Growing demand for increasing advancement in technology and increasing data generation drives the big data category’s growth

Big Data Category - Procurement Intelligence

The big data category is expected to grow at a CAGR of 12.7% from 2023 to 2030. North America accounts for the largest share of the category. The increasing demand for advancement in technology and increasing data generation in the business are boosting growth. Companies are focusing on adopting technology for boosting revenue and consumer base. For instance, in March 2022, Microsoft launched Azure Health Data Services, a cloud-based platform that combines health data and supports transactional and analytical workloads. It also powers artificial intelligence applications and protects protected health information (PHI).

Apache Hadoop is an open-source software framework that allows for the distributed storage and processing of large datasets. Hadoop breaks down large datasets into smaller chunks that can be stored and processed on multiple computers in parallel. This allows Hadoop to efficiently store and process large datasets that would be too large for a single computer to handle.

Companies are continuously focusing on partnering or developing their own technology. For instance,

• In April 2022, Wipro and DataRobot partnered to help businesses adopt Artificial Intelligence (AI) at a larger scale. The partnership will provide businesses with augmented intelligence solutions that can be used to improve decision-making, optimize operations, and deliver better customer experiences. The partnership will also help businesses to get more value from their data more quickly.

• Oracle updated Oracle Analytics Cloud in January 2022 with a new design experience that makes it easier for users to identify, display, and act on critical insights. The new design features a fresh new look, more whitespace, and fonts that are optimized for dense data.

• In May 2021, Telefonica Tech collaborated with Microsoft on Azure Edge Zone. Telefonica united its 5G connectivity with Microsoft Edge computing competencies, allowing industry procedures to strengthen digital transformation.

• In December 2021, Microsoft added a soft delete feature to Azure Data Lake Storage. This feature allows users to recover accidentally deleted files and folders for a specified period of time. After the retention period has expired, the deleted items are permanently deleted.

• In December 2021, Microsoft announced that Snowflake would be supported as a data source in Azure Purview. This means that users can now use automated data discovery to build a detailed map of their data environment, including Snowflake databases. Users can also quickly import information from Snowflake databases into the Azure Purview data map, and then manage and control the Snowflake data in Azure.

Category growth is expected to be fueled by the implementation of IOT, social media and user-generated content and decreasing cloud storage cost. The utilization of big data technology in social media like Facebook AI Research Lab and Amazon Kinesis is a key factor driving this trend.

Request a free sample copy or view report summary: Big Data Procurement Intelligence Report

Big Data Sourcing Intelligence Highlights

• The global big data category is fragmented, with numerous small and large players operating in different regions. The competition between players is intense as they strive to gain a wider customer base and improve customer experiences

• The growing number of suppliers of this technology, such as developers and programmers, has somewhat reduced the bargaining power of suppliers.

• Project scope, data volume, technology stack, and other factors form the most significant cost component in big data implementation. The overall cost also depends on the infrastructure, hardware and software, data acquisition, and integration.

• Most of the service providers offer complete services from data collection, development of technology, maintenance, and others.

Big Data Procurement Intelligence Report Coverage

Grand View Research will cover the following aspects in the report:

• Market Intelligence along with emerging technology and regulatory landscape

• Market estimates and forecasts from 2022 to 2030

• Growth opportunities, trends, and driver analysis

• Supply chain analysis, supplier analysis with supplier ranking and positioning matrix, supplier’s recent developments

• Porter’s 5 forces

• Pricing and cost analysis, price trends, commodity price forecasting, cost structures, pricing model analysis, supply and demand analysis

• Engagement and operating models, KPI, and SLA elements

• LCC/BCC analysis and negotiation strategies

• Peer benchmarking and product analysis

• Market report in PDF, Excel, and PPT and online dashboard versions

Cost Intelligence Highlights

Grand View Research has identified the following key cost components for the big data category:

• System development and integration

• Testing and launch

• Maintenance

• Architecture design

• Hardware and Software configuration

• Others

System development and integration, testing, and launch form the largest cost components of the big data category.

List of Key Suppliers in the Big Data Category

• Accenture

• Cloudera

• Google

• Hewlett-Packard Company

• IBM

• Mu Sigma Inc.

• Amazon

• Oracle Corporation

• Splunk Inc

• Teradata Corporation