Kenneth Research, in its repository of market research reports, has recently added a report on Big Data Market that emphasizes the latest trends, key opportunities, drivers, and challenges associated with the growth of the market during the forecast period, i.e., 2022 – 2031. The Big Data Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Big Data Market products.
Final Report will add the analysis of the impact of COVID-19 on this industry.
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The Payment Security Big Data Market is expected to grow with a significant CAGR during the forecast period, i.e. 2021-2025, on the back of growing internet penetration around the world along with the rising adoption of smartphone. The statistics by the GSMA Intelligence stated that the total unique mobile subscribers as on May 2020 around the world was 5.24 billion.
The Big Data Market in North America is anticipated to grow significantly owing to the presence of several key players in the region, along with the increasing need of the organizations in the nation to run on a strong ICT infrastructure.
The Big Data Market is majorly affected by the recently hit global pandemic, COVID-19, which has devastated several businesses worldwide. Although, the ICT industry has observed a significant rise in the utilization of cloud applications, yet several manufacturing organizations in the ICT industry are facing significant issues, especially in places where the ICT infrastructure is not that satisfactory.
Several key players that are operating in the Big Data Market are: KEY PLAYERS
1. Hewlett-Packard Enterprise
2. Amazon Web Services
3. IBM Corporation
4. SAP SE
5. SAS Institute
6. Dell, Inc.
7. Teradata Corporation
8. Oracle Corporation
9. Palantir Technologies, Inc.
10. Cloudera, Inc.
11. Hitachi, Ltd.
12. Guavus, Inc.
13. 1010data, Inc.
14. Microsoft Corporation
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