“The Data Analytics Market has been estimated to reach USD 24.63 billion in 2021, and it is anticipated to grow at a CAGR of 25% over the predicted period. The analyzing of raw data in order to make conclusions from that information is referred to as data analytics. The important information can be used to optimize the processes to increase the overall efficiency of a system or business. This can be done by various techniques to reveal trends and metrics that would otherwise be lost in the mass of information.
New Research on the Data Analytics Market was conducted across a variety of industries in various regions to produce more than 300+ page reports. This study is a perfect blend of qualitative and quantifiable information highlighting key market developments, industry and competitors’ challenges in gap analysis and new opportunities and may be trending in the Data Analytics Market. Some are part of the coverage and are the core and emerging players being profiled. The key market players are: IBM Corporation, Microsoft, Oracle, SAP SE, Amazon Web Services, Tableau Software, SiSense Inc, Zoho Corporation, ThoughtSpot, Mu Sigma, Looker Data Sciences, Datameer Inc, Alteryx Inc, Dell Inc, and SAS Institute.
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In addition, the experts behind this study show that this well-developed record is a development of high-end research activities and a compilation of evaluations of a variety of key components acquired by different instruments that are gradually shaping the growth of the Data Analytics industry. Furthermore, the study covers the evaluation of the degree of geographical growth, sector size, investment data, market value and benefit analysis.
Key Factors Impacting Market Growth:
The growing volume of raw data from various sources will help boost the growth of the data analytics market. For instance, the healthcare segment has a large volume of unstructured and structured data which need to be analysed in order to make quick decisions. Other business segments where large amount of data needs to be handled rapidly are retail industry, media & entertainment, IT sector, and others. However, the cost of data storage and data tools are high. Further, the privacy issues related to data extraction are restraining the growth of the market.
The demand for technologies like big data, IoT, machine learning, artificial intelligence and other integrated advanced technologies will help the market to grow rapidly and also open up new job opportunities in most industries. For instance, according to the report by World Economic Forum in 2018, 85% of companies will adopt data analytics and big data by 2022, which will generate jobs with related roles.
Key Developments:
• Nymbus, U.S. based financial service platform announced in April 2021 about its collaboration with Segmint, data and Analytics Company to enhance its transaction across its banking services and products.
• In April 2021, Tredence Inc, leading AI analytics Service Company launched ML Works, state of art machine learning platform for engineers, data scientists and analysts.
• In March 2021, Exasol, analytics database company won the title of “Overall Data Analytics Company of the Year” in 2021 Data Breakthrough Awards. The program is conducted by independent market intelligence organization, Data Breakthrough.
Following are the insights contained in the report:
Product Development and Innovation
Detailed insights on the upcoming technologies, product launches as well as research and development activities in the global market.
Market Penetration
In-depth information on the product portfolios of the key market players in the global Data Analytics market.
Market Development
Comprehensive analysis of the emerging market. The report also studies the market for different segment of the regions. The Data Analytics Market is segmented By Type (Predictive, Prescriptive, Descriptive, Customer and Others), Solution (Data Management, Fraud And Security Intelligence, Data Monitoring And Data Mining), Deployment (On-Premises And Cloud), Function(Marketing Analytics, Sales Analytics, Accounting & Finance Analytics And Others), Organization Size (Large Enterprises And Small & Medium Enterprises), Application (Supply Chain Management, Database Management, Human Resource Management, and Others), End-use Industry (BFSI, IT & Telecom, Retail & E-Commerce, Manufacturing, Energy & Power, Healthcare, Transport & Logistics and Others)
Market Diversification
Exhaustive details about the new product design, development, untapped geography as well as investment in the Data Analytics Market. Regions covered in this report are:
North America: US, Canada, Mexico,
Europe: Germany, Russia, UK, France, Italy, Spain, the Netherlands, Rest of Europe
Asia Pacific: China, India, Japan, South Korea, Australia, Indonesia, Rest of Asia Pacific
Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
South America: Brazil, Argentina, Colombia, Rest of South America
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Quantifiable data:
• Data Analytics Market Market Data Breakdown by Key Geography, Type & Application, / End-User
• Data Analytics Market By type
• Data Analytics Market Market-Specific Applications Sales and Growth Rates (Historical & Forecast)
• Data Analytics Market revenue and growth rate by market (history and forecast)
• Data Analytics Market market size and growth rate, application and type (past and forecast)
• Sales revenue, volume and Y-O-Y growth rate (base year) of Data Analytics Market market,
Key Pointers Guide for Market Research Report:
● The market research report provides an in-depth overview and analytical response gauging into the changing dynamics of the global Data Analytics Market market. The vendor landscape has also been analysed to study every minute details and its impact in traversing a healthy growth outlook.
● A detailed evaluation and assessment by shedding light on the historical growth tendencies and current developments have been monitored closely and penned in the report for ensuring future-ready vendor activities which encourage growth through the forecast span.
● It acts as a guide to aspiring new entrants and competent players to attain decisive perspectives leveraging growth as well as investment returns.
● A section on the geographical scope and developments have been roped in the report maximum reader understanding.
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Key Questions Answered In The Report:
● What are the various market segments mentioned in the report?
● What is the current market size of the global market?
● What are the competitive landscape and the role of the leading market players?
● What is the market forecast and how will this affect the global market?
● What are the major drivers and how will they affect market?
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