DUBLIN–(BUSINESS WIRE)–The “Big Data Market in India 2023” report has been added to ResearchAndMarkets.com’s offering.
The big data market in India was valued at INR 157.24 Bn in 2022. It is expected to reach INR 253.22 Bn by 2027, expanding at a CAGR of ~10.60% during the 2023 – 2027 period.
Comparatively, the global big data market was valued at INR 21329.61 Bn in 2022. It is expected to reach INR 69,777.53 Bn by 2027, expanding at a Compound Annual Growth Rate (CAGR) of ~27.96% during the 2023 – 2027 period.
Big data analytics is the process of analyzing large amounts of raw data to uncover information and patterns that will assist businesses in making informed decisions.
It is a type of analytics that employs processes such as predictive modeling, to examine large amounts of unstructured data and provide businesses with solutions that keep them ahead of the competition. Organizations rely heavily on big data to boost profits, improve analytics skills, and support risk management capabilities.
Market insights:
At present, India is one of the top 10 countries in the market, with over 600 data analytics firms. This number is expected to increase in the future. Big data has become prevalent in several industries, including telecommunications, financial services, e-commerce, and healthcare, because of the increased demand for cloud-based solutions and predictive analytics capabilities.
Impact of COVID-19:
The pandemic has caused delays in the implementation of new big data technologies and tools, further slowing down the market’s growth.
In order to forecast the development of the coronavirus sickness and its risks, data analysts from hospitals in India and around the world succeeded to collect information on patient travel and hospital data. With the shift towards remote work, there has been an increased need for cloud-based big data solutions, creating opportunities for cloud service providers in the Indian market.
Market Influencers:
Market drivers:
As businesses strive for agility, flexibility, and resilience, they will become more reliant on cloud platforms, infrastructure, and software than before. The demand for cloud-based collaboration tools, content management solutions, and online streaming platforms has increased.
The continued trend of increased remote workers in 2021 resulted in a surge in spending on desktop-as-a-service (DaaS) and infrastructure-as-a-service (IaaS). Across sectors, several organizations consider data science as a critical component of an enterprise’s ability to scale sustainably.
Key deterrents to the growth of the market:
Analysts will get poor results if the system relies on data with flaws, errors, or which is incomplete. Data quality management and a mandatory data validation process covering every Extract, Transform, Load (ETL) stage can help ensure the quality of incoming data at various levels. It is also critical to perform a system redesign step by step, gradually replacing old elements with new ones.
Key Topics Covered:
Chapter 1: Executive summary
Chapter 2: Socio-economic indicators
Chapter 3: Introduction
3.1. Market definition and structure
Chapter 4: Market overview
4.1. Global big data market – Market size and growth forecast (2020 – 2027e)
4.1.1. Big data market in India – Market size and growth forecast (2020 – 2027e)
4.1.2. Total Enterprise Application Software End-User Spending in India
Chapter 5: COVID-19 Impact Analysis
5.1. COVID-19 Impact Analysis
Chapter 6: Government initiatives
6.1. Government initiatives
Chapter 7: Market influencers
7.1. Market drivers
7.2. Market challenges
Chapter 8: Market trends
8.1. Market trends
Chapter 9: Competitive landscape
9.1. Latent View Analytics Limited
9.2. Tata Consultancy Services Limited
9.3. Tech Mahindra Limited
9.4. Accenture Solutions Private Limited
9.5. Capgemini Technology Services India Limited
9.6. Genpact India Private Limited
9.7. Datafactz Solutions Private Limited
9.8. Gramener Technology Solutions Private Limited
9.9. Hyperlink Infosystem Private Limited
9.10. SPEC INDIA
Chapter 10: Recent developments
Chapter 11: Emerging Startups
Chapter 12: Recent developments
For more information about this report visit https://www.researchandmarkets.com/r/bhng3m
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