Performance Analytics Market – Overview:
Performance analytics can be explained as the methodology by which an organization can line up their resources to achieve operational as well as performance goals. The benefits of implementing performance analytics are quality assurance and strategizing objectives of the organizations in order to cut down operational costs.
According to Market Research Future Analysis, Performance Analytics Market has been valued at USD 4 billion by 2022 growing with 20% of CAGR during forecast period 2016 to 2022.
The process by which organizations can line up their resources and employees to strategize their operational goals can be defined as performance analytics. Performance analytics is used to understand an organizations current scenario and to predict business trend for the future. Hence, quality assurance can be achieved by performance analytics solutions.
Factors such as high demand for improvement in quality of performance, increasing usage of various analytics tools, increasing need for organization’s satisfaction and to generate insights from increasing volume of data are driving the growth of the performance analytics market. Whereas, security issues and error prone data are hindering the growth of the performance analytics market.
For instance, in May 2017, Association of Clinical Research Professional announced a joint initiative with CRO analytics to provide various healthcare research organizations with insights of performance analytics so that healthcare or clinical research improves. It was done to understand and improve the quality of resources.
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Major key players
The key players in the global performance analytics market include Siemens AG (Germany), Adaptive Insights (U.S.), Xactly Corporation (U.S.), Oracle Corporation (U.S.), SAP SE (Germany), SAS Institute Inc. (U.S.), Optymyze (U.S.), Callidus Software, Inc. (U.S.), IBM Corporation (U.S.), Service Now, Inc (U.S.), among others.
Market Research Future Analysis
The global performance analytics market is expected to grow significantly. The market is highly application basis. Retail and BFSI segment of performance analytics market globally drives the market. The market is expected to have higher growth rate as compared to the previous years.
North-America accounted for the largest market share because of technological advancements, increasing demand by various sectors, large investments by developers for cloud based solutions and increasing number of large players.
However, Asia-Pacific region is expected to grow over the forecast period, 2016-2022. The reason of this growth is attributed to rapid digital transformation in various countries such as China and increasing demand for performance analytics solution by small & medium scale enterprises.
For the purpose of this study, Market Research Future has segmented the market of performance analytics into component, application, deployment, end-users and region.
- Software as a Service
- Sales Analytics
- Marketing Analytics
- Supply chain Analytics
- Financial Analytics
- Employee Analytics
- IT Analytics
- IT & Telecommunications
- Energy & Utilities
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- Research firms
- Consultancy firms
- Software Developers
- Software Vendors
- Semiconductor Manufacturers
- End-user sectors
- Technology Investors
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