Data Analytics Market Analysis, Cost, Production Value, Price, Gross Margin and Competition Forecast to 2027 | Coronavirus Effects

 Market Highlights

Data analytics is the process that involves analyzing, storing and collecting large data sets to discover trends and more useful information that can be used for relevant business decisions. In the recent times, companies have implemented big data analytics to increase the organization's sales, customer service, enhance logistics, improve efficiency, and risk management in the crisis caused due to COVID 19 pandemic. During this situation, most of the big companies are working from home, data analytics is being a vital aspect for the businesses to make its revenue amid lockdown worldwide. This scenario is making the market of data analytics more and more stable despite world pandemic caused by COVID 19.

Data analytics leverages cutting edge algorithms to enable management in making efficient decisions. Market Research Future (MRFR) has offered an assessment which unravels that the global data analytics market is expected to garner a valuation of USD 77.64 Bn by 2023 up from USD 12.01 Bn in 2016. It is also expected that the global market I presumed to strike a CAGR of 30.08% over the forecast period 2017 to 2023.

As per research, while the year 2019 has been a tremendously eventful year for data analytics, 2020 is estimated to be the year of data! The mount in the adoption of this aspect of data analytics, including machine learning and AI solutions has skyrocketed data analytics generation, and its need robust implementations have scored the market’s value to a great extent.

The global data analytics market has witnessed continuous and robust augmentation in the past few years and is proposed to continue this same path. Under the assistance of data analytics, organizations are now efficiently leveraging data in extracting essential insights, which can be used to generate actionable decisions. In the past some years, data analytics has been primarily used to empower organizations to make the most profitable business choices. All these factors have also contributed to the growth of the market.

The big data analytics market is also driven by organizations that realize the operational advantages of using analytics solutions that authorize organizations to target better consumers, enterprise-grade security, surge access to cloud-based models, continue vendor consolidation, and data governance solutions offered by market vendors. As per the same study, the key trends impacting the data analytics market is the Internet of Things (IoT) adoption and proliferation of data, data fuelling machine learning and AI growth, as well as data strategy becoming central to C-level business planning.

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Regional Front

South America, North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Rest of the World are the major regions studied for the market’s growth.

Among these, the North America region, predominantly the US, is leading and is possible to sustain its leadership in the coming years with 80% of the investment from the major players existing in the region. North America led the data analytics market in 2018 and is likely to maintain its position over the assessment period. The main factors are encouraging market growth in this area with the rise in cloud services adoption in various industries and the adoption of advanced analytics solutions among SMEs.

Owing to the mounting saturation of data analytics giants in the Asia Pacific and Europe are also the factor behind high investment in the market.

Segmentation:

Based on type, the segments of the global data analytics market are predictive analytics, prescriptive, analytics, descriptive analytics, customer analytics, and others. Among these, the predictive segment held the largest share in 2016 and is expected to maintain its holding over the next few years.

On the basis of solution, the segmental assessment of the data analytics market covers data management, data visualization, data mining, fraud & security intelligence, and data monitoring. The data management segment is expected to lead the growth of the market in the years to come.

By application, the segments of the global data analytics market identified in this MRFR report are ERP, SCM, HRM, and database management. Among these, the ERP segment accounts for the maximum share of the market and is anticipated to exhibit the highest CAGR across the projection period.

On the basis of industry, the segments of the data analytics market are BFSI, it & telecom, manufacturing, retail & e-commerce, energy & power, healthcare, transport & logistics, media & entertainment, and others.

Based on deployment, the global data analytics market has been divided into cloud, on-premise

By organization size, the key segments of the data analytics market are small & medium enterprise, and large enterprise.

Top Players

SAP SE (U.S.), Microsoft Corporation (U.S.), Oracle Corporation (U.S.), Looker Data Sciences, Inc. (U.S.), Amazon Web Services Inc. (U.S.), Dell Inc. (U.S.), SAS Institute Inc. (U.S.), Datameer Inc. (U.S.), Alteryx, Inc. (U.S.), and IBM Corporation (U.S.).

Browse Complete Report @ https://www.marketresearchfuture.com/reports/data-analytics-market-1689

Global Data Analytics Market, By Type (Predictive, Prescriptive), Solution (Data Management, Data Visualization), Application (ERP, SCM), Industry (BFSI, IT & Telecom, Manufacturing), Deployment (Cloud, On-Premise), Organization Size – Forecast (2017-2023)

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.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

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