Data Analytics Market Size, Key Players Analysis, Business Growth, Regional Trends, Development Status, Sales Revenue and Comprehensive Research Study Till 2023
Market Research Future published a Cooked research report on “Global Data Analytics Market” – Market Analysis, Scope, Stake, Progress, Trends and Forecast up to 2023
Pune, India – November 7, 2018 /MarketersMedia/ —
Market Highlights:
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 of paramount importance for any business. It is a means through which a firm can capitalize on the data that they have collected over the years. When it was first discovered, not many were aware of its numerous advantages. But now, as more and more people are discovering the many benefits associated with it, the demand for this procedure has shot up. This in turn, has provided that much needed push to the global data analytics market.
In simple terms, data analytics is used to interpret and discovery sensible patterns in any given data. This pattern can then be utilized to form a completely new strategy and boost any given business. This procedure is comprehensive and comprises of methods like operations research, statistical analysis and computer programming.
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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.) and IBM Corporation (U.S.).
The report provides a comprehensive analysis of the market structure along with future assessment for the next five years of various segments and sub-segments of the data analytics market
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.
Regional Analysis:
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.
Segmentation:
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.
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Intended Audience
• Data Analytics Companies
• Analytics Service Providers
• Software Developer Companies
• Service Providers
• Manufacturing Companies
• Big Data Analytics Service Providers
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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Contact Info:
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Organization: Market Research Future
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Source: MarketersMedia
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