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(IT-NEWSWIRE.COM, January 21, 2019 ) According to a new market research report "Big Data and Data Engineering Services Market by Service Type (Data Modeling, Data Integration, Data Quality, Analytics), Business Function (Marketing and Sales, Operations, Finance), Organization Size, Industry, and Region - Global Forecast to 2023", published by MarketsandMarkets™, the global big data and data engineering services market size is expected to grow from USD 34.47 billion in 2018 to USD 77.37 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 17.6% during the forecast period.
Big data and data engineering services help organizations streamline their business processes by capturing and interpreting business data. They enable organizations to gain insights and shift to reliable and fast decision-making process.
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69 - Tables
42 - Figures
148 - Pages
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Marketing and sales business function is expected to grow at the highest CAGR
Big data and data engineering services are used for various business functions, including marketing and sales, finance, operations, and Human Resource (HR). The marketing and sales business function is expected to grow at the highest CAGR during the forecast period, owing to an increasing need for marketing and sales departments to monitor and analyze the various marketing and sales data for gaining insights on customer acquisition and retainment.
Retail and eCommerce industry vertical is expected to grow at the highest rate during the forecast period
Big data and data engineering services have been used across industry verticals, including Banking, Financial Services, and Insurance (BFSI); retail and eCommerce; manufacturing; healthcare and life sciences; media and telecom; government; and others (travel and hospitality, transportation and logistics, and energy and utilities). The retail and eCommerce vertical is expected to grow at the highest CAGR during the forecast period, owing to an increasing need for managing the growing data from various customers, maintaining their records, and analyzing data to gain insights.
North America is expected to dominate the global big data and data engineering services market during the forecast period
North America is expected to hold the largest size in the big data and data engineering services market in 2018, due to the technological advancements and early adoption of big data and data engineering services in the region. The market size in Asia Pacific (APAC), on the other hand, is expected to grow at the highest CAGR from 2018 to 2023. Major growth drivers for the market are the increasing big data adoption and significant opportunities in major APAC countries, such as India, China, and Japan.
The report also covers different strategies, such as acquisitions, partnerships, new product launches, and product upgradations, adopted by the major players to increase their market shares. Major technology vendors include Accenture (Ireland), Genpact (US), Cognizant (US), Infosys (India), Capgemini (France), NTT DATA (Japan), Mphasis (India), L&T Technology Services (India), Hexaware (India), Happiest Minds (India), KPMG (Netherlands), EY (UK), Tiger Analytics (US), LatentView Analytics (US), InfoStretch (US), Vensai Technologies (India), Course5 (US), Sigmoid (US), Nous Infosystems (India), Bodhtree (US), Hidden Brains InfoTech (India), Brillio (US), Franz Inc. (US), BRIDGEi2i (India), and Trianz (US).
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
MarketsandMarkets
Mr. Shelly Singh
1-888-600-6441
sales@marketsandmarkets.com
Source: EmailWire.Com 
Source: EmailWire.com
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