The North America big data analytics market is expected to grow from US$ 113.01 million in 2022 to US$ 253.55 million by 2028; it is estimated to grow at a CAGR of 14.4% from 2022 to 2028.
The rising digital solutions are exponentially growing data across several industries, including education, BFSI, retail, agriculture, healthcare, IT, and telecommunications. For example, artificial intelligence (AI) has revolutionized precision farming, risk management, and pest control in the agricultural sector. Big data analytics are used in the agriculture industry to examine large amounts of structured and unstructured data sets, such as natural trends, advanced supply tracks, optimal crops, and risk assessment collected through sensors, smart machinery, GPS-equipped tractors, and soil sensors. Medical companies can still not meet the information needs of patients, physicians, administrators, and policymakers. Big data analytics can enable personalized and precise treatment based on unique data, supplied in real-time and adapted to patients. Further, systems that can quickly learn about the data provided by people in clinical treatment and everyday life must be implemented. This will allow data-driven decision-making and better personalized prognosis and treatment response predictions. Corporations are using bots to modernize and automate their work environments. Furthermore, Amazon Alexa, Apple Siri, Google Assistant, and many virtual assistants generate important data. Technological advancements have boosted the number of social media users in network access and smartphone technologies. Various data sources, such as YouTube videos, Snapchat, Instagram, Facebook, and WhatsApp chats, generate massive amounts of data. As a result of technological advancements in industries, smart applications, and social media platforms, the industrial revolution is predicted to create huge databases. Thus, the growing database across various industries drives the growth of the big data analytics market in North America.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America big data analytics market in the coming years. The market is expected to grow at a good CAGR during the forecast period.
North America Big Data Analytics Market Revenue and Forecast to 2028 (US$ Million)
North America Big Data Analytics Market Segmentation
The North America big data analytics market is segmented on the basis of component, analytics tool, application, end use industry, and country. Based on component, the market is bifurcated into software and services. The software segment dominated the market in 2022, whereas the market for the services segment is expected to grow at a higher rate during the forecast period. Based on analytics tool, the North America big data analytics market is segmented into dashboard and data visualization, data mining and warehousing, self-service tool, reporting, and others. The dashboard and data visualization segment dominated the market in 2022. However, the market for the reporting segment is expected to expand at a faster rate during the forecast period. Based on application, the North America big data analytics market is segmented into customer analytics, supply chain analytics, marketing analytics, pricing analytics, workforce analytics, and others. The customer analytics segment dominated the market in 2022, whereas the market for the pricing analytics segment is expected to grow at a higher rate during the forecast period. Based on end use industry, the North America big data analytics market is segmented into pharmaceutical, semiconductor, battery manufacturing, electronics, and others. The others segment dominated the market in 2022. On the other side, the pharmaceutical segment is expected to grow at a higher rate during the forecast period. Based on country, the North America big data analytics market is segmented into the US, Canada, and Mexico.
Amazon Web Services, FICO, Hewlett Packard Enterprise Development LP (HPE), IBM Corporation, Microsoft Corporation, Oracle Corporation, SAP SE, SAS Institute Inc., Teradata, and TIBCO Software Inc. are among the leading companies in the North America big data analytics market.
1. Amazon Web Services
2. FICO
3. Hewlett Packard Enterprise Development LP (HPE)
4. IBM Corporation
5. Microsoft Corporation
6. Oracle Corporation
7. SAP SE
8. SAS Institute Inc.
9. Teradata
10. TIBCO Software Inc.