Global Big Data Analytics Market Professional Survey Report 2020, Key Companies Profile, Supply, Demand, Manufacturing Process and Cost Structure Analysis

 The Infinium Global Research analyzes the Big Data Analytics Market over the period of 2020 to 2026. This report also provides detailed qualitative and quantitative analyses of the market dynamics, market size and future trends in global big data analytics market. It will help a lot of decision makers to develop strategies and find new opportunities in the global markets of big data analytics. The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the big data analytics market during the period.

"We are Now Including the Impact Analysis of the COVID-19 on this Premium Report and the Forecast Period of this Report shall be Revised to 2020-2026." 

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Rapidly Growing Volume of Complex Data is A Key Driver for the Growth of the Global Big Data Analytics Market

The advances in new technologies, devices, and communication are leading to rapid year-on-year growth in the amount of data produced. Big data analytics use numerous data mining solutions such as text mining and predictive modeling. Big data analytics utilize some advanced statistical and mathematical models including data mining, artificial intelligence, and predictive analysis. These mathematical models are used to gain innovative insights, which help in making faster, data-driven decisions. With the help of big data analytics, the industry players are expected to move towards invention, growth, and productivity. The rapidly growing volume of complex data is a key driver for the growth of the global big data analytics market. Sources such as web sites, social media, desktop, and mobile apps, sensors, and other devices are generating large amount of data, which requires big data solutions to store and analyze.

Moreover, the rise in adoption of visualization-based data discovery solutions among consumers is expected to augment the growth of the global big data analytics market. Usage and application of the visualization-based data discovery services is projected to experience a major shift, creating a better environment empowered by Artificial Intelligence, thus driving the market for big data analytics.

The short-term impact of COVID 19 is expected to cause an upsurge in the annual growth rate of the big data analytics service providers in total. As of November 2020, more than 50 million cases were registered across the world. The sudden rise in the number of COVID-19 cases resulted in an upsurge of health data of these patients. A large amount of health data of patients was generated every day. This data required big data solutions to store and analyze it effectively and to derive meaningful data. Moreover, several organizations in the industries such as healthcare, pharmaceutical, biotechnology and government used big data solutions to leverage the health data to tackle the pandemic crisis.

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The Ability to Access Data Remotely and Efficiently is Augmenting the Demand for Cloud Deployment Segment in the Market

In terms of deployment, cloud segment generated the highest revenue for the global big data analytics market, in 2019. Cloud-based big data solutions are an ideal for numerous end-users. They can use the third-party infrastructure instead of a massive data center to gain access to compute. Cloud provider’s offer several plug-and-play big data cloud services and access to adequate compute power and pre-trained models to launch big data applications. Cloud service providers assist users with setup and troubleshooting by offering useful resources such as development tools, and technical support for developers. These advantages make cloud based solutions more suitable for small and medium scale enterprises.

The Big Data Analytics Market is Anticipated to Witness Several Acquisitions and Product Launches Over the Forecast Period

The big data analytics market is consolidated and highly competitive in nature. The market is characterized by the presence of large scale international players, controlling a big share in the market. The major players in the big data analytics market are engaging in different business strategies to consolidate their market position. Several market players are investing in developing innovative solutions to cater certain target consumers. For instance, in July 2020, Google launched a multi-cloud analytics solution called BigQuery Omni. This solution is expected to cater a consumer group that uses more than one cloud service.

Similarly, in June 2020 Hewlett Packard Enterprise launched a new brand and software portfolio, HPE Ezmeral. HPE Ezmeral portfolio includes container orchestration and management, AI/ML and data analytics, cost control, IT automation and AI-driven operations, and security. On the other hand, many market players are involved in strategic acquisitions to expand their business. For instance, in September 2019, Cloudera acquired a cloud-native AI-powered business intelligence and real-time analytics provider, Arcadia Data. Cloudera and Arcadia Data together are expected to accelerate time-to-insight for Cloudera customers, and drive the future of the enterprise data cloud for businesses.

Infinium Global Research’s recent report on the global big data analytics market is an encompassment of such recent developments in the global marketplace. The report delivers insights into the leading players that have contributed greatly to the growth of the market and also estimates the impact of product innovations, similar to that of the aforementioned product on the global market.

North America Region to Generate the Largest Revenue in the Big Data Analytics Market

Geographically, North America generated the largest revenue in the global big data analytics market. The government, telecommunication and IT industries in the U.S. are expected to majorly contribute to the market growth in North America. Countries in North America including Canada & the USA have higher penetration of smartphones among their population. This increase in the usage of smartphone, and the big data analytics market is set to increase in the years to come. Moreover, consistent growth in the retail market, growing adoption of analytical business intelligence and information technology, and the growing focus on the needs of customers and their satisfaction are some of the factors that have fueled the growth of the market. Additionally, the Asia-Pacific region is estimated to grow at the fastest rate in the global big data analytics market. Asia-Pacific big data analytics market is largely driven by technological advancements and internet penetration rate in developing economies, such as China and India.

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