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Operational Analytics Market Global Analysis and Forecasts 2024 –Aims, Bay Dynamics, CA Technologies, IBM Corporation, Riverbed, SAS, Microsoft Corporation, Solarwinds, and Zenoss.
Operational Analytics Market
Operational Analytics Market size is witnessing an upsurge due to the transition from traditional business to advanced business intelligence techniques. Operational analytics offers significant benefits for optimizing daily business operations. It helps in reducing the operating time and provide real-time data streaming.
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On-demand operational analytics is witnessing a huge demand owing to the cost-effective and timely services it provide, which are mainly used by the small and medium scale enterprises. Increasing demand in retail, IT, and healthcare sectors offers immense growth potential over the forecast period.
The adoption of cloud-based technology is fueling the industry growth. The usage of this technology makes the operational process cost-effective and provides hassle-free maintenance of data. The adoption of IoT-enabled devices has increased to fetch important information and provide advanced features. The growing industry of connected devices is accelerating the operational analytics market share. Factors, such as operations optimization, usage of advanced data management technologies, and a huge focus on competitive intelligence are fueling the industry demand.
By deployment, the industry is segmented into on-premise and on the cloud. The increase in the use of web services on the cloud deployment is observing a rising trend as it facilitates collaboration between partners and improves business agility. For instance, Microsoft has come up with its cloud-based analytics program, making pace toward streamline visualization.
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The industry vertical is segmented into healthcare, government, retail, manufacturing, financial services, transportation & logistics, and energy & utility. The manufacturing vertical is expected to dominate the overall industry share over the forecast time span. It analyzes and predicts data types to improve manufacturing and supply chain and utilize pre-built data solutions to optimize manufacturing and quality processes. This enhances the efficiency of the product throughout its lifecycle and provides improved products at reduced costs.
The energy and utility vertical is anticipated to grow rapidly over the forecast time span due to the need for managing real-time data obtained from sensors, RFIDs, smart meters, and smart grids.
Asia Pacific is anticipated to grow over the forecast timespan due to the rapid urbanization, increasing use of technology, a high adoption rate of the IoT, rising demand for safe & secure services, and government initiatives, such as smart cities.
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The players operating in the operational analytics market include Aims, Bay Dynamics, HPE, CA Technologies, Cloud Physics, IBM Corporation, Inetco, Riverbed, SAS Institute, Microsoft Corporation Savision, Solarwinds, and Zenoss.
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