Big Data Solutions

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Big Data Solutions Industry Benchmarks

Savings Achieved

(in %)

The average annual savings achieved in Big Data Solutions category is 7.10%

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(in days)

The industry average payment terms in Big Data Solutions category for the current quarter is 75.0 days

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    Big Data Solutions market report transcript

    Global Market Outlook on Big Data Solutions

    • The global big data market is expected to grow at a CAGR of 26.8 percent, reaching $314.6  billion by 2025. The big data market spending will strengthen over the next five years, as the economy recovers from the pandemic

    • The North American region is expected to dominate the market during the forecast period, in terms of revenue, but the Asia Pacific market is expected to see a significant growth, due to an increase in the usage of smart devices across countries.

    • In 2022, 96% of companies intend to hire new employees with relevant skills to fill future big data analytics roles.

    Demand Market Outlook

    • North America contributes to the major part of the big data market, with approximately $104.3 billion*, in terms of revenue

    • The APAC region shows the highest growth rate of about 20–22 percent, due to an increase in adoption of consumer insights to drive business, and the Latin American region shows the slowest growth rate of about 8–10 percent

    Market Trends: Big Data (Qualitative)

    In-Memory Computing

    • In-memory computing helps organizations to identify patterns rapidly from huge amount of data with ease

    • Reduction in memory cost is the main advantage

    The Growth of Data Fabric Technology

    • Data Fabric Technology helps to easily store, retrieve data sets across distributed on-premises, cloud, and hybrid network infrastructure

    • Technology reduces the challenge in accessing and securing data in a distributed network environment

    Big Data Analytics on the cloud

    • Big Data cloud computing offers faster computing and affordable Big Data analytics solution

    • Most of the Big Data suppliers are providing cloud Big Data solutions to serve their customers

    • Multi-cloud or hybrid cloud deployments are the latest trends in the market

    Data Mesh in Data Management

    • Data mesh will be the defining pattern for next generation data excellence and management. Main goal of data mesh is to simplify the way in which data is presented to the consumers

    AI/ML: Powered Automation

    • Continuous growth of Big Data input for AI/ML solutions engaged to see more predictive and real-time analytics possibilities from workflow automation to customer service chatbots

    Big Data Drivers and Constraints


    Increased data volumes

    • Everyday the volume of big data creation amounts to 2.4 quintillion bytes. By 2020, the amount of data generated is expected to reach 40ZB (zettabyte i.e. 270 bytes)

    • With the exponential growth in the volume, variety and velocity of data, there is a need for advanced data blending and analytics to derive actionable insights

    Data warehouse optimization

    • Determine what data should be moved to the warehouse and offload obsolete data or less frequently used data from warehouse and databases using different big data software and tools, which results in data warehouse optimization

    Demand for integration

    • Dealing with different types of data (both structured and unstructured) and integrating them requires Big data technologies

    • It is observed that real time integration leads to significant increase in ROI, particularly in a business where there is a large end consumer base


    Data Security

    • Ensure Big Data Solution vendors comply with General IT Governance Standards (ITIL), standards specific to country and industry (HIPAA) and ISO/IEC 27000-series

    Multiple products

    • Multiple vendors offering multiple products in the market. It is often confusing what to choose, due to lack of best practices

    Increasing costs

    • Rising demand and growing operation costs results in price increase which acts as a constraint in this market

    Porter's Five Forces Analysis – Big data Industry

    Supplier Power

    • The big data market is highly fragmented. Hence the supplier power is low

    • Big data has a high supplier base, ranging from global to regional vendors, who can cater to specific business needs

    Buyer Power

    • The bargaining power of buyer is high since plethora of global and local suppliers operate along with start-ups to choose from

    Barriers to New Entrants

    • Big data market has low barriers to entry due to low CAPEX and high availability of skilled workforce (especially the young data scientist engineers)

    Intensity of Rivalry

    • Intense competitive rivalry exists as the vendors are competing to establish product and service differentiation and competitive advantage in the marketplace by providing data scheduling, warehousing, cleansing, analytics, consulting, managed services, support and training etc.

    Threat of Substitutes

    • Threat for substitution is low in Big data market as it is cost-prohibitive for businesses to create their own infrastructure

    • It is much cheaper to outsource the analytical and visualization software for big data

    Pricing Models – Big Data Implementation

    • To start with, buyers can go with fixed price contract, and can gradually move towards outcome based or transaction-based contracts, based on buyer's maturity. Almost 80 percent of the contracts signed are based on fixed price

    • Cost of application maintenance is not based on the application size, rather it is based on the level of support required, incident volume, volume of defects, number of users, number of interfaces and number of transactions

    • Enterprises should be flexible in choosing an appropriate pricing model from phase to phase

    • E.g. contract can be structured as Time & Material for blueprinting phase and fixed fee for realisation, pilot and deployment phase

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