Big Data Market To Reach USD 726.1 Billion By 2032 Report By DataHorizzon Research

Popularity of Big Data with AI integration to boost industry developments.

Fort Collins, Colorado, March 07, 2024 (GLOBE NEWSWIRE) — The Big Data Market was valued at USD 257.2 Billion in 2023 and is anticipated to grow CAGR at 12.2% to reach USD 726.1 Billion by 2032.

The big data market growth is significantly anticipated to witness healthy growth over the coming years due to the constant in data in quantitative and qualitative form. Additionally, with the growing technology penetration along with smartphones data generation has been mounting. The rise in the need to analyze the growing amount of data is expected to significantly increase the considerable big data market growth over the forecast period.

With the growing popularity and internet adoption and other benefits such as unlimited communication, abundant information and resources, easy sharing, and online services, have triggered the need for data analysis. In addition, the rising demand for mobile devices and apps will pave the way for big data over the next few years. The virtual online offices and the increasing popularity of social media applications produce enormous amounts of data, which is also expected to propel the big data market growth in the forecast period. In addition, the significance of big data and AI integration to solve business problems in the emerging economies of Asia Pacific, Latin America, and Middle Eastern regions, may further propel the growth of the big data market.

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Segmentation Overview:

The global big data market has been segmented into hardware, software, services, end-use, and region. It is segmented based on software such as analytics, databases, visualization, and distribution tools. Analytics hold a significant share of the software segment of the big data market. The data generated helps companies derive insights into changing customer preferences, demands, and needs, which helps them develop their products and services. However, the data is appropriate when it can be completely interpreted and analyzed correctly. 

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Big Data Market Report Highlights:

  • The global big data market growth is anticipated at a CAGR of 12.2% by 2032.
  • The market is driven by the need for big data solutions to solve complex business problems. In addition, high spending on data management accounts for the demand for big data solutions.
  • North America accounted for a significant market share in 2022. The United States held a prominent position and registered a huge market demand.
  • Some prominent players in the big data market report include Accenture Plc., Dell Technologies Inc., HP Inc., IBM Corporation, Oracle Corporation, Teradata Corporation, Splunk Inc., Cloudera Inc., MU Sigma, OPERA Solutions Inc., and others.

Industry Trends and Insights:

  • Microsoft fabric emerges as a robust facility with cloud solutions centering around data movement, storage, and integration. The concept is mainly for everyone including adiminstrators, data engineers, analysts, managers, and business leaders. Currently, it is only enabled for power BI.
  • Big data analytics emerges with a capability to integrate AI as machine learning becomes more integral to Big data analytics. Also, several organizations are harnessing the power of Big data and machine learning for predictive modeling, natural language processing, and anomaly detection. 

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Big Data Market Segmentation:

By Hardware: Storage, Server, Network Equipment

By Software: Analytics, Database, Visualization, Distribution Tools.

By Service: Consulting, Deployment & Maintenance, Training & Development

By End-use: BFSI, Manufacturing, Retail, Media & Entertainment, Healthcare, telecommunication, others.

By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa. 


About DataHorizzon Research:

DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.

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Ph: +1-970-672-0390

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CONTACT: Mail: sales@datahorizzonresearch.com Ph: +1-970-672-0390 Website: https://www.datahorizzonresearch.com 

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