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Germany’s Big Data market is expected to grow from USD 4.51 billion in 2023 to USD 7.58 billion by 2029, driven by a compound annual growth rate (CAGR) of 8.88%, according to a new report from ResearchAndMarkets.com.
The growth of the market is driven by the growth of data and the need for faster and more efficient data processing, thanks to technological developments. Big Data has become an essential feature of today’s business landscape as the use of artificial intelligence and machine learning, and the need for predictive analytics continues to grow.
The increase in the volume of information produced in industries such as production, banking, and medical services contributes to the popularity of Big Data services.
Cloud services, Artificial Intelligence, Machine learning, and Predictive analytics have made it possible for businesses to capture and analyze large data sets. Additionally, government policies in the digital transformation and technological advancement of the market are also driving the market.
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However, issues like data privacy, consolidation of multiple sources of data, and high cost of technology adoption are still hurdles for businesses.
From the report highlighted by Global News Wire, South-West Germany is forecasted to be the largest region for the Big Data market in the country due to its industrial and technology orientated. They have first-rate automobile and mechanical engineering industries including Daimler, Porsche, and Bosch that have already started adopting Big Data for operations excellence and product design.
South-West Germany also has a well-developed research structure, with the Karlsruhe Institute of Technology, and the University of Stuttgart particularly involved in the fields of data science.
Top Players Shaping the German Big Data Market
Leading global technology giants such as IBM, Microsoft, Amazon Web Services, Oracle, and SAP continue to dominate the German Big Data landscape, providing businesses with a range of solutions to harness the power of their data.
Cloud-based Big Data solutions are gaining traction as businesses look to scale data capabilities efficiently.
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Hafsa Tahir
Hafsa is a content marketer who has been in the organic growth space for the past three years. With her background in Psychology and UX, she enjoys reading users' minds and is keen to try the most creative product marketing angles. Her copies scream: "you're not just a paycheck to us". Loves to crack unfunny jokes, pay gym fee and not go, and write psychologically disturbing short stories for some reason.
