Deluge of IoT Big Data, a Fallout of the Growing IoT Ecosystem, Amplifies the Importance & Value of Big Data Analytics

The global market for Big Data estimated at US$154.9 Billion in the year 2022, is projected to reach a revised size of US$353.9 Billion by 2030, growing at a CAGR of 10.9% over the analysis period 2022-2030.

The report provides an independent analysis of annual revenues and percentage CAGR for the years 2022 through 2030, along with historic review data for the years 2015 through 2021.

The global market analysis encompasses various segments, including Solutions and Services within industries like BFSI, IT & Telecom, Manufacturing, Retail, Government, Healthcare, and Other End-Uses across different geographic regions such as the USA, Canada, Japan, China, Europe, Asia-Pacific, and Rest of the World.

Solutions segment is projected to record 10.1% CAGR and reach US$228.4 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Services segment is readjusted to a revised 12.5% CAGR for the next 8-year period.

The U.S. Market is Estimated at $55 Billion, While China is Forecast to Grow at 12.7% CAGR

The Big Data market in the U.S. is estimated at US$55 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$44.8 Billion by the year 2030 trailing a CAGR of 12.7% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.5% and 10.4% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 10.5% CAGR.