North America Big Data Market Size

North America Big Data Market Size & Growth (2023 - 2028)

The North America Big Data market is expected to grow from $ xx billion in 2022 to $ xx billion in 2028, with a compound annual rate of 14.65% in 2023-2028. 

Big data generally includes large sets of information that cannot be processed by commonly used software tools, to collect, manage and process data within the elapsed time. Big data is 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.

Recent Developments and Trends

Google Cloud spent $ 2.6 billion on Looker purchases, and Salesforce saved $ 15.7 billion on Tableau. Both companies specialize in enterprise-scale data modeling that automates data analysis with interactive reports and visualizations.

Netflix uses big data analytics to identify the viewer pattern and suggest recommendations according to consumer choice. Past search and watch data are analyzed to provide the user 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, enhance 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.

Market Drivers 

The amount of information collected by organizations has grown tremendously in recent years, and the trend continues. 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. The growing consumer demand, combined with contractual budgets, is affected by the increase in data, which pushes enterprises to make the right decisions to gain a competitive advantage. 

North America's big data market is driven primarily by the growth of consumer and machine data markets. 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 in the near future. Some of the other drivers that stimulate the growth of the big data market are the need for new applications and integration platforms that take advantage of this technology.

Restraints

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

Market Segmentation

The North American big data market is segmented by type, service and end-user.

By Type, North America big data market can be broken down into software, hardware and services. The software segments can be divided into search and visualization tools, databases, Hadoop implementation tools and products, system software and more. The hardware segments can be divided into storage, servers and network equipment. The services can also be classified as consulting services, integration and deployment services, training and outsourcing services. Of these, the software segment is predicted to expand with the highest CAGR in the forecast period.

Based on Big Data services, the North American market can be classified as Hadoop-as-a-service (HAAS), data as a service, analysis and visualization as a service. 

By End-users, the North America big data market is classified into manufacturing, web, healthcare, medicine, telecommunications, oil & gas, transportation, logistics and distribution, public and government facilities, media and entertainment, BFSI, and others. All the segments are projected to contribute significantly to the regional market, owing to the increased unstructured data in end-user applications.

Regional Analysis

North American big data market is mainly promoted by countries like Canada and the USA due to the extensive collection of data from structured and unstructured sources. Sectors such as retail and healthcare are an important segment of North America applications, driving the continued demand for Big Data in this market. These sectors also have a significant impact on the growth of new big data products and services.

Leading Company

IBM is a North American-based company that provides strategic, engineering and analysis services to help organizations maximize data knowledge.

The companies in the North America Big Data as a Service market are 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.