The report projects that the global market for data analytics will exhibit a CAGR of 30.08% during the forecast period (2017-2023) to surpass a valuation of USD 77.64 billion. This market has witnessed yet another year of steady growth in 2017. Data analytics techniques are widely used in commercial industries to enable organizations to make more productive business decisions. The data analytics tool help businesses increase revenue, improve operational efficiency, optimize marketing campaigns, respond faster to emerging trends and gain a competitive advantage.
Data analytics is used to identify the probability of future outcomes based on historical data and trends using statistical algorithms and machine learning techniques. It aims to leverage the existing database for assessment of future probabilities.
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Major Key Players
- Microsoft Corporation (U.S.),
- SAP SE (U.S.),
- Amazon Web Services Inc. (U.S.),
- Oracle Corporation (U.S.),
- SAS Institute Inc. (U.S.),
- Dell Inc. (U.S.),
- Alteryx, Inc. (U.S.),
- Datameer Inc. (U.S.),
- Looker Data Sciences, Inc. (U.S.)
- IBM Corporation (U.S.).
According to MRFR, the report projects that the global Data Analytics Market for will exhibit a CAGR of 30.08% during the forecast period (2017-2023) to surpass a valuation of USD 77.64 billion.
Market Xcel Data Matrix (India) has announced the creation of a data analytics proposition by setting up a division that includes data scientists and consultants for utilization of smart analytics and data modeling.
Publicis Health (U.S.), the health division of Publicis Group, has acquired Payer Sciences, a data analytics health marketing agency.
In 2016, North America accounted for the largest share of the global data analytics market and is expected to retain its position over the review period. Demand for data analytic services has conituned to grow in the U.S. and Canda in recent years. This is mainly attributed to the generation of large volume of unstructured data from smart connected devices and industrial Internet of Things (IoT), which is being synchronized using end-to-end analytical tools. Adoption of predictive analytics in big data by the e-commerce sector in the region is also contributing to the growth of the North America data analytics market.
In Asia Pacific, economic development coupled with the growth of the IT & BFSI sector has spurred a strong demand for data analytics tools. It is also projected to be the fastest growing market for the data analytics. High demand in BFSI, IT & telecommunication, retail, healthcare, food & beverage and government sector is creating growth opportunities for market players. Other factors such as growing technology expenditures in countries such as China and India, and demand for cost-effective advanced analytical software and services among small and medium-sized enterprises (SMEs) also influence the region’s market.
The report delivers hard-hitting market facts and historical market trends along with correlations between the market dynamics and forecasts. In this report, the user will also come across an in-depth segmental analysis of the market based on type, solution, application, industry, deployment, organization size, and region, delivering valuable insights. The report also explores market dynamics such as drivers, trends, opportunities, and restraints, influencing the growth pattern of key market segments. The section also sheds light on the key micro and macroeconomic factors impactig the overall growth of the market.
By type, the market has been segmented into predictive analytics, prescriptive analytics, descriptive analytics, and customer analytics. By solution, the market has been segmnted into data management, fraud & security intelligence, data mining, data visualization, and data monitoring. By application, the market has been segmented into enterprise resource planning, supply chain management, human resource management, database management and others. All the segments and sub-segments are profiled under six major geographies– North America, South America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Rest of the World, with the respective country-level market sizes. For the scope of the research, the definition of the product/ service “data analytics ” is also included in the report. The report discusses the current prospects of the market and delivers an unbias growth assessment.
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- Data Analytics Companies
- Analytics Service Providers
- Software Developer Companies
- Service Providers
- Manufacturing Companies
- Big Data Analytics Service Providers
List of Tables
TABLE 1 MARKET SYNOPSIS
TABLE 2 LIST OF ASSUMPTIONS
TABLE 3 GLOBAL DATA ANALYTICS MARKET, BY TYPE, 2016-2023 (USD MILLION)
TABLE 4 GLOBAL DATA ANALYTICS MARKET, BY SOLUTION, 2016-2023 (USD MILLION)
TABLE 5 GLOBAL DATA ANALYTICS MARKET, BY APPLICATION, 2016-2023 (USD MILLION)
TABLE 7 GLOBAL DATA ANALYTICS MARKET, BY INDUSTRY, 2016-2023 (USD MILLION)
List of Figures
FIGURE 1 GLOBAL DATA ANALYTICS MARKET: MARKET STRUCTURE
FIGURE 2 KEY TAKEAWAYS OF THE DATA ANALYTICS MARKET
FIGURE 3 NORTH AMERICA MARKET SIZE & MARKET SHARE BY COUNTRY (2017 VS 2023)
FIGURE 4 EUROPE MARKET SIZE & MARKET SHARE BY COUNTRY (2017 VS 2023)
FIGURE 5 ASIA PACIFIC & MARKET SHARE BY COUNTRY (2017 VS 2023)
FIGURE 6 REST OF WORLD MARKET SIZE & MARKET SHARE BY COUNTRY (2017 VS 2023)
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