![]() For instance, as per the Statista report published in January 2021, the number of digital voice assistants is expected to reach 8.2 billion. Further, virtual assistants, such as Apple’s Siri, Google Assistants, and Amazon Alexa, produce enormous amounts of data. Similarly, businesses are implementing bots to automate and reform functional scenarios. In agriculture, big data analytics is applied to analyze huge data sets, such as advanced risk assessment, supply tracks, natural trends, ideal crops, and more. Smart machines, soil sensors, and GPS-equipped tractors generate massive data sets. For instance, artificial intelligence brings a noteworthy change in the agriculture sector's risk management, precision farming, and pest control. The increasing digital solutions across business sectors, such as banking, healthcare, BFSI, retail, agriculture, and telecom/media, significantly increase data. Increasing Adoption of Databases across Industries to Bolster Market Growth Thus, the rising adoption of edge computing to further boost database quantity is projected to create lucrative opportunities for the market. Telefonica united its 5G connectivity with Microsoft Edge computing competencies, allowing industry procedures to strengthen digital transformation. In May 2021, Telefonica Tech collaborated with Microsoft on Azure Edge Zone.Edge computing solutions are defined as a structure where the processors are placed closer to the destination or source for data instead of clouds.ĭata located near the source or destination saves time for uploading data on the cloud or on-premise platforms and sinks the server and network load. The increasing requirement for connected devices accelerates the execution of edge computing. According to the International Data Corporation (IDC) data, 152,200 IoT devices will connect per minute by 2025. The increase in connected IoT devices volume is owing to the surging adoption of Machine Learning (ML) algorithms, the Internet of Things (IoT), and Artificial Intelligence (AI). Growing Trend of Edge Computing to Surge Big Data Analytics Tools Demand Request a Free sample to learn more about this report. This factor should boost market growth during the pandemic. The survey found that 67% accelerated their digital transformation strategy, and 63% increased their digital transformation budget due to COVID-19. In July 2020, KPMG examined 780 digital renovation strategy leaders across 12 industries in 10 countries. Businesses are shifting their digital strategies to operate efficiently in this ever-changing environment amid the pandemic. Similarly, organizations in various sectors are switching to working from home and implementing advanced analytics to understand emerging trends during the pandemic. are driving the growth of the healthcare market. ![]() to help the manufacturing sector grow in a tough business environment.Īdoption of AI-driven advanced reporting, healthcare business intelligence, electronic medical records, etc. Artificial intelligence technology is applied to asset management, inventory management, predictive maintenance, network manufacturing, real-time alerts, etc. Industries Shifting to Digital Solutions amid Pandemic to Boost Market Opportunityĭigital transformation in manufacturing, healthcare, retail and other sectors during the pandemic is expected to evolve data generation. launched Amazon HealthLake, a HIPAA-compliant big data analytics service for the healthcare industry that provides real-time patient data. For instance, in December 2020, Amazon, Inc. Prominent sectors aim on employing analytical tools to obtain customer insights by developing business intelligence. In the scope, we have considered solutions offered by major market players such as Azure Databricks, SAP Analytics Cloud, SAP HANA Cloud, IBM Db2 Big SQL, and Background Data Solutions.īig data analytics examines unstructured and structured databases to understand and deliver insights based on correlation, hidden patterns, varying market trends, and more. The market is projected to grow from USD 307.52 billion in 2023 to USD 745.15 billion by 2030, exhibiting a CAGR of 13.5% during the forecast period. The global big data analytics market size was valued at USD 271.83 billion in 2022.
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