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Big Data Analytics Market to Grow to $40.6 Billion by 2023

December 23, 2018 / insideBIGDATA

Big data analytics is an in-demand industry that shows no signs of slowing. The big data analytics industry will reach a global market worth of $40.6 billion by 2023, according to information from ResearchandMarkets.com. It shows a combined annual growth rate (CAGR) of 29.7 percent from 2017 until then. Here are some of the exceptionally prominent aspects motivating the industry’s projected success: The Asia-Pacific Market Is Showing Particular Interest in Big Data. A growth projection report from IDC about big data analytics in the Asia-Pacific (APAC) market indicated the appeal of big data is particularly evident in that region. It found that area of the world will be a significant driver in future growth. The report says that big data revenue in the APAC revenue will get to $15.1 billion by 2022, and it also expects the largest businesses to account for almost half the market share during the forecast period.