The global optocoupler IC market size is expected to grow from USD 1.86 billion in 2018 to USD 2.55 billion by 2025, at a CAGR of 6.5% during the forecast period. Factors such as an increase in demand for electric and hybrid vehicles, rising demand for factory automation systems, and growth in the consumer electronics industry are expected to drive the demand for optocoupler ICs across the globe.
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Operational analytics simply put is a technological device for industries to improve their efficiency by boosting transactions, increasing competitive spirit, augmenting decision-making capacities and eliminate the risk of fraudulent processes. Analytical techniques utilize tools such as aggregation, mining and data extraction for churning out useful information from raw data. Some of the key benefits of using operational analytics include increased profits, better decision making, competitive advantage, customer satisfaction, streamlining data, holistic operations and better employee engagement.
There are ample factors that is boosting the growth of the operational analytics market. These factors as stated by the Market Research Future (MRFR) report include network and security management, real time log analytics, business infrastructure management, data security and seamless business integration. The additional factors that are fueling the market growth include limited cross organizational changes, decrease in cost inefficiencies, increasing consumer driven analysis, demographic connectivity, timely and meaningful decisions, valuable based insights, growing number of data centers for gathering inner data to analyze the performance of marketing data, growing utilization of mobile devices and increased IT operations data. On the contrary, complex analytical processes, organizational change, maintaining data privacy and confidentiality amid organizations, implementation of operational analytics in SMEs (small and medium enterprises) with lack of effective data management services, insufficient skilled technical experts, secure data sharing and easy data availability are factors that may hinder the growth of the operational analytics market over the estimated years.
Market Segmentation
MRFR report offers a wide segmental analysis of the operational analytics market on the basis of type, business utility, application, deployment type and verticals.
Based on type, the operational analytics market is segmented into software and service. Of these, service will dominate the market over the estimated years.
Based on business utility, the operational analytics market is segmented into human resource, finance, sales, marketing and others.
Based on application, the operational analytics market is segmented into sales and marketing management, customer management, workforce management, supply chain management, fraud detection, risk management, predictive asset maintenance and others.
Based on deployment type, the operational analytics market is segmented into on-cloud and on-premise.
Based on verticals, the operational analytics market is segmented into transportation and logistics, energy and utilities, manufacturing, retail, financial services, healthcare, government and others. Of these, manufacturing will have the largest share in the market over the estimated years.
Regional analysis
By region, the operational analytics market covers growth opportunities and latest trends across Rest of the World, Asia Pacific, Europe and North America. Of these, North America will remain at the helm over the estimated years. This is due to early use of emerging technologies namely advanced analytics, big data analytics and others. Moreover, a good number of players in this region are offering operational analytics solution. High established economies namely Canada, US and others are investing higher amounts on R&D of technologies namely big data and analytics that is fueling the market growth in this region. The operational analytics market in the APAC region is predicted to develop at a notable pace owing to government policies that is supporting industrialization and digitization in Japan, China and India. Besides, with the growing use of technologies namely internet of things, big data analytics and others, are also likely to fuel the market growth here with the highest CAGR.
Key players
Leading players profiled in the operational analytics market include Splunk (US), Bentley Systems (US), Cloudera (US), Alteryx (US)., SAP SE (Germany), Hewlett Packard Enterprise (US), SAS Institute (US), Microsoft Corporation (US), Oracle Corporation (US), IBM Corporation (US), and others.
May 2019- Syncsort has expanded its operational analytics through Ironstream for ServiceNow to provide an expanded view of the enterprise infrastructure- in the cloud and on-premise. Majority of Syncsort’s IBM and mainframe i customers are making the most of ServiceNow for availing accurate, up to date configuration information to optimize resources, improve service quality and support governance initiatives.
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