Embedded Analytics Market by Deployment Model, Analytics Tool and Industry Vertical - Global Opportunity Analysis and Industry Forecast | Big Corporations Birst, IBM, Information Builders, Logi Analytics, Microsoft, Microstrategy, OpenText, Qlik, SAP, TIB
The global embedded analytics market was valued at $25,133 million in 2016, and is projected to reach $60,281million by 2023, growing at a CAGR of 13.6% from 2017 to 2023. The cloud-based deployment segment is anticipated to grow at the highest growth rate during the forecast period.
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North America was the highest revenue contributor in the market in 2016, as it offers adequate infrastructural development for the adoption of embedded analytics technology. Asia-Pacific embedded analytics market is expected to grow at the highest rate during the forecast period, owing to evolution in IT security arena, increase in cloud adoption, growth in adoption of cloud computing, surge in demand for Internet of Things (IoT) and big data, and rise in demand for enterprise mobility.
The sales & marketing business segment contributed the highest share in 2016. The segment accounted for $8,995 million in 2016 and is projected to grow at the CAGR of 13.1% during the forecast period. However, the embedded analytics market for operations is projected to grow at the highest rate of 14.2% during the forecast period. The BFSI segment accounted for the highest share of revenue in 2016, while the healthcare segment is anticipated to grow at the highest rate of 14.4%.
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The emergence of big data and IoT among organizations, increase in reliability on mobile devices and cloud technology, and surge in need to integrate data analytics with the business applications to achieve optimum performance are the major factors that drive the global embedded analytics industry. In addition, growth in adoption of bringing your own devices (BYOD), and increased demand for real-time visualization tools in business applications boost the growth of the global embedded analytics market.
The report features a competitive scenario of the global embedded analytics industry and provides the comprehensive analysis of key growth strategies adopted by the major players. The key players profiled in the study are
•Qlik Technologies, Inc.
•SAP SE and
•TIBCO (The Information Bus Company) Software Inc.
These players have adopted competitive strategies, such as geographical expansions, mergers & acquisitions, new product launches, and partnerships & collaborations, to augment the growth of the embedded analytics market.
Embedded analytics is a consumer-facing Business Intelligence (BI) and analytics tools that is integrated into software applications of a business and operate as a component of the innate application rather than a different platform. Analysis through this platform allows users to work with higher quality data and quick reporting. Analytics can be embedded into consumer portals, so that they can ask queries related to data with easy access to delivery tracking, invoices, and billing.
The global embedded analytics market size is expected to reach $60,281 million by 2023, owing to emergence of big data and Internet of Technology (IoT) among organizations, increase in reliability on mobile devices and cloud technology, and rise in need to integrate data analytics with the business applications to achieve optimum performance. The embedded analytics market is expected to witness significant growth, attributed to increase in demand for real-time streaming analysis and high demand for stand-alone self-service analytics tools.
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The cloud-based deployment segment was the highest contributor to the global embedded analytics market, in terms of revenue, and is anticipated to witness the highest growth rate during the forecast period, as large number of organizations are shifting their focus toward cloud computing and big data. Further, sales & marketing embedded analytics market generated maximum revenue in 2016, while embedded analytics in operations is anticipated to grow at the highest growth rate during the forecast period.
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