Big Data and Business Analytics Market Research Report 2021, Size, CAGR Value, Growth Rate, Latest Trends, Future Demand, Business Investment Plans, SWOT Analysis, Forecast to 2030

In a recently published report, Big Data and Business Analytics Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Big Data and Business Analytics Market products.

“Final Report will add the analysis of the impact of COVID-19 on this industry.”

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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further.

Global Big Data and Business Analytics Market is valued approximately USD 193.14 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 10.90 % over the forecast period 2020-2027. Big Data and Business Analytics is a method by which companies examine large set of data for uncovering useful information to increase decision-making capability. In addition, it enables organizations to uncover useful information such as business analytics and big data market trends, discover hidden patterns, customer preference and various unknown facts from the data. Also, the organizations are adopting big data analytics to increase their analytics skills, enhance profit and to improve the risk management capability. Additional, big data analytics further helps businesses to better understand the information contained within the data and provide data that is important for enterprises. Also, the key players are focusing on strategies such as product launch, innovation and merger & acquisition to sustain themselves amidst fierce competition. The growth of the market is attributed owing to the surge in adoption of big data analytics software by analyzing and acting upon information in a timely manner significantly towards the growth of the market. Also, increase in demand for cloud-based big data analytics software among medium and small enterprises positively impact the growth of the market.

As per the New Vantage Partners, the number of firms investing more than $500 million annually in big data has grown from 12.7% in 2018 to 21.1% in 2019. Also, businesses are spending $187 billion on big data and analytics in 2019, according to the Worldwide Semi-annual Big Data and Analytics Spending Guide released by IDC. As in January 2019, Secova launched a new SaaS Benefits Administration platform named iPlan to support and streamline administering benefits for small to mid- sized organizations with a creative user interface. iPlan’s cloud based, Mobile friendly, employee-facing tool comes with a shopping cart style experience to enable an informed and educated benefits elections. However, high implementation cost and dearth of skilled workforce is hampering the growth of the market during the forecast period of 2020-2027.

The regional analysis of global Big Data and Business Analytics market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region due to the surge in demand for digital transformation across numerous end users and increase in convergence of different technologies, such as artificial intelligence (AI) and big data & analytic. Whereas Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027.

Major market player included in this report are:
Amazon Web Services
Fair Isaac Corporation
IBM Corporation
Microsoft Corporation
Oracle Corporation
Hewlett Packard Enterprise Development LP
SAP SE
SAS Institute Inc.
TIBCO Software Inc.
Teradata Corporation

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

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The detailed segments and sub-segment of the market are explained below:
By Component:
Hardware
Software
Service
By Deployment Model:
On-premise
Cloud
By Analytics Tools:
Dashboard & Data Visualization
Data Mining & Warehousing
Self-service Tools
Reporting
Others
By Application:
Customer Analytics
Supply Chain Analytics
Marketing Analytics
Pricing Analytics
Spatial Analytics
Workforce Analytics
Risk & Credit Analytics
Transportation Analytics
By Industry Vertical:
BFSI
Manufacturing
Healthcare
Government
Energy & Utilities
Transportation
Retail & E-commerce
IT & Telecom
Education
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027

Target Audience of the Global Big Data and Business Analytics Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors

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About Kenneth Research

Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation

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