In this piece, we will take a look at the top 15 big data analytics companies of 2023. If you want to skip our industry introduction, then take a look at the Top 5 Big Data Analytics Companies of 2023.
Data analytics is all the buzz these days. Advances in computing, technology, and industrialization have expanded business operations by quite a bit and also allowed companies to collect copious amounts of data to generate new insights.
This growth in data analytics over the years has also led major semiconductor firms such as Intel Corporation (NASDAQ:INTC), NVIDIA Corporation (NASDAQ:NVDA), and Advanced Micro Devices, Inc. (NASDAQ:AMD) to offer two categories of central processing units (CPUs) and graphics processing units (GPUs). One set of these are for consumers, primarily for everyday use in laptops and desktops, while the other is used in large scale data centers for enterprise computing. While all big data uses data centers, not all data centers are used for big data analytics since the data that must be stored on a site must exceed 1 Petabyte to be classified as big data.
So how big is the big data market? Well, to answer this question we'll have to individually look at its hardware and software constituents. The hardware portion was worth $279 billion last year and is expected to grow at a compounded annual growth rate (CAGR) of 7.3% until 2032 to be worth $656 billion by the end of the forecast period. Within this segment, the information technology segment is the biggest, as it accounts for 35% of the market. Hinting at the importance of big data to the data center market, the hyperscale segment which consists of products that are capable of scaling up data centers to thousands of servers was the biggest product type, controlling 43% of the market.
Comparing the data center market with the big data and data analytics market shows that this segment was worth $198 billion in 2020 and it is expected to grow at a CAGR of 13.5% between 2021 and 2030 to be worth $684 billion by then. Off site computing was one of the rare industries that actually boomed during the coronavirus pandemic as businesses were forced to deal with more computing and data due to work from home requirements. Software and services are the biggest portion of this market, and geographically, Asia Pacific is expected to be the fastest growing region, since it is expected to outpace the broader market through a growth rate of 17.5%.
Shifting our focus from the broader industries to the firms that operate in, there are quite a bit of firms that have a presence in the industry. These include firms like Oracle Corporation (NYSE:ORCL) and SAP SE (NYSE:SAP) which operate on the software side of data analytics and allow companies to consolidate their business data into single platforms to enable data driven insights and decision making. Oracle's big data solutions allow for consolidating large scale data into databases under a variety of languages and parameters through systems such as SQL, Hadoop, Kafka, and Spark. While these are primarily data storage and access platforms, the Oracle big data analytics platform also lets data scientists build and deploy machine learning models that leverage programming languages such as Python.
Another firm whose platform is crucial to big data analytics is the technology giant Microsoft Corporation (NASDAQ:MSFT). Microsoft's Azure is one of the biggest enterprise computing platforms in the industry, and it enables big data analytics under Microsoft's Intelligent Data Platform. Here's what the firm had to say about this platform's capabilities and market performance during its latest earnings call:
Our Intelligent Data Platform brings together databases, analytics and governance, so organizations can spend more time creating value and less time integrating their data estate. Cosmos DB is the go-to database, powering the world’s most demanding workloads at any scale. OpenAI relies on Cosmos DB to dynamically scale their ChatGPT service, one of the fastest-growing consumer apps ever, enabling high reliability and low maintenance.The NBA uses Cosmos DB to ingest more than 10 million data points per game, helping teams optimize their gameplay. And we are taking share with our analytics solutions. Companies like BP, Canadian Tire, Marks & Spencer and T-Mobile all rely on our end-to-end analytics to improve speed to insight.Now on to developers.
With these details in mind, let's take a look at some of the top big data and data analytics companies in the world. Some big ticket names are Alphabet Inc. (NASDAQ:GOOG), Microsoft Corporation (NASDAQ:MSFT), and Amazon.com, Inc. (NASDAQ:AMZN).
Top 15 Big Data Analytics Companies of 2023
Photo by Luke Chesser on Unsplash
Our Methodology
To compile our list of the top big data analytics companies, we first compiled all firms that offer big data analytics services. Then, these were ranked according to their latest market capitalization and the biggest companies were selected.
NetApp, Inc. (NASDAQ:NTAP) is a software company that offers data management and analytics services through different platforms. These allow customers to use different languages and interfaces such as NoSQL, Splunk, and Hadoop.
Insider Monkey dug through 943 hedge funds for their first quarter of 2023 shareholdings to find out that 27 had bought the firm's shares. NetApp, Inc. (NASDAQ:NTAP)'s largest hedge fund investor in our database is Peter Rathjens, Bruce Clarke, and John Campbell's Arrowstreet Capital with an $100 million stake.
Along with Microsoft Corporation (NASDAQ:MSFT), Alphabet Inc. (NASDAQ:GOOG), and Amazon.com, Inc. (NASDAQ:AMZN), NetApp, Inc. (NASDAQ:NTAP) is one of the top big data analytics companies in the world.
Splunk Inc. (NASDAQ:SPLK) is a software company whose products enable firms to combine data warehouses and relational databases with its software to generate big data analytics. Despite the tough macroeconomic environment, it has beaten analyst EPS estimates for all of its latest four quarter earnings.
49 of the 943 hedge funds part of Insider Monkey's database had bought Splunk Inc. (NASDAQ:SPLK)'s shares as of Q1 2023. Jeffrey Smith's Starboard Value LP is the biggest investor out of these, courtesy of its $439 million investment.
Hewlett Packard Enterprise Company (NYSE:HPE) is an enterprise computing and products company. Its big data analytics platform enables firms to consolidate Apache and other workloads in a single platform to generate insights.
After digging through 943 hedge funds for their first quarter of 2023 shareholdings, Insider Monkey discovered that 37 had bought and owned a stake in the company. Out of these, Hewlett Packard Enterprise Company (NYSE:HPE)'s largest investor is Peter Rathjens, Bruce Clarke, and John Campbell's Arrowstreet Capital with a $440 million stake.
While Nokia Oyj (NYSE:NOK) is primarily associated with smartphones in the consumer's mind, it has slowly been acquiring several big data firms and startups over the years which have let it build a platform capable of running internet protocol (IP) analytics and other services.
As of March 2023, 15 of the 943 hedge funds part of Insider Monkey's research had invested in Nokia Oyj (NYSE:NOK). The firm's largest hedge fund shareholder is Jim Simons' Renaissance Technologies with an investment worth $140 million.
Palantir Technologies Inc. (NYSE:PLTR) is a pureplay big data analytics company whose software allows security services to sift through large volumes of intelligence to aid them in their investigations and operations.
31 of the 943 hedge funds polled by Insider Monkey for 2023's first quarter had bought the firm's shares. Palantir Technologies Inc. (NYSE:PLTR)'s biggest shareholder is Jim Simons' Renaissance Technologies with a $343 million stake.
Workday, Inc. (NASDAQ:WDAY) is a cloud computing company that provides software products for business users. Its big data analytics platform allows users to consolidate and explore data, generate analytics, and share insights.
Insider Monkey's first quarter of 2023 survey covering 943 hedge funds revealed that 86 had owned a stake in Workday, Inc. (NASDAQ:WDAY). Out of these, Stephen Mandel's Lone Pine Capital is the largest investor owning 4.2 million shares that are worth $881 million.
VMware, Inc. (NYSE:VMW) is a software firm that provides different products such as data centers and cloud computing platforms. Its products also include virtual big data management platforms that allow for cost reductions through a virtual environment.
68 of the 943 hedge funds has bought the firm's shares during this year's March quarter. Jim Davidson, Dave Roux, and Glenn Hutchins's Silver Lake Partners is VMware, Inc. (NYSE:VMW)'s biggest shareholder, through a $5.2 billion investment.
8. International Business Machines Corporation (NYSE:IBM)
Latest Market Capitalization: $120 billion
International Business Machines Corporation (NYSE:IBM) is a software and hardware company that primarily focuses on enterprise grade products. It also has a big data analytics platform that works with Hadoop, Cloudera, SQL, and others.
As 2023's first quarter ended, 49 out of the 943 hedge funds part of Insider Monkey's database had invested in International Business Machines Corporation (NYSE:IBM). Out of these, Peter Rathjens, Bruce Clarke, and John Campbell's Arrowstreet Capital is the largest shareholder courtesy of a stake worth $673 million.
SAP SE (NYSE:SAP) provides software products and platform which allows users to run their daily operations. It also has a variety of big data analytics products in its portfolio, such as IQ and Event Stream Processors. These and others, are consolidated under SAP SE (NYSE:SAP)'s Real-time Data Platform (RTDP).
After digging through 943 hedge funds for their March quarter of 2023 shareholdings, Insider Monkey discovered that 14 had bought the firm's shares. SAP SE (NYSE:SAP)'s largest hedge fund shareholder is Ken Fisher's Fisher Asset Management through its $792 million investment.
Salesforce, Inc. (NYSE:CRM) provides customer relationship management software. Its platform also allows users to bring 'Big Objects' to the Salesforce platform to create new data models.
Insider Monkey's Q1 2023 study of 943 hedge funds revealed that 136 had held a stake in Salesforce, Inc. (NYSE:CRM). Out of these, Ken Fisher's Fisher Asset Management is the biggest shareholder, owning 14 million shares worth $2.8 billion.
Alphabet Inc. (NASDAQ:GOOG), Salesforce, Inc. (NYSE:CRM), Microsoft Corporation (NASDAQ:MSFT), and Amazon.com, Inc. (NASDAQ:AMZN) are some top big data analytics companies.
