The Europe Big Data Market would witness market growth of 10.1% CAGR during the forecast period (2021-2027).
As data becomes the new wealth generator, big data solutions are likely to play an increasingly important part in how businesses grow. Organizations have always had data, but had limited capacity in obtaining and interpreting it for actionable insights. Companies can overcome these obstacles with the help of big data solutions. Big data solutions are efficient since they are open source and interoperable with most analytics systems. Furthermore, huge data does not necessitate additional data processing processes, simplifying data storage and analysis. Big data enables digital transformation, which in turn enables the automation of corporate processes and the creation of new business models. While firms can examine data on hand, it is unproductive unless the analysis results in useful insights that can be used to make strategic decisions.
The volume of data created every day in Europe is steadily increasing. These data can be combined and analyzed to provide new information and novel economic and societal solutions. A growing number of European businesses and governments are becoming aware of the advantages that big data solutions may provide. Due to a scarcity of big data scientists, European corporations are forced to outsource their big data initiatives. As a result, the European big data industry is expected to grow rapidly in order to keep up with these changes. Big data services are in high demand in Europe. This expansion is fueled by a severe dearth of skilled developers and analysts, as well as growing demand for structured data. Many big data jobs necessitate specialized knowledge, and while almost every firm can benefit from big data in some way, most organizations do not want or need to hire a big data team in-house. Outsourcing big data services have a number of advantages, including the fact that European end-user organizations do not need to hire in-house experts and thus, creating opportunities for the big data market players.
The Germany market dominated the Europe Big Data Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $18,656.1 million by 2027. The UK market is poised to grow at a CAGR of 9.2% during (2021 - 2027). Additionally, The France market would exhibit a CAGR of 11% during (2021 - 2027).
Based on Component, the market is segmented into Solution (Data Discovery, Big Data Analytics, Data Visualization, and Data Management) and Services. Based on Business Function, the market is segmented into Marketing & Sales, Finance, Human Resources, Operations, and Others. Based on Deployment Type, the market is segmented into On-premise and Cloud (Public, Private, and Hybrid). Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises (SMEs). Based on Vertical, the market is segmented into BFSI, Retail & Consumer Goods, Telecom & IT, Government & Defense, Healthcare & Life Sciences, Manufacturing, Media & Entertainment, Transportation & Logistics, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Big Data Market Size will Hit $300.7 Billion by 2027, at a CAGR of 10.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Google LLC, Oracle Corporation, Microsoft Corporation, SAS Institute, Inc., SAP SE, Alteryx, Inc., Teradata Corporation, Salesforce.com, Inc., and TIBCO Software, Inc.
By Component
By Business Function
By Deployment Mode
By Organization Size
By Vertical
By Country
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