Big Data Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

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Big Data Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

Status : December, 2021 | Technology & Media

Report Digest


The growing adoption of cloud computing has resulted in the generation of humongous amounts of data, which in turn is driving the growth of the global big data market. The growing technological advancements and increasing connectivity will help the growth of the market. Smartphone penetration across the globe is also a factor improving connectivity and in turn driving the need for big data. The data explosion on account of the high amounts of data generated is creating a heightened demand for big data.

However, the lack of skilled manpower such as data analysts and data scientists will be a challenging factor for the growth of this market. Data analysts and scientists are necessary for successfully leveraging big data capabilities and their shortage will hamper the growth of the big data market. There is a huge demand for professionals who are capable of exploiting big data analytics so as to be able to make smart and valuable decisions.

In the years to come, the media and entertainment segment will acquire a significant share of the market. The gaming sector will also contribute to the revenue of this market.  Companies operating in the global ig data market are increasingly investing in research and development activities, in the hope of developing unified big data solutions that can provide improved capabilities. Players in the market are relying on innovation driven solution for the growth in productivity and reduction in cost so that new customers can also benefit from big data.  

Global Big Data Market: Overview

On a daily basis, a business requires a large volume of structured and unstructured data to run the show. Big data can be studied for insights that can aid in better decision making and short- and long-term strategic planning.  

For online vendors, big data is a valuable commodity as it discloses crucial consumer behavior and provides insights into how a company’s product catalog can be enhanced to capitalize on the given demand. Demographic or regional breakdown of the available data can also tell a company which regions and which population groups to target. 

Global Big Data Market: Key Trends

The key driver for the growth of the global big data market is the enormous amount of data being used and generated across all industry verticals. As the demand for smartphones and other devices is rising, there is an increase in the data being stored in them in the form of numbers, texts, graphs, images, videos, audios, and other multi-media formats, thus supplementing the growth of the big data market. Also, numerous companies worldwide are employing big data technologies to gain a competitive advantage over others in the long run. 

Big data solutions allow organizations to efficiently manage large data volumes, thus reducing cost. Moreover, these solutions facilitate companies to overcome frauds, reduce errors, and streamline critical business processes. However, the absence of skilled manpower including data scientists and data analysts required to leverage big data capabilities is expected to abstain the market from developing further. 

Global Big Data Market: Market Potential

In a recent development, China launched its first national engineering laboratory for big data exchange and distribution technologies. This move will drive the country’s digital economy and assist in competing in the global market. It is also expected to aid the government in regulating distribution and exchange processes. The lab was approved by China’s top economic planner, the National Development and Reform Commission, in February 2017. There are about 13 research centers set up to conduct related research and each center would be led by different institutions, universities, and enterprises. 

South Korea has introduced a big data system, which is giving a freeway to scientists around the globe to share their data and findings with the help of ultra-fast Internet connections. The Korea Institute of Science and Technology Information (KISTI) has joined Pacific Research Platform (PRP), an open platform science project, as a global partner. In collaboration with other academic institutions abroad, KISTI expects to make optimum use of ultra-high speed networks and help Korean scientists make advances in their research and generate more interest in the fields of particle physics, astrophysics, biomedical sciences, earth science, and virtual reality.  

Global Big Data Market: Regional Outlook

The growing Internet penetration and expanding smartphone user base have driven the market in North America. This region is likely to grow during the forecast period owing to increasing trend of digitalization in several end-use industries such as medical, retail, banking, financial services and insurance (BFSI), healthcare, and media and entertainment. 

Asia Pacific is another lucrative market for big data and is expected to progress in the coming years. The big data adoption will increase due to improving economic conditions and will thereby augment the number of businesses. Japan, India, and China are emerging countries in Asia Pacific that will offer opportunities for market players over the said period. 

Global Big Data Market: Competitive Analysis

Calpont Corporation, Mu Sigma, Cloudera, IBM, Opera Solutions, Oracle Corporation, Teradata Corporation, Hewlett-Packard Co. (HP), and Splunk Inc. are few of the established players operating in the global big data market. Palantir, Hitachi, Mongo DB, and Gooddata are other key innovators offering comparatively narrower, yet locally-effective distribution and solutions networks in the big data market ecosystem. During the forecast period, the market is likely to be highly competitive with the inclusion of more number of participants.

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5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?