Big Data Analytics Among Top Three Deployment Priorities for Enterprises
Increasing BDA investment in disaster preparedness, operational management, and diagnostic use cases will unfold exponential growth
SANTA CLARA, Calif — Frost & Sullivan’s recent Post-Pandemic Growth Opportunity Analysis of the Big Data Analytics (BDA) Market report predicts double-digit growth. Under an aspirational forecast scenario, which assumes COVID-19 is contained by August 2020 and that global markets will be able to recover by the end of the year, the market is expected to expand at a compound annual growth rate (CAGR) of 28.9%, reaching $68.09 billion by 2025 from $14.85 billion in 2019. Under the conservative forecast scenario, the market is likely to reach $41.84 billion by 2025, at a CAGR of 18.8%. Depending on the development and availability of a vaccine, the conservative forecast includes a market slowdown and recovery period of 18 to 24 months.
“BDA use will continue to grow because it is currently being utilized to manage, diagnose, and develop a cure for COVID-19,” said Deviki Gupta, information and communication technologies senior industry analyst at Frost & Sullivan. “Additionally, considering the benefits of BDA solutions in both the government and intelligence (G&I) and non-governmental organization (NGO) sectors, there will be an increase in demand for analytics as it has promising features, such as mitigating risk in business planning, improving operations, and better serving customer needs.