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.
Deployment of advanced analytical techniques helps in improving the productivity and efficiency of field operations as well as optimize the organizational workforce. The tools detect and correct the errors from data sets with the help of data filtration techniques, which helps in improving the quality of data and consequently benefits both customers and institutions such as banks, insurance, and finance companies. The advantages of big data analytics mentioned above help in optimizing the overall business process.
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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.).
The Data Analytics Market Report provides a comprehensive analysis of the market structure along with future assessment for the next five years of various segments and sub-segments.
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.
MRFR applied a new but highly credible research methodology for making projections. Statistical conclusions drawn in the report are the result of an exhaustive investigation and analysis of the key market elements. A multi-level data collection procedure, which includes both primary and secondary research inputs ensures the delivery of an impactful intelligence. To support the statistical findings and projections, full-scale industry focused primary research was conducted to gain meanighful insights of the market. Primary research also includes surveys and interviews with the key personnels associated with the technology sector (VPs, CEOs, Marketing Directors, Business Development Managers and others). Additionally, the primary data collected is cross-checked using triangulation method. Secondary research was mainly employed for collecting and identifing information useful for technical, market-oriented, and commercial study of the data analytics market.
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.
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The global data analytics market has been segmented on the basis of type, solution, application, industry, deployment, and organization size. Based on type, data analytics market is segmented into predictive analytics, prescriptive analytics, descriptive analytics and customer analytics. Based on solution, data analytics market is segmented into data management, fraud and security intelligence, data mining, data visualization and data monitoring.
Based on application, data analytics market is segmented into enterprise resource planning, supply chain management, human resource management, database management, and others. Based on industry, the data analytics market is segmented into BSFI, IT and telecommunication, manufacturing, retail and e-commerce, energy and power, healthcare, transport and logistics, media and entertainment, and others. Based on deployment, the data analytics market is segmented into cloud and on premise. Based on organization size, the data analytics market is segmented into small and medium enterprises (SMEs) and large enterprises.
- 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)
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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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