Global Big Data Analytics Market: data discovery and visualization (DDV) and advanced analytics (AA)

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The most thrilling news within this industry is the fact that, progressively:

  •  Companies across several industry verticals realize that they need to harness the power of data coming from a variety of sources to survive,

  • Business leaders find it imperative to collect and analyze large volumes of data in a much more tactical way to drive efficiencies and optimize resources,

In addition, beyond a set of bottlenecks and challenges related to and in terms of integrating BDA into existing legacy infrastructure workflows and the lack of best practices to solve industry-specific business problems, it is now obvious that, self-service and automated analytics tools address the problem of skills shortage and increase demand. 

For those who are unfamiliar, DigitalEcono recalls that the global Big Data analytics market can be segmented in 2 end-user segments: data discovery and visualization (DDV) and advanced analytics (AA). 

Both categories are attracting investors across the world and organizations come out of their experimental phase and start deploying predictive models in production environments for real-world use cases.

Hadoop stimulates this transformation; also Open source technology including Apache Spark providing inter alia distributed, in-memory data processing abilities.

According to Research and Markets Overall, the market is projected to reach $ billion in 2022.

The cost barrier around deploying an analytics solution continues to prevail. However, the high demand for BDA keeps the entry barriers low.

SAS, IBM, and Palantir Technologies are maintaining their market leadership by establishing a strong foothold in high-growth verticals, including banking and financial services (BFS), government and intelligence (G&I), retail, and healthcare.