The Asia Pacific Big Data Market would witness market growth of 12.8% CAGR during the forecast period (2021-2027).
For continuous experimentation and executing production jobs, big data processes and users require access to a diverse set of resources. All data worlds, including transactions, master data, reference data, and summary data, are included in a big data solution. On-demand analytical sandboxes should be established. To ensure control of the entire data flow, including pre-and post-processing, integration, in-database summarization, and analytical modeling, resource management is crucial. Supporting these evolving requirements requires a well-thought-out private and public cloud provisioning and security strategy.
The massive volume of data produced by the multiplicity of connected devices is allowing businesses to collect data of all kinds. However, extracting actionable insights from such vast amounts of data, which is frequently divergent, is a tremendous challenge for businesses. Big data and big data analytics, including machine learning and artificial intelligence, as well as predictive analytics, provide the tools that allow businesses to derive meaningful and actionable insights from their data. As a result, big data and big data analytics can be thought of as digital transformation facilitators. Organizations can use big data solutions to collect massive amounts of data, organize and store it, and analyze it in real-time. Data virtualization and cloud computing have made data storage more cost-effective, alleviating one of the primary bottlenecks in previous technologies.
Although big data has only been around for a few years, it is already being used in China in exciting new ways. Baidu, for example, is utilizing big data to analyze and forecast disease patterns, which might assist hospital management in developing vaccines and staffing schedules. Tencent, the Chinese internet firm behind WeChat, China's most popular mobile chat network, is utilizing social data to identify trendsetters within groups of friends and focus marketing efforts on them. Alibaba, China's largest e-commerce company, is analyzing financial data from its Taobao and Alipay programs to determine whether small businesses are eligible for financing.
China is among the most dynamic markets for new technology in the world, and big data is no exception. China has a 1.3 billion strong population with rapidly increasing disposable incomes and high rates of mobile internet adoption. More than half of the total population has access to smartphones and the internet.
The China market dominated the Asia Pacific Big Data Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $25,019.3 million by 2027. The Japan market is poised to grow at a CAGR of 12.1% during (2021 - 2027). Additionally, The India market would experience a CAGR of 13.4% during (2021 - 2027).
Based on Component, the market is segmented into Solution (Data Discovery, Big Data Analytics, Data Visualization, and Data Management) and Services. Based on Business Function, the market is segmented into Marketing & Sales, Finance, Human Resources, Operations, and Others. Based on Deployment Type, the market is segmented into On-premise and Cloud (Public, Private, and Hybrid). Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises (SMEs). Based on Vertical, the market is segmented into BFSI, Retail & Consumer Goods, Telecom & IT, Government & Defense, Healthcare & Life Sciences, Manufacturing, Media & Entertainment, Transportation & Logistics, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Big Data Market is Projected to reach USD 300.7 Billion by 2027, at a CAGR of 10.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Google LLC, Oracle Corporation, Microsoft Corporation, SAS Institute, Inc., SAP SE, Alteryx, Inc., Teradata Corporation, Salesforce.com, Inc., and TIBCO Software, Inc.
By Component
By Business Function
By Deployment Mode
By Organization Size
By Vertical
By Country
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