Europe Big Data and Business Analytics Market Statistics: 2027
The Europe big data and business analytics market size was valued at $44.21 billion in 2018 and is projected to reach $105.82 billion by 2027, growing at a CAGR of 11.5% from 2020 to 2027. Big data analytics system enables businesses and enterprises to improve their decision-making capability and to process, manage, and streamline massive volume of data in real time. In addition, it facilitates organizations to improve their operational efficiency and plan more effective marketing strategies to boost their revenue. Furthermore, many IT & telecom industries are investing heavily in big data analytics to analyze increasing volume of unstructured data for improving customer service facility. In addition, various organizations in different sector such as BFSI, manufacturing, and retail & e-commerce are adopting big data analytics to analyze massive volume of data generated due to offline and online trading. Moreover, with the introduction of cloud-based big data and business analytics, users can access all the information online from anywhere across the globe. This helps various big data service providers to increase their investment in cloud technology and have a competitive edge over other service providers.
Increase in adoption of big data analytics software by various organizations to deliver enhanced & faster decision-making and to provide competitive advantage by analyzing and acting upon information in a timely manner significantly contributes toward the growth of the Europe big data and business analytics market. In addition, surge in demand for cloud-based big data analytics software among small & medium enterprises positively impacts the Europe big data and business analytics growth. However, high implementation cost and dearth of skilled workforce are expected to hamper the market growth in Europe. On the contrary, increase in need to gain better insights for business planning and emerging trends such as social media analytics are expected to offer remunerative opportunities for the expansion of the market during the forecast period. Each of these factors is projected to have a definite impact on the growth of the Europe big data and business analytics market.
The dashboard & data visualization tools segment is expected to garner a significant share during the forecast period. This is attributed to rise in adoption of data visualization tools in various organizations to extract report from a diverse and rapidly growing volume of business. However, the data mining segment is expected to grow at the highest rate during the forecast period, owing to rise in demand for column-oriented data mining solutions among organizations to structure data collected from numerous sources and to analyzed for supporting various decision-making process of the organizations.
By Component
Software is projected as one of the most lucrative segments.
The customer analytics segment is expected to garner a significant share during the forecast period, owing to increase in competition among the key players to provide enhanced customer satisfaction and personalized experience. However, the risk & credit analytics segment is expected to grow at the highest rate during the forecast period, due to increase in complexities in business process and rise in business process automation.
The report focuses on the growth prospects, restraints, and trends of the Europe big data and business analytics market analysis. The study provides Porter’s five forces analysis to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the Europe big data and business analytics market.
By Deployment Model
On-Premise is projected as one of the most lucrative segments.
Segment review
The Europe big data and business analytics market is segmented into component, deployment model, analytics tools, application, end user, and country. In terms of component, the market is fragmented into hardware, software, and services. Depending on deployment model, it is bifurcated into on-premise and cloud. As per analytics tools, it is categorized into dashboard & data visualization, data mining & warehousing, self-service tools, reporting, and others. The applications covered in the study include customer analytics, supply chain analytics, marketing analytics, pricing analytics, spatial analytics, workforce analytics, risk & credit analytics, and transportation analytics. As per end user, the market is segregated into manufacturing, BFSI, healthcare, government, energy & utilities, transportation, retail & e-commerce, IT & telecom, education, and others. Country wise, it is analyzed across UK, Germany, France, Austria, Switzerland, and rest of Europe.
By Analytics Tool
Dashboard & Data Visualization is projected as one of the most lucrative segments.
The key players profiled in the Europe big data and business analytics market analysis are Amazon Web Services, Fair Isaac Corporation, IBM Corporation, Microsoft Corporation, Oracle Corporation, Hewlett Packard Enterprise Development LP, SAP SE, SAS Institute Inc., TIBCO Software Inc., and Teradata Corporation. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
By Application
Risk & Credit Segment would exhibit the highest CAGR of 15.8% during 2020-2027.
COVID-19 impact analysis:
The Europe big data and business analytics market has witnessed significant growth in past few years; however, due to the outbreak of the COVID-19 pandemic, the market is projected to witness a sudden downfall in 2020. This is attributed to implementation of lockdown by governments in majority of the countries and the shutdown of travel across the world to prevent the transmission of virus. The big data and business analytics market is projected to prosper in the upcoming years after the recovery from the COVID-19 pandemic. Various organizations across the Europe have initiated work-from-home culture for their employee, which is creating demand for the cloud-based big data analytics to manage critical information of organizations, thus, creating lucrative opportunity for the market.
Top impacting factors
Surge in demand for cloud-based big data analytics software among SMEs
Increase in availability of economic data centers managed and delivered by various different cloud vendors has brought down the costs of upfront investment for small- and medium-sized businesses, thereby reducing the market entry barrier. This has led to increase in demand for cloud-based big data analytics software among small- & medium-sized enterprises. For instance, Oracle Corporation, one of the key players of the market, mentioned that 75% of its 400K+ customers are small- to medium-sized businesses, which is anticipated to create potential growth opportunities for the Europe big data and business analytics market. Furthermore, cloud services have solved the complexity of storing and accessing data for companies to simplify the use of their big data analytics solutions. By using cloud-based big data analytics, organizations can store all their data in a single platform, which provides same information to all the sources at a same time by reducing the investment cost in different sources for every device. This data can be used anywhere, anytime. Several end users such as banking, financial services, and insurance (BFSI), retail, healthcare, manufacturing, telecommunication & IT, and media & entertainment adopt cloud services at a rapid pace, which, in turn, boosts the demand for big data and business analytics, thereby augmenting the growth of the market.
By End User
BFSI segment is projected as one of the most lucrative segments.
Numerous benefits provided by big data and business analytics solutions
Ability of big data analytics software to deliver better and faster decision-making and to provide competitive advantage by analyzing & acting upon information in a timely manner propels the growth of the market. In addition, the demand for big data analytics software is continuously increasing, owing to the benefits offered such as easy access to vital business metrics, useful insight on customer behavior, increased revenue, and improved efficiency of the organizations for faster data processing to gain valuable insights. Furthermore, companies are adopting big data and business analytics for real-time forecasting and monitoring of various occasions such as error detection, security breaches, and other attacks that may affect the performance of the organizations. In addition, ability of the solution to mitigate risks by optimizing complex decisions about unplanned events such as cyberattacks and other crisis more quickly propels the growth of the big data and business analytics market.
By Country
Austria would exhibit the highest CAGR of 14.2% during 2020-2027.
Key Benefits for Stakeholders:
- The study provides an in-depth analysis of the Europe big data and business analytics market forecast along with the current & future trends to elucidate the imminent investment pockets.
- Information about key drivers, restraints, and opportunities and their impact analysis on the Europe big data and business analytics market size is provided in the report.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
- The quantitative analysis of the market from 2019 to 2027 is provided to determine the market potential.
Europe Big Data and Business Analytics Market Report Highlights
| Aspects | Details |
 By Component |
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 By Deployment Mode |
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 By Analytics Tools |
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 By Application |
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 By End User |
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 By Country |
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 Key Market Players | MICROSOFT CORPORATION, SAS INSTITUTE INC., AMAZON WEB SERVICES, INC., FAIR ISAAC CORPORATION, SAP SE, HEWLETT PACKARD ENTERPRISE DEVELOPMENT LP, TERADATA CORPORATION, TIBCO SOFTWARE INC., INTERNATIONAL BUSINESS MACHINES CORPORATION, ORACLE CORPORATION |
Analyst Review
The adoption of big data and business analytics software has increased over the time to boost the decision-making capability of the organizations and improve the business insights. In addition, the ability of the big data analytics software to provide different opportunities for business and gain new insights to run the business efficiently is increasing its popularity among end users. Furthermore, many banking and manufacturing industries are investing in big data analytics to increase security and reduce compliances issues in organizations.
According to the CXOs of the leading companies, increase in economic strength of nations such as Austria, Poland, Italy, and Spain are expected to provide lucrative opportunities for the market growth. UK is expected to dominate the market during the forecast period, owing to surge in adoption of big data and business analytics in manufacturing industry to boost the revenue of companies. Moreover, emerging countries in Europe are projected to offer significant growth opportunities during the forecast period. The players in the region are focusing toward product development and increasing their geographical presence, owing to rise in competition among local vendors in terms of features, quality, and price. In addition, these players are adopting various business strategies to enhance their product offerings and strengthen their foothold in the market. For instance, in April 2020, Amazon introduced new Appflow, which is a fully managed service that provides an easy, secure way for customers to create and automate bidirectional data flows between AWS and SaaS applications without writing custom integration code.
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