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Big Data And Analytics Market’s Major Support Is The Investments In Smart City Projects

Big Data And Analytics Market 2021 - Opportunities And Strategies – Forecast To 2030

Big Data And Analytics Market 2021 - Opportunities And Strategies – Global Forecast To 2030

The Business Research Company’s Big Data And Analytics Market 2021 - Opportunities And Strategies – Global Forecast To 2030

LONDON, GREATER LONDON, UK, October 27, 2021 / -- The big data and analytics market is expected to be aided by rapid growth in investments in smart city projects in many countries globally. Smart city technologies use information and communication technologies to efficiently manage and operate urban services including transportation systems, water supply and law and order. Big data has various applications including transport, public safety, city budgets, and more. Smart cities also use predictive big data analytics to identify which areas are prone to be hubs of crime and predict the exact crime locations. In 2021, European investment firm Eurazeo’s subsidiary, Idinvest Partners, has completed the first close of its Smart City Fund II. The fund plans to raise a total of EUR 200 million (US$ 243.5 million), and to date, has raised EUR 80 million (US$ 97.4 million). Up to 40% of the current fund will be allocated to startups in Southeast Asia and China. The concept of smart cities is becoming more popular in developing nations too. For instance, more than 1,000 smart city pilot projects are either ready for or are under construction globally and around 500 of these projects are in China. The development of smart cities is expected to act as a driver for the big data and analytics market in the forecast period.

Companies in the big data and analytics market should focus on offering big data as a service to clients in order to drive business growth for a viable advantage. BDaas refers to a class of platforms and managed toolsets which manage a vast amount of data that is being stored, analyzed, processed, and created in cloud-based systems. The service allows to pay-as-you-go and eradicates the need for building a data center, developing an analytics toolset stack, and investing in a team of trained data scientists, which is a costly and time-consuming project for any enterprise. Some of the prominent BDaaS services include Google Cloud Dataproc, Amazon Web Services, Microsoft Azure HDInsight, and others.

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The big data and analytics market size reached a value of nearly $73.29 billion in 2020, having increased at a compound annual growth rate (CAGR) of 10.2% since 2015. The market is expected to grow from $73.29 billion in 2020 to $135.71 billion in 2025 at a rate of 13.1%. The big data and analytics market is then expected to grow at a CAGR of 13.2% from 2025 and reach $252.36 billion in 2030.

Major players covered in the global big data and analytics industry are Microsoft, Oracle Corporation, SAP SE, IBM Corporation, Salesforce.

TBRC’s big data and analytics market report is segmented by analytics tools into dashboard & data visualization, self-service tools, data mining & warehousing, reporting, other analytics tools, by deployment mode into on-premise, cloud, by end use industry into BFSI, retail, manufacturing, IT and telecom, government, healthcare, utility, other end-use industries.

Big Data And Analytics Market 2021 - By Analytics Tools (Dashboard & Data Visualization, Self-Service Tools, Data Mining & Warehousing, Reporting), By Deployment Mode (On-Premise, Cloud), By End Use Industry (BFSI, Retail, Manufacturing, IT and Telecom, Government, Healthcare, Utility), By Application (Customer Analytics, Supply Chain Analytics, Marketing Analytics, Pricing Analytics, Spatial Analytics, Workforce Analytics, Risk & Credit Analytics, Transportation Analytics), And By Region, Opportunities And Strategies – Global Forecast To 2030 is one of a series of new reports from The Business Research Company that provides big data and analytics market overview, forecast big data and analytics market size and growth for the whole market, big data and analytics market segments, and geographies, big data and analytics market trends, big data and analytics market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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