Market Highlights:
The global data analytics market is set to grow from USD 12.01 Billion in 2016 to USD 77.64 Billion in 2023. Cost reduction, faster decision making and new product or service launch are the key features in which data analytics can be very helpful. High adoption rate of technology and growing data analytics requirement are the prime drivers of data analytics market.
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.).
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:
The regional analysis of Data Analytics market is studied for North America, Europe, Asia Pacific and Rest of the World. North America is a leading player in the market of Data Analytics due to early adoption of technologies such as big data analytics, internet of things, and others which help in predictive analysis. Also, majority key players providing the data analytics solution are from the same region who are constantly innovating and investing in research and development activities in order to create cost-effective product portfolio. With rapid advancements in digitization and information technology in countries such as China, India and Japan; the Asia Pacific region is expected to grow at highest CAGR in Data Analytics market.
Segmentation:
The global data analytics market has been segmented based on type, solution, application, industry, deployment, organization size and region. By type, the predictive analytics segment accounted for the largest market share in 2016. By solution segment, the data management segment is expected to hold a largest market share over 2023. The segment is also expected to witness the highest CAGR during the forecast period. Data management is referred to the process of organizing and maintaining data processes to meet organizations’ information needs. The data management solution provides organization and classification of entire data and in fast retrieval of data. The data management solution also provides integration of data that combines different types of data. By application, the enterprise resource planning segment accounts for the largest share of the data analytics market and is expected to exhibit the highest CAGR during the forecast period. Data analytics plays a key role in structuring ERP data. It has become extremely important for manufacturers across various industrial verticals to adopt predictive analytics to leverage the potential of their data to gain profits, increase revenues, optimize costs, and gain competitive advantage. Implementing predictive analytics on large ERP data leads to greater profitability.
Competitive Landscape
The global market for Data Analytics is occupied by various players namely IBM Corporation, SAS Institute, Oracle Corporation, Amazon Web Services, Microsoft Corporation, SAP SE. These companies collectively accounted for more than 54.85% share of the global data analytics market in 2016. These companies are likely to maintain their strong global presence through expansion, merger & acquisition, and extensive product portfolio.
SAP SE is one of the most competitive players in this market. The company has two major focus areas – digital innovation and customer satisfaction. The company’s strategy is to continue developing new and market-leading applications, invest in disruptive technologies, and focus on mergers and acquisition to meet the targets.
SAS Institute stood at the 5th position in the global data analytics market. The company focuses on increasing investment twice the percentage of annual revenue into R&D than its competitors. They focus on delivering new products with latest technologies. The company’s strategy also includes partnerships with different organizations to develop new products.
The key players such as IBM Corporation, Oracle Corporation, SAP SE and others rimarily focus on the development of advanced data analytics. Although the international players are dominating the market, regional and foreign players with small market shares also have a prominent presence here. The major players may strengthen their presence worldwide through acquisitions during the forecast period. It has also been forecasted that improvements in the global economic scenario combined with technology adoption and subsequent advancement in the emerging economies is fueling the market growth, thereby making it an ideal time to launch advance data analytics and increase the global market share.
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Intended Audience
- 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)
Continued….
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)
Continued….
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