Global Analytics Market, By Type (Big Data Analytics, Business Analytics, Customer Analytics, Risk Analytics, Statistical Analysis and Others), Deployment Mode (Cloud and On- Premises), Organization Size (Small and Medium-Sized Enterprises and Large Enterprises), End User Industry (Banking, Financial Services, and Insurance, Government, Retail, Healthcare, IT and Telecom, Military and Defence and Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Analytics Market
Data Bridge Market Research analyses that the analytics market will exhibit a CAGR of 15.20% for the forecast period of 2021-2028. Rising adoption of analytics by the various end user verticals such as banking, financial services, and insurance, government, retail, healthcare, IT and telecom, military and defence and others for the purpose of seamless data processing and make prompt decisions to maintain their competitive edge is a major factor propelling the growth of analytics market.
In simple terms, analytics is an examination or analysis of data. This is done with the help of sophisticated techniques and tools such as artificial intelligence, data mining, machine learning, semantic analysis, neural networks and multivariate statistics. Analytics means extracting the meaning and examining the raw data sets using scientific models, hypothesis and theories. Analytics incorporates the use of data and math to discover relationships, answer business questions and make predictions and forecast against uncertainties. Analytics offers effective decision making and improves the efficiency of operations.
Rising expenditure for research and development activities on analytics is creating lucrative growth opportunities for the market. Rising demand to streamline the business operations and improve the business efficiency will further induce growth in the analytics market. Rising technological advancements in the analytical tools coupled with rapid emergence of advanced analytical tools is one of the key factors fostering the growth of the market. Rising adoption of connected devices by medium and small scale enterprises will also propel growth in the demand for analytics. Rising digitization of economies especially the developing ones is another growth opportunity for the analytics market.
However, dearth of skilled professionals or trained personnel will pose a major challenge to the growth of analytics market. Lack of sound IT infrastructure in low and middle class economies will further create hindrances for the growth of analytics market.
This analytics market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on analytics market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Analytics Market Scope and Market Size
The analytics market is segmented on the basis of type, deployment mode, organization size and end user industry. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of type, the analytics market is segmented into big data analytics, business analytics, customer analytics, risk analytics, statistical analysis and others.
- On the basis of deployment mode, the analytics market is segmented into cloud and on- premises.
- On the basis of organization size, the analytics market is segmented into small and medium-sized enterprises and large enterprises.
- On the basis of end user industry, the analytics market is segmented into banking, financial services, and insurance, government, retail, healthcare, IT and telecom, military and defence and others.
Analytics Market Country Level Analysis
The analytics market is analysed and market size, volume information is provided by country, type, deployment mode, organization size and end user industry as referenced above.
The countries covered in the analytics market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America holds a prominent share in the global analytics market owing to the earliest adoption of advanced technological solutions such as artificial intelligence and machine learning. Also, the dominance is a result of prevalence of major key players spread across countries in this region. The USA and Canada have emerged to be the major contributors. Asia-Pacific on the other hand is projected to score the highest CAGR for the forecast period owing to increased adoption of analytics solutions by the various end user industries.
The country section of the analytics market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Analytics Market Share Analysis
The analytics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to analytics market.
The major players covered in the analytics market report are IBM, Oracle, Microsoft, SAP, Genetec Inc., INRIX, Teletrac Navman US Ltd, Inseego Corp., PROCON ANALYTICS., IMS Software, Inc., CloudMade, The Infinova Group., Azuga., Noregon., Acerta Analytics Solutions, Inc., KEDACOM, Xevo, AGNIK LLC., Plotly., Inquiron. and Hewlett Packard Enterprise Development LP among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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