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According to a new report Global Big Data and Business Analytics Market, published by KBV research, The Global Big Data and Business Analytics Market size is expected to reach $448 billion by 2027, rising at a market growth of 13% CAGR during the forecast period.
The on-premise segment accounted for the largest market share in 2020 and would continue this trend over the forecast period. It is owing to the high data transfer speed and security capabilities offered by on-premise solutions.
On the basis of the analytics tool, the dashboard & data visualization tools segment is projected to witness a prominent share over the forecast period. It is owing to the high adoption of data visualization tools among various companies to generate the report from the varied and swiftly increasing volume of business.
The BFSI market dominated the Global Big Data and Business Analytics Market by Industry Vertical 2020, and would continue to be a dominant market till 2027. The IT & Telecom market is experiencing a CAGR of 11.8% during (2021 - 2027). Additionally, The Healthcare market is estimated to grow at a significant CAGR during the forecast period.
By region, North America emerged as the leading region in the big data and business analytics market in 2020 and would exhibit similar kind of trend over the forecast period. Factors such as the increasing demand for digital transformation among various end-users and the rise in the convergence of numerous technologies like artificial intelligence (AI) and big data & analytics are responsible for the growth of regional market.
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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 Analytics Tool
By Deployment Type
By Industry Vertical