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COVID-19 Impact & Recovery Analysis- Big Data Market 2020-2024 | Rise in the Number of Smart Cities to Boost Growth | Technavio

·6 min read

The global big data market size is poised to grow by USD 142.5 billion during 2020-2024, progressing at a CAGR of over 13% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201117005044/en/

Technavio has announced its latest market research report titled Global Big Data Market 2020-2024 (Graphic: Business Wire)

Factors such as the adoption of smart grid technologies, the use of IT to improve traffic, the number of Wi-Fi-enabled points, mobile application landscape, and video surveillance are considered to recognize a city as a smart city. Therefore, global companies such as IBM, Microsoft, Cisco Systems, and Schneider Electric are supporting the development of smart cities by announcing initiatives and developing IT solutions. Moreover, big data analytics bring data pre-processing and decision-making capabilities closer to the data source and subsequently reduces data deluge and delays in communication. Additionally, the adoption of big data helps in processing data collected through connected IoT devices and analyzes and recognizes patterns to reshape the various areas of development. Therefore, a rise in the number of smart cities has increased the adoption of big data analytics, which will significantly drive the growth of the big data market during the forecast period.

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Report Highlights:

  • The major big data market growth came from services segment. The demand for big data services is growing due to the rising demand from enterprises. They are implementing big data software solutions and modernizing infrastructure to gain a competitive edge in the market. Additionally, vendors are also offering big data services to help enterprises manage their operations efficiently.

  • North America had the largest big data market share in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The digital transformation initiatives undertaken by enterprises and the rising need for enterprises to reduce operational expenses will significantly influence big data market growth in this region.

  • The global big data market is fragmented. Alphabet Inc., Amazon.com Inc., Dell Technologies Inc., Hewlett Packard Enterprise Co., International Business Machines Corp., Microsoft Corp., Oracle Corp., SAP SE, SAS Institute Inc., and Splunk Inc. are some of the major market participants. To help clients improve their market position, this big data market forecast report provides a detailed analysis of the market leaders.

  • As the business impact of COVID-19 spreads, the Global big data market 2020-2024 is expected to have Neutral and At par growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.

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Combination of Blockchain with Big Data will be a Key Market Trend

The combination of blockchain with big data is one of the critical big data market trends as it helps enterprises track and store the information and data generated from various sensors. Using the combination of blockchain and big data, enterprises can identify the reasons for failure in production, without interrupting the operations. Vendors are, therefore, partnering with the end-users to integrate big data analytics into their production process. Abu Dhabi National Oil Company (ADNOC) announced that it has partnered with IBM to work on piloting a blockchain-based automated system across the full value chain. The use of blockchain helps to enhance the business value derived from big data implementations. These factors will positively impact the market growth.

Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report

Big Data Market 2020-2024: Key Highlights

  • CAGR of the market during the forecast period 2020-2024

  • Detailed information on factors that will assist big data market growth during the next five years

  • Estimation of the big data market size and its contribution to the parent market

  • Predictions on upcoming trends and changes in consumer behavior

  • The growth of the big data market

  • Analysis of the market’s competitive landscape and detailed information on vendors

  • Comprehensive details of factors that will challenge the growth of big data market vendors

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View market snapshot before purchasing

PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

  • 2.1 Preface

  • 2.2 Currency conversion rates for US$

PART 03: MARKET LANDSCAPE

  • Market ecosystem

  • Market characteristics

  • Value chain analysis

  • Market segmentation analysis

PART 04: MARKET SIZING

  • Market definition

  • Market sizing 2019

  • Market outlook

  • Market size and forecast 2019-2024

PART 05: FIVE FORCES ANALYSIS

  • Bargaining power of buyers

  • Bargaining power of suppliers

  • Threat of new entrants

  • Threat of substitutes

  • Threat of rivalry

  • Market condition

PART 06: MARKET SEGMENTATION BY DEPLOYMENT

  • Market segmentation by deployment

  • Comparison by deployment

  • On-premise - Market size and forecast 2019-2024

  • Cloud-based - Market size and forecast 2019-2024

  • Hybrid - Market size and forecast 2019-2024

  • Market opportunity by deployment

PART 07: CUSTOMER LANDSCAPE

PART 08: MARKET SEGMENTATION BY TYPE

  • Market segmentation by type

  • Comparison by type

  • Services - Market size and forecast 2019-2024

  • Software - Market size and forecast 2019-2024

  • Market opportunity by type

PART 09: GEOGRAPHIC LANDSCAPE

  • Geographic segmentation

  • Geographic comparison

  • North America - Market size and forecast 2019-2024

  • Europe - Market size and forecast 2019-2024

  • APAC - Market size and forecast 2019-2024

  • MEA - Market size and forecast 2019-2024

  • South America - Market size and forecast 2019-2024

  • Key leading countries

  • Market opportunity

PART 10: DECISION FRAMEWORK

PART 11: DRIVERS AND CHALLENGES

  • Market drivers

  • Market challenges

PART 12: MARKET TRENDS

  • Adoption of blockchain solutions through big data implementation

  • Rise in strategic partnerships and acquisitions

  • Implementation of advanced technologies in big data analytics

PART 13: VENDOR LANDSCAPE

  • Overview

  • Landscape disruption

  • Competitive scenario

PART 14: VENDOR ANALYSIS

  • Vendors covered

  • Vendor classification

  • Market positioning of vendors

  • Alphabet Inc.

  • Amazon.com Inc.

  • Dell Technologies Inc.

  • Hewlett Packard Enterprise Co.

  • International Business Machines Corp.

  • Microsoft Corp.

  • Oracle Corp.

  • SAP SE

  • SAS Institute Inc.

  • Splunk Inc.

PART 15: APPENDIX

  • Research methodology

  • List of abbreviations

  • Definition of market positioning of vendors

PART 16: EXPLORE TECHNAVIO

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201117005044/en/

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