Latest News- Big Data Market: On-premises is expected to lead the Deployment segment during 2025-2029

The Big Data Market is being driven by Surge in data generation

The Big Data Market is expected to grow at a CAGR of 13.3% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 193.2 billion. In today's business landscape, enterprises are increasingly exploring the use of blockchain technology to bolster cybersecurity and enhance data management. Blockchain's secure, decentralized ledger system transports data in encrypted blocks, linking each block to the previous one via cryptographic algorithms. This structure ensures data integrity and immutability. By integrating blockchain with big data solutions, enterprises can effectively track and store vast amounts of data generated from various sensors and sources. This combination enables real-time analysis and identification of production issues without disrupting operations. Notably, start-ups and major industries, including oil and gas, food and beverage, and others, are actively implementing blockchain technologies to streamline processes and enhance data security. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Deployment
  • On-premises
  • Cloud-based
  • Hybrid
• Type
  • Services
  • Software
• End-user
  • BFSI
  • Healthcare
  • Retail and e-commerce
  • IT and telecom
  • Others
• Geography
  • North America
    • Canada
    • US
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • Europe
    • Germany
    • UK
    • France
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Surge in data generation
• Growing investment in smart city initiatives
• Increasing use of data analytics in various sectors

However, the market also witnesses some limitations, which are as follows:

• Rise in data security issues
• System integration and interoperability issues
• Shortage of skilled professionals in IT domain

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Market Scope in Big Data Market Research Report

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Research Analysis Overview

In the realm of Big Data, various disciplines intertwine to unlock valuable insights. Data Science employs Machine Learning Algorithms and Deep Learning Frameworks, while Data Engineering ensures Data Architecture and Management. Data Analytics Tools and Visualization Software facilitate analysis, with Business Intelligence Dashboards presenting results. Predictive and Prescriptive Modeling provide future insights, and Real-Time Data Processing ensures immediacy. Data Governance, Privacy Policies, Compliance Audits, and Quality Metrics ensure data's integrity and accessibility. Data Agility, Storytelling, Literacy, and Culture surveys foster a Data-Driven Business Strategy, Product Development, and Marketing approach.

Market Research Overview

The Big Data Market, a segment of the global Technology Hardware, Storage, and Peripherals Market, is experiencing significant growth due to the increasing volume, velocity, veracity, and variety (4Vs) of data. This market encompasses manufacturers of data storage components, servers, and peripherals. Technavio's market analysis calculates the market size based on revenue generated from hardware sales. Key growth drivers include the expanding data center landscape and the necessity for advanced data management solutions to handle the escalating data requirements. Data ingestion, cleansing, transformation, enrichment, and warehousing are essential processes to ensure data accuracy and effectiveness.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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Website: www.technavio.com/