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Embedded Analytics Market Worth USD 60.281 Billion by 2023
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It offers analytics tools and relevant information for users to work effectively on a particular task. Common analytical capabilities included in the software applications are dashboard and data visualization, self-service analytics, reporting, and benchmarking. As compared to traditional business intelligence, embedded analytics offers additional awareness and analytic or contextual capabilities to support decision-making related to exclusive tasks.
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The global embedded analytics market is attributed to the emergence of big data and the Internet of Technology (IoT) among organizations, an increase in reliability on mobile devices and cloud technology, and a rise in need to integrate data analytics with the business applications to achieve optimum performance. In addition, growth in adoption of bring your own devices (BYOD), increased demand for real-time visualization tools in business applications, and rise in enterprise mobility drive the growth of the global embedded analytics market. Upsurge in demand for real-time streaming analysis and high demand for standalone self-service analytics tools are expected to offer significant growth opportunities for the global embedded analytics industry in the near future. However, high investment costs and a lack of analytical knowledge among the enterprises hamper the growth of the global embedded analytics market.
The global embedded analytics industry is segmented based on the deployment model, business application, analytics tool, industry vertical, and geography. Based on the deployment model, it is bifurcated into on-premise and cloud-based. As per business application, it is classified into sales & marketing, finance, operation, and human resource. Based on the analytics tool, the global embedded analytics market is categorized into dashboards and data visualization, self-service tools, benchmarking, and reporting. Based on vertical, the global embedded analytics industry is divided into banking, financial services, and insurance (BFSI); IT & telecom; public sector; manufacturing; retail; healthcare; energy & utilities; and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key market players offering embedded analytics products include Birst, Inc., IBM Corporation, Information Builders, Logi Analytics, Microsoft Corporation, Microstrategy Inc., Opentext Corporation, Qlik Technologies, Inc., SAP SE, and TIBCO (The Information Bus Company) Software Inc.
KEY MARKET SEGMENTS
By Deployment Model
o On-premise
o Cloud-based
By Business Application
o Sales & Marketing
o Finance
o Operations
o Human Resource
By Analytics Tool
o Dashboard and Data Visualization
o Self-service Tools
o Benchmarking
o Reporting
By Vertical
o BFSI
o IT & Telecom
o Public Sector
o Manufacturing
o Retail
o Healthcare
o Energy & Utilities
o Others
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