Covid-19 Impact on Operational Analytics Market Analysis by Size, Share, Future Scope, Emerging Trends, Sales Revenue and Regional Forecast to 2023

Operational Analytics Market

The COVID-19 pandemic disruption is estimated to transform the Operational Analytics Market in the years to come drastically, and its after-effects will be persistently seen in the years ahead. The MRFR report on the Operational Analytics Market meticulously tracks the COVID-19 pandemic effect for the years ahead. Moreover, the precise analysis of drivers and restraints in a post-COVID-19 market offers a coherent understanding of future growth cues.

Market Research Future (MRFR) believes that the global operational analytics market can achieve a CAGR of 15% during the forecast period (2018-2023). It also has the potential to reach a valuation of approximately 11 billion by 2023.

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Primary Drivers and Top Barriers

The global operational analytics market size is set to expand in the coming years, with the transition from traditional business to sophisticated business intelligence methods. Operational analytics offer a host of benefits that help optimize daily business operations. In addition, it helps reduce the operating time and also provides real-time data streaming.

A number of industries are witnessing digitization due to technological advancements, which helps the operational analytics market advance all across the globe. It aids in elevating the transactional effectiveness by enhancing transactions, reducing the risk of fraudulent practices, surging competitive spirit, and improved decision-making efficiency.

Rising adoption of cloud-based technology also benefits the market. Extensive use of this technology helps turn the operational process more cost-effective, in addition to providing hassle-free maintenance of data. Increasing adoption of IoT-enabled devices aids in fetching significant information and offer advanced features. The booming industry of connected devices also elevates the position of the operational analytics market.

Market Segmentation

MRFR report offers a wide segmental analysis of the operational analytics market on the basis of type, business utility, application, deployment type and verticals.

Based on type, the operational analytics market is segmented into software and service. Of these, service will dominate the market over the estimated years.

Based on business utility, the operational analytics market is segmented into human resource, finance, sales, marketing and others.

Based on application, the operational analytics market is segmented into sales and marketing management, customer management, workforce management, supply chain management, fraud detection, risk management, predictive asset maintenance and others.

Based on deployment type, the operational analytics market is segmented into on-cloud and on-premise.

Based on verticals, the operational analytics market is segmented into transportation and logistics, energy and utilities, manufacturing, retail, financial services, healthcare, government and others. Of these, manufacturing will have the largest share in the market over the estimated years.

Regional Aspect

The geographical distribution of the worldwide operational analytics market includes North America, Asia Pacific (APAC), Europe, and the rest of the world (RoW).

North America has the highest chances of gaining the top position in the global operational analytics market during the review period. The region is known as an early adopter of the latest technologies like advanced analytics, big data analytics, among others. In addition, most of the companies in the region now offer a variety of operational analytics solutions. Highly developed economies like the United States (US) and Canada make considerable investments in research and development of advanced technologies like big data and analytics, which boosts demand for the market in the region.

APAC is the second-leading market for operational analytics. The strong growth of the market is in response to the government policies that support digitization and industrialization in India, China, and Japan. Additionally, given the rising adoption of technologies like Internet of Things (IoT), big data analytics, and others, the operational analytics market can garner the highest growth rate in the forthcoming years.

Key players

Leading players profiled in the operational analytics market include Splunk (US), Bentley Systems (US), Cloudera (US), Alteryx (US)., SAP SE (Germany), Hewlett Packard Enterprise (US), SAS Institute (US), Microsoft Corporation (US), Oracle Corporation (US), IBM Corporation (US), and others.

May 2019- Syncsort has expanded its operational analytics through Ironstream for ServiceNow to provide an expanded view of the enterprise infrastructure- in the cloud and on-premise. Majority of Syncsort’s IBM and mainframe i customers are making the most of ServiceNow for availing accurate, up to date configuration information to optimize resources, improve service quality and support governance initiatives.

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