As per the report by Fortune Business Insights, the global big data analytics market size stood at USD 206.95 Billion in 2020 and is projected to reach USD 549.73 Billion by 2028, exhibiting at a CAGR of 13.2% in the forecast period.
According to market researchers at IDC, worldwide spending on big data and business analytics solutions grew 10.1% in 2021 to total an estimated $215.7 billion.
As per the Gartner, Data fabric reduces time for integration design by 30%, deployment by 30% and maintenance by 70% because the technology designs draw on the ability to use/reuse and combine different data integration styles. Plus, data fabrics can leverage existing skills and technologies from data hubs, data lakes and data warehouses while also introducing new approaches and tools for the future.
A recent Mordor Intelligence report suggests that the self-service BI market will grow at a CAGR of 15.5% by 2026. Based on the increasing demand, it is undeniable that in 2022 companies will continue to adopt self-service Data Analytics solutions to support more fact-based daily decision-making.
A recent Facts and Factors report predicts that the Global Predictive Analytics market will reach USD 22.1 billion by 2026. Predictive analytics is a practical application of Big Data and Business Intelligence. Many organisations are successfully leveraging various Big Data analytics features to forecast potential future trends. This includes utilising oceans of market data, new customers, cloud applications, social media, or product performance data to perform predictive analytics.