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Growing trend of edge computing to boost demand for analytics tools creating lucrative opportunities for big data analytics market between 2021 and 2028
NEW YORK, United States, Nov. 11, 2022 /EINPresswire.com/ — “Global Big Data Analytics Market Size, Share, Growth Trends, Industry Demand and Forecasts to 2028 – Impact of COVID-19 and Global Analysis – Components Another, analytics tools, applications, and end-use industries”, offered by Insight Partners, is a niche market to reach $638.66 billion by 2028, growing 15.3% during the 2022-2028 forecast period. We expect it to grow at a CAGR. , New Market Entry, Industry Forecast, Target Market Analysis, Future Direction, Opportunity Identification, Strategy Analysis, Innovation Insights. The Big Data Analytics Market report also sheds light on key aspects of competitive analysis: company market share analysis and key company profiles.
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The adoption of Internet of Things (IoT), artificial intelligence (AI), and machine learning (ML) algorithms is increasing the number of linked IoT devices. Edge computing is gaining popularity with the growing demand for connected devices. Edge computing refers to frameworks in which processors are located closer to the data source or destination than in the cloud. Data stored close to the source or destination saves time and reduces server and network strain when uploading to the cloud or on-premises. Edge computing is ideal for industrial IoT as it enables real-time data processing and fast reaction times. Telefónica Tech, Telefónica’s digital business holding company, and Microsoft collaborated on Azure Private Edge Zone in May 2021.
The integration will combine Telefónica’s private 5G connectivity with Microsoft’s edge computing capabilities at the customer’s premises. The common goal of both companies for Industry 4.0 and digital transformation is to install industrial 5G communication and computing solutions on-premises through an integrated architecture.
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IBM and Red Hat Software announced new edge computing solutions in May 2020. At the Think Digital conference, IBM unveiled new services and solutions backed by a large ecosystem of partners. 5G technology. This collaboration will combine IBM’s multi-cloud knowledge and expertise with Red Hat’s industry-leading open source technology acquired through IBM 2021, one of the most significant technology acquisitions in history. As a result, the ongoing trend towards edge computing to increase the volume of databases is expected to drive future market opportunities for the growth of the big data analytics market.
Browse Detailed TOC for “Big Data Analytics Market”
115- Market data table
97- Number of charts and figures
249 pages
List of Key Players in Big Data Analytics Market:
Amazon Web Services (US)
FICO (United States)
Hewlett Packard Enterprise Development LP (HPE) (US)
IBM Corporation (USA)
Microsoft Corporation (USA)
Oracle Corporation (USA)
SAPSE (Germany)
SAS Institute Inc. (USA)
TIBCO Software Inc. (USA)
Teradata (US)
….
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Based on component, the big data analytics market is divided into software and services. In 2021, the software segment will lead the big data analytics market and capture a larger market share. Based on analysis type, the big data analytics market is segmented into dashboards and data visualization, data mining and warehousing, self-service tools, reporting, and others. In 2021, the dashboard and data visualization segment led the big data analytics market and accounted for the largest share of the market. It is divided into analysis, price analysis, workforce analysis, etc. In 2021, the customer analytics segment led the big data analytics market, accounting for the largest share of the market. Based on end-use industry, the big data analytics market is segmented into pharmaceuticals, semiconductors, battery manufacturing, electronics, and others.
The Other segment led the big data analytics market and accounted for the largest share of the market in 2021. Geographically, the big data analytics market includes North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and South America (SAM).
In 2021, North America will hold a large share of the big data analytics market.
Industry segmentation:
By Component (Software and Services)
By analytics tools (dashboards and data visualization, data mining and warehousing, self-service tools, reporting, and others)
By Application (Customer Analytics, Supply Chain Analytics, Marketing Analytics, Pricing Analytics, Workforce Analytics, Others)
By End Use Industry (Pharmaceutical, Semiconductor, Battery Manufacturing, Electronics, Others)
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Impact of COVID-19 Pandemic on European Big Data Analytics Market
In 2020, the impact of the COVID-19 outbreak varied across Europe, with some countries experiencing an increase in the number of COVID-19 cases, followed by the imposition of strict and lengthy lockdown periods and social isolation standards. . However, the impact of the pandemic on Western European countries such as Germany, France and the United Kingdom has been relatively modest due to robust health systems. We have invested heavily in integrating technology into the healthcare system to identify symptoms and protect the public from SARS-CoV-2 infection. In 2021, business resumed after the lifting of lockdown restrictions due to the vaccination process.
The growth of the European big data analytics market has been remarkable in recent years. However, the automotive sector experienced a sharp decline in his 2020 due to the outbreak of the COVID-19 pandemic. Another factor that hindered the market growth was the implementation of lockdowns in many European countries and travel restrictions imposed by governments to prevent the spread of the virus. Following recovery from the impact of he COVID-19 pandemic in 2021, growth of big data analytics market is expected in the coming years. Various companies across Europe are introducing a work-from-home culture for their employees, resulting in a demand for cloud-based big data analytics to manage critical information, creating lucrative market potential. increase.
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The big data analytics market is projected to reach over $638 billion by 2028 from $239.75 billion in 2021. From 2022 he is expected to grow at his CAGR of 15.3% through 2028.
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