Advanced Analytics Market Scenario:
The global advanced analytics market is projected to witness a rapid growth during the forecast period owing to increasing emergence of cloud-based technologies and increasing adoption of artificial intelligence. Moreover, increasing demand for advanced analytics solutions across various end users is driving the growth of the global advanced analytics market. Increasing enterprise data is one major factor driving the growth of global advanced analytics market. The growing amount of data managed by enterprises these days is opening the doors to advanced analytics techniques and is responsible for fueling the market growth.
The global Advanced Analytics Market by geography is segmented into North America, Europe, Asia Pacific, and Rest of the World. The North America market is expected to witness a significant growth and hold the largest share of the global market during the forecast period. The U.S and Canada are anticipated to drive the growth of the advanced analytics market in North America region owing to the presence of large number of established key players such as SAS Institute, IBM Corporation, Oracle Corporation, Statsoft and Microsoft Corporation in this region. Due to the sustainable and well-established economies in the region, the market is likely to show immense growth in the coming future. Additionally, North America also has a well-established infrastructure, which allows a higher penetration of devices and ultimately provides better connectivity. The growth of the market is also attributed to increasing focus on business organizations towards digital media marketing and growing adoption of advanced analytics solutions by enterprises in order to gain deeper insights of the market. In the global advanced analytics market, Asia Pacific is anticipated to witness a relatively faster adoption at the highest CAGR during the forecast period as compared to other regions owing to increasing implementation of artificial intelligence and advanced analytics techniques in order to better understand customer behavior across different countries in the region.
The global advanced analytics market is expected to grow at a CAGR of approximately 15% during the forecast period 2017-2023.
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Major Key Players:
- SAS Institute (U.S.)
- SAP SE (Germany)
- IBM Corporation (U.S.)
- Oracle Corporation (U.S.)
- KNIME AG (Switzerland)
- Statsoft, Angoss Software Corporation (Canada)
- Microsoft Corporation (U.S.)
- Fico (U.S.)
The global advanced analytics market is segmented on the basis of the type and application. However, the type segment is classified into statistical analysis, big data analytics, customer analytics, social analytics, visual analytics, risk analytics, business analytics, and predictive modeling.
The big data analytics, risk analytics, and predictive analytics are the major sub segments expected to grow at a significant rate during the forecast period. Increasing adoption of advanced analytics from enterprises is majorly driving the growth of advanced analytics market. This is owing to the increasing enterprise data which needs to be analyzed in order to derive deeper insights about the market and consumer behavior.
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North America is estimated to account for the largest share of the market, whereas Europe market is projected to grow at the fastest rate during the forecast period. The market in North America is witnessing a rapid growth due to technological advancements and increasing demand for advanced analytics across different industry verticals in this region.
The U.S. holds the majority of market share both in terms of revenue as well as owing to the increasing need to address vertical specific challenges.
- Technology Investors
- Research/Consultancy firms
- Government Bodies
- Advanced analytics solution vendors
- Third-party vendors
- Consulting service providers
- Technology providers
- System integrators
- Cloud service providers
- Big data vendors
Table of Contents
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
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List of Tables
Table 1 Global Advanced Analytics Market: By Region, 2017-2023
Table 2 North America Advanced Analytics Market: By Country, 2017-2023
Table 3 Europe Advanced Analytics Market: By Country, 2017-2023
List of Figures
Figure 1 Global Advanced Analytics Market Segmentation
Figure 2 Forecast Methodology
Figure 3 Porter’s Five Forces Analysis of Global Advanced Analytics Market
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