By 2027, the big data market is estimated to grow to USD 103 billion. And by 2022, the global big data and analytics market is predicted to grow to USD 274 billion, statistics backed by Statista.
The scarcity of talent in the big data industry is being wooed by hefty pay packages, but only to those with extensive knowledge in big data tools and technologies.
However, the global crisis for shortages in big data talent is indeed good news for big data professionals as organizations battle over individuals with big data skills. With most of the companies becoming data-driven, business leaders and stakeholders are seeing an increased growth of how big data analytics is helping drive economic growth. There is a fear that is instilled and is spreading globally. Several countries have developed their strategies and are adapting this technology to advance their capabilities.
As technology grows rapidly, leaders are worried they will be left behind. The demand is predicted to rise by 28% says IBM, but the supply is drastically lagging. To cater to the needs of companies that are especially looking to hire professionals with big data skills, companies have pushed salary compensation to absurd heights.
So, if you’re looking to spearhead your career in big data analytics, it’s time you need to be picky and choose the best country to work for and negotiate great salary compensation.
Here’s the list of the top best countries desperate to hire big data talents: –
The UK is expected to experience a rise in big data technologies in the foreseeable future. Though the focus is specifically made toward the UK, it is said to cause a positive impact on the other European regions as well. Based on research, the telecom industry is considerably doing great by adopting big data solutions. However, other sectors are yet to catch up, having said that, retail banking is predicted to overtake the telecom industry soon.
Japan has been flooded with big data due to the sudden influenced by multiple factors and opportunities. There has been a drastic rise in the application of social media through which the study of customer behavior is done in order to make effective business strategies.
The rise of big data in Japan has escalated huge job opportunities in the field of big data analytics.
The United States
In the US, the collection of data from unstructured sources is one major factor that has caused the rise of big data. And since several sectors are using the social network, weblogs, and mobile phones today, it has caused the applications and websites to generate a large amount of data. The data collected from such sources are further used to predict future happenings or to build business strategies.
The current US market has given an additional edge to the market by collecting data, converting it, and analyzing these raw data, and convert it into actionable insights.
Major factors like technology integration and policy support are the key drivers toward the growth in big data in China. It is also expected that the big data revenue will grow at a CAGR of 23.5% within the period of 2019-2020. An estimation is made stating that China’s big data market will likely hit the US by USD 22.49 by the year 2023.
Banks, telecoms, and large retailers are the largest consumers in the country’s big data industry. The major drawback of development in big data is due to the shortage of qualified big data professionals, lag of experience of implementation made by Russia as well as high costing in solutions. However, according to IRI, it is said that the big data market will grow tenfold to 300 billion rubles within the next few years (2024).
Additionally, countries like India, South Africa, South Korea, Canada, and the Middle East Region are great places to start paving your way toward the big data career.