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The Big Data Analytics market (BDA market) is classified into 2 major categories: Data Discovery and Visualization (DDV) and Advanced Analytics (AA). The Big data analytics market size accounted for $8.5 billion in 2017, and the big data analytics market growth is forecasted to grow at a Compound Annual Growth Rate (CAGR) of 29.7% to $40.6 billion by 2023.The market trends are driven by organizations realizing the operational advantages of BDA, improved DDV empowering organizations to better target consumers, increased access to cloud-based models, enterprise-grade security and data governance solutions offered by market vendors, and continued vendor consolidation.
Geographical Segmentation: The big data analytics market has been segmented into North America, Latin America (NALA), Asia-Pacific (APAC), and Europe, the Middle East, and Africa (EMEA).
The base year of the study is 2017, with forecasts till 2023. The research highlights key trends impacting the BDA market and outlines future implications. These trends include Internet of Things (IoT) adoption and proliferation of data, Big Data fueling Machine Learning (ML) and Artificial Intelligence (AI) growth and data strategy becoming central to C-level business planning.
Readers who will benefit from this research include advanced analytics vendors, data discovery and visualization vendors, organizations looking to better understand the BDA, vendors across banking, government, retail, telecommunication, health and life sciences, and any company looking to venture into the market.
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