Big Data Market Overview
The global Big Data Market size was valued at USD 164.5 billion in 2021 and is projected to reach USD 337.2 billion by 2028, growing at a CAGR of 10.8 % during the forecast period.
Big Data is a collection of structured, semi-structured, and unstructured information that is complex and high in volume to deal with traditional data-processing application software. The big data market is increasingly gaining high traction among a wide range of end-use sectors to efficiently manage large quantities of data. The exponential rise in data volume and increasing integration of digital transformation in top-level strategies, coupled with the surge in data connectivity through cloud computing are the primary factors that are attributing to the market growth around the world. In addition, the rising proliferation of technologies and big data analytics, as well as growing investment in IT sectors by businesses are further presenting various growth prospects for the global market growth over the forecasting years.
COVID-19 Impact Analysis
The outbreak of COVID-19 has drastically impacted the global economy and various business operations. During this pandemic, the utilization of big data has been accelerated among various businesses and governments to digitally store real-time data and information about infected people. In addition, the rising trend toward digital transformation in the industrial, healthcare, retail, and other sectors are augmenting data generation. Automation in the manufacturing sector is fueled by the industrial internet of things (IoT) and artificial intelligence (AI), which helps in network manufacturing, inventory management, real-time alerts, asset management, and predictive maintenance. Accordingly, the deployment of this technology supports effectively reducing the danger of coronavirus spread. Big data systematically preserve all data associated with the patients who have been infected, recovered from, and died due to coronavirus. It also assists epidemiologists, medical professionals, and scientists by allowing them to create informed decisions. However, limited consumer and corporate spending across further end-use industries including retail, transportation, and others is anticipated to hamper the market development.
Big Data Market Segmentation
The global Big Data Market is segmented based on Components (solutions, big data analytics, data discovery, data visualization, data management, services, support and maintenance, and consulting), based on Deployment Mode (Cloud, Public Cloud, Private Cloud, Hybrid Cloud, On-premises), based on by Organization Size (Small and Medium-Sized Enterprises, Large Enterprises), based on by Business Function (Finance, Marketing, and Sales, Human Resources, Operations), based on by Vertical (BFSI, Government and Defense, Healthcare and Life Sciences, Manufacturing, Retail, and Consumer Goods, Media and Entertainment, Telecommunications and IT, Transportation, and Logistics, Other Verticals)
The public cloud segment is expected to be the largest segment of the Big Data Market
Based on Deployment Mode, the public cloud segment dominates the global big data market with the highest number of shares. A public cloud is a set of hardware, services, storage, networking, apps, and interfaces that are owned, managed, and provided to other companies and third parties. The cloud service provider can use various locations to assist a large number of clients and also offer them computing storage or services optimized to accommodate their workloads. Thereby, the public cloud makes big data technologies affordable, and more scalable to both large enterprises and/or small and medium-sized enterprises, which is fueling the segment growth in the global market.
The retail and consumer goods segments are expected to witness the highest CAGR over the forecast period
Based on vertical, the market is segmented into BFSI, government and defense, healthcare and life sciences, manufacturing, retail, consumer goods, media and entertainment, telecommunications and IT, transportation and logistics, and other verticals. The BFSI segment is dominating the global market owing to the strong need for real-time monitoring of customer service feedback. In addition, big data analytics application is assisting the BFSI sector in effectively acquiring, retaining, and growing its customer base. For instance, Singapore-based Citibank provides retailing discounts based on customers’ past transactional habits.
On the other hand, retail and consumer goods are expected to attain maximum revenue share over the forthcoming scenario. Retailers are highly adopting cutting-edge analy0074ical technologies to better understand consumer preferences and shifting market trends. Accordingly, rising focus on gathering and accumulating data in the retail and consumer goods segment to gain better insights. This helps in analyzing the data and making accurate judgments that improve operational effectiveness, risk management, and cost containment, which is augmenting the segment growth shortly.
Big Data Market Dynamics:
Drivers:
High adoption of technologies and big data analytics across various industries
The rapid proliferation of digital solutions and technologies such as Artificial Intelligence (AI), Machine Learning (ML), Internet of things (IoT), blockchain, and data analytics is shifting trend towards the big data technology. According to International Data Corporation (IDC), the total expenditure on IoT is projected to reach USD 1.2 trillion in 2022. Also, Cisco reported that it was estimated that approximately 500 billion devices are likely to be connected to the internet by 2030. Accordingly, the incorporation of these technologies assists organizations to improve their visualization capabilities to create complicated data usable and more accessible in a visual representation. Business intelligence tools are used by ML tools to analyze both structured and unstructured data and make insights regarding the sales, price, and quantity to reach the target customers. Therefore, various key market players are emphasizing introducing advanced solutions based on core technologies like AI and others. For instance, in May 2020, HSBC Holdings Plc announced that the company entered into a partnership with IBM Watson and EquBot, Inc. to introduce the company’s US Equity Index (AiPEX) family powered by AI and big data. The primary objective of this initiative is to present value-driven retirement solutions for the retail market. Hence, these factors are acting as catalyzing factors that are stipulating the market demand, which is augmenting the market expansion across the globe.
Regional Analysis:
Asia Pacific is expected to grow at the highest CAGR over the forecasting years
APAC is anticipated to grow at the highest in the forecasting period owing to the rising acceptance of emerging technologies, as well as the increasing requirements to gain insights for business planning. In addition, the rapid penetration of IoT devices and the increasing adoption of connected devices are also attributed to the growth of the big data market. Growing industrialization leads to a high rise in business deals including joint ventures, mergers, and acquisitions in the various industry verticals. As a result, to manage their important data, improve data security, and maximize company productivity, enterprises are progressively adopting big data. Moreover, the presence of emerging economies such as India and China are further leveraging various opportunities, which are responsible for the growth of the regional market.
Key Market Players and Competitive Landscape
Some of the key market players performing in the global Big Data market are:
- Google Inc. (US)
- Microsoft Cooperation (US)
- Sisense (US)
- COGITO (US)
- SAP SE (Germany)
- Firebolt (US)
- IBM (US)
- Cloudera (US)
- Informatica (US)
- AWS (US)
- Oracle Cooperation (US)
- Accenture (Ireland)
- Teradata (US)
- TIBCO (US)
- Salesforce (US)
The Beyond Market Insights research has segmented the Global Big Data Market report based on Component, Deployment Mode, Organization Size, Business Function, Vertical, and region
Big Data Market, Component Outlook:
- Solutions
- Big Data Analytics
- Data Discovery
- Data Visualization
- Data Management
- Services
- Support and maintenance
- Consulting
Big Data Market, Deployment Mode Outlook
- Cloud
- Public Cloud
- Private Cloud
- Hybrid Cloud
- On-premises
Big Data Market, Organization Size Outlook
- Small and Medium-Sized Enterprises
- Large Enterprises
Big Data Market, Business Function Outlook
- Finance
- Marketing and Sales
- Human Resources
- Operations
Big Data Market, Vertical Outlook
- BFSI
- Government and Defense
- Healthcare and Life Sciences
- Manufacturing
- Retail and Consumer Goods
- Media and Entertainment
- Telecommunications and IT
- Transportation and Logistics
- Other Verticals
Big Data Market, Regional Outlook
- North America
- Europe
- France
- Germany
- United Kingdom
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- Rest of the APAC
- Latin America
- Mexico
- Brazil
- Rest of Latin America
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
- Rest of the Middle East & Africa
Scope Of the Big Data Market Report
| Report Attribute | Details |
| Market size value in 2022 | USD 164.5 billion |
| Revenue forecast in 2028 | USD 337.2 billion |
| Growth Rate | CAGR of 10.8 % from 2022 to 2028 |
| Base year for estimate | 2021 |
| Historical data | 2017 – 2021 |
| Forecast period | 2022 – 2028 |
| Quantitative units | Revenue in USD million and CAGR from 2022 to 2028 |
| Report Coverage | Revenue forecast, company ranking, Trends
competitive landscape, and growth factors |
| Segments Covered | Component, Deployment Mode, Organization Size,
Business Function, Vertical, Region |
| Regional scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
| Country scope | U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico and Others |
| Key companies profiled | Google Inc. (US), Microsoft Cooperation (US), Sisense (US), COGITO (US), SAP SE (Germany)
Firebolt (US), IBM (US), Cloudera (US), Informatica (US), AWS (US), Oracle Cooperation (US)
Accenture (Ireland), Teradata (US), TIBCO (US), Salesforce (US) |
Table of Content
Big Data Market Size, Share, Growth, and Forecast Report
1. Introduction
1.1. Report Description
1.1.1. Aim of the Report
1.1.2. Prospective Audience
1.1.3. Unique Selling Prepositions and Key Takeaways from the Report
1.2. Scope of the Research Study
1.3. Approach/Research Methodology
1.3.1. Secondary Research
1.3.2. Primary Research
1.3.3. Expert Panel Review
1.3.4. Market Data Breakdown and Data Triangulation
1.3.5. Research Approach for Market Size Estimation
1.3.5.1. Top-Down Approach
1.3.5.2. Bottom-Up Approach
1.3.6. Key Assumptions
1.4. Market Segmentation
1.4.1. Component
1.4.2. Deployment Mode
1.4.3. Organization Size
1.4.4. Business Function
1.4.5. Vertical
2. Market Overview
2.1. Introduction
2.2. Analysis by Component, 2016-2028 (US$ Million)
2.3. Analysis by Deployment Mode, 2016-2028 (US$ Million)
2.4. Analysis by Organization Size, 2016-2028 (US$ Million)
2.5. Analysis by Business Function, 2016-2028 (US$ Million)
2.6. Analysis by Vertical, 2016-2028 (US$ Million)
2.7. Market Analysis by Region, 2016-2028 (US$ Million)
3. Big Data Market Dynamics
3.1. Introduction
3.2. Growth Drivers
3.3. Growth Restraints
3.4. Growth Opportunities
3.5. Porter’s Five Forces Analysis
3.5.1. Threat of New Entrants
3.5.2. Bargaining Power of Buyers/Consumers
3.5.3. Bargaining Power of Suppliers
3.5.4. Threat of Substitute Types
3.5.5. Intensity of Competitive Rivalry
3.6. Attractiveness Analysis
3.6.1. Component
3.6.2. Deployment Mode
3.6.3. Organization Size
3.6.4. Business Function
3.6.5. Vertical
3.6.6. Region
3.7. Value Chain Analysis
4. Big Data Market Competition Analysis
4.1. Big Data Market Share Analysis by Company, 2019 – 2021
4.1.1. Top 3 Players, 2019 – 2021
4.1.2. Top 6 Players, 2019 – 2021
4.2. Strategic Initiatives
4.2.1. New Products Launch
4.2.2. Mergers/Acquisitions
4.2.3. Agreement and Collaborations
4.2.4. Partnerships, Joint Ventures, Expansion and Distribution
5. Global Big Data Market Analysis by Component, Deployment Mode, Organization Size, Business Function and Vertical, 2016-2028 (US$ Million)
5.1. Component
5.1.1. Global Big Data Market Share, by Component, 2021 and 2028
5.1.2. Global Big Data Market Revenue, by Component, 2016-2028 (US$ Million)
5.1.3. By Solutions Market Analysis 2016-2028 (US$ Million)
5.1.4. By Big Data Analytics Market Analysis 2016-2028 (US$ Million)
5.1.5. By Data Discovery Market Analysis 2016-2028 (US$ Million)
5.1.6. By Data Visualization Market Analysis 2016-2028 (US$ Million)
5.1.7. By Data Management Market Analysis 2016-2028 (US$ Million)
5.1.8. By Services Market Analysis 2016-2028 (US$ Million)
5.1.9. By Support and maintenance Market Analysis 2016-2028 (US$ Million)
5.1.10. By Consulting Market Analysis 2016-2028 (US$ Million)
5.2. Deployment Mode
5.2.1. Market Share, by Deployment Mode, 2021 and 2028
5.2.2. Market Revenue, by Deployment Mode, 2016-2028 (US$ Million)
5.2.3. By Cloud Market Analysis 2016-2028 (US$ Million)
5.2.4. By Public Cloud Market Analysis 2016-2028 (US$ Million)
5.2.5. By Private Cloud Market Analysis 2016-2028 (US$ Million)
5.2.6. By Hybrid Cloud Market Analysis 2016-2028 (US$ Million)
5.2.7. By On-premises Market Analysis 2016-2028 (US$ Million)
5.3. Organization Size
5.3.1. Market Share, by Organization Size, 2021 and 2028
5.3.2. Market Revenue, by Organization Size, 2016-2028 (US$ Million)
5.3.3. Small and Medium-Sized Enterprises Market Analysis 2016-2028 (US$ Million)
5.3.4. Large Enterprises Market Analysis 2016-2028 (US$ Million)
5.4. Business Function
5.4.1. Market Share, by Business Function, 2021 and 2028
5.4.2. Market Revenue, by Business Function, 2016-2028 (US$ Million)
5.4.3. Finance Market Analysis 2016-2028 (US$ Million)
5.4.4. Marketing and Sales Market Analysis 2016-2028 (US$ Million)
5.4.5. Human Resources Market Analysis 2016-2028 (US$ Million)
5.4.6. Operations Market Analysis 2016-2028 (US$ Million)
5.5. Vertical
5.5.1. Market Share, by Vertical, 2021 and 2028
5.5.2. Market Revenue, by Vertical, 2016-2028 (US$ Million)
5.5.3. BFSI Market Analysis 2016-2028 (US$ Million)
5.5.4. Government and Defense Market Analysis 2016-2028 (US$ Million)
5.5.5. Healthcare and Life Sciences Market Analysis 2016-2028 (US$ Million)
5.5.6. Manufacturing Market Analysis 2016-2028 (US$ Million)
5.5.7. Retail and Consumer Goods Market Analysis 2016-2028 (US$ Million)
5.5.8. Media and Entertainment Market Analysis 2016-2028 (US$ Million)
5.5.9. Telecommunications and IT Market Analysis 2016-2028 (US$ Million)
5.5.10. Transportation and Logistics Market Analysis 2016-2028 (US$ Million)
5.5.11. Other Verticals Market Analysis 2016-2028 (US$ Million)
6. Global Big Data Market Component Analysis by Region, 2016-2028 (US$ Million)
6.1. Solutions Market Analysis 2016-2028 (US$ Million)
6.1.1. North America
6.1.2. Europe
6.1.3. Asia Pacific
6.1.4. Latin America
6.1.5. Middle East & Africa
6.2. Big Data Analytics
6.3. Data Discovery
6.4. Data Visualization
6.5. Data Management
6.6. Services
6.7. Support and maintenance
6.8. Consulting
7. Global Big Data Market Deployment Mode Analysis by Region, 2016-2028 (US$ Million)
7.1. Cloud Market Analysis 2016-2028 (US$ Million)
7.1.1. North America
7.1.2. Europe
7.1.3. Asia Pacific
7.1.4. Latin America
7.1.5. Middle East & Africa
7.2. Public Cloud
7.3. Private Cloud
7.4. Hybrid Cloud
7.5. On-premises
8. Global Big Data Market Organization Size Analysis by Region, 2016-2028 (US$ Million)
8.1. Small and Medium-Sized Enterprises Market Analysis 2016-2028 (US$ Million)
8.1.1. North America
8.1.2. Europe
8.1.3. Asia Pacific
8.1.4. Latin America
8.1.5. Middle East & Africa
8.2. Large Enterprises
9. Global Big Data Market Business Function Analysis by Region, 2016-2028 (US$ Million)
9.1. Finance Market Analysis 2016-2028 (US$ Million)
9.1.1. North America
9.1.2. Europe
9.1.3. Asia Pacific
9.1.4. Latin America
9.1.5. Middle East & Africa
9.2. Marketing and Sales
9.3. Human Resources
9.4. Operations
10. Global Big Data Market Vertical Analysis by Region, 2016-2028 (US$ Million)
10.1. BFSI Market Analysis 2016-2028 (US$ Million)
10.1.1. North America
10.1.2. Europe
10.1.3. Asia Pacific
10.1.4. Latin America
10.1.5. Middle East & Africa
10.2. Government and Defense
10.3. Healthcare and Life Sciences
10.4. Manufacturing
10.5. Retail and Consumer Goods
10.6. Media and Entertainment
10.7. Telecommunications and IT
10.8. Transportation and Logistics
10.9. Other Verticals
11. Big Data Market Analysis by Geography, 2016-2028 (US$ Million)
11.1. North America Big Data Market Analysis 2016-2028 (US$ Million)
11.1.1. U.S. Big Data Market Analysis 2016-2028 (US$ Million)
11.1.1.1. Component
11.1.1.2. Deployment Mode
11.1.1.3. Organization Size
11.1.1.4. Business Function
11.1.1.5. Vertical
11.1.2. Canada Big Data Market Analysis 2016-2028 (US$ Million)
11.1.3. Mexico Big Data Market Analysis 2016-2028 (US$ Million)
11.2. Europe Big Data Market Analysis 2016-2028 (US$ Million)
11.2.1. UK Big Data Market Analysis 2016-2028 (US$ Million)
11.2.1.1. Component
11.2.1.2. Deployment Mode
11.2.1.3. Organization Size
11.2.1.4. Business Function
11.2.1.5. Vertical
11.2.2. France Big Data Market Analysis 2016-2028 (US$ Million)
11.2.3. Germany Big Data Market Analysis 2016-2028 (US$ Million)
11.2.4. Spain Big Data Market Analysis 2016-2028 (US$ Million)
11.2.5. Russia Big Data Market Analysis 2016-2028 (US$ Million)
11.2.6. Italy Big Data Market Analysis 2016-2028 (US$ Million)
11.2.7. Rest of Europe Big Data Market Analysis 2016-2028 (US$ Million)
11.3. Asia Pacific Big Data Market Analysis 2016-2028 (US$ Million)
11.3.1. China Big Data Market Analysis 2016-2028 (US$ Million)
11.3.1.1. Component
11.3.1.2. Deployment Mode
11.3.1.3. Organization Size
11.3.1.4. Business Function
11.3.1.5. Vertical
11.3.2. Japan Big Data Market Analysis 2016-2028 (US$ Million)
11.3.3. South Korea Big Data Market Analysis 2016-2028 (US$ Million)
11.3.4. India Big Data Market Analysis 2016-2028 (US$ Million)
11.3.5. Australia Big Data Market Analysis 2016-2028 (US$ Million)
11.3.6. Southeast Asia Big Data Market Analysis 2016-2028 (US$ Million)
11.3.7. Taiwan Big Data Market Analysis 2016-2028 (US$ Million)
11.3.8. Rest of Asia Pacific Big Data Market Analysis 2016-2028 (US$ Million)
11.4. Latin America Big Data Market Analysis 2016-2028 (US$ Million)
11.4.1. Brazil Big Data Market Analysis 2016-2028 (US$ Million)
11.4.1.1. Component
11.4.1.2. Deployment Mode
11.4.1.3. Organization Size
11.4.1.4. Business Function
11.4.1.5. Vertical
11.4.2. Argentina Big Data Market Analysis 2016-2028 (US$ Million)
11.4.3. Rest of Latin America Big Data Market Analysis 2016-2028 (US$ Million)
11.5. Middle East Big Data Market Analysis 2016-2028 (US$ Million)
11.5.1. Israel Big Data Market Analysis 2016-2028 (US$ Million)
11.5.2. Turkey Big Data Market Analysis 2016-2028 (US$ Million)
11.5.3. Saudi Arabia Big Data Market Analysis 2016-2028 (US$ Million)
11.5.4. UAE Big Data Market Analysis 2016-2028 (US$ Million)
11.5.5. Rest of Middle East Big Data Market Analysis 2016-2028 (US$ Million)
11.6. Africa Big Data Market Analysis 2016-2028 (US$ Million)
11.6.1. Egypt Big Data Market Analysis 2016-2028 (US$ Million)
11.6.1.1. Component
11.6.1.2. Deployment Mode
11.6.1.3. Organization Size
11.6.1.4. Business Function
11.6.1.5. Vertical
11.6.2. South Africa Big Data Market Analysis 2016-2028 (US$ Million)
11.6.3. Rest of Africa Big Data Market Analysis 2016-2028 (US$ Million)
12. Company Profiles
12.1. Google Inc.
12.1.1. Company Overview
12.1.2. Financial Performance
12.1.3. Product Benchmarking
12.1.4. Strategic Initiatives
12.2. Microsoft Cooperation (US)
12.3. Sisense (US)
12.4. COGITO (US)
12.5. SAP SE (Germany)
12.6. Firebolt (US)
12.7. IBM (US)
12.8. Cloudera (US)
12.9. Informatica (US)
12.10. AWS (US)
12.11. Oracle Cooperation (US)
12.12. Accenture (Ireland)
12.13. Teradata (US)
12.14. TIBCO (US)
12.15. Salesforce (US)
13. COVID-19 Impact Analysis
13.1. Global Big Data Market, 2020 – 2028, Pre-V/S Post COVID 19
13.2. Estimated Impact of The Coronavirus (Covid-19) Epidemic on the Big Data Market Size In 2022, By Scenario
13.3. Impact on Supply Chain and Production in Big Data Market
13.4. Impact on Import and Export
14. Import-Export Analysis
14.1. North America Big Data Import-Export, 2016 – 2021
14.2. Europe Big Data Import-Export, 2016 – 2021
14.3. Asia Pacific Big Data Import-Export, 2016 – 2021
14.4. Latin America Big Data Import-Export, 2016 – 2021
14.5. Middle East America Big Data Import-Export, 2016 – 2021
14.6. Africa Big Data Import-Export, 2016 – 2021
15. Big Data Marketing Channel Analysis
15.1. Marketing Channel
15.1.1. Direct Marketing
15.1.2. Indirect Marketing
15.1.3. Development Trend
15.2. Market Positioning
16. Big Data Manufacturing Cost Analysis
16.1. Key Raw Materials
16.2. Key Raw Material Suppliers
16.3. Market Concentration Rate
16.4. Manufacturing Cost Structure
16.5. Process Analysis
17. Conclusion
Big Data Market, Component Outlook:
- Solutions
- Big Data Analytics
- Data Discovery
- Data Visualization
- Data Management
- Services
- Support and maintenance
- Consulting
Big Data Market, Deployment Mode Outlook
- Cloud
- Public Cloud
- Private Cloud
- Hybrid Cloud
- On-premises
Big Data Market, Organization Size Outlook
- Small and Medium-Sized Enterprises
- Large Enterprises
Big Data Market, Business Function Outlook
- Finance
- Marketing and Sales
- Human Resources
- Operations
Big Data Market, Vertical Outlook
- BFSI
- Government and Defense
- Healthcare and Life Sciences
- Manufacturing
- Retail and Consumer Goods
- Media and Entertainment
- Telecommunications and IT
- Transportation and Logistics
- Other Verticals
