Big Data Services In Small & Medium Business Market - Forecast(2024 - 2030)

Big Data Services In Small & Medium Business Market size was valued $6.34 billion in 2019, estimated to grow at a CAGR of 25.8% during 2020-2025. The growing adoption of big data analytics in business processes for enhancing productivity and to ensure, and store large amount of data are enhancing the growth of the big data services industry. The rising deployment of technologies such as IOT and tracking solutions such as Real Time Location Systems (RTLS) and Radio Frequency Identification based solutions (RFID) which presents more distributed database applications along with rising data mining and data aggregators will propel the Big Data Services In Small & Medium Business Market. Moreover, the deployment cloud-based services and the rising demand new technologies such as continuous intelligence and augmented analytics are surging the growth of the market. The explosion of huge amount of data by organization due to the advancement in technology has risen the demand for the big data services Industry during the forecast period. 

The report: “Big Data Services In Small & Medium Business Market - Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Big Data Services In Small & Medium Business Market. 

By Deployment: On-Premise, On-Cloud and Hybrid

By Analytics: Business Analytics, Web Analytics, Sales Analytics, Predictive Analytics and others.

By Industry Type: Micro Industry, Small Scale Industry, Medium Scale Industry and Large Scale Industry.

By Application: Super Market Chains, Travel & Tourism Industry, Banks, Food & Beverages, Automobile & Airlines, Real State and Others.

By Geography: North America (U.S, Canada, Mexico), South America(Brazil, Argentina and others), Europe(Germany, UK, France, Italy, Spain, Russia and Others), APAC(China, Japan India, South Korea, Australia and Others), and RoW (Middle east and Africa)

On-Cloud segment held the largest market share in the Big Data Services In Small & Medium Business Market in 2019. The growing demand for public cloud, hybrid cloud and private cloud are enhancing the growth of Big Data Services In Small & Medium Business Market. As, the cloud based deployment leads to provide low cost solutions to the business which are mainly adopted by companies.  Moreover, the deployment of private cloud also organizations with full control over their systems and data with effective data security. In addition, the on-cloud also enable the organization to leverage the advantage of big data services and platforms which offers cost-efficiency and enhanced security. This factors are enhances the deployment of on-cloud big data services segment further propelling the growth of the market.

In 2019, North America dominated the Big Data Services In Small & Medium Business Market with a share of more than 41.5%, followed by Europe and APAC. The presence of dominant players such as IBM, Microsoft Corporation, Google Inc. and so on has highly fueled the growth of Big Data Services In Small & Medium Business Market in this region. Moreover, the increasing adoption of big data technologies in enterprises in order to fulfil customer’s requirement are enhancing the market growth. In addition, the need for big data services in the US for growing advances in discrete manufacturing, banking, process manufacturing, professional and government services are further propelling the growth of the Big Data Services In Small & Medium Business Market. 

Continuous intelligence refers to a system that integrates real-time analytics with business operations. Organizations are widely preferring to adopt this system as it processes historical and current data in order to provide decision-making automation or decision-making support. In addition, continuous intelligence leverages other technologies such as optimization, business rule management, event stream processing, augmented analytics and machine learning. Also, continuous intelligence is a new technology which is evaluating other technologies, and this is leading to the growing demand for continuous intelligence system in organizations. It is also estimated that many organizations will incorporate with continuous intelligence during 2020 in order to maintain competitive edge. This significant rise of continuous intelligence will drive the growth of the Big Data Services In Small & Medium Business Market.

As big data services are widely being deployed in the small and medium enterprises which has also enhanced the need or augmented analytics. Augmented analytics is widely being implemented in business process for automating the process of gaining business insights with the deployment of artificial intelligence and machine learning. The organizations are also widely enhancing the demand for augmented analytics in order to analyze and clean the data in order to create the required insights. It is also predicted that by the end of 2020, augmented analytics will become the primary purchase for business that are dealing with analytics and business intelligence. Thus, the growing need for augmented analytics will further fuel the Big Data Services In Small & Medium Business Market. 

The exponential increase in the data that enterprises access today are rising rapidly which is leasing to the explosion of data. Big data services allows to retrieve data, but still lacks in managing ample amount of data. Moreover, the rise of unstructured data leading to the rise of various formats such as Video, audio, social media, smart device data and so on are also leading to provide issues for big  data services for managing them. This key challenge of handling large volume of data is hampering the growth of the market. 

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Big Data Services In Small & Medium Business Market. In 2019, the market of Big Data Services has been consolidated by the major players – Amazon Web Services, Inc., Hewlett Packard Enterprise (HP), IBM Corporation, Microsoft Corporation, Oracle Corporation, SAP SE, SAS Institute Inc., Teradata Corporation, Google, Inc., and Accenture.