Spending on big data, analytics by Indian enterprises to touch $2bn in 2021: IDC. Indian enterprises are investing in big data analytics to base decisions on real-time data, and spending on such solutions is poised to grow by 11.5 per cent in 2021 to touch USD 2 billion, according to research firm IDC.
How big is the market for data analytics?
The global big data and business analytics (BDA) market was valued at 168.8 billion U.S. dollars in 2018 and is forecast to grow to 215.7 billion U.S. dollars by 2021.
Which sector has highest analytics size?
The finance and banking sector accounts for almost 37 percent of the total analytics market with approximately 756 million U.S. dollars, making it the highest revenue generating sector. Marketing and advertising comes second at 26 percent, while e-commerce contributes about 15 percent.
How much is the data industry worth 2020?
Amid the COVID-19 crisis, the global market for Big Data estimated at US$130.7 Billion in the year 2020, is projected to reach a revised size of US$234.6 Billion by 2026, growing at a CAGR of 10.2% over the analysis period.
What is the future of Big Data in India?
According to reports, the Indian analytics industry is estimated to reach approximately US$16 billion by 2025. A recent study reveals that between the years 2021 to 2026, the industry will grow at a CAGR of 35.1%.
How large is the data industry?
The global big data and business analytics market was valued at 169 billion U.S. dollars in 2018 and is expected to grow to 274 billion U.S. dollars in 2022. As of November 2018, 45 percent of professionals in the market research industry reportedly used big data analytics as a research method.
Where is Big Data used?
Big data is the set of technologies created to store, analyse and manage this bulk data, a macro-tool created to identify patterns in the chaos of this explosion in information in order to design smart solutions. Today it is used in areas as diverse as medicine, agriculture, gambling and environmental protection.
What is the future of data science in India?
Increasing demand for data science professionals Analysts predict that the country will have more than 11 million job openings by 2026. In fact, since 2019, hiring in the data science industry has increased by 46%. Yet, around 93,000 jobs in Data Science were vacant at the end of August 2020 in India.
What industries use big data the most?
Here is the list of the top 10 industries using big data applications:
- Banking and Securities.
- Communications, Media and Entertainment.
- Healthcare Providers.
- Manufacturing and Natural Resources.
- Retail and Wholesale trade.
What are V’s of big data?
Volume, velocity, variety, veracity and value are the five keys to making big data a huge business.
Why Big Data is the future?
Future of Big Data Big Data is commonly associated with other buzzwords like Machine Learning, Data Science, AI, Deep Learning, etc. Since these fields require data, Big data will continue to play a huge role in improving the current models we have now and allow for advancements in research.
How is big data growing?
The growth of the segment can be attributed to the rising demand for big data analytics services from enterprises. In addition, the growing need to modernize IT infrastructure will support the growth of the services segment during the forecast period.
Is big data analytics a good career in India?
Salary Aspects: Strong demand for Data Analytics skills is boosting the wages for qualified professionals and making Big Data pay big bucks for the right skill. Randstad states that the annual pay hikes for Analytics professionals in India is on an average 50% more than other IT professionals. 4
What is the salary of Big Data engineer in India?
The highest salary for a Big Data Engineer in India is ₹18,49,195 per year. The lowest salary for a Big Data Engineer in India is ₹4,01,665 per year.
Is Big Data a good career in India?
When it comes to job positions and roles, Big Data is one of the most versatile career options. As Analytics is a crucial tool used in many different fields, you get a host of job titles to choose from including: Big Data Analytics Business Consultant. Business Intelligence and Analytics Consultant.