Global Big Data Market to Grow at a CAGR of 14.9% During 2024-2032, Aided by the Rise of the Internet of Things and Cloud Computing

As the volume of data generated by various devices continues to soar exponentially, the need to extract value from this data has become paramount, contributing to the big data market growth. The advent of cloud computing has revolutionised data storage, offering cost-effective, flexible, and secure solutions. This has spurred the demand for big data systems for real-time analysis of data to gain valuable insights or identify risk factors.

Furthermore, the rise of the Internet of Things (IoT) has further accelerated the market growth. Effectively managing vast data volumes and deriving actionable insights has become a driving force for businesses. Companies like Facebook, investing significantly in research and development, contribute to the burgeoning demand for big data solutions. Notably, emerging economies like China are expected to witness rapid growth in the big data market in the coming years.

Fig: IoT Connected Devices, Billion Units, Year: 2018-2029

North America currently dominates the market for big data, supported by the presence of robust IT infrastructure. In North America, there is a widespread adoption of IoT and related services across various industrial sectors, leading to substantial data generation. This trend can also be observed in developing regions, where companies are increasingly leveraging big data to gain valuable insights and make informed business decisions to stay competitive. Within the Asia Pacific region, China is expected to exhibit the fastest growth, followed closely by countries like Australia, India, and South Korea, contributing to the overall market expansion over the forecast period.

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Market Breakup by Component, Hardware, Deployment Mode, Organisation Size, Application, End-Use, and Region:

• The market is divided based on component into solution and services.

• By hardware, the market is segmented into storage, network equipment, and server, among others. 

• The market is categorised based on deployment mode into on-premises, cloud, and hybrid.

• The market is divided based on organisation size into large enterprises, and small and medium enterprises.

• The market is segregated based on application into customer analytics, operational analytics, fraud detection, compliance, and data warehouse optimisation, among others.

• The market is segmented on the basis of end use into manufacturing, retail, media and entertainment, healthcare, IT and telecommunication, government, gaming, energy and power, and engineering and construction, among others.

• Region-wise, the global market for big data can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• Increasing internet penetration and rapid investments towards the development of IT infrastructure across countries are some of the major factors supporting the market growth.

• The rise of the Internet of Things (IoT) has accelerated the market growth by generating vast amounts of data. IoT-connected devices, spanning various industries, contribute to the expansion of the by providing rich sources of information for analysis and insights generation.

• The advent of cloud computing has revolutionised data storage, offering cost-effective, flexible, and secure solutions, further accelerating the need for big data storage and management.

Key Offerings of the Report:

• The EMR report gives an overview of the global big data market for the periods (2018-2023) and (2024-2032).

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the component, hardware, deployment mode, organisation size, application, end-use, and major regions of big data.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global big data market are IBM Corporation, Oracle Corporation, Microsoft Corporation, Accenture Plc, Amazon Web Services, Inc, Google LLC, Dell Technologies, Inc, VMware, Inc, Hewlett Packard Enterprise Development LP, Teradata Corporation, SAP SE, and ScienceSoft, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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