Big Data and Data Engineering Services Market Scope
Over the past few years, the increasing need for analyzing huge scales of data, data engineering services have come into view with data science Data has become the fuel for organizations to deliver precise business choices at lightning speed. Big data and data engineering services deal with preparing and managing data for business analysis. The data engineers are responsible for all data analytics and handle facts that later used by data scientists to turn into AI models, by managing, finding, establishing, organization data. In addition, it offers services such as reviewing data, analyzing data, cleaning, processing, transforming data into usable formats for model development. According to the research through the end of 2024, 75% of enterprises will shift from piloting to operationalizing AI, pouring a 5X add to in streaming data and analytics infrastructures. Digital transformation projects in a proposal to transform their conventional organizations into an information-driven marvel Are booming the demand for big data and data engineering services demand in the market.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Big Data and Data Engineering Services market throughout the predicted period.
L&T Technology Services (India), BRIDGEi2i (India), Trianz (United States), KPMG (Netherlands), Hidden Brains InfoTech (India), EY (United Kingdom), Tiger Analytics (United States), Accenture (Ireland), Infosystems (India), Capgemini (France) and Cognizant (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Brillio (United States), Franz Inc. (United States) and Bodhtree (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Big Data and Data Engineering Services market , by Application (BFSI, Retail and eCommerce, Healthcare and Life Sciences, Manufacturing, Government and Others (Transportation and Logistics, Energy and Utilities, Others)) and Region with country level break-up.
On the basis of geography, the market of Big Data and Data Engineering Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
On August 2020 Ireland based company Accenture announced their acquisition with Byte Prophecy to Enhance Digital Analytics Capabilities and AI in Emerging Markets. This acquisition will help to speed up and agility of delivering advanced analytics and AI solutions to Organizations.
Market Trend
- The emergence of analytics technologies like machine learning (ML) and technologies to improve your AI and ML initiatives is in demand
Market Drivers
- The increasing unstructured data volume due to the phenomenal is a key driving factor is booming the market growth
- Growing Need for Adhering to Regulatory and Compliance Requirements
Opportunities
- Increasing data volume in small and medium-sized enterprises and companies become increasingly modern in their utilization of information is booming the data engineering as it will turn into a greater need and more individuals are creating the opportunities of growth.
Restraints
- Privacy and Security Concerns
Challenges
- The complexity of maintaining Data pipeline
- Lack Of Ability Of Service Providers To Provide Real-Time Insights May Limit
Key Target Audience
Big Data and Data Engineering Services Providers, Big Data and Data Engineering Services Solution vendors, Original Equipment Manufacturers (OEMs), System integrators, Advisory firms, National regulatory authorities, Venture capitalists, Private equity groups, Investment houses and Equity research firms