Frost & Sullivan predicts that the global Big Data Analytics (BDA) market is estimated to witness double-digit growth in the post-pandemic COVID-19 era.
In its report, Post-pandemic Growth Opportunity Analysis of the Big Data Analytics Market, Frost & Sullivan said that that if COVID-19 is contained by August 2020 and that global markets will be able to recover by the end of the year, the market is expected to expand at a compound annual growth rate (CAGR) of 28.9 percent, reaching $68.09 billion by 2025 from $14.85 billion in 2019, the report said.
Under the conservative forecast, the market is likely to reach $41.84 billion by 2025, at a CAGR of 18.8 percent. Depending on the development and availability of a vaccine, the conservative forecast includes a market slowdown and recovery period of 18 to 24 months.
Deviki Gupta, Information & Communication Technologies Senior Industry Analyst at Frost & Sullivan, said: “Considering the benefits of BDA solutions in both the government and intelligence (G&I) and non-governmental organization (NGO) sectors, there will be an increase in demand for analytics as it has promising features, such as mitigating risk in business planning, improving operations, and better serving customer needs.”