Internet of Things (IoT) and big data have become more of a necessity for organizations than just emerging technologies. Internet of Things has recently been highly adopted as it creates an interconnected world for every individual and organization. With the rise in adoption of IoT devices the volume of unstructured data also has been constantly increasing. All devices such as sensors, smart phones, and other connected devices gather, analyze, share, and transmit data based on real time. Therefore, without data these IoT devices are not able to function with utmost capabilities. Big data analytics is thus applied to analyze all the data collected by these connected devices, which further helps in the decision making process of organizations. This is leading to the increased adoption of data analytics, contributing to the overall growth of the big data analytics market over the forecast period.
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The IoT connected devices coupled with data analytics in further enhancing the productivity and efficiency across various verticals such as healthcare, manufacturing and transportation, amongst others. For instance, if we consider the healthcare vertical, IoT and big data enhances the efficiency of health care systems by driving hypothesis-driven research to data-driven research transformation. IoT helps to control and analyze various levels of connections between different sensor signals and existing data. This enables for new ways of diagnosis with a better understanding of the disease which leads to the development of innovative solutions in the healthcare sector. On the other hand, manufacturing companies use sensors within machineries that collects huge volume of operational data which helps in the in-depth analysis of the performance and efficiency of each equipment. This helps in reduction of significant expenses and also minimizes machine downtime. Similarly, sensors are installed in vehicles to track them. Data collected through these sensors helps in analyzing the fuel efficiency of the vehicles and track down the routes used by the driver. This information is used in optimization of fleets and improving organizational productivity. These advancements are constantly increasing the adoption of IoT devices thereby leading to the rising adoption of big data analytics. Owing to this the big data analytics market is expected to grow rapidly over the forecast period.
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The detailed research study provides qualitative and quantitative analysis of big data analytics market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
Key Findings of the Report:
In terms of revenue, the global big data analytics market was estimated to be US$ 21.92 Bn in 2018 and is expected to grow at a CAGR of 23.99% over the forecast period.
On the basis of deployment, on-premise segment accounted for the highest share in 2018, owing to preferences of organizations to deploy on-premise analytical solutions to secure documents from any risk of data loss and theft.
On the basis of region, North America accounted for the highest share in 2018 owing to the increasing expansion strategies adopted by the big tech firms across the region.
On the basis of vertical, banking, financial services and insurance accounted for the highest share in 2018 owing to constantly increasing investments in fintech by companies.
On the basis of organization size, large organizations accounted for the highest share in 2018 because large enterprises are constantly focusing on keeping the level of brand awareness among general population high and maintain an all-inclusive stance with respect to product quality.
Some of the players operating in the big data analytics market are Amazon Web Services, Inc, Cisco Systems Inc, Dell Inc, Goggle LLC, Hewlett Packard Enterprise Development LP, IBM Corporation, Intel Corporation, Microsoft, MicroStrategy Incorporated, Mu Sigma, Oracle, QlikTech International AB, SAP SE, SAS Institute Inc, Splunk Inc, TABLEAU SOFTWARE, Teradata, TIBCO Software Inc, VMware, Inc, and Zoho Corporation Pvt. Ltd amongst others.
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Global Big Data Analytics Market:
By Deployment Model
Banking Financial Services and Insurance
Energy and Utilities
Food and Beverages
Healthcare and Pharmaceutical
Information Technology and Telecommunications
Media and Entertainment
Transportation and Logistics
By Organization Size
Small and Medium Sized Enterprise
Rest of North America
Rest of Europe
Rest of Southeast Asia
Rest of Asia Pacific
Middle East and Africa
Rest of Middle East & Africa
Rest of Latin America
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