Big Data Consulting Market - Forecast (2024 - 2030)

The Big Data Consulting Market is forecast to reach $4.2 billion by 2026, growing at a CAGR of 32.3% from 2021 to 2026 due to rapid increase in consumer and machine data developments. Big Data is referred as the collection of data sets that are large and complex and is not possible to process it in traditional way. In Big Data Consulting, companies collects the data from respective clients to analyze the data for identification of the business problems where data strategist and data analyst analysis it to obtain the optimum solution and implementing the solution. The market is driven by rising consumer data, superior information security, and enhanced business efficiencies.

Big Data Consulting Market Report Coverage

The report: “Big Data Consulting Market– Forecast (2021-2026)”, by IndustryARC covers an in-depth analysis of the following segments of the Big Data Consulting Market.

By Type – Solutions, Services.

By Deployment – Cloud, On-Premises, Hybrid.

By Application – Data Strategy Consulting, Data Assessment, Analytics, Design and Architectural Consultation, Implementation, Capacity Planning, Performance and Opportunity Analysis, Customer Insights and Others.

By Organization Size – SMEs and Large Enterprises.

By End-Use Industry – BFSI, Transportation, Government and Defense, Healthcare and Life sciences, Education and Research, IT and Telecom, Retail and Others.

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

Key Takeaways

The expansion of the Internet of Things (IoT) has added numerous new sources of Big Data into the Data Management background and is one of the major trends in the forecast period.

Use of Business Intelligence (BI) from the cloud will increase, and the on-going advancement in improved data visualization models and self-service software will be seen in analytics.

AI and Machine Learning technology are moving at a faster pace and helping businesses transform, through cases like real-time ads, pattern recognition, malfunction detection, etc. Working on traditional algorithm of machine learning will become faster and more accurate helping enterprises to make more appropriate decisions. This major change will help the market to continue its growth in the coming decade

For More Details on This Report - Request for Sample

Big Data Consulting Market Drivers

Rising Consultancy surrounding development of Big Data Architecture

Big Data Consulting advices the organization about the Big Data, strategy, implementation and technology which best fit to the organization to manage the Data sets. Across the world many different Big Data projects were taken up to create many Big Data models, frameworks and new technologies to provide more storage capacity, real-time analysis and parallel processing of different large amount of data from heterogeneous source. Big Data consulting Market consist of two main strategists such as Data Strategist/Architect and Data Scientist/Analyst whose role is to identify the business problems, defining the solution, optimizing the solution and implementing the solution. This will drive the market.

Rising Amount of Data Generated by Organizations

One of the current trends in the Big Data Consulting Market is, it is widely popular and in-demand due to the rising storage capacity in terms of Terabyte and Petabyte of Big Data generated by the organizations. It is widely used because it can handle large amount of data and keep scaling to keep up growth and can provide input and output data to analytical tools for analysis. Big Data challenges include storage of data, capturing data and analyzing data. These can be done by few analytical tools such as Apache Hadoop, NoSQL, JAQL, Hive and others. Out of these tools Apache Hadoop is widely used and is in trend due to its storage capacity, Hadoop file storage system which can split data and can distribute across many nodes thus providing high availability. All these aspects are making Big Data consulting market face higher adoption and we can expect the growth of this market, as more and more organization are looking forward for alternative tool or cloud storage to store its generated data to analyze it and make corrective approach to generate revenue.

Purchase this Premium Report: https://www.industryarc.com/purchasereport.php?id=17928

Big Data Consulting Market Challenges

Concerns Regarding Data Privacy

The biggest challenge with Big Data is the sensitive issue of data privacy and security, which most organizations are facing. With the implementation of GDPR regulations, consumer data privacy issues have been put to the forefront. Privacy concerns are cropping up as companies feed more and more consumer and vendor data into advanced, AI-fuelled algorithms to create new bits of sensitive information, unbeknownst to affected consumers and employees. This is especially prevalent in the BFSI sector, where consumer data collection has been at the forefront in terms of big data challenges. These data privacy concerns will hinder the adoption of Big Data consulting solutions.

Big Data Consulting Market Landscape

Product launches, acquisitions, and R&D activities are key strategies adopted by players in the Big Data Consulting Market. Accenture, Amazon Web Service, Dell, HP, IBM, Oracle, SAP, Teradata Corporation and others are considered to be the key players of the Big Data Consulting Market.

Acquisitions/Technology Launches/Partnerships

In March 2021, The AKKA Group, a European leader in engineering consultancy and R&D services in the mobility sector and Data Science expert is joining forces with the Grenoble-based start-up SYLFEN via its Big Data platform in order to develop the building of the future, self-sufficient in renewable energy.

In May, 2020 Accenture acquired Byte Prophecy, an automated insights and big data analytics company from India. The acquisition will help Accenture meet what it sees as growing demand for enterprise-scale AI and digital analytics solutions across the region. As part of the deal, nearly 50 data science and data engineer experts will join Accenture Applied Intelligence, the global IT consulting firm’s team and service for artificial intelligence, data, analytics and automation.