Embedded Analytics Market to Reach 77 Billion By 2026: Special Report from FNF Research

Facts and Factors have authored "Embedded Analytics Market By Component (Software and Services), By Deployment (Cloud and On-Premise), By Application (Human Resource, Sales & marketing, operations, Finance and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2019-2026".

According to research analysis, the global Embedded Analytics market in 2019 is approximately USD 30 Billion and is anticipated to reach around USD 78 Billion by 2026. The anticipated CAGR for the Embedded Analytics market is around 14% from 2020 to 2026.

Embedded analytics is the combination of capabilities and analytic content directly into the application. It can also be termed as the integration of reporting capabilities and business intelligence within business process applications. It also provides appropriate information and analytical tools which are designed so that users can work smartly and efficiently in the day to day application use.

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Embedded analytics capabilities include dashboards and data visualizations, self-service analytics and ad hoc querying, static and interactive reports, mobile reporting, benchmarking, predictive analytics and visual workflows.

Embedded analytics also delivers better analytics that helps in increasing the product quality and decision making for an organization. Some of the advantages of embedded analytics include:

o It aids as a revenue generator which helps in providing potential advancement in licensing for analytical modules.
o The software provides insights and other analytical objects on the dashboard, allowing the user to take quick action.

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The organizations are always keen to crack the most valuable insights into the large volume of collected data. To make better decisions employees need to analyze and explore the available data, which would require applications that are integrated with analytics, to help them extract information from raw data. The rising need for analytics has altered the expectations of employees. They expect the applications to be equipped with customizable dashboards and reports, with quick and easy interaction of data sets.

Increasing variations and complications in data sets are generating demand for embedded analytics to facilitate users to gain the insight they need, without a delay. It is important to have relevant information in the context of the applications which people use every day to build a data-driven organization the embedded analytics offers software and services which can be used to analyze and process data in an application to generate actionable insights. Thus, the rise of data-driven organizations is likely to drive the growth of the embedded analytics market in the forecast period.

The surging adoption of embedded analytics by numerous organizations for various applications is surging. However, it is vital to integrate a data management system with an established legacy and proven systems. These legacy systems might have major flaws, as these systems do not contain well-defined interfaces and their documentation is infrequent. Nevertheless, there are several benefits of implementing embedded analytics technology, the cost involved in replacing traditional systems with appropriate embedded analytics software in the organization coupled with maintaining and training the employees on using it remains very high.

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Digitalization in the Asia Pacific region has led to an increase in the usage of technology for various business processes in the past few years. Increasing usage of online platforms by businesses along with analytical software and technologies to take accurate decisions to stay ahead of competitors. With the adoption of the technologies such as artificial intelligence along with business intelligence tools to access structured or unstructured datasets to perform analysis and derive actionable business, based on which data scientists to take tactical business decisions.

The Embedded Analytics Market is segmented based on Analytical Tool, Component, Deployment, and Application. By Analytical Tool the market is divided into Reporting, Self-Service Tools, Dashboard and Data Visualization, Benchmarking. Out of all the segments of Analytical Tool, Reporting has the biggest market, and according to reports generated by our MRS team its market share in 2019 is approximately 37% and is anticipated to reach around 40% by 2026. The anticipated CAGR for reporting is around 16% from 2020 to 2026.

Component-wise, the market is classified into Software and Services. Out of both the component-wise bifurcation, the software has the largest market size with 77% of global market share in 2019 and the anticipated CAGR of 14% from the year 2020 to 2026.

In terms of Deployment, the market segment is sectored into Cloud and On-Premise. Out of both the sectors cloud sector has the maximum market size with 76 % of global market share in the year 2019 and is expected to reach up to 77% by 2026. The expected CAGR for Cloud sector is around 14% from 2020 to 2026

On the basis of Application, the market is bifurcated into Human Resource, Sales & marketing, operations, Finance, and Others. In the application market, the operations segment has the highest market size with around 34% of the global market share in 2019 and is anticipated to decline at a slow pace with 30% by 2026. The expected CAGR for sale & marketing is the highest and is expected around 15% from 2020 to 2026.

Furthermore, in region-wise segmentation is bifurcated into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. Amongst all North America has the largest market size with 39% of global shares in 2019. The fastest-growing region is Latin America with a CAGR of 16% from 2020 to 2026.

Key players operating in the embedded analytics industry are IBM Corporation, SAP SE, SAS Institute Inc, Sisense, Oracle Corporation, MicroStrategy incorporated, TIBCO software, Logi Analytics, Microsoft Corporation.

This report segments the Embedded Analytics Market as follows:

Global Embedded Analytics Market: By Component Segment Analysis

Software
Services

Global Embedded Analytics Market: By Deployment Segment Analysis

Cloud
On-premise

Global Embedded Analytics Market: By Application Segment Analysis

Human Resource
Sales & marketing
Operations
Finance
Others

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