Analytics is the discovery, interpretation, and communication of meaningful patterns in data. The analysis of this collected data aids in effective decision making. This Analysis has evolved over time with the rapid adoption of technology. Smart solutions such as Big Data, Internet of Things are used to collect, digitalize and analyze data with certain parameters to take important decisions. These Analytics aids the organizations to make suitable decisions and improve overall business operations. It helps in linking, managing, processing, analysis & understanding patterns of data. It has applications in various industries such as retail & e-commerce, medical & healthcare, manufacturing, and many more. The growing need among organizations to take effective decisions and improve efficiency in operations drives the market towards growth. Further, the increasing competition among market players further fuels the market growth. Moreover, the rising number of connected devices, enhanced cybersecurity and technological advancements increases the demand for data analytics propelling the market growth. Benefits such as cost optimization, scalability, and real-time viewing also have triggered the growth of the market. Furthermore, the spread of the COVID-19 pandemic has brought the Analytics market into the frontline. As organizations across the globe are using these analytical tools to fight, contain and predict the pandemic. Researchers and developers are increasingly using natural language processing machine learning, and artificial intelligence, to track and contain coronavirus, as well as gain a more comprehensive understanding of the disease. As Big Data Analytics is being used to track the spread of the disease across the globe. As Rensselaer Polytechnic Institute (RPI) announced it would offer government entities, research organizations and industries access to innovative AI tools to aid combat COVID-19. These organizations are using big data and analytics to analyze the disease from multiple number of angles. Hence providing tremendous growth to the market. However, rising cybersecurity threats impedes the growth of the market over the forecast period of 2020-2026.
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The regional analysis of global Analytics market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to rapid adoption of technology and presence of major market players in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026. Factors such as rising number of connected devices would create lucrative growth prospects for the Analytics market across Asia-Pacific region.
Major market player included in this report are:
SAS Institute Inc.
Cisco Systems Inc.
TIBCO Software Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017, 2018
Base year – 20198
Forecast period – 2020 to 2026
Target Audience of the Global Analytics Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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