Brazil Big Data Analytics Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 3.41 Million |
| Market Size (2029) | USD 5.53 Million |
| CAGR (2024 - 2029) | 10.12 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Brazil Big Data Analytics Market Analysis
The Brazil Big Data Analytics Market size is estimated at USD 3.41 million in 2024, and is expected to reach USD 5.53 million by 2029, growing at a CAGR of 10.12% during the forecast period (2024-2029).
- The need to increase business efficiency and the expanding use of the IoT, big data, and software-as-a-service (SaaS)-based analytics in numerous end-user industries like banking, financial services, and insurance (BFSI), sports, retail, manufacturing, and healthcare can all be linked to the country's expanding data analytics business.
- Big data analytics play a significant role in businesses because they enable them to manage, organize, and streamline massive datasets in real-time while enhancing their decision-making capacity. Additionally, a key goal of big data and business analytics is to assist organizations in strengthening their regional marketing campaigns by helping them better understand their target audiences and customers.
- Big data analytics has great potential, given how much data people and organizations produce every minute. The demand for big data analytics is also expected to rise as more businesses, including those in the media and entertainment, BFSI, and government agencies, adopt data center services. Most resources will purchase big data and analytics solutions. As per industry experts, by 2026, spending on AI-centric systems is anticipated to surpass USD 290 billion, which will advance disciplines including AI, big data, cloud analytics, and information security.
- Due to the continually increasing rivalry, businesses are forced to embrace big data analytics to maximize their expansion. Also, significant data analytics software helps organizations investigate the elements impacting outcomes. It provides the power of decision optimization and is predicted to create profitable market expansion opportunities across the region.
- The risk of identity theft increases as organizations obtain profile data, especially if the data is kept from being kept securely. The growing number of data losses or cyberattacks on enterprises' stored customer data is expected to impede the industry's success. Additionally, a shortage of experienced workers and hefty implementation costs are predicted to restrict industry expansion.
Brazil Big Data Analytics Market Trends
The Retail and Consumer Goods Segment is Expected to Register a Significant Growth
- Brazil's economy is more dynamic overall, and its retail and consumer products segment is more active than other North American nations. Brazilian businesses are catching up and have gone through a significant corporate modernization and retail transformation process. This has accelerated the internal market's expansion, which has been strong and is anticipated to continue.
- In Brazil, the retail and consumer goods segment owns a sizable portion of the supply chain big data analytics market. The increase in data sources produced due to deploying IoT solutions, beacons, and radio-frequency identification (RFID) technologies throughout the supply chain is anticipated to offer enormous growth prospects.
- Social media comments heavily influence Brazilian consumers; thus, they may decide against buying a product with many unfavorable evaluations. Brazilian consumers are increasingly making purchases online rather than in physical stores, which has increased the demand for big data analytics to understand the customer better. E-commerce has been gradually developing in Brazil. As per data by NeoTrust, fragrances and cosmetics is a leading category in e-commerce purchases by Brazilian consumers, contributing 15% of sales.
- Big data is powering artificial intelligence (AI), which is expected to continue revolutionizing the retail and consumer goods segment. Brazil boasts many big data companies that manage data for marketers, retailers, and e-commerce companies. These companies offer services that enable accurate inventory forecasting, customer segmentation, and personalized customer engagement.
- Moreover, retailers in the country adopt IoT solutions and devices to analyze customer data, track stock levels, and strengthen customer relationships. These technological improvisations enable better tracking of the products across the supply chain and help gain a clear understanding of customer behavior.
Emerging Trends such as Social Media Analytics to Witness the Growth
- Big data analytics is in great demand as firms in the area seek to use information assets to improve client interactions, commercial outcomes, and operational efficiency. Moreover, the regional hub in Brazil contributes toward advancing big data and data science, which helps develop official statistics and creative initiatives in Latin America and the Caribbean. It hosts a series of webinars to present experiences using alternative data sources, allowing the learners to produce reliable indicators.
- However, new big data analytics developments are anticipated to expand regional company opportunities greatly. Examples include text analytics and social media analytics. Moreover, many firms have selected a variety of advertising campaigns, product promotions, and other types of promotions that rely mostly on social media event marketing due to social media's better effectiveness over more traditional means of advertising.
- Additionally, the increasing use of internet-connected smartphones and tablets and the continually growing user base on social media platforms are propelling the growth of social media analytics. With increasing technology usage, players have created a data-rich environment, highlighting the growing demand for advanced data analytics to extract crucial information.
- Also, "social and site analytics" in big data analytics refers to extracting information from social media sources, processing it using big data technologies, and then providing statistics-based insights to businesses to support their decision-making processes. According to data, WhatsApp is the most popular social media platform, followed by Instagram, among content consumers in Brazil. It allows companies to conduct surveys regarding a new launch of products using these platforms and invest in analyzing consumer preferences based on data.
- Interpreting key social trends may help organizations get a competitive edge over rival companies, as maintaining an active social media strategy has been crucial in recent years. Social media players collect data that helps them derive insights and support informed decision-making. Deploying big data analytics allows them to analyze customer behavior toward a specific brand and their preferences based on likes, shares, comments, and content interaction and accordingly develop the content strategy. It will enable marketing companies to share targeted products in consumer feeds to improve customer experience and enhance productivity by giving customized advertisement content.
Brazil Big Data Analytics Industry Overview
The Brazilian big data analytics market is moderately competitive and has several significant players. In terms of market share, several players lead the industry. However, new competitors are increasing their market presence and, as a result, expanding the company's reach throughout the region due to advances in analytics within managed services. The massive increase in big data analytics technology's capabilities (caused by the accessibility of open-source tools) may also encourage businesses in the field to compete with one another and give away an excessive amount of improved product performance. Environmental factors drive up costs and reduce industry profitability.
September 2023: Informatec announced the collaboration with Toccato to launch Brazil's iVIEW Data Automation Framework. This Qlik-integrated toolkit framework offered a solution for business for three core products: Dataflow for data integration, iVIEW Library for data governance, and iVIEW Designer for data visualization.
March 2023: TIBCO Software Inc. announced a series of enhancements to its analytics suite, delivering immersive, smart, and real-time analytics that empower customers to take action and benefit from faster, smarter insights. Game-changing updates to TIBCO Spotfire and other scalable analytics solutions close the gap between understanding and action, building on existing capabilities to accelerate time-to-decision and lower operations costs.
Brazil Big Data Analytics Market Leaders
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QlikTech
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Splunk Inc.
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TIBCO Software Inc.
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Cortex Intelligence Tecnologia S.A.
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Informatec Ltd.liab.Co.
*Disclaimer: Major Players sorted in no particular order
Brazil Big Data Analytics Market News
- January 2024: Prove Identity Inc. ("Prove"), the global player in digital identity, announced a strategic alliance with TargetData, Brazil's leading big data analysis firm in Brazil. This partnership is planned to support large companies in Brazil in getting access to Prove's digital identity verification and authentication solutions. The planned vision is to improve the security of digital transactions for Brazilian consumers while investing in the customer experience by allowing seamless transactions.
- June 2023: o9 Solutions, an AI software platform provider, announced its partnership with Zamp SA, which operates franchises of Burger King and Popeyes restaurants in Brazil. The o9 company helped Zamp SA in demand forecasting and inventory management capabilities for these restaurants across all locations in Brazil by leveraging big data analytics.
Brazil Big Data Analytics Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Consumers
4.2.3 Threat of New Entrants
4.2.4 Intensity of Competitive Rivalry
4.2.5 Threat of Substitute Products
4.3 Assessment of Impact of COVID-19 on the Market
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Higher Emphasis on Use of Analytics Tools to Empower Decision Making Among Large-Scale Enterprises
5.1.2 Rapid Increase in the Generation of Data Coupled with Availability of Several End-User Specific Tools Due to the Growth in Local Landscape
5.1.3 Growing Demand in Enterprise, Government, and Telecom Verticals
5.1.4 Emerging Trends Such as Social Media Analytics to Witness the Growth
5.2 Market Challenges
5.2.1 Relative Lack of Awareness on ROI and Operational Challenges for Legacy Enterprises
6. TECHNOLOGY SNAPSHOT
6.1 Types of Big Data Analytics - Data Discovery and Visualization, and Advanced Analytics
6.2 Adoption Trends Related to Predictive, Prescriptive, and Descriptive Analytics
7. MARKET SEGMENTATION
7.1 By Organization Size
7.1.1 Small and Medium Scale
7.1.2 Large Scale Organizations
7.2 By End-user Vertical
7.2.1 IT and Telecom
7.2.2 BFSI
7.2.3 Retail and Consumer Goods
7.2.4 Manufacturing
7.2.5 Healthcare and Lifesciences
7.2.6 Government
7.2.7 Other End-user Verticals
8. COMPETITIVE LANDSCAPE
8.1 Company Profiles*
8.1.1 QlikTech
8.1.2 Splunk Inc.
8.1.3 TIBCO Software Inc.
8.1.4 Tableu Software
8.1.5 Cotex Intelligence
8.1.6 IBM Corporation
8.1.7 Indicum Technology
8.1.8 TAIL DMP
8.1.9 SAS Institute
8.1.10 Precifica
8.1.11 WebRadar
8.1.12 Informatec Ltd.liab.Co.
9. INVESTMENT ANALYSIS
10. MARKET OPPORTUNITIES AND FUTURE TRENDS
Brazil Big Data Analytics Industry Segmentation
Big data can be defined as a large volume of structured and unstructured data that cannot be stored directly in a database with proper processing. Big data analytics is an IT offering that utilizes data mining, such as text mining and predictive modeling. Big data gives insight into many complex areas of an individual's life, including the lifestyle, needs, and preferences of their customers, so it is easy for banks to personalize services to the needs of each individual.
The Brazil big data analytics market is segmented by organization size (small, medium, and large-scale organizations) and end-user vertical (IT and telecom, BFSI, retail and consumer goods, manufacturing, healthcare and life sciences, government, and other end-user verticals). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
| By Organization Size | |
| Small and Medium Scale | |
| Large Scale Organizations |
| By End-user Vertical | |
| IT and Telecom | |
| BFSI | |
| Retail and Consumer Goods | |
| Manufacturing | |
| Healthcare and Lifesciences | |
| Government | |
| Other End-user Verticals |
Brazil Big Data Analytics Market Research FAQs
How big is the Brazil Big Data Analytics Market?
The Brazil Big Data Analytics Market size is expected to reach USD 3.41 million in 2024 and grow at a CAGR of 10.12% to reach USD 5.53 million by 2029.
What is the current Brazil Big Data Analytics Market size?
In 2024, the Brazil Big Data Analytics Market size is expected to reach USD 3.41 million.
Who are the key players in Brazil Big Data Analytics Market?
QlikTech, Splunk Inc., TIBCO Software Inc., Cortex Intelligence Tecnologia S.A. and Informatec Ltd.liab.Co. are the major companies operating in the Brazil Big Data Analytics Market.
What years does this Brazil Big Data Analytics Market cover, and what was the market size in 2023?
In 2023, the Brazil Big Data Analytics Market size was estimated at USD 3.06 million. The report covers the Brazil Big Data Analytics Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Brazil Big Data Analytics Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Brazil Big Data Analytics Industry Report
Statistics for the 2024 Brazil Big Data Analytics market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Brazil Big Data Analytics analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
