Big Data Strengthening The Economy Of Europe

By Goldstein Market Intelligence || 2018-10-16 12:21:02 PM

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Europe Big Data Market

Industry Overview

According to Goldstein Research, “Advances in IT technologies, the growing use of electronic devices and networks, and the digitalization of industrial processes have significantly generated a vast amount of data by economic and social activities which can be transmitted, accumulated and analyzed to provide vital insights into processes and human behaviors.” Moreover, corporations that implement big data analytics can upsurge productivity by 5%- 10% more than businesses that do not, and big data practices in Europe could add up to 2.1% to GDP between 2016 and 2020.

Europe Big Data Market Outlook 2024

The Europe Big Data Market is segmented based on components, by applications, and by end users. End users are further bifurcated into banking & finance, transportation &logistics, aerospace and defense, IT & telecommunication, healthcare, energy & utilities, and manufacturing. Banking & finance sector holds the major market share of big data in Europe and shows great potential for future expenditure on big data and business analytics. 

Goldstein Research predicted that in 2024,  Europe holds the second largest share in the global big data market and it is expected to grow at a CAGR of 19.1 % during the forecast period 2016-2024. Where The Asia-Pacific industry is the fastest growing region for Big Data Industry

Browse Full Report: Europe Big Data Market

Western Europe is the largest region for big data market in 2016 and is expected to dominate the Europe big data market during the forecast period of 2016-2024. Germany is currently the forerunner of this new advanced technology and the major market in Europe for big data analytics. Moreover, the average expenditure on big data analytics per company is highest in Germany, and it is only expected to grow during the forecast period.

Technology Market Drivers

Cloud computing infrastructures have made it appropriate for people to exploit big data technology due to its rapid integration in systems. Technology is swiftly shifting and the landscape changes earlier than expected these days. This rapid change is supplemented with more access and availability to data and makes data analysis easier. European companies are eyeing big data technology to be a new source for developmental growth. Huge amounts of data are left unused every day and this situation opens opportunities for solutions and services that specialize in big technology

“Europe Big Data Market Outlook 2024” contains a detailed overview of the Europe big data market in terms of market segmentation by components, by applications, and by end users.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.

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Europe Big Data Market Report also provides the competitive outlook of some of the major players which includes profiling of companies such as IBM Corporation, Oracle Corporation, Amazon Web Services, Microsoft Corporation, Splunk Incorporated, Intel Corporation, TIBCO Software Inc.etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services, and industries catered, financial analysis of the company and recent developments.

Overall, the report represents comprehensive synopsis on the Europe big data market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.

 

Browse Similar Report

Browse The latest published report on  Big Data Analytics in Healthcare Industry. The report covers the present ground scenario and the future growth prospects of the big data analytics in the healthcare industry for 2017-2025 along with the market players’ analysis.