Authored By: Sarah
02 Jul 2021

Big Data Services Market Size to Grow by $ 99.39 Billion through 2021-2025 | Forecast and Trend Analysis

Technavio has been monitoring the big data services market and it is expected to grow by $ 99.39 billion, accelerating at a CAGR of almost 34.52% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking


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Big Data Services Market: Emerging Trends to Impact Market Growth

Growth by the BFSI segment will be significant during the forecast period. In the BFSI sector, big data services are opted to make respective models of trading, fund management, and risk control. With the growth of big data in terms of volume, variety, and complexity, big data analysis is useful for banks to generate useful insights leading to improved performance. This report provides a detailed analysis of all the trends that are likely to influence the growth of individual segments within the market as well as the overall market in focus. This analysis will enable clients to assess their play in the market and plan for growth opportunities. North America has been exhibiting a significant growth rate for big data services market vendors. Factors such as the increase in data generation across various industries, such as retail, BFSI, healthcare, and public sectors are accelerating the big data services market growth in North America. 

Big Data Services Market: Vendor Analysis

The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Accenture Plc, Atos SE, Datameer Inc., Deloitte Touche Tohmatsu Ltd., HP Inc., International Business Machines Corp., Microsoft Corp., PricewaterhouseCoopers LLP, SAP SE, and Teradata Corp. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

Technavio custom reports provide market insights at the global and regional level along with a pipeline analysis of new product launches. It also provides a peek into the latest R&D along with an impact analysis of government regulations.

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The report provides insights into the following FAQs:

  1. What is the market CAGR?
    The market is accelerate at a CAGR of over 34.52%.

     
  2. What is the incremental growth of the market?
    The market is expected to grow by $ 99.39 bn through 2021-2025.

     
  3. What is a key factor driving this market?
    Growing amount of data will drive market growth over the forecast period.

     
  4. What are the key regions covered in this market research report?
    North America, Europe, APAC, South America, and MEA are the key regions featured in this research report.

     
  5. Which is the leading geographic region for this market:
    34% growth will originate from North America

     
  6. Who are the leading market vendors?
    The leading vendors in this market are Accenture Plc, Atos SE, Datameer Inc., Deloitte Touche Tohmatsu Ltd., HP Inc., International Business Machines Corp., Microsoft Corp., PricewaterhouseCoopers LLP, SAP SE, and Teradata Corp.

     
  7. What are the market segments covered in this report?
    The market is segmented by End-user (BFSI, Telecom, Retail, and Others) and Geography (North America, Europe, APAC, South America, and MEA)

Big Data Services Market Growth Analysis | Trends, Drivers and Vendor Forecasts for 2020-2024

Technavio has been monitoring the big data services market and it is expected to grow by USD 64.27 bn, accelerating at a CAGR of almost 30% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking View Free Sample Report

Big Data Services Market: Key Trends to impact market growth

Big data in blockchain technology is one of the key big data services market trends. The implementation of big data technologies with IT systems helps gain information and new insights from unstructured and structured data from numerous sources such as databases, streams, APIs, file systems and other platforms and applications. Moreover, these services also help organizations to gain insights and assist in the understanding of huge volume of complex data which reduces the time taken for research. Industries such as healthcare, manufacturing, media and entertainment, oil and gas, retail and transportation are increasingly adopting big data services.This research report provides a detailed impact analysis of all the trends that are likely to influence the growth of the market in focus.

Big Data Services Market: Top Drivers to Boost Demand

The growing amount of data is one of the primary factors driving the growth of the big data services market. The generation of large volumes of data due to the adoption of IoT has increased the need for necessary tools to process the large volume of data and generate actionable insights. Big data analytics help to analyse and also improve data collection of industrial equipment such as turbines and oil refineries. These analytics also help organizations make better business decisions and create new business models, products, and service offerings. Organizations are outsourcing their big data analytic projects which is leading to the growth of the big data serivces market. The report provides a detailed study of all the factors that are likely to boost the market. This analysis will enable clients to leverage growth opportunities to their advantage and set their business on the path to further growth.

Big Data Services Market Size to Grow by $ 99.39 Billion through 2021-2025 | Trend Analysis and Forecasts

Vendor Analysis: Accenture Plc, Atos SE and Datameer Inc. are key growth contributors

The market is fragmented. The research report provides insights into the top market player and their product portfolio along with a pipeline analysis of upcoming developments and growth opportunities. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Accenture Plc, Atos SE, Datameer Inc., Deloitte Touche Tohmatsu Ltd., HP Inc., International Business Machines Corp., Microsoft Corp., PricewaterhouseCoopers LLP, SAP SE, and Teradata Corp. are some of the major market participants.

For more insights on this market: Download a Free Sample Report

Big Data Services Market: Key Highlights of the Report for 2020-2024

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive big data services market growth during the next five years
  • Precise estimation of the big data services market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the big data services market industry across North America, Europe, APAC, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of big data services market vendors

 

 

 

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