The Latin America, Middle East and Africa Big Data and Business Analytics Market would witness market growth of 16.2% CAGR during the forecast period (2021-2027).
Companies are increasing their investment in automation & optimization of various business processes to better fulfill their customer demands, as well as decrease their operational cost. Furthermore, inventory management, supply chain management, and proper information associated with the customers, employees, and each person assist the analytics to generate more profitable insight in a cost-effective way.
Therefore, several organizations are motivated to adopt big data and business analytics for detecting and decreasing the chances of errors in the operations that can lead to a reduction in the overall profit of the companies. There are numerous organizations that are leveraging these solutions to improve their business process and cost-efficiency via real-time access to crucial data and consistently updating data like job views, schedules & dispatch, and customer queries to carry out their work with agility.
The increasing adoption of various technologies like augmented reality (AR), virtual reality (VR), and mixed reality (MR) in this region is fueling the growth of regional market. It is because these technologies are considered as data immersive technologies and need high bandwidth for operations, which would lead to the generation of a massive volume of data. The companies working in the agriculture and entertainment sector of the region are increasingly utilizing AR, which would boost the demand for the big data and business analytics market during the forecast period.
The massive utilization of big data and business analytics services in the processing of a huge volume of data stored across the companies would fuel the growth of the regional big data and business analytics market during the forecast period. Data warehousing companies extract information from the dataset that assists users in making informed decisions, hence optimizing the capability of these solutions in managing complicated databases. All these factors are anticipated to augment the growth of the big data and business analytics market during the forecast period.
The Brazil market dominated the LAMEA Cloud Big Data and Business Analytics Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $5,080.1 million by 2027. The Argentina market would witness a CAGR of 17.9% during (2021 - 2027). Additionally, The UAE market is estimated to grow at a CAGR of 17.1% during (2021 - 2027).
Based on Component, the market is segmented into Services, Software and Hardware. Based on Analytics Tool, the market is segmented into Dashboard & Data Visualization, Self-Service Tools, Data Mining & Warehousing, Reporting, and Others. Based on Deployment Type, the market is segmented into On-premise and Cloud. Based on Application, the market is segmented into Customer Analytics, Marketing Analytics, Risk & Credit Analytics, Workforce Analytics, Supply Chain Analytics, and Others. Based on Industry Vertical, the market is segmented into BFSI, IT & Telecom, Healthcare, Retail & eCommerce, Government & Defense, Transportation, Manufacturing, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Big Data and Business Analytics Market is Predict to reach $448 Billion by 2027, at a CAGR of 13%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Amazon Web Services, Inc., Fair Isaac Corporation, Hewlett Packard Enterprise, IBM Corporation, Microsoft Corporation, Oracle Corporation, SAP SE, SAS Institute Inc., Tibco Software Inc., and Teradata Corporation.
By Component
By Analytics Tool
By Deployment Type
By Application
By Industry Vertical
By Country
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