Global Big Data Market, valued at USD 308.26 billion in 2024, is projected to reach USD 743.38 billion by 2030, expanding at a CAGR of 13.4% over the forecast period (2025–2030). The market growth is driven by the exponential increase in data generated from social media platforms such as Facebook, Twitter, Instagram, WhatsApp, and Snapchat, along with the widespread adoption of digital solutions across industries.

Big Data refers to massive data sets that are too large or complex for traditional database management systems to handle efficiently. Leveraging advanced analytics tools, Big Data enables organizations to uncover hidden patterns, correlations, and insights that drive smarter decision-making. The technology is widely used across sectors such as Banking, Financial Services and Insurance (BFSI), Government, Defense, Healthcare, Manufacturing, Retail, Education, Travel, Telecommunications, and Logistics.

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Market Dynamics

Key Drivers

1. Rising Adoption of Digital Solutions

The increasing digitization across industries such as healthcare, BFSI, retail, agriculture, and telecommunications is significantly boosting data generation. The growing number of connected devices, IoT sensors, and mobile applications has created vast data repositories. Organizations are increasingly leveraging Big Data analytics to process and interpret these data sets, improving decision-making, enhancing operational efficiency, and unlocking new growth opportunities.

2. Declining Cost of Technology

The cost of storing and processing large volumes of data has dropped dramatically, making Big Data technologies more accessible to small and medium-sized enterprises (SMEs). The emergence of open-source frameworks like Apache Hadoop has made distributed data storage and processing affordable, fueling widespread adoption of Big Data analytics solutions globally.

Market Restraints

Despite the rapid growth, the Big Data market faces challenges related to data security, privacy, and integration. Managing massive and diverse data sets increases the risk of data breaches, fake data generation, and compliance issues. As data becomes more valuable, ensuring real-time security and governance remains a top priority for organizations.

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Impact of COVID-19

The COVID-19 pandemic accelerated digital transformation across industries. As businesses shifted to online operations and remote work environments, the demand for data analytics surged. Companies increasingly utilized Big Data and AI technologies for predictive maintenance, supply chain optimization, and customer analytics.

A 2021 KPMG survey across 10 countries revealed that 67% of business leaders enhanced their digital transformation strategies, while 63% increased their technology budgets due to the pandemic. Furthermore, according to IDC, over 152,000 IoT devices will connect every minute by 2025, further driving the need for efficient Big Data management solutions.

Market Segmentation

By Component

Software: Expected to hold the largest market share due to applications in business intelligence, risk management, customer analytics, and compliance monitoring.

Hardware: Witnessing steady growth with increased demand for high-capacity data storage and processing systems.

Services: Projected to grow significantly as businesses seek consulting, integration, and managed analytics services.

By Application

Data Discovery & Visualization: Leading the segment due to rising demand for real-time insights and decision-making tools.

Advanced Analytics: Rapidly growing with the integration of machine learning and data mining technologies.

Others: Including data preparation and other analytics applications.

By Vertical

BFSI: Holds the largest revenue share, utilizing Big Data for customer acquisition, fraud detection, and risk management.

Retail: Expected to grow at the highest CAGR, driven by personalized marketing and predictive analytics.

Healthcare & Life Sciences: Leveraging data analytics to improve patient outcomes and operational efficiency.

Telecom/Media: Utilizing Big Data for customer behavior analysis and targeted advertising.

Government & Energy Sectors: Implementing analytics for smart city projects, energy optimization, and resource management.

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Regional Insights

North America: Dominates the global Big Data market due to the strong presence of technology giants and widespread adoption of advanced analytics across industries.

Asia-Pacific: Expected to register the highest CAGR, led by booming economies such as China, India, Japan, and South Korea, with rapid digital transformation across BFSI, retail, and healthcare sectors.

Europe: Witnessing strong growth with increasing data regulations and adoption of cloud-based analytics.

Latin America, Middle East & Africa: Experiencing gradual adoption driven by digital competitiveness and modernization of enterprise operations.

Competitive Landscape

The Big Data market is moderately consolidated, with key players focusing on product innovation, partnerships, and acquisitions to expand their market presence. Major companies include:

IBM Corporation (U.S.)

SAP SE (Germany)

Microsoft Corporation (U.S.)

SAS Institute Inc. (U.S.)

Fair Isaac Corporation (U.S.)

Oracle Corporation (U.S.)

Salesforce Inc. (U.S.)

Equifax Inc. (U.S.)

TransUnion (U.S.)

Storage in Big Data Market

Persistence Market Research delivers key insights on the global storage in big data market in a new report titled, “Storage in Big Data: Global Industry Analysis and Forecast, 2016–2026”. According to the report, the global storage in big data market is estimated to be valued at US$ 9,599.1 Mn by the end of 2016 and this is anticipated to increase to US$ 61.44 Bn by 2026 end. In terms of value, the global storage in big data market is expected to register a CAGR of 20.4% over the forecast period (2016–2026). This is attributed to various factors, regarding which Persistence Market Research offers vital insights in detail in this study.

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Competitive landscape

The global storage in big data market report covers various solution providers operating in the global storage in big data market. Top companies profiled in the report include Google Inc., Microsoft Corporation, Amazon Web Services Inc., VMware Inc., IBM Corporation, Dell EMC, SAS Institute Inc., Oracle Corporation, SAP SE, Teradata Corporation, Hewlett Packard Enterprise, Hitachi Data Systems Corporation, and MemSQL Inc.

Some of these companies are adopting strategies such as increasing global investment in cloud services, providing hybrid storage solutions, enhancing flash storage product portfolio, integrating cloud and flash technology with storage products, and collaborating with various technology partners to expand their market presence and enhance customer base globally.

Market dynamics

Digitization of records globally is the primary factor driving the global storage in big data market. Due to recent laws enforced by governments of various countries, companies are shifting towards digital maintenance of records, especially in the healthcare sector. Increasing digital data volumes is leading to companies increasingly adopting various data storage options.

Further, increasing adoption of software-based storage options and an increase in the number of connected devices is expected to fuel the growth of the global storage in big data market over the forecast period. One of the major restraints for growth of the global storage in big data market to a certain extent are macroeconomic factors such as reduced budgets for data storage and high total cost of ownership of flash storage. Improper data representation is also posing a threat to the global storage in big data market.

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Market forecast

The global storage in big data market is segmented on the basis of – Segment (Hardware Segment, Software Segment, Services Segment); Industry (BFSI, IT and Telecommunications, Transportation, Logistics & Retail, Healthcare and Medical, Media and Entertainment, Others); and Region (North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan, and Middle East & Africa (MEA)).

The Hardware segment dominated the global storage in big data market with 49.1% market share in terms of value in 2015. The Hardware segment is estimated to create incremental $ opportunity of US$ 16.38 Bn between 2016 and 2026. The Software segment is estimated to create incremental $ opportunity of US$ 11.34 Bn between 2016 and 2026.

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The global big data market is expected to reach USD 123.2 billion by 2025, according to a new report by Grand View Research, Inc. The amount of data flowing across organizations has witnessed enormous growth over the last few years and the trend continues. Evolving consumer demands coupled with contracting budgets are impacted by the proliferating data, which puts considerable pressure on organizations to make the right decision in order to seize a competitive advantage.

Big data solutions enable organizations to effectively manage large data volumes thereby reducing cost. Additionally, these solutions also facilitate companies to overcome frauds, streamline critical business processes, and reduce errors. Further, the growing need to manage and monitor the heterogeneous nature of the data generated from web clicks to satellite data is also anticipated to significantly propel the industry growth over the next few years.

Increased adoption of cloud computing has generated a large amount of data on account of rapid technological advancements and increased connectivity, owing to smartphone proliferation. Thus, the big data industry is estimated to witness a high demand in order to keep pace with this data explosion. However, lack of skilled manpower including data analysts and data scientists that are required to leverage big data capabilities is expected to hamper the demand. There exists a huge requirement for professionals who are capable of exploiting big data analytics in order to make valuable decisions.

To request a sample copy or view summary of this report, click the link below: http://www.grandviewresearch.com/industry-analysis/big-data-industry

Further key findings from the report suggest:

The network     equipment segment is expected to witness a healthy growth at a CAGR     exceeding 20% over the forecast period, owing to the reinforcement of new     network infrastructures in order to offer enhanced security.

The     visualization segment emerged as the fastest growing software segment over     the forecast period, which is ascribed to the elevating demand for visuals     to represent the analyzed data and convey exact interpretation to     consumers.

Media &     entertainment and gaming captured a sizeable share exceeding 5% of the     overall revenue, which is attributed to the growing number of companies     seeking to escalate the value of their assets by integrating creativity     with technological breakthroughs.

North     America accounted for a sizeable revenue share exceeding 30% in 2015,     which is attributed to the high penetration, primarily, across the IT     & telecommunication, BFSI, and retail sectors.

Notable     industry players, such as IBM, HP, Cloudera, and Oracle, are gradually     investing in R&D, for developing unified big data solutions that offer     increased capabilities. These players rely on developing innovation-led     solutions to increase productivity and reduce cost in an attempt to     attract new customers.

See More Reports of This Category: https://www.grandviewresearch.com/industry/digital-media

About Grand View Research:

Persistence Market Research delivers key insights on the global storage in big data market in a new report titled, “Storage in Big Data: Global Industry Analysis and Forecast, 2016–2026”. According to the report, the global storage in big data market is estimated to be valued at US$ 9,599.1 Mn by the end of 2016 and this is anticipated to increase to US$ 61.44 Bn by 2026 end. In terms of value, the global storage in big data market is expected to register a CAGR of 20.4% over the forecast period (2016–2026). This is attributed to various factors, regarding which Persistence Market Research offers vital insights in detail in this study.

Request Sample: https://www.persistencemarketresearch.com/samples/12235

Market dynamics

Digitization of records globally is the primary factor driving the global storage in big data market. Due to recent laws enforced by governments of various countries, companies are shifting towards digital maintenance of records, especially in the healthcare sector. Increasing digital data volumes is leading to companies increasingly adopting various data storage options. Further, increasing adoption of software-based storage options and an increase in the number of connected devices is expected to fuel the growth of the global storage in big data market over the forecast period. One of the major restraints for growth of the global storage in big data market to a certain extent are macroeconomic factors such as reduced budgets for data storage and high total cost of ownership of flash storage. Improper data representation is also posing a threat to the global storage in big data market.

Leading market players are integrating predictive analytics with storage systems and are providing storage servers close to end users to reduce latency time.

Market forecast

The global storage in big data market is segmented on the basis of – Segment (Hardware Segment, Software Segment, Services Segment); Industry (BFSI, IT and Telecommunications, Transportation, Logistics & Retail, Healthcare and Medical, Media and Entertainment, Others); and Region (North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan, and Middle East & Africa (MEA)).

The Hardware segment dominated the global storage in big data market with 49.1% market share in terms of value in 2015. The Hardware segment is estimated to create incremental $ opportunity of US$ 16.38 Bn between 2016 and 2026. The Software segment is estimated to create incremental $ opportunity of US$ 11.34 Bn between 2016 and 2026.

The BFSI segment was valued at US$ 1,694.1 Mn in 2015 and is estimated to reach US$ 2,071.2 Mn by the end of 2016, reflecting a Y-o-Y growth rate of 22.3%. The Media and Entertainment segment is expected to register high Y-o-Y growth rates throughout the forecast period.

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Among regions, North America is expected to remain dominant in terms of revenue throughout the forecast period, registering a CAGR of 21.1% between 2016 and 2026. The North America storage in big data market is estimated to be valued at US$ 30.12 Bn by the end of 2026. The Western Europe storage in big data market is anticipated to register the highest CAGR of 21.8% during the forecast period. Latin America is projected to be the most attractive region in the global storage in big data market in terms of revenue during the forecast period.

Competitive landscape

The global storage in big data market report covers various solution providers operating in the global storage in big data market. Top companies profiled in the report include Google Inc., Microsoft Corporation, Amazon Web Services Inc., VMware Inc., IBM Corporation, Dell EMC, SAS Institute Inc., Oracle Corporation, SAP SE, Teradata Corporation, Hewlett Packard Enterprise, Hitachi Data Systems Corporation, and MemSQL Inc. Some of these companies are adopting strategies such as increasing global investment in cloud services, providing hybrid storage solutions, enhancing flash storage product portfolio, integrating cloud and flash technology with storage products, and collaborating with various technology partners to expand their market presence and enhance customer base globally.

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