Dark Analytics Market Projected to reach USD 867.7 million by 2023 | Key players include IBM, SAP SE, AWS, Microsoft, Symantec, Commvault

According to recent research "Dark Analytics Market by Component (Solutions, Services), Deployment Mode (Cloud, On-premises), Business Application (Marketing, Operations, Finance, Human Resources), Vertical (BFSI, Healthcare), and Region - Global Forecast to 2023", published by MarketsandMarkets, the dark analytics market size is estimated to be USD 278.3 million in 2018 and expected to reach USD 867.7 million by 2023, at a Compound Annual Growth Rate (CAGR) of 25.5% during the forecast period.

The major factors driving the growth of the dark analytics market include the rapid growth in data generated by organizations due to increasing adoption of IoT, and adoption of Machine Learning and Artificial Intelligence for dark data analysis.

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The marketing business application segment is estimated to account for the largest market share in 2018

The marketing business application segment is estimated to account for the largest market share in 2018. Marketing is one of the integral business applications of any organization. Organizations’ marketing activity generates enormous customer data through sources, such as websites, sales records, social media, and smartphones. This collected data holds the potential to be an organization’s most vital marketing resource, using which, an organization can create scalable and repeatable marketing processes. Dark analytics allows enterprises to use collected information to design tailor-made alternatives for consumers, based on their previous buying behavior. Changing enterprises focus from customer acquisition to customer experience is expected to lead to the growth of the dark analytics market for the marketing business application.

The Retail & E-commerce vertical is expected to grow at a higher rate during the forecast period

The retail and e-commerce vertical is expected to experience high growth during the forecast period. In retail industries, data is generated through multiple customer touchpoints. In addition to this, the advent of digital media for online shopping has led to the generation of a large volume of dark data. This dark data could provide vital insights to retailers. The analysis of this dark data provides growth opportunities for retailers and assists retailers to strengthen their presence in the competitive environment.

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North America is expected to account for the largest market share during the forecast period

North America is expected to account for the largest market share during the forecast period. Countries in the North American region are early adopters of the dark analytics technology. In North America, various dark analytics startups are providing services to various industries that are propelling the growth of the dark analytics market. Moreover, leading analytics and cloud service providers are based in this region. The emergence of the AI technology and machine learning, increase in the adoption of IoT, and rise in the number of business applications are key factors projected to drive the growth of the dark analytics market in North America.

The major vendors covered in the dark analytics market include IBM (US), SAP (Germany), Amazon Web Services (US), Micro Focus (UK), Dell EMC (US), Microsoft (US), AvePoint (US), Teradata (US), Symantec (US), Datameer (US), IRI (US), SAS (US), Commvault (US), Veritas (US), Cohesity (US), Datumize (Spain), SynerScope (Netherlands), Komprise (US), Lattice (US), Quantta Analytics (India), Zoomdata (US), Formcept (India), Globanet (US), Esdebe Consultancy (UK), and Levi, Ray & Shoup (US).

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