Global Advanced Analytics Market is projected to Reach USD 90.4 billion by 2027

The global advanced analytics market size is anticipated to grow at a 21.7% CAGR during 2021-2027 and will reach USD 90.4 billion by 2027. The increased adoption of AI-and ML-based technologies to provide real-time actionable customer insights and increased demand to envisage customer intent will fuel the market growth of the advanced analytics market. In addition, the increased demand for monitoring and improving agent performance, as well as the growing demand for voice authentication in mobile banking applications, would propel the advanced analytics market outlook forward. Moreover, the rising demand for industrial automation services and solutions, increased volume of organization data, technological development in analytical tools, increased adoption of cloud technology, development of IT infrastructure, increased number of SMEs in emerging economies, mounting digitalization will accelerate the growth of the advanced analytics market.

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The COVID-19 pandemic has prompted many businesses to adopt advanced analytics and artificial intelligence (AI) solutions and implement ground-breaking strategies to better engage customers via digital channels, manage fragile and complex supply chains, and support workers as their work and lives are disrupted. Rather than relying on lagging data, companies should concentrate on where they can gain new insights in the advanced analytics industry.

Global advanced analytics market Segment Analysis

This section of the report provides a comprehensive analysis of segments and sub-segments and offers insight into the leading segment and anticipates segments having the fastest growth.

The Global advanced analytics market is segregated based on:

By Component
• Solutions
• Services
o Professional Services
o Managed Services

By Business Function
• Marketing and Sales
• Finance
• Human Resource
• Operations
• Supply Chain

By Type
• Big Data Analytics
• Predictive Analytics
• Customer Analytics
• Statistical Analytics
• Risk Analytics
• Prescriptive Analytics
• Others

By Deployment Mode
• Cloud
• On-Premises

By Organization Size
• Large Enterprises
• Small and Medium-Sized Enterprises

By Vertical
• BFSI
• IT and Telecom
• Retail and Consumer Goods
• Healthcare and Life Sciences
• Transportation and Logistics
• Government and Defense
• Manufacturing
• Media and Entertainment
• Others

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Competitor Landscape

Key advancements in the advanced analytics industry, as well as organic and inorganic growth approaches, are covered in the research. A number of companies are prioritising new launches, product approvals, and other organic growth tactics such as patents and events. Inorganic growth strategies in the market included acquisitions, partnerships, and collaborations. These efforts have paved the road for industry players to expand their business and client base. The industry players in the inspection management software market are expected to benefit from attractive growth prospects in the future. A list of a few businesses involved in the advanced analytics market are provided below:

• IBM
• Oracle
• SAS Institute Inc.
• SAP SE
• FICO
• Microsoft
• Altair Engineering Inc.
• Amazon Web Services, Inc.
• Salesforce.com, inc.
• RapidMiner, Inc.

FAQ
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