Projections Indicate the Market for Big Data Softw
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Posted On: 01/13/2025 4:52:28 PM
Projections Indicate the Market for Big Data Software is Exploding
Demand for big data software is expected to surge in the coming years as more firms leverage big data analytics to improve service delivery and increase efficiency. Recent forecasts show that the global Big Data Processing and Distribution Software market will enjoy a compound annual growth rate (CAGR) of 12.08% between 2024 and 2031.
The market’s 2024 valuation of around $10.53 billion is set to double over the projected period and reach $20.87 billion when the decade draws to a close. While companies have used data analytics to optimize their operations and boost revenue for well over a decade, the switch to online commerce coupled with the recent deployment of artificial intelligence (AI), machine learning, and generative AI has allowed firms to analyze vast data sets.
With the big data software market projected to surge over the next 7 years, there is a significant need for effective and efficient data management strategies in several industries. Industries like healthcare, finance, and retail that typically collect customer data in their usual operations are already dealing with a massive surge in the variety and volume of data they need to analyze and are turning to big data software to handle the analysis speedily and efficiently.
These sectors are leading the charge in using big data analytics software, scaling up their data operations, improving their analytical predictions, and improving customer engagement. Demand for big data software across various industries has also been driven by the pressing need for robust data governing standards and real-time data processing.
The Big Data Processing and Distribution Software market has seen a growing number of innovations in regulatory and computing compliance to fill this need, promoting companies across several industries to invest in increasingly sophisticated data analytics and processing tools, spurring the market’s growth even further.
The market will remain integral to the industry as a decision-making tool as the amount and variety of data that companies collect expands. Machine learning and artificial intelligence will play a notable role in the market’s expansion as they will allow companies to gain insights from gargantuan data sets. Cloud computing will also play a role in the growth of the Big Data Processing and Distribution Software market.
More companies are expected to shift large portions of their operations to cloud computing as they seek to lower the expenses associated with physical hardware, making it easier for them to incorporate big data software into their operations.
Enterprises like FingerMotion Inc. (NASDAQ: FNGR) that provide Big Data analytics services are poised to benefit from the growing demand for services geared at helping firms to leverage the huge amounts of data available today.
NOTE TO INVESTORS: The latest news and updates relating to FingerMotion Inc. (NASDAQ: FNGR) are available in the company’s newsroom at https://ibn.fm/FNGR
Please see full terms of use and disclaimers on the ChineseWire website applicable to all content provided by CW, wherever published or re-published: https://www.ChineseWire.com/Disclaimer
Demand for big data software is expected to surge in the coming years as more firms leverage big data analytics to improve service delivery and increase efficiency. Recent forecasts show that the global Big Data Processing and Distribution Software market will enjoy a compound annual growth rate (CAGR) of 12.08% between 2024 and 2031.
The market’s 2024 valuation of around $10.53 billion is set to double over the projected period and reach $20.87 billion when the decade draws to a close. While companies have used data analytics to optimize their operations and boost revenue for well over a decade, the switch to online commerce coupled with the recent deployment of artificial intelligence (AI), machine learning, and generative AI has allowed firms to analyze vast data sets.
With the big data software market projected to surge over the next 7 years, there is a significant need for effective and efficient data management strategies in several industries. Industries like healthcare, finance, and retail that typically collect customer data in their usual operations are already dealing with a massive surge in the variety and volume of data they need to analyze and are turning to big data software to handle the analysis speedily and efficiently.
These sectors are leading the charge in using big data analytics software, scaling up their data operations, improving their analytical predictions, and improving customer engagement. Demand for big data software across various industries has also been driven by the pressing need for robust data governing standards and real-time data processing.
The Big Data Processing and Distribution Software market has seen a growing number of innovations in regulatory and computing compliance to fill this need, promoting companies across several industries to invest in increasingly sophisticated data analytics and processing tools, spurring the market’s growth even further.
The market will remain integral to the industry as a decision-making tool as the amount and variety of data that companies collect expands. Machine learning and artificial intelligence will play a notable role in the market’s expansion as they will allow companies to gain insights from gargantuan data sets. Cloud computing will also play a role in the growth of the Big Data Processing and Distribution Software market.
More companies are expected to shift large portions of their operations to cloud computing as they seek to lower the expenses associated with physical hardware, making it easier for them to incorporate big data software into their operations.
Enterprises like FingerMotion Inc. (NASDAQ: FNGR) that provide Big Data analytics services are poised to benefit from the growing demand for services geared at helping firms to leverage the huge amounts of data available today.
NOTE TO INVESTORS: The latest news and updates relating to FingerMotion Inc. (NASDAQ: FNGR) are available in the company’s newsroom at https://ibn.fm/FNGR
Please see full terms of use and disclaimers on the ChineseWire website applicable to all content provided by CW, wherever published or re-published: https://www.ChineseWire.com/Disclaimer
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