Europe Big Data Market Report and Forecast 2024-2032

Europe Big Data Market Size

The Europe big data market reached USD 120.69 billion in 2023. The market is expected to grow at a CAGR of 10.1% between 2024 and 2032, reaching USD 286.21 billion by 2032.

Europe Big Data Market Outlook

• As per estimates by the International Trade Administration, 2023 revenues of Italian manufacturing companies reached a record EUR 1.16 billion.

• As per Statistics Canada, in France, the size of the digital market reached an estimated EUR 66.2 billion in 2023.

• The growing number of data generated in the region is stimulating the demand for big data analytics solutions.

Europe Big Data Market Growth

Growth in the Europe big data market is boosted by marketing and sales business functions.

Marketing and sales departments rely on big data to delve into consumer behaviour, preferences, and purchasing trends. Analysis of big data helps companies tailor marketing campaigns to specific demographics thus increasing engagement and conversions. Big data analytics also may help refine sales forecasts, enabling precise inventory management and resource allocation.

In a world that is increasingly dependent on data-driven decision-making, big data plays a crucial role. The big data market in Europe is likely to see growth owing to ever-increasing uses of data. As of May 2021, the World Health Organization (WHO) claimed that analytics in big data has the potential to transform healthcare. Improving decision-making and enhancing patient-centric health care are only a few examples of what it is capable of.

Big data analytics revolutionized financial practices. Advanced analytics techniques help with financial forecasts, risk management, and fraud detection. It facilitates informed decision-making and risk mitigation. Accurate reporting benefits compliance management and regulatory adherence. Data-driven insights are important for cost optimization, identifying inefficiencies and bolstering financial performance.

Europe Big Data Market Segmentation

Europe Big Data Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Offerings

• Software
  • Big Data Analytics Software  
  • Data Management Software  
  • Data Mining Software  
  • Data Visualisation Software 
• Services

Market Breakup by Business Function

• Marketing and Sales

• Human Resources

• Operation

• Finance and Accounting

• Others

Market Breakup by Deployment Mode

• Cloud

• On-premise

Market Breakup by Industry Vertical

• BFSI

• Telecommunication

• Retail and Consumer Goods

• Healthcare and Life Sciences

• Government and Defense

• Automotive

• Manufacturing

• Transportation and Logistics

• Others

Market Breakup by Country

• Germany

• United Kingdom

• France

• Italy

• Others

Europe Big Data Market Share

Telecommunication companies lead growth in the big data market in the domestic region owing to the use of big data for functions like improving service quality, predicting churn rates, segmenting customers and network optimization. Insights from big data also help with identifying high-value customers, enhancing cybersecurity and detecting and preventing network outages among many other diverse functions.

Leading Companies in the Europe Big Data Market

The report provides a detailed analysis of the following key players in the market, covering their competitive landscape and the latest developments like mergers and acquisitions, investments, and capacity expansion.

• IBM Corporation

• Oracle Corporation

• SAP SE

• Microsoft Corporation

• Amazon Web Services, Inc.

• Google LLC

• Dell Inc.

• Broadcom Inc.

• Hewlett Packard Enterprise Development LP

• Teradata Corporation

• Others

Major market players are expanding their outreach through investments in the integration of machine learning and artificial intelligence capabilities along with the adoption of cloud-based big data solutions and real-time analytics for quicker insights.

Key Highlights of the Report