Big Data and Data Engineering Services Market Size – USD 31.31 Billion in 2018, Big Data and Data Engineering Services Market Growth – CAGR of 20.9%
NEW YORK CITY, NEW YORK, UNITED STATES, March 24, 2020 /EINPresswire.com/ — 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. The big data is a term that represented the large volume of data where it can be both structured and unstructured data, which are mounted for information. This large volume of data generate from different sources, mainly from marketing sales records or real-time sensor from IoT (Internet of Things). All the data are preprocessed by utilizing software tools. In big data, the data analysts totally emphasis on employment and harvesting of data. They are specialists in programming, database design, interface, and sensor configuration. Nowadays, data engineering registers into the autonomous vehicle design and configure in servos and exact control mechanism in self-driving vehicles. The big data and data engineering solutions are often applicable in GPS for information, cameras, and motion-sensing devices.
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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.
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.
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.
• Asia Pacific region is expected to experience the highest CAGR of 21.5% in the big data and data engineering services market owing to the increasing utilization of big data technologies by the IT sectors, and government initiatives, such as smart cities in the APAC countries, including China and India which are being looked upon as the market leaders.
• Key participants are Accenture, Genpact, Cognizant, Infosys, Capgemini, NTT DATA, Mphasis, L&T Technology Services, Hexaware, and Happiest Minds, among others.
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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
Regional Outlook (Revenue, USD Billion; 2016-2026)
• North America
• Asia Pacific
• Latin America
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Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power, and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
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Source: EIN Presswire