Big Data and Analytics Services Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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LONDON, GREATER LONDON , UK, August 22, 2024 /EINPresswire.com/ -- The big data and analytics services market has witnessed rapid expansion, growing from $137.23 billion in 2023 to $154.79 billion in 2024, reflecting a compound annual growth rate (CAGR) of 12.8%. Despite integration challenges and other hurdles, the market is anticipated to surge to $280.43 billion by 2028, driven by advancements in analytics, AI, and cloud-based solutions.
IoT Integration Fuels Growth in the Big Data and Analytics Services Market
The integration of the Internet of Things (IoT) is a crucial driver of the big data and analytics services market. IoT devices generate massive amounts of unstructured data, which is central to the big data framework. With around 44 trillion gigabytes of data produced by IoT in 2020 and over 10 billion connected sensors and computers, the increasing volume of IoT data underscores the need for robust big data solutions. This growth in IoT connectivity is expected to significantly propel the big data and analytics services market.
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Big Data And Analytics Services Market Major Companies and TrendsKey players in the market include International Business Machines Corporation, Oracle Corporation, Microsoft Corporation, SAP SE, and Amazon Web Services Inc. These companies are at the forefront of innovation, offering advanced analytics, AI, and cloud-based solutions. The market is also experiencing trends such as AI and machine learning integration, edge analytics, and enhanced data privacy and compliance.
Big Data And Analytics Services Market Segments:• By Deployment Mode: On-Premise, Cloud, Other Deployment Mode• By Application: Customer Analytics, Supply Chain Analytics, Marketing Analytics, Pricing Analytics, Spatial Analytics, Workforce Analytics, Risk & Credit Analytics, Transportation Analytics, Other Applications• By Vertical: Transportation and Logistics, BFSI, Travel and Hospitality, Healthcare and Life Sciences, Manufacturing, Other Verticals.
Geographical Insights: Asia-Pacific Leading the MarketAsia-Pacific was the largest region in the big data and analytics services market in 2023 and is projected to be the fastest-growing region in the forecast period. The comprehensive report provides detailed insights into regional dynamics, market trends, and growth opportunities.
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Big Data and Analytics Services Global Market Report 2024 from The Business Research Company covers the following information:•Market size data for the forecast period: Historical and Future•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.The Big Data and Analytics Services Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on big data and analytics services market size, big data and analytics services market drivers and trends, big data and analytics services market business intelligence, big data and analytics services market IoT integration, big data and analytics services market major players, big data and analytics services market competitors' revenues, big data and analytics services market positioning, and big data and analytics services market growth across geographies. The big data and analytics services market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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August 22, 2024, 14:53 GMT
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