Big Data Market - Industry Trends and Forecast to 2028

MarkNtel Advisors, a prominent market research firm, has recently published a report titled Big Data Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028. This study offers an in-depth examination of the industry, encompassing Big Data market share, size, trends, and growth predictions. Additionally, the report features an analysis of competitors and regions while spotlighting the most recent developments in the market.

Big Data Reports Highlights

What is the size of the Big Data Market?

The Global Big Data Market is expected to grow at a CAGR of around 14.7% during the forecast period, i.e., 2023-28. Most of the market is driven by the ever-increasing utilization of connected devices integrated with the Internet of Things (IoT), backed by an elevating adoption of technologies like Machine Learning (ML) algorithms, the Internet of Things (IoT), and Artificial Intelligence (AI).

It, in turn, is playing a prominent role in stimulating the use of Big Data solutions to meet the mounting need to execute edge computing. Since this term refers to the structure where processors are closer to the destination or source for data instead of clouds, the need for big data is accelerating rapidly to cater to these solutions.

What do the growth prospects and trends look like in the Big Data Industry?

Rising Concerns over Data Security - With the wide range of perks and services that big data offers to the users, the voluminous data generation also invites threats to security, in terms of fake data generation, cyberattacks, and more, which then, promulgates the need for real-time security and data privacy. The lack of these security measures is compromising the utilization of big data solutions.

Besides, other aspects like weak identity governance, low investment in the system and network security, human error, connected devices, and IoT applications are other aspects that might cause hindrances in the fledged adoption of big data across industries.

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What Components are encompassed within Big Data Market segmentation?

The report has divided the market into the following segments:

By Component

-Software

--Credit Risk Management

--Business Intelligence Solutions

--CRM Analytics

--Compliance Analytics

--Workforce Analytics

--Others (Content Analytics, Supply Chain Analytics, and Others)

-Hardware

-Services

By Deployment

-Cloud

-On-premises

-Hybrid

By Business Function

-Marketing and Sales

-Finance

-Human Resource

-Operations

By Organization Size

-Large enterprises

-Small and medium-sized enterprises (SMEs)

By End User

-BFSI

-Retail

-Healthcare

-Advertising Media

-Manufacturing

-Automotive and Transportation

-Others (IT/ITES, Telecommunication, etc.)

By Region

-North America

-South America

-Europe

-Middle East Africa

-Asia-Pacific.

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Who are the Primary Companies or Entities active in the Industry?

The report covers the major market players including:

-Fair Isaac Corporation

-Accenture PLC

-Cloudera Inc.

-Teradata Corporation

-Microsoft Corporation

-Splunk Inc.

-Amazon Web Services

-Cisco Systems Inc.

-Tableau Software

-SAP SE

-Hitachi Ltd.

-Oracle Corporation

-Dell Technologies

-IBM Corporation

-Others.

About Us-

MarkNtel Advisors is a leading research, consulting, data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial varied client base, including multinational corporations, financial institutions, governments, individuals, among others.

Our specialization in niche industries emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing forecasting, trend analysis, among others, for 15 diverse industrial verticals.

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