Global Embedded Analytics Market, By Component (Hardware, Software), By Services (Managed services, Professional services), By Business Function (IT, Marketing and sales, Production, Others), By Deployment Model (On-premises, On-demand), By Organization Size (Small and Medium-sized Enterprises, Large enterprises), By Industry, By Geographical Segments- Industry Trends and Forecast to 2025
Market Analysis: Global Embedded Analytics Market
The Global Embedded Analytics Market accounted for USD 24.78 billion in 2017 and is projected to grow at a CAGR of 14.5% the forecast period of 2018 to 2025. The upcoming market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
Market Definition: Global Embedded Analytics Market
Embedded analytics is the utilization of detailing and diagnostic abilities in value-based business applications. These abilities can dwell outside the application, reusing the investigative foundation worked by numerous ventures, yet should be effectively available from inside the application, without compelling clients to switch between frameworks. The integration of business intelligence (BI) stage with the application engineering will empower clients to pick where in the business procedure the examination ought to be installed. In simpler words, embedded analytics is the technology designed to make data analysis and business intelligence more reachable by all kinds of application or user organization.
Embedded analytics principally empowers the transaction process system (TPS) or the data framework to provide analytical services without being dependent on any outer or outsider diagnostic application or framework. It helps activities/IT directors in comprehension, overseeing and streamlining the execution of the framework. Implanted investigation record, report and examine each exceptional exchange, occasion or process that happens inside the TPS or data framework. The caught information is nourished into an examination dashboard and is likewise accessible in different report designs. According to report on embedded analytics by Hitachi, the organizations practicing and providing embedded analytics solutions in 2018 saw 8% growth in the deal size and 5% higher renewal rate. This means the market for embedded analytics will boom in future.
Market Drivers and Restraints:
- Rise of Data-Driven Organizations
- Higher Adoption of Self-Service Analytics
- Increasing Demand to Integrate Analytics Into Business Applications
- Lack of Integration With Legacy Systems
- Higher Replacement Cost
Market Segmentation: Global Embedded Analytics Market
- The global embedded analytics market is based on component, services, business function, deployment model, organization size, industry and geographical segments.
- By component, the market is segmented into software and services.
- By services, the market is segmented into managed services and professional services. The professional services can further be sub segmented into consulting services, education and training and support and maintenance.
- By business function, the market is segmented into IT, marketing and sales, production, finance, human resources (HR) and others (product development and legal).
- By deployment model, the market is segmented into On-premises and On-demand.
- By organization size, the market is segmented into small and medium-sized enterprises (SMES) and large enterprises.
- By industry, the market is segmented into banking, financial services, and insurance (BFSI), telecommunications and it, retail and consumer goods, healthcare and life sciences, manufacturing, government, energy and utilities, media and entertainment, transportation and logistics and others (travel and hospitality, education, and outsourcing services).
- Based on geography the global embedded analytics market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.
Competitive Analysis: Global Embedded Analytics Market
The global embedded analytics market is fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market in order to sustain in long run. The report includes market shares of embedded analytics market for global, Europe, North America, Asia Pacific and South America.
Key Players: Global Embedded Analytics Market
The renowned players in the market are Microsoft Corporation, IBM, SAP SE, SAS Institute, Oracle Corporation, MicroStrategy Incorporated, Tableau Software, TIBCO Software, Birst, Logi Analytics, QlikTech International, Sisense, Information Builders, OpenText, Yellowfin International (Australia) among others.
Research Methodology: Global Embedded Analytics Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.