Big Data Analytics Market - Forecast to 2023

Market Consolidation and Convergence in Product Offerings are Key Themes Driving Market Progression

This study on Big Data Analytics (BDA) classifies the market into 2 major categories: Data Discovery and Visualization (DDV) and Advanced Analytics (AA). The BDA market accounted for $8.5 billion in 2017, and is expected to grow at a Compound Annual Growth Rate (CAGR) of 29.7% to $40.6 billion by 2023.The market is 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.

Research Scope

• Detailed global market trend analyses, including market drivers, market restraints, technology trends, regional analysis, and competitive analysis
• Detailed revenue forecasts for the BDA market, including forecasts for the AA and DDV segments
• A competitive landscape of the major participants and their market share analysis
• A competitive analysis of major participants: SAS, IBM, Qlik, SAP, Microstrategy, FICO, TIBCO, and Tableau
• Geographical Segmentation: The global market has been segmented into North America, Latin America (NALA), Asia-Pacific (APAC), and Europe, the Middle East, and Africa (EMEA).

Research Highlights

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.

Research Benefits

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.

Key Issues Addressed

• Is the market growing? If so, how long will it continue to grow and at what rate?
• What are the regional trends in the BDA market, and what are the implications for the global growth strategies of vendors?
• Are the products/services offered today meeting customer needs, or is additional development needed?
• What are the critical success factors? Who is further along the curve in addressing these issues?
• What are the major drivers and restraints in the BDA market?
• Which vendors are leading the market and what do vendors need to know to stay ahead of the curve?
• What are the key trends and how will they impact the BDA market?
• Which market segment is growing faster AA or DDV?