The Global Big Data and Data Engineering Services market is forecast to reach USD 144.12 Billion by 2026, according to a new report by Reports and Data.
New York City, United States – May 19, 2020 /MarketersMedia/ —
The ‘Big Data and Data Engineering Services market’ study offers an extensive analysis of the trends observed in the growth against the global setting. This report delivers conclusive information relating to various aspects of the market viz. the commercial applications, size of the industry and speculated profit margin over the planned timeline. It also demonstrates the competitive landscape with an emphasis on the leading producers in the forecast years, highlighting their product portfolios and regional business ventures. The market for Big Data and Data Engineering Services is influenced by the rising demand for social media applications, as well as in banking firms where the analytics are utilized for the calculative purposes. Retail and eCommerce also dwells in the area of big data where heavy data flow and analysis occurs every day. These pose as major drivers for the big data and data engineering market.
This report covers the current COVID-19 effects on the economy. This outbreak has brought along drastic changes in world economic situations. The current scenario of the ever-evolving business sector and present and future appraisal of the effects are covered in the report as well.
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The population of Asia Pacific has been shifting towards the youth, and the utilization of Internet of Things is also increasing corresponding to the increasing use of retail as well as IT sectors. Most of the developing countries are looking at India and China as the global market leaders. The booming economic growth of the eCommerce vendors with the development of social media is also driving the market growth for big data and data engineering services.
Companies considered and profiled in this market study
Accenture, Genpact, Cognizant, Infosys, Capgemini, NTT DATA, Mphasis, L&T Technology Services, Hexaware, and Happiest Minds, among others.
The companies have adopted various strategies, including mergers, acquisitions, and partnerships to hold ongoing trails and come up with new developments in the market.
For the purpose of this report, Reports and Data have segmented into the global Big Data and Data Engineering Services market on the basis of service type, application type, end-users, and region:
Service Type Outlook (Revenue, USD Billion; 2016-2026)
• Data Modeling
• Data Integration
• Data Quality
Application Type Outlook (Revenue, USD Billion; 2016-2026)
• Marketing and Sales
End-Users Outlook (Revenue, USD Billion; 2016-2026)
• Media and Telecom
• Retail and Ecommerce
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Further key findings from the report suggest
• Among service types, the data integration services section is likely to attain the highest CAGR of 21.8% during the forecast period, owing to an escalation in need for integrating data from diverse data sources across businesses. Integration begins with the imbibing process and involves steps such as cleansing, extraction, transformation, load (ETL) mapping, and transformation.
• The increase in the demand for sales department and marketing to examine and monitor various sales and marketing data for gaining insights on retainment and consumer acquisition. This agent is anticipated to drive the growth of the marketing and sales business sector during the forecast period. The marketing and sales segment held a market share of 29.2% in the year 2018.
• The retail and eCommerce section is expected to experience the highest CAGR of 22.8% during the forecast period, due to an increasing requirement for managing the growing data requirements from various customers, maintaining their records, and analyzing data to obtain insights.
Regional Outlook (Revenue, USD Billion; 2017-2027)
• North America
• Asia Pacific
• Latin America
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