PUBLISHER: Roots Analysis | PRODUCT CODE: 1821510
PUBLISHER: Roots Analysis | PRODUCT CODE: 1821510
As per Roots Analysis, the global big data market size is estimated to grow from USD 262.87 billion in the current year to USD 1,019 billion by 2035, at a CAGR of 13.10% during the forecast period, till 2035.
The opportunity for big data market has been distributed across the following segments:
Type of Component
Areas of Application
Type of Industry Vertical
Type of Delivery Mode
Type of Technology
Type of Business Function
Company Size
Geographical Regions
Big Data Market: Growth and Trends
Big data refers to extremely large collections of structured, unstructured, or semi-structured datasets that continually grow over time. Traditional data management systems find it difficult to store or process these enormous datasets due to their intricate velocity, volume, and variety, which presents challenges for conventional systems in analyzing and deriving insights. The growing emphasis on gathering, storing, and leveraging data across various business aspects, combined with the increasing demand for sophisticated analytics solutions and trends like real-time processing, is likely to drive substantial growth in the big data market in the upcoming years.
The escalating influence of AI on big data analytics and machine learning (ML) is expected to aid in the integration of advanced tools with big data, allowing for the processing of highly complex datasets and providing remarkable analytical insights. Further, owing to the ongoing research and development initiatives in areas such as cloud-based big data solutions, industry-specific analytical tools, big data market is expected to grow significantly during the forecast period.
Big Data Market: Key Segments
Based on type of component, the global big data market is segmented into hardware, services and software. According to our estimates, currently, the software segment captures the majority of the market share. This growth can be attributed to the diverse range of solutions offered in this segment, such as credit risk management, business intelligence, CRM analytics, compliance analytics, workforce analytics, and others.
As organizations move towards digital platforms, there is a noticeable increase in the adoption of business intelligence solutions, customer relationship management tools, and workforce analytics. These solutions empower organizations by providing real-time insights, predictive capabilities, and data visualization, which ultimately improve their decision-making processes.
Based on areas of application, the global big data market is segmented into advanced analytics, data discovery and visualization, and others. According to our estimates, currently, the advanced analytics segment captures the majority of the market share. It is anticipated that this segment will continue to lead as businesses increasingly depend on advanced analytical methods to understand complex datasets and improve operational efficiency.
However, the data discovery and visualization segment is expected to grow at a relatively higher CAGR during the forecast period. This growth can be attributed to the increasing need for tools that allow users to easily visualize and understand large amounts of data, facilitating faster insights and encouraging a data-driven environment within organizations.
Based on type of industry vertical, the global big data market is segmented into aerospace & defense, BFSI, energy & power, engineering & construction, healthcare & pharmaceuticals, manufacturing, media & entertainment, retail, telecom & IT, transportation & logistics. According to our estimates, currently, the BFSI segment captures the majority of the market share. This can be attributed to the growing demand for real-time analysis of extensive transactional data to uncover fraud, mitigate risks, and tailor customer services.
However, the healthcare and pharmaceutical sector is expected to grow at a relatively higher CAGR during the forecast period. This growth is primarily attributed to the increasing need for advanced analytics aimed at enhancing patient outcomes, optimizing operations, and adhering to regulatory standards. The adoption of big data technologies in healthcare allows organizations to examine large amounts of patient data for insights that improve care delivery and operational effectiveness.
Based on type of delivery mode, the global big data market is segmented into cloud and on-premises. According to our estimates, currently, the cloud segment captures the majority of the market share. This growth can be attributed to its improved scalability, flexibility, and cost-effectiveness. Organizations are increasingly leaning towards cloud solutions because they facilitate the rapid deployment of applications without requiring extensive IT infrastructure, allowing businesses to access big data tools quickly and efficiently.
Based on type of technology, the global big data market is segmented into analytics, database, distribution tools, machine learning and Hadoop, predictive analytics, visualization and others. According to our estimates, currently, the analytics segment captures the majority of the market share. This can be attributed to the growing application of data analytics across various sectors, such as healthcare, media and entertainment, transportation, banking, and e-commerce. However, the visualization segment is expected to grow at a relatively higher CAGR during the forecast period. This can be attributed to the ease of access to data that visualization offers, which enhances opportunities for exploration and collaboration, thereby facilitating informed decision-making.
Based on type of business function, the global big data market is segmented into finance, human resources, marketing and sales, and operations. According to our estimates, currently, the marketing and sales segment captures the majority of the market share. This can be attributed to the growing demand for data-driven marketing analytics solutions aimed at enhancing customer engagement, optimizing campaigns, and boosting sales performance.
However, the human resources segment is expected to grow at a relatively higher CAGR during the forecast period, owing to the broader acceptance of big data analytics in HR functions, including talent acquisition, employee performance management, and workforce planning
Based on company size, the global big data market is segmented into large and small and medium enterprise. According to our estimates, currently, the large enterprise segment captures the majority of the market share. However, the small and medium enterprises are expected to grow at a relatively higher CAGR during the forecast period. This can be attributed to their agility, innovation, focus on specialized markets, and capacity to adapt to evolving customer preferences and market dynamics.
Based on geographical regions, the big data market is segmented into North America, Europe, Asia, Latin America, Middle East and North Africa, and the rest of the world. According to our estimates, currently, North America captures the majority share of the market. This can be attributed to the rise in investments by organizations in research and development efforts aimed at enhancing efficiency and streamlining operational procedures is also driving market expansion.
Big Data Market: Research Coverage
The report on the big data market features insights on various sections, including:
Key Questions Answered in this Report
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