The Big Data industry is driven by sharp increase in data volume and rise in data connectivity through cloud computing. Additionally, the incorporation of digital transformation in top-level strategies has also been a major factor in the growth of the Big Data market. However, it is important to consider the potential risks associated with Big Data, such as data privacy and security, as well as the lack of skilled professionals. It is also important to note that the Big Data market is still in its early stages, and more research is needed to fully understand the potential of this technology.
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Emerging Trends, Opportunities, and Market Demands
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A new report from MarketsandMarkets™ estimates that the global Big Data market size is projected to grow from USD 162.6 billion in 2021 to 273.4 USD billion in 2026, at a Compound Annual Growth Rate (CAGR) of 11.0%. This research report categorizes the Big Data Market to forecast revenues, analyze trends, and explore Component, Deployment Mode, Organization Size, Business Function, Industry Vertical (BFSI, Manufacturing, Healthcare & Life Sciences) and Region. Major Big Data companies include IBM, Google, Oracle, Microsoft, SAS, SAP, Alteryx, TIBCO, Cloudera, Teradata, AWS, Informatica, Sisense, Salesforce, HPE, Qlik, Splunk, VMware, Accenture, Ataccama, COGITO, Centerfield, RIB datapine, Fusionex, BigPanda, Bigeye, Imply, Rivery, YugabyteDB, Airbyte, Cardagraph, Firebolt, and Syncari. These market players have adopted various growth strategies, such as partnerships, collaborations, and new product launches, to expand their offerings.
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