analytics
- Database
- Visualization
- Distribution
Tools
- Others
Big
Data Service Outlook (Revenue, USD Billion, 2018 - 2030)
- Consulting
- Deployment
& Maintenance
- Training
& Development
Big
Data End-use Outlook (Revenue, USD Billion, 2018 - 2030)
- BFSI
- Manufacturing
- Retail
- Media &
Entertainment
- Gaming
- Healthcare
- Telecommunication
- Government
- Others
Big
Data Regional Outlook (Revenue, USD Billion, 2018 - 2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- Middle East
and Africa (MEA)
About Us:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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