Data and Analytics Market Size, Trends, Drivers and Challenges, Vendor Landscape, Opportunities and Forecast to 2027
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Data and Analytics Market Overview
The global data and analytics market size was pegged at $100.8 billion in 2022. The market is expected to grow at a CAGR of more than 13% during the forecast period, 2022-2027. To withstand the continuously shifting business dynamics, businesses are putting more emphasis on enhancing their efficiency and business agility, reducing operating expenses, and highlighting their core capabilities. These reasons will contribute to the growth of the data and analytics market, globally.
Data and Analytics Market Outlook, 2022-2027 ($ Billions)
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The ‘Enterprise Data and Analytics Market’ research report provides an executive-level overview of the current data and analytics market worldwide, with detailed forecasts of key indicators up to 2027. Published annually, the market report provides a detailed analysis of the near-term opportunities, competitive dynamics, and evolution of demand by product/service type and verticals across the large enterprise and micro, small, and medium enterprise (MSME) markets, a review of key data and analytics market trends, and the technological developments that are shaping the data and analytics landscape.
Market Size 2022 | $100.8 billion |
CAGR | >13% |
Forecast Period | 2022-2027 |
Product/Service Types | Data and Content Management, Business Intelligence (BI) and Data Discovery Platforms, Big Data Platforms |
Key Industry Verticals | BFSI, Manufacturing, Information Technology, Retail, and Government |
Enterprise Size Band | MSME and Large Enterprises |
Key Regions | Asia Pacific, North America, Western Europe, Middle East and Africa, South and Central America, and Central and Eastern Europe |
Leading Companies | Microsoft, IBM, Google, Accenture, and Salesforce |
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Data and Analytics Market Segmentation by Software Types
The global data and analytics market is divided across three service types namely:
- Data and Content Management
- Business Intelligence and Data Discovery Tools
- Big Data Platforms
Data and Analytics Market Share by Service Types, 2023 (%)
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Data and Content Management Represents the Largest Contributor to the Total Data and Analytics Market Value
Data and content management was the largest category in the global data and analytics market with its share in the overall market estimated at $45.2 billion for 2022. Enterprise data and content management solutions are designed to address the structured and unstructured content management needs of organizations. These solutions enable businesses to seamlessly capture, store, manage, and deliver content, thereby enabling end users with access to the required information.
Data and Analytics Market Segmentation by Vertical
The BFSI sector is the largest end-use market for data and analytics. The report analyses the data and analytics market across several industry verticals including:
- BFSI
- Manufacturing
- Information Technology
- Retail
- Government
Data and Analytics Market Share by Vertical, 2023 (%)
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Data and Analytics Market Segmentation by Regions
The report also analyses the data and analytics market across the following six regions:
- Asia Pacific
- North America
- Western Europe
- Middle East and Africa
- South and Central America
- Central and Eastern Europe
Data and Analytics Market Share by Region, 2023 (%)
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According to GlobalData’s analysis, Asia Pacific was the leading regional market with revenue estimated at $34.2 billion for 2022 and will grow at a CAGR greater than 15% over the forecast period. China contributes the majority share of the data and analytics revenue estimated for Asia Pacific in 2022 owing to its large economy and enterprise footprint.
Data and Analytics Market – Drivers, Trends and Challenges
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Data and Analytics Market - Competitive Landscape
The global data and analytics vendor landscape is dominated by prominent international players such as Microsoft, IBM, Google, Accenture, and Salesforce.
Leading Data and Analytics Companies
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Scope
The market intelligence report provides an in-depth analysis of the following –
- Data and analytics market outlook by product/service type: Analysis as well as historical figures and forecasts of revenue opportunities from the data and analytics product/service type.
- Data and analytics market outlook by enterprise size band: Analysis as well as historical figures and forecasts of revenue opportunities from the enterprise size band perspective.
- Data and analytics market outlook by regions: Analysis as well as historical figures and forecasts of revenue opportunities from regional perspective.
- Data and analytics market outlook by revenue opportunity: Analysis as well as historical figures and forecasts of revenue opportunities from regional perspective.
- Vendor landscape: An examination of the positioning of leading players in the data and analytics market.
- Underlying assumptions behind our published base-case forecasts, as well as potential market developments that would alter, either positively or negatively, our base-case outlook.
Reasons to Buy
- This market intelligence report offers a thorough, forward-looking analysis of global data and analytics, data and analytics solution providers, and key opportunities in a concise format to help executives build proactive and profitable growth strategies.
- Accompanying GlobalData’s Forecast products, the report examines the assumptions and drivers behind ongoing and upcoming trends in global data and analytics market.
- The report also highlights key vertical industries (BFSI, Manufacturing, IT, Construction, etc.), enterprise size bands (Micro, small, medium, large, and very large) and key regions (North America, Asia Pacific, Western Europe, Middle East and Africa, Central and Eastern Europe, and South and Central America)
- With charts and tables, the report is designed for an executive-level audience, boasting presentation quality.
- The report provides an easily digestible market assessment for decision-makers built around in-depth information gathered from local market players, which enables executives to quickly get up to speed with the current and emerging trends in global data and analytics market.
- The broad perspective of the report coupled with comprehensive, actionable detail will help security hardware and software vendors, service providers, and other communications and collaboration players succeed in the growing data and analytics market worldwide.
IBM
Accenture
Salesforce
Table of Contents
Frequently asked questions
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What was the data and analytics market size in 2022?
The data and analytics market size was valued at $100.8 billion in 2022.
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What is the data and analytics market growth rate?
The data and analytics market is expected to grow at a CAGR of more than 13% during the forecast period.
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What are the key data and analytics market drivers?
The increasing emphasis of businesses on enhancing their efficiency and business agility, reducing operating expenses, and highlighting their core capabilities is stimulating the growth of the data and analytics industry globally.
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Which is the leading service type segment in the data and analytics market in 2023?
Data and content management is the leading service type segment in the data and analytics market in 2023.
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Which is the leading vertical in the data and analytics market in 2023?
BFSI is the leading vertical in the data and analytics market in 2023.
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Which region accounted for the largest data and analytics market share in 2023?
The Asia-Pacific region accounted for the largest data and analytics market share in 2023.
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Which are the leading global data and analytics companies?
Some of the leading data and analytics companies are Microsoft, IBM, Google, Accenture, and Salesforce among others.
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