According to the latest report by IMARC Group, titled, “Embedded Analytics Market Growth: Global Industry Trends, Share, Size, Opportunity and Forecast 2022-2027“, The global embedded analytics market reached a value of US$ 47.8 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 108.3 Billion by 2027, exhibiting at a CAGR of 14.41% during 2022-2027.
Embedded analytics provides an interface for data visualizations, static and interactive reports, benchmarking, mobile reporting, ad hoc querying, and visual workflows. It aids in increasing overall revenue, enhancing productivity, developing data-driven decision-making, and offering a smooth user experience. As it is also used in customizing actions based on customer interactions, the demand for embedded analytics is rising around the world.
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Market Trends
The increasing need for determining profits in revenue growth, market expansion and competitive advantage in various businesses represent one of the key factors propelling the market growth. Moreover, due to a rise in demand for data-generated insights, there is an increase in the utilization of embedded analytics in advanced clinical and operational capabilities worldwide. Besides this, it is also assisting healthcare personnel in data interpretation and disease-diagnosis and patient management. Furthermore, leading manufacturers are integrating advanced technologies like artificial intelligence (AI), cloud services, Internet of Things (IoT), and machine learning (ML) to update the existing analytics variant. These developments are projected to strengthen the market growth.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
- Infor (Koch Industries Inc.)
- International Business Machines Corporation
- Logi Analytics Inc. (Insightsoftware Inc.)
- Microsoft Corporation
- Open Text Corporation
- Oracle Corporation
- QlikTech International AB
- SAP SE
- Sisense Inc.
- Tableau Software LLC (Salesforce.com Inc)
- TIBCO Software Inc
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The report has segmented the market based on solution, analytics tool, deployment mode, business function, organization size and industry vertical.
Breakup by Solution:
- Software
- Services
Breakup by Analytics Tool:
- Dashboard and Data Visualization
- Self-service Tools
- Benchmarking
- Reporting
Breakup by Deployment Mode:
- On-premises
- Cloud-based
Breakup by Business Function:
- Finance
- Human Resources
- Marketing and Sales
- Production
- Others
Breakup by Organization Size:
- Small and Medium-sized Enterprises (SMEs)
- Large Enterprises
Breakup by Industry Vertical:
- BFSI
- IT and Telecommunication
- Retail and Consumer Goods
- Healthcare and Life Sciences
- Manufacturing
- Government
- Energy and Utilities
- Others
Breakup by Region:
- North America
- Asia-Pacific
- Europe
- Latin America
- Middle East and Africa
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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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