According to our latest market study on “BIG Data AnalyticsForecast to 2028 – COVID-19 Impact and Global Analysis – by Component, Analytics Tool, Application, and End Use Industry,” the market is projected to reach US$ 638.66 million by 2028 from US$ 239.75 million in 2021; it is expected to grow at a CAGR of 15.3% from 2022 to 2028.
The rising digital solutions are exponentially growing data across several industries such as education, BFSI, retail, agriculture, healthcare, IT, and telecommunications globally. 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.
Key Players Influencing the Market
- Amazon Web Services
- FICO
- Hewlett Packard Enterprise Development LP
- IBM Corporation
- Microsoft Corporation
- Oracle Corporation
- SAP SE.
- Teradata
- TIBCO Software
- SAS Institute Inc
Impact of COVID-19 Pandemic on APAC Big Data Analytics Market
In 2020, APAC was severely affected by the COVID-19 outbreak. China homes the most significant population worldwide, thereby posing a higher risk of spreading virus infection. According to the Organization for Economic Co-operation and Development (OECD), the COVID-19 pandemic has affected significant economies, such as China, India, Australia, and Japan, and is experiencing low inflation. Further, in 2021, the offices resumed their operations with the release of lockdown restrictions due to the vaccination process.
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Answers that the report acknowledges:
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