Global Big Data Market – Size, Outlook, Trends and Forecast (2024

Global Big Data Market - Size

Study Period

2018 - 2030

Base Year For Estimation

2023

Forecast Data Period

2024-2030

Historical Data Period

2018-2021

CAGR

7 %

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

Big data is both structured and unstructured data involved in machines or devices referred to as artificial intelligence or robotic technology. The term defines a gathering of the large volume of data helps in various organisations to initiate better decisions and ideas. We can obtain data from various sources that enables the time reduction, development of new products and smart decision making. Big data came into existence by involving three concepts: volume, variety, velocity defines the enormous data with proper format stored in devices helps users to gain whatever data is needed from the place we are extracting.

Global Big Data Market Size & Growth:

Big data market stood at $1.22 Billion during 2017, and regarding CAGR it is projected to the growth of 14.08% and will reach $XX billion by 2025. Increase in technology depends on digital& machines, users concerns to know the happening things across the globe within a short time, number of users are increasing day by day, smart devices with different apps, websites for various purposes like business, healthcare, entertainment, education etc. are some of the purposes driving the big data market.

The growth in the market is will arrive by rapid technological developments in information technology sector, increase in business operations, significant cloud services, requires vast investments from vendors, creating awareness in big data solutions, services for privacy and security for users in system providing by big data and requires feedback from data users will tend to create the advanced tools for data extraction.

Global Big Data Market Share:

Global significant data market segments are categorised into by type,

Global Big Data Market - Growth

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

by component, by application and by geography. By type, the market is slotted into structured, semi-structured and unstructured. Unstructured data holds 90% of big data where It, not predefined data but display the required data without delay because big data refers to a broad set of data that is difficult to analyse with traditional tools. In another side, structured data is predefined stored data that limits only simple organisational data and algorithms.

Regarding components, the market is segmented into software & services. The software holds the highest market share in big data solution from its segments like data storage, discovery of new data solution, visualisation. Moreover, this corporate world is highly accommodated with digital runs on the platform of software. Services are expected to grow during the global big data

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Global Big Data Market - Porter's Five Force Analysis

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

market forecast period by creating awareness involving the training & managing services.

By application, the market is classified into retail, manufacturing, healthcare, finance & others. Retail and healthcare sectors play a crucial role in the expansion of retail stores as well as diagnostic centres with advanced digital technology based on the cloud. Additionally, manufacturing is leading next of these sectors due to an increase of mobile and smart devices which is referred to as automation process. Banking through the digital system will follow the expansion of growth in forecast period with an increase of apps for online banking comes under the finance sector.

Concerning geography, the market is sorted into North America, South America, Europe, APAC, and Middle East & Africa. North America holds the most significant share in

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