Global Advanced Analytics Market, By Type (Big Data Analytics, Business Analytics, Customer Analytics, Risk Analytics, Statistical Analysis and Others), Deployment Type (On-premise and cloud), Enterprise Size (Large Enterprises and Small and Medium Enterprises), Application (Banking and Financial Services, Telecom and IT Services, Healthcare, Government and Defense, Transportation and Logistics and Consumer Goods and Retail), 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 2029.
Surge in the adoption of advanced technologies such as artificial intelligence and internet of things, growing public and private investments in the software and services that yield seamless data processing especially in the developing economies and rising demand for industrial automation services and solutions are the major factors attributable to the growth of the advanced analytics market. Data Bridge Market Research analyses that the advanced analytics market will exhibit a CAGR of 22.61% for the forecast period of 2022-2029. Therefore, the advanced analytics market value would stand tall by USD 84.48 billion by 2029.
Advanced analytics is a technology that is used for the purpose of examination and analysis. Advanced analytics is used for its sophisticated quantitative techniques such as statistics, descriptive and predictive data mining, simulation and optimization.
Rising volume of organizational data will emerge as the major market growth driving factor. Surging number of small and medium scale enterprises in the developing economies, growing technological advancements in the analytical tools, rising digitization of economies and rising advent of cloud technology will further aggravate the growth of the market. Rising adoption of analytics by the various end user verticals such as banking, financial services, and insurance and growing public expenditure for the development of IT infrastructure are some other factors bolstering the growth of the market.
However, lack of skilled workforce and technological expertise in underdeveloped and developing economies and lack of standardization will act as a growth restraint for the market. Also, lack of awareness in the backward regions will yet again hamper the market growth rate. Lack of a strong IT infrastructure in the underdeveloped economies and technical misspecifications or technical faults while operating will also hamper the market growth rate.
This advanced 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 advanced 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 Advanced Analytics Market Scope and Market Size
The advanced analytics market is segmented on the basis of type, deployment type, enterprise size and application. 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.
Based on type, the advanced analytics market is segmented into big data analytics, business analytics, customer analytics, risk analytics, statistical analysis and others.
On the basis of deployment type, the advanced analytics market is segmented into on premise and cloud.
On the basis of enterprise size, the advanced analytics market is segmented into large enterprises and small and medium enterprises.
On the basis of application, the heavy-duty connector market is segmented into banking and financial services, telecom and IT services, healthcare, government and defense, transportation and logistics, consumer goods and retail. Based on banking and financial services, the advanced analytics market is sub-segmented into regulatory reforms, customer profitability, operational efficiency, risk management, credit risk analysis, fraud detection and management, budgeting and planning and process optimization. Based on telecom and IT services, the advanced analytics market is sub-segmented into targeting offer and campaign management, cell site optimization, revenue assurance, customer profitability analysis, network dynamics and congestion control and social network analysis. Based on healthcare, the advanced analytics market is sub-segmented into predictive modeling, financial performance and monitoring and fraud detection and management. Based on government and defense, the advanced analytics market is sub-segmented into fraud detection and management, defense health and scenario planning. Based on transportation and logistics, the advanced analytics market is segmented into inventory optimization, supply chain planning, sales and operational planning and quality lifecycle management. Based on consumer goods and retail, the advanced analytics market is sub-segmented into price optimization, customer insight, planning and organization, merchandize planning and size optimization.
Advanced Analytics Market Country Level Analysis
The advanced analytics market is segmented on the basis of type, deployment type, enterprise size and application.
The countries covered in the advanced 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 dominates the advanced analytics market and will continue to flourish its trend of dominance during the forecast period owing to the adequate availability of the supporting infrastructure required for the implementation of cutting-edge analytics. Asia-Pacific will continue to undergo substantial gains during the forecast period and score the highest CAGR. This is because of the growing expenditure for the development of IT infrastructure and surging number of small scale businesses.
The country section of the advanced 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 Advanced Analytics Market Share Analysis
The advanced 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 advanced analytics market.
Some of the major players operating in the advanced analytics 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 others.