The 2024 Big Data Industry Report provides a detailed look at the latest trends and advancements in big data, showcasing its continued growth and innovation. It explores key areas like process automation, cloud infrastructure, and unstructured data management, offering valuable insights for businesses in the field. The report also highlights the global reach of big data, focusing on the major hubs and regions driving the industry forward.
This big data & analytics report serves as a reference for stakeholders within the industry, investors, policymakers, and economic analysts, providing a snapshot of the industry’s health to map its trajectory for innovation and growth in the coming years.
StartUs Insights Big Data Industry Report 2024
- Executive Summary
- Introduction to the Big Data Industry Report 2024
- What data is used in this Big Data Outlook?
- Snapshot of the Global Big Data Industry
- Funding Landscape in the Big Data Industry
- Who is Investing in Big Data Solutions?
- Emerging Trends in Big Data & Analytics
- 5 Innovative Big Data Startups
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Executive Summary: Big Data Market Outlook 2024
This report is created using data obtained from the Big Data and AI-powered StartUs Insights Discovery Platform, covering more than 4.7 million global companies, as well as 20K+ technologies and emerging trends. We also analyzed a sample of 5180+ big data startups developing innovative solutions to present five examples from emerging big data industry trends.
- Industry Growth: The industry is facing numerous challenges worldwide, reflected by its annual growth rate of -27.82%.
- Manpower & Employment: The global workforce in big data stands at 13 million, with 1 million employees joining last year.
- Patents & Grants: Despite recent challenges, the industry persists with over 146000 patents and benefits from 19900+ grants supporting research and development efforts.
- Global Footprint: The top country hubs are the USA, India, UK, Germany, and Canada, while London, New York City, San Francisco, Bangalore, and Singapore emerge as leading city hubs.
- Investment Landscape: Investment activity is strong with an average investment value of USD 22 million per round, involving over 11700 investors and more than 61500 funding rounds closed.
- Top Investors: Leading investors such as Insight Partners, SoftBank Vision Fund, and Tiger Global have collectively invested more than USD 10 billion.
- Startup Ecosystem: Five innovative startups featured in this report include Vespa (big data processing), Expanso (data integration), Hexwise (industrial energy efficiency), Arkham Technologies (blockchain data analysis), and Sanitas AI (data-driven healthcare).
- Recommendations for Stakeholders: Investors should fund scalable solutions and robust data management capabilities, emphasizing long-term potential. Entrepreneurs should focus on developing technologies that address critical industry challenges and enhance data sharing. Companies should also invest in workforce training or upskilling to stay competitive.
Explore the Data-driven Big Data Industry Report for 2024
The Big Data Industry Report 2024 uses data from the Discovery Platform and encapsulates the key metrics that underline the sector’s dynamic growth and innovation. The big data industry report includes a detailed heatmap highlighting essential data points. The database features 5187 startups among over 195000 companies, indicating substantial activity in the sector.
Despite a significant industry growth decline of -27.82% last year, innovation persists with over 146000 patents. Additionally, the industry benefits from 19,900+ grants supporting research and development efforts.
The global workforce in big data stands at 13 million, with an impressive addition of 1 million employees in the last year. The top country hubs are the USA, India, UK, Germany, and Canada, while London, New York City, San Francisco, Bangalore, and Singapore emerge as leading city hubs. This heatmap emphasizes the industry’s dynamic regions, showcasing both challenges and opportunities for growth and innovation.
What data is used to create this big data market report?
Based on the data provided by our Discovery Platform, we observe that the big data industry ranks among the top 5% in the following categories relative to all 20K topics in our database. These categories provide a comprehensive overview of the industry’s key metrics and inform the short-term future direction of the industry.
- News Coverage & Publications: The industry received significant news coverage, with over 213000 publications last year.
- Funding Rounds: There were more than 61500 funding rounds recorded in our database, indicating strong investor interest.
- Manpower: The industry employs over 13 million workers, adding more than 1 million new employees in the past year.
- Patents: It boasts over 866000 patents, showcasing continuous technological advancement.
- Grants: The industry received over 14300 grants, underscoring the significant investments in research and development.
- Yearly Global Search Growth: Global search growth for the industry increased by 36.23% yearly, reflecting rising consumer interest.
- and more. Get in touch to explore all data points used in this big data report.
A Snapshot of the Global Big Data Industry
The big data industry has shown considerable growth and investment, reflected in several key data points. Employee growth in the last year alone was 1 million, highlighting the sector’s rapid expansion and the increasing demand for big data solutions. With over 195000 companies operating within the industry, the landscape is diverse and competitive, driving innovation and development.
Explore the Funding Landscape of the Big Data Industry
The big data sector is experiencing a surge in investment, with an average of USD 22 million invested per funding round. This robust financial activity is driven by the participation of over 11700 investors who recognize the market’s significant potential.
This substantial financial support has benefited more than 18900 companies, highlighting the widespread confidence in the sector’s ability to innovate and generate value. With this strong backing, the big data industry is poised for continued growth and global influence.
Who is Investing in Big Data Solutions?
The big data industry has attracted significant investment from leading financial institutions and venture capital firms, demonstrating strong market confidence. The combined value invested by the top investors amounts to more than USD 10 billion. Below are the top investors and their contributions:
- Insight Partners: Invested USD 2 billion across 44 companies.
- SoftBank Vision Fund: Supported 12 companies with USD 1.8 billion.
- Tiger Global Management: Allocated USD 1.7 billion to 35 companies.
- New Enterprise Associates: Invested USD 1.4 billion in 33 companies.
- Goldman Sachs: Committed USD 1.2 billion to 28 companies.
- Sequoia Capital China: Distributed USD 1.1 billion across 41 companies.
- Tencent: Invested USD 1 billion in 10 companies.
- and more. Contact us to explore all investment data in big data solutions.
These investments illustrate a robust financial foundation for the big data industry, fostering innovation and expansion. The involvement of such prominent investors underscores the industry’s promising future and the confidence in its ongoing development.
Access Top Big Data Innovations & Trends with the Discovery Platform
The Process Automation sector is booming, with 8060 companies employing 407K people. Over the past year, the sector has created 46000 new jobs, and its 17.80% annual growth rate highlights the growing adoption of automation technologies to streamline operations and improve efficiency. Companies in this sector are focused on developing cutting-edge automation solutions that enhance productivity and reduce human error.
The Cloud Infrastructure sector is experiencing significant growth, with 3,924 companies employing 204,000 people. Last year, the sector added 24000 new jobs, and its 14.64% annual growth rate demonstrates the increasing reliance on cloud technologies for modern business operations. Companies in this sector are focused on developing robust cloud platforms that offer flexibility, security, and efficiency, driving digital transformation on a global scale.
The Unstructured Data Management sector is experiencing significant growth, with 1250 companies employing 53000 people. Last year, the sector added 8000 new jobs, and its 15.28% annual growth rate demonstrates the increasing demand for solutions that can manage and analyze diverse data formats like text, images, and videos. Companies in this sector are developing innovative tools to extract valuable insights from this unstructured data, supporting decision-making and driving business growth.
5 Top Examples from 5180+ Innovative Big Data Startups
The five innovative startups showcased below are picked based on data including the trend they operate within and their relevance, founding year, funding status, and more. Book a platform demo to find promising startups, emerging trends, or industry data specific to your company’s needs and objectives.
Vespa Trondhiem provides Big Data with an AI-based Online Platform
Norway-based startup Vespa provides a real-time big data processing and serving engine for various applications. The Vespa platform enables efficient search, recommendation, and personalization by processing large-scale data sets instantly. Its technology supports advanced machine learning models, optimizing relevance and performance for user queries. Vespa integrates seamlessly with existing infrastructure, offering scalability and flexibility. The platform handles structured and unstructured data, ensuring comprehensive data management capabilities. Additionally, Vespa’s architecture prioritizes low-latency responses, enhancing user experience and engagement.
Expanso advances the Compute-Over-Data Approach
US-based startup Expanso provides advanced data integration and management solutions. Its platform, ExpansoX, offers seamless data integration across various sources, enhancing data accessibility and usability. The technology supports real-time data processing, ensuring timely and accurate data insights. ExpansoX features robust security measures, protecting sensitive information from unauthorized access and breaches. The platform includes advanced analytics tools, allowing users to derive meaningful insights from complex data sets.
Hexwise develops Industrial Energy Efficiency Solutions
Dutch startup Hexwise offers industrial energy efficiency solutions using big data and analytics tools. The company’s platform integrates advanced analytics to optimize energy usage across various industrial processes. Hexwise’s technology monitors real-time energy consumption, providing actionable insights to reduce waste and improve efficiency. Its solutions include predictive maintenance, which minimizes downtime and maximizes operational efficiency, and automated energy reporting, ensuring compliance with regulatory standards.
Arkham Technologies provides a Business Intelligence Chat Solution
Arkham Technologies is a US-based startup that offers advanced solutions for analyzing blockchain data. Its platform provides real-time insights and tracking of blockchain transactions, enhancing transparency and security. The technology includes features like anomaly detection, fraud prevention, and compliance monitoring, crucial for financial institutions. The company’s platform integrates machine learning algorithms to identify suspicious activities and ensure data integrity. Additionally, the system supports various blockchain networks, offering versatile applications for different industries.
Sanitas AI builds a Healthcare Research Platform
US-based startup Sanitas AI offers advanced data-driven healthcare solutions for improved patient outcomes. The company’s platform integrates AI and big data analytics to streamline medical decision-making. Sanitas AI’s technology analyzes vast amounts of patient data, providing actionable insights for healthcare professionals. The platform features real-time data processing, enhancing the accuracy and speed of diagnoses. Additionally, Sanitas AI supports predictive analytics, helping to anticipate patient needs and optimize treatment plans. The technology also ensures data security and compliance with healthcare regulations.
At StartUS Insights, we also use big data and AI to build the Discovery Platform. Check it out here.
Gain Comprehensive Insights into Big Data Trends, Startups, or Technologies
The 2024 Big Data industry report highlights significant advancements in key areas like process automation, cloud infrastructure, and unstructured data management. Despite recent challenges, the industry continues to attract substantial investment and skilled professionals, underscoring its vital role in the digital economy. The report emphasizes the importance of leveraging big data technologies to drive informed decision-making. Connect with us to explore all 5180+ startups and scaleups, as well as all industry trends impacting big data companies.
