According to a new report published by Allied Market Research, titled, "Big Data and Business Analytics Market," The big data and business analytics market was valued at $225.3 billion in 2023, and is estimated to reach $665.7 billion by 2033, growing at a CAGR of 11.6% from 2024 to 2033.
The surge in the adoption of big data analytics software by various organizations to deliver enhanced & faster decision-making and to provide competitive advantage by analyzing and acting upon information in a timely manner significantly boosts the growth of the global big data and business analytics market. In addition, the increase in demand for cloud-based big data analytics software among small & medium enterprises positively impacts the growth of the market. However, high implementation costs and a dearth of skilled workforce are expected to hamper the market growth. On the contrary, an increase in the need to gain better insights for business planning and emerging trends such as social media analytics are expected to offer remunerative opportunities for the expansion of the market during the forecast period. Each of these factors is projected to have a definite impact on the growth of the big data and business analytics market.
By application, the big data and business analytics market was led by the customer analytics segment in 2022 and is projected to maintain its dominance during the forecast period. Increase in competition among the key players to provide better customer satisfaction and personalized experience fuels the growth of this segment. However, the risk & credit analytics segment is expected to grow at the highest rate during the forecast period, owing to increase in complexities in the business process and rise in business process automation.
- The big data and business analytics market is segmented into component, application, industry vertical, and region. In terms of component, the market is fragmented into hardware, software, and services. By application, it is classified into customer analytics, supply chain analytics, marketing analytics, pricing analytics, spatial analytics, workforce analytics, risk & credit analytics, and transportation analytics. As per industry vertical, the market is segregated into BFSI, manufacturing, healthcare, government, energy & utilities, transportation, retail & e-commerce, IT & telecom, education, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
- The key players profiled in the big data and business analytics market analysis 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., and Teradata Corporation. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
- Key Benefits for Stakeholders
- The study provides an in-depth analysis of the big data and business analytics market forecast along with the current and future trends to explain the imminent investment pockets.
- Information about key drivers, restraints, and opportunities and their impact analysis on big data and business analytics market trends is provided in the report.
- The Porter's five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
- The quantitative analysis of the big data and business analytics market from 2023 to 2033 is provided to determine the market potential.
Additional benefits you will get with this purchase are:
- Quarterly Update and* (only available with a corporate license, on listed price)
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- Free Upcoming Version on the Purchase of Five and Enterprise User License.
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- 15% Free Customization* (in case the scope or segment of the report does not match your requirements, 15% is equivalent to 3 working days of free work, applicable once)
- Free data Pack on the Five and Enterprise User License. (Excel version of the report)
- Free Updated report if the report is 6-12 months old or older.
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- Free Industry updates and white papers.
Possible Customization with this report (with additional cost and timeline, please talk to the sales executive to know more)
- Consumer Buying Behavior Analysis
- Upcoming/New Entrant by Regions
- Technology Trend Analysis
- Go To Market Strategy
- Regulatory Guidelines
- Additional company profiles with specific to client's interest
- Additional country or region analysis- market size and forecast
- Expanded list for Company Profiles
- Historic market data
- Market share analysis of players at global/region/country level
Key Market Segments
By Application
- Customer Analytics
- Supply Chain Analytics
- Marketing Analytics
- Pricing Analytics
- Spatial Analytics
- Risk and Credit Analytics
- Transportation Analytics
- Workforce Analytics
By Component
- Service
- Software
- Deployment Model
- On-premise
- Cloud
- Analytics Tool
- Dashboard and Data Visualization
- Data Mining and Warehousing
- Reporting
- Self-Service Tools
- Others
- Hardware
By Industry Vertical
- BFSI
- IT and Telecom
- Manufacturing
- Healthcare
- Government
- Retail and E-commerce
- Education
- Others
- Energy and Utilities
- Transportation
By Region
- North America
- Europe
- UK
- Germany
- Rest of Europe
- France
- Italy
- Spain
- Russia
- Asia-Pacific
- China
- Japan
- Australia
- India
- South Korea
- Rest of Asia-Pacific
- Indonesia
- Thailand
- Malaysia
- Vietnam
- The Philippines
- Pakistan
- Bangladesh
- LAMEA
- Brazil
- Rest of LAMEA
- Mexico
- Saudi Arabia
- South Africa
- Turkey
- Argentina
- Colombia
Key Market Players:
- SAP SE
- Amazon Web Services, Inc.
- TIBCO Software Inc.
- IBM Corporation
- Microsoft Corporation
- SAS Institute Inc.
- Teradata Corporation
- Oracle Corporation
- Hewlett Packard Enterprise Development LP
- Fair Isaac Corporation