May 2025
The global data analytics market size is estimated at USD 50.04 billion in 2024 and is anticipated to reach around USD 658.64 billion by 2034, expanding at a CAGR of 29.40% from 2025 to 2034. Data analytics is a statistical strategy for evaluating and analyzing a lot of data to get a good result. Insightful knowledge that can aid in corporate growth can be gained from the data processed in this way, which can be gleaned from historical trends.
The U.S. data analytics market size is estimated at USD 15.76 billion in 2024 and is expected to be worth around USD 211.28 billion by 2034, rising at a CAGR of 29.64% from 2025 to 2034.
In 2024, North America accounted for a significant 45% of the worldwide market for data analytics. This is due to the availability of infrastructure that supports the use of cutting-edge analytics and the rise in the usage of cutting-edge technologies like AI and machine learning.
Over the course of the projected period, the Asia Pacific market is predicted to display a noteworthy CAGR of 23.5%. The regional market is expanding as a result of big data analytics tools and solutions being widely used there. Additionally, a number of businesses in the area are making significant investments in customer analytics to boost productivity and efficiency. Additionally, regional travel agencies including TNT Korea Travel, China Ways LLC, and Trafalgar are implementing analytical tools for uses like monitoring bus timetables, railway schedules, train breakdowns, and traffic management.
Businesses need data analytics because it gives them the ability to manage, process, and simplify large datasets in real time while also enhancing their capacity for data-driven decision-making. Additionally, the main objective of big data and business analytics is to help businesses better understand their clients and target markets, hence enhancing marketing efforts. These qualities are anticipated to boost acceptance by numerous companies from various industries, which would propel the expansion of the big data market.
Numerous new business prospects are anticipated to arise as a result of recent breakthroughs in big data analytics, including social media analytics and text analytics. Furthermore, many businesses have turned to social media as their main source for a range of advertising campaigns, product promotions, and events because it is more efficient than traditional advertising. Additionally, the expansion of social media analytics is encouraged by the rise in popularity of internet-connected mobile devices like smartphones and tablets, as well as the rising number of users on social media platforms. Client demands are always changing in a business climate where organizations must operate quickly.
Companies look to historical data about their past performances in addition to current information about their customers, goods, services, and business processes in order to obtain insights and discover historical trends and patterns. In order to examine these patterns, find new business opportunities, and create strategies based on recent insights, several industries have adopted business analytics software and solutions. This is then anticipated to further accelerate the expansion of the big data market.
Report Coverage | Details |
Market Size in 2025 | USD 64.75 Billion |
Market Size in 2024 | USD 50.04 Billion |
Market Size by 2034 | USD 658.64 Billion |
Growth Rate from 2025 to 2034 | CAGR of 29.40% |
Base Year | 2024 |
Forecast Period | 2025 to 2034 |
Segments Covered | Type, Deployment, Enterprise Size, End Use |
Regions Covered | North America, Europe, Asia-Pacific, Latin America, Middle East & Africa |
The growing trend of edge computing
Growing security concerns
Consumption of the data is rising
The software segment dominated the market with a 67.80% share in 2024. The dominance of the segment can be attributed to the growing demand for real-time data processing along with the increasing trend of digital transformation across various industries. Data analytics software helps market players to control the influx of data, such as complex unstructured formats, to get valuable information.
The services segment is expected to grow at the highest CAGR of 13.20% in 2024. The growth of the segment can be credited to the ongoing adoption of cloud services and the proliferation of big data in the sector. Businesses are rapidly using advanced analytics services to improve customer experience and fuel operational efficiency across all sectors.
The descriptive analytics segment held a 26.30% market share in 2024. The dominance of the segment can be linked to the rapid digital transformation, which results in a surge in Big Data along with the growing user engagement on social media platforms. Also, organisations use descriptive analytics to identify patterns and consumer behaviour.
The augmented analytics segment is expected to grow at the highest CAGR of 15.10% in 2024. The growth of the segment can be driven by a surge in the integration of AI and machine learning, coupled with the growing demand to extract value from large, complex datasets. Moreover, augmented analytics enables more precise and faster decision-making by minimizing reliance on specialized data scientists.
The cloud segment led the market by holding 58.60% share in 2024 and is expected to grow at the highest CAGR of 13.80% over the forecast period. Cloud solutions demand is anticipated to expand as IoT and cloud computing become more widely adopted. Modern cloud analytics tools continue to have an impact on how businesses manage, organize, and utilize the data produced by digital channels.
In 2024, the large companies' market share was over 60%, making it the largest. The increased use of sophisticated analytics solutions, like customer & business analytics, for major organizations' efficient management of their enormous customer and asset databases, can be contributed to the segment's growth.
In addition, a number of significant businesses are implementing data analytics to boost their revenues, advance analytics expertise, and strengthen risk management competencies. Data analytics also helps businesses better analyze the data and disseminate critical information to those who need it.
In 2024, the SME sector controlled more than 35% of the market. It is projected that SMEs would increase their need for data analytics solutions due to the increased need for dashboards for data visualization. Additionally, SMEs choose data analytics tools to improve customer service and take better risk-related decisions.
In 2024, the BFSI sector held the greatest share of almost 25%. The continued use of data analytics for spotting fraudulent transactions, streamlining workflows, and managing data risks can be blamed for the segment rise. In addition, it is anticipated that the market would grow as a result of the increased utilization of BI software to offer continuous access to customer databases, secure transactions, and advance the client experience.
These technologies assist financial organizations in sorting unstructured data, guaranteeing regulatory compliance, and improving operational efficiency and consumer experiences.
In 2024, the IT and telecom sectors had a share of more than 20%. The increase in demand for tools like video conferencing and web conferencing is responsible for the market growth. Additionally, businesses in this industry are implementing cutting-edge analytical techniques to stop fraud like unauthorized access, or cloning.
Furthermore, thanks to big data analytics, telecom businesses can create micro-segments for the numerous clients they service. As a result, these businesses might be able to identify their most important clients and tailor their offers to suit their demands.
The customer analytics segment dominated the market with a 19.40% share in 2024. The retail sector makes extensive use of customer analytics to create individualized communications in addition to marketing initiatives. The retail industry's customers' rising demand for an omnichannel experience has fuelled the segment's rise. Well-known businesses like Walmart and Amazon have been effective in leveraging the advantages of various social media sites like Facebook. The segment is expected to develop as a result of more retail businesses focusing on providing omnichannel services to their customers.
The fraud detection & prevention segment is expected to grow at the highest CAGR of 14.70% in 2024. The growth of the segment is owing to the rise in mobile banking and online transactions, along with the need for AI- and ML-driven solutions. Furthermore, companies are treating fraud prevention as a crucial revenue-protection lever.
By Component
By Type
By Deployment Mode
By Application / Use Case
By Organization Size
By Industry Vertical
By Technology / Analytical Techniques
By Geography
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