Europe Big Data Market

Europe Big Data Market Size (2024 to 2029)

The big data market in Europe is predicted to grow at a CAGR of 25.7% from 2024 to 2029 and the European market size is expected to grow from USD 125.36 billion by 2029 from USD 39.95 billion in 2024.

Big data generally includes large sets of information that go beyond the capabilities of commonly used software tools to collect, manage, and process within the elapsed time. Big data consists of a wide variety of large-scale information assets that require unique forms of information processing for better understanding and decision-making. It is a development term that defines a large amount of structured, unstructured, and semi-structured data with the potential for information extraction. Big data does not mean a precise amount, but it is commonly used when it comes to large amounts of data.

The European big data market is driven primarily by the growth of consumer and machine data markets. As the adoption of cloud computing has increased the popularity of the Internet, rapid technological advances and improved connectivity have generated a significant amount of data. The proliferation of details and the volume of information captured by companies, multimedia, social networks, and the Internet of Things is expected to accelerate the growth of the big data market soon. 

Some of the other factors that drive the growth of the big data market in Europe are the need for new applications and integration platforms that take advantage of this technology. As the adoption of cloud computing has increased, the proliferation of smartphones has created a great deal of data due to rapid technological advances and improved connectivity. Therefore, it is estimated that the big data industry is in high demand to keep up with this data explosion.

However, the shortage of qualified personnel, including data analysts and data scientists, needed to take advantage of big data capabilities is likely to reduce demand. There are high requirements for professionals who can use big data analysis to make valuable decisions.

This research report on Europe's big data market has been segmented and sub-segmented into the following categories.

Europe Big Data Market – By Type:

• Hardware
• Software
• Services

The software segment is expected to grow at the highest CAGR in the European big data market during the forecast period.

Europe Big Data Market – By Service:

• Hadoop-as-a-service (HAAS)
• Data as a service
• Analytics and Visualization As A Service

Europe Big Data Market – By Service:

• Manufacturing
• Web
• Healthcare
• Medicine
• Telecommunications
• Oil & Gas
• Transportation
• Logistics and Distribution
• Public and Government Facilities
• Media and Entertainment
• BFSI
• Others

Europe Big Data Market – By Country:

• UK
• France
• Spain
• Germany
• Italy
• Russia
• Sweden
• Denmark
• Switzerland
• Netherlands
• Turkey
• Czech Republic
• Rest of Europe

Europe is expected to witness significant growth during the forecast period as the administrative and government sectors are increasingly focusing on improving operational efficiency as the use of big data increases. Germany's big data market is likely to have the highest annual growth rate in Europe. In Germany, big data is critically involved in the base of Industry 4.0.

KEY MARKET PLAYERS:

Some of the key market players in the market include International Business Machines Corp., Accenture, Cisco Systems Inc., Dell, Cloudera Inc., EMC Corporation, Oracle Corp, Amazon Web Services Inc., HP, Hitachi Data Systems Corporation and Microsoft. Cisco Systems Inc. offers software and hardware IT solutions and expects to gain a competitive advantage in this rising market to create sophisticated analytical solutions and data management platforms for businesses.

RECENT HAPPENINGS IN THE MARKET:

• Netflix uses big data analytics to identify viewer patterns and suggest recommendations according to consumer choice. Past search and watch data are analyzed to provide users with appropriate insights.
• Cloudera recently introduced its new Enterprise 4.0 Big Data Management platform in the market, which includes a new set of tools for deploying and controlling Hadoop systems, enhanced automation of complex clusters, and simple integration with a variety of management tools and information sources.
• Datameer is about to introduce Datameer 2.0, a Big Data analytics software that comprehends data integration, analytics, and visualization into one package with a spreadsheet-type interface.
• Lucid Imagination developed LucidWorks Big Data, an open-source software development system in the cloud for prototyping Big Data applications, which helps enterprises in analyzing loads of unstructured data.