Brazil Big Data Analytics Market - Growth, Trends, and Forecasts (2020 - 2025)
The Brazil Big Data Analytics Market is expected to register a CAGR of 27.7% over the forecast period 2020 to 2025. The growth in the data analytics market in the region can be accredited to various factors such as the need to enhance the business efficiency coupled with the growing utility of IoT analytics, big data analytics, and SaaSbased analytics in numerous enduser industries like BFSI, sports, retail, manufacturing, and healthcare.
Brazil is slowly moving towards Industry 4.0, and industries like oil, gas, mineral, and agriculture are expected to be the significant adopters of Big Data services.
The country is taking steps to accomplish considerable efficiency gains of smart connected networks, digitalization, and automated processes over the next five years from 2020. According to Software.org, 21% to 24% of small and medium firms in Brazil hope digitalization will help develop more tailored products and services.
Moreover, the growing adoption of data center services in sectors such as media and entertainment, BFSI, and government agencies are expected to boost the demand for colocation facilities.
Another prominent trend in Brazil that aids the growth of big data analytics includes increasing the deployment of Things (IoT) devices in the banking sector. The BFSI industry benefits from faster processing and data management at a minimal cost.
According to a survey by Softweb Solutions, retailers who use predictive analytics have achieved a 73% increase in sales than those who did not use it. Therefore, retailers in Brazil are utilizing Big Data solutions via customer analytics to multiply profitability and outperform competitors by personalizing their instore offerings and online product.
The incorporation of 5G and improvement towards fixed broadband connectivity will fuel the demand for HPC infrastructure in Brazil by 2025. Due to the increasing greenfield facility developments, the region's data center market has a strong potential for UPS systems, notably higher than 10 MW.
Especially during the COVID19 pandemic including efforts to contain its spread and help businesses stay afloat the need to extract, visualize, and execute this intelligence in nearrealtime is increasingly becoming a missioncritical objective, thus giving a boost to the Big Data Analytics market.
Key Market Trends
Retail & Consumer Goods is Expected to Register a Significant Growth
Brazil has a more dynamic economy in general and a retail & consumer goods sector that is more active than in other countries of North America. Brazilian companies are catching up and have undergone a robust process of corporate modernization and transformation in retail. This has leveraged the growth of the internal market, which has grown significantly and is expected to grow.
The Brazilian Supermarket Association (ABRAS) reported supermarket revenues of USD 355.7 billion (USD 97 billion) in 2018, representing 5.2% of the country’s GDP and a 0.7% increase in nominal terms. Brazil’s retail sector includes 89,368 stores.
The retail & consumer goods industry currently in Brazil holds a significant share of the supply chain big data analytics market. It is expected to present vast growth opportunities, owing to the growing number of data sources being generated, with the adoption of IoT solutions, beacons, and RFID technologies across the supply chain.
Big data powers AI, and so it follows that AI would continue to find its way into the retail & consumer goods industry. Many big data companies in Brazil claim to assist marketers, retailers, and eCommerce companies in managing their data so that it would allow them to personalize customer engagement, forecast inventory, and segment customers in the region.
Moreover, retailers in the country adopt IoT solutions and devices to analyze customer data, track stock levels, and strengthen customer relationships. All these technological improvisations not only enable better tracking of the products across the supply chain but also help in gaining a clear understanding of customer behavior.
Social & Site Analytics Account for a Significant Market Share
Social & Site Analytics in big data analytics is a broad term used for referring to the approach of mining data from social media sources, using Big Data technologies for processing and presenting the statisticsbased insights to businesses, to aid their decisionmaking processes.
The Brazilian government has invested heavily in the country’s internet connectivity to bridge the technology gap between rich and poor. According to Wordbank LLC, 122 million Brazilians are now on social media, which is 87.7% of the country’s total internet population.
Interpreting principal patterns in the social sphere could support institutions gain a competitive advantage over other firms, as in recent years, it has become essential to have an active social media strategy.
Brazil is Facebook’s fourthlargest market, so it’s a must for any effective Brazilian social media strategy. Google+ also emerged as a success, with Brazilian users making up the platform’s thirdlargest demographic, but data security issues forced it to shut down the platform in April 2019.
Social media analytics and insights need robust data and text processing tools in addition to highlycustomizable visualization means, for allowing the banking industry to find critical linkages between mined information, further driving the demand.
The Brazil social media landscape presents a great opportunity for brands looking to gain ground in Brazil. With such high social platform usage rates, Brazil is an ideal testing ground for highly targeted campaigns across channels.
However, several industries have faced concerns about whether social media analytics/insights could be used as a reliable sample size to reflect the sentiment of the entire customer base, as it is prone to bias. Customers active on social media may demonstrate utterly different behavior from regular customers.
The Brazil Big Data Analytics Market is moderately competitive and consists of a few major players. In terms of market share, some of the players currently dominate the market. However, with the advancement in the analytics across the managed services, new players are increasing their market presence, thereby expanding their business footprint across the region. The vast expansion of capabilities in the Big Data analytics technology (owing to the availability of opensource tools) may also push the companies in the area to keep up with rivals and give away too much of the improved product performance, and environment escalates costs and erodes industry profitability.
May 2020 Qlik announced the general availability of Qlik Alerting, an intelligent alerting platform for Qlik Sense. Qlik Alerting delivers actionable, selfservice, and centralized alerting that enhances customers’ ability to proactively monitor their business data and take timely action based on insights.
May 2020 Google Cloud and Splunk Inc. announced a new strategic partnership to help organizations drive actionable insights from their data and enable fast decisions with realtime visibility across the enterprise. Splunk Cloud will soon be available on Google Cloud to help customers unlock the value of their data and provide increased flexibility for harnessing the power of the Splunk DatatoEverything Platform.
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