Big Data Analytics Among Top Three Deployment Priorities for Enterprises, Says Frost & Sullivan
Frost & Sullivan’s recent analysis, Post-pandemic Growth Opportunity Analysis of the Big Data Analytics Market, predicts that the global Big Data Analytics (BDA) market is estimated to witness double-digit growth in the post-pandemic COVID-19 era. Under an aspirational forecast scenario, which assumes that the COVID-19 virus is contained by August 2020 and that global markets will be able to recover by the end of the year, the market is expected to expand at a compound annual growth rate (CAGR) of 28.9%, reaching $68.09 billion by 2025 from $14.85 billion in 2019. Under the conservative forecast scenario, the market is likely to reach $41.84 billion by 2025, at a CAGR of 18.8%. Depending on the development and availability of a vaccine, the conservative forecast includes a market slowdown and recovery period of 18 to 24 months.
Read More: Monetate Releases React Mobile SDK For Faster, Easier Personalization
“BDA use will continue to grow because it is currently being utilized to manage, diagnose, and develop a cure for COVID-19,” said Deviki Gupta, Information & Communication Technologies Senior Industry Analyst at Frost & Sullivan. “Additionally, considering the benefits of BDA solutions in both the government and intelligence (G&I) and non-governmental organization (NGO) sectors, there will be an increase in demand for analytics as it has promising features, such as mitigating risk in business planning, improving operations, and better serving customer needs.”
Read More: SalesTechStar Interview With Krischel Crawley, Vice President Of Sales At Nasuni
Gupta added: “Despite the current crisis, BDA continues to be among the top three deployment priorities for enterprises, after data security and replacing legacy systems. Further, major competitive factors will include a vendor’s ability to serve advanced use cases and its ability to play a consultative role for customers, such as helping them better understand their hardware and software needs to achieve these use cases in both BDA market segments—data discovery and visualization (DDV) and advanced analytics (AA).”
