North America Big Data and Business Analytics Market Report and Forecast 2024-2032

North America Big Data and Business Analytics Market Outlook

The North America big data and business analytics market size reached approximately USD 109.34 billion in 2023. The market is further projected to grow at a CAGR of 6.9% between 2024 and 2032, reaching a value of USD 202.31 billion by 2032.

Key Trends in the Market

Big data analytics refers to the process of analysing, collecting, and processing large amounts of data for discovering market patterns, insights, and trends, among others, to aid companies in making better business decisions. The information is available in an efficient and quick manner, allowing companies to craft plans and establish competitive dominance.

• The rising adoption of digital solution across different industry verticals is boosting the North America big data and business analytics market growth. The increasing utilisation of big data and business analytics across agriculture sector is supporting the analysis of large data sets, prediction of natural trends, and advanced risk assessment.

• The growing investments by various businesses towards enhanced risk management is supporting the market expansion. Big data tools aid in boosting the predictive power of risk models, offering extensive risk coverage, and enhancement of system effectiveness and response time.

• The integration of machine learning and artificial intelligence with big data and business analytics is providing lucrative growth opportunities to the market. Machine learning and artificial intelligence support predictive modelling, advanced data analysis, and pattern recognition, to aid organisations in taking data-driven and actionable actions.

North America Big Data and Business Analytics Market Analysis

On the basis of component, the market is bifurcated into solution and services. Based on deployment mode, the market is classified into on premises and cloud. On the basis of analytics tool, the market is segregated into dashboard and data visualisation, self-service tools, data mining and warehousing, and reporting, among others.

Based on application, the market is categorised into supply chain analytics, customer management, spatial analytics, pricing analytics, marketing analytics, workforce analytics, risk and credit analytics, and transportation analytics.

On the basis of industry vertical, the market is divided into BFSI, manufacturing, government, healthcare, IT and telecommunication, transportation, and retail and e-commerce, among others. Based on country, the North America big data and business analytics market segmentation includes United States of America and Canada.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.\

• IBM Corp.

• Hewlett Packard Enterprise Development LP

• Microsoft Corp.

• Oracle Corp.

• Broadcom Inc.

• SAP SE

• SAS Institute Inc.

• Teradata Corp.

• TIBCO Software Inc.

• Fair Isaac Corp.

• Others

Market Share by Analytical Tools

Dashboard and data visualisation is anticipated to account for a significant North America big data and business analytics market share over the forecast period. This growth can be attributed to the ability of the analytical tools to manage unused and unstructured data to help different organisations to extract meaningful information from a rapidly growing set of business data. The increasing frequency of fraudulent activities across different social media platforms is further supporting the segment growth.

Market Share by Industry Vertical

Big data and business analytics allows different BFSI institutions to obtain comprehensive knowledge of advertising channels, products and services, industry regulations, and customers, among others. The utilisation of big data analytic tools is also increasing for enhancing analysis and processing of massive datasets for prediction of fraudulent activities and identification of patterns. The North America big data and business analytics market demand is also increasing for analysing, tracking, and monitoring performance metrics of the employees.

Competitive Landscape

IBM Corp. is one of the leading IT services and consulting companies that specialises in big data and business analytics, resiliency services, industrial solutions, and technology support, among others. The company was founded in 1911 and is headquartered in New York, United States.

Hewlett Packard Enterprise Development LP operates through four segments, that include corporate investments, hybrid IT, financial services, and intelligent edge. The company was founded in 1939 and is headquartered in Texas, United States.

Microsoft Corp. is one of the leading software development companies that specialises in cloud computing, business analytics, artificial intelligence, windows operating system, and machine learning, among others. The company was founded in 1975 and is headquartered in Washington, United States.

Other North America big data and business analytics market key players include Oracle Corp., Broadcom Inc., SAP SE, SAS Institute Inc., Teradata Corp., TIBCO Software Inc., and Fair Isaac Corp., among others.

Key Highlights of the Report