Global Big Data and Data Engineering Services Market 2018 Research Strategies and Forecasts, to 2025
The global big data and data engineering services market is expected to grow from USD 32.45 Billion in 2017 to USD 123.89 Billion by 2025, at a CAGR of 18.2% during the forecast period from 2018-2025. The North America region is dominating the market because of the improved use of technology and increase use of big data and data engineering services in the region
Global Big Data and Data Engineering Services Market by Service Type (Data Modeling, Data Integration, Others), Business Function, Organization Size, Industry, Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2018 to 2025.
Prominent companies in the industry include Accenture, Genpact, Cognizant, Infosys, Capgemini, and among others. The market leaders are channelising their efforts towards the new opportunities and deveIoping new products and services to offer to the market, thereby, intending to capture the largest share of the market. In 2017, Oracle launched the first digital data offering for channel marketers, which empowered the indirect sellers, value-added resellers and distributors.
The service type is classified into data modeling, data integration, data quality and analytics. The data integration segment is growing at the highest CAGR 22.4% of in big data and data engineering services market. This growth is due to rising need for integrating data from dissimilar data sources across organizations. Business function is segregated into marketing and sales, finance, operations, human resources and legal. Marketing and sales segment is expected to dominate the market with the value of USD 6.13 Billion over the forecast period. Organization size is divided into large enterprises, small and medium-sized enterprises. Small and medium-sized enterprises is dominating the market with a share of 56.90% in 2017. The Industry is segmented into banking, financial services and insurance, healthcare and life sciences, retail and ecommerce, manufacturing, media and telecom, government and others. The banking, financial services and insurance segment is dominating the market and valued around USD 6.46 Billion because a large amount of data can be processed with the help of it, thereby, reducing the workload.
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Inclination towards tools like customer relation management, enterprise resource planning, E-commerce and supply chain is a major factor driving the market. Rising awareness to follow regulations and policies is paving the way for manufacturers to achieve new milestones. Increase in demand of deployment in small-/medium-scale businesses is fuelling the growth of market. Inefficiency of service providers to provide real-time insights may act as a restraint and might hamper the growth of market. Although, growing amount of data across Small and Medium-Sized Enterprises (SMEs) will boost the market in coming years.
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