Press release
At 27.6% CAGR, Data Analytics Market Size [2021-2030] to Reach USD 3,03,252.3 Million.
Data Analytics Market
The data analytics market will be worth USD 3,03,252.3 million by 2030, with a 27.6% CAGR.
One of the most crucial data science activities is data analytics. This includes everything from gathering and storing data to processing it and using tools like models and data visualizations to extract insights from data sets. Businesses that might otherwise struggle to make sense of operational data gain an advantage from the data analytics software market.
The market for big data and corporate analytics has experienced rapid expansion in recent years, but it is expected to abruptly decline in 2020 as a result of the COVID-19 pandemic. This is attributable to the majority of governments putting their citizens on lockdown and banning travel to stop the spread of the virus. After the COVID-19 pandemic recovery, the big data and business analytics market is anticipated to flourish in the years to come. Many businesses around the world have established a culture where workers can work from home, which is increasing demand for cloud-based big data analytics to manage organizations' vital information and opening up attractive market opportunities.
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List Of Key Companies:
IBM Corporation (US)
Microsoft (US)
Oracle (US)
SAP SE (Germany)
Amazon Web Services Inc. (US)
Tableau Software LLC. (US)
SiSense Inc (US)
Zoho Corporation Pvt. Ltd. (India)
ThoughtSpot Inc. (US)
Mu Sigma (US)
Looker Data Sciences Inc. (US)
Datameer Inc. (US)
Market Segment
By Type
The market is divided into categories based on type, predictive analytics, prescriptive analytics, descriptive analytics, and, customer analytics.
By Solution
The market is bifurcated based on solutions, data management, fraud &Amp, security intelligence, data mining, and, data monitoring.
By Application
The market is divided into categories based on application, including data discovery and visualization (DDV), advanced analytics (AA), and others (data preparation, and others).
By Deployment
The market is segmented into On-premises and Cloud. A company's IT infrastructure can be tailored via on-premises installations, which reduces their reliance on the internet and protects sensitive information from theft and fraud. It is anticipated that the cloud segment will experience significant growth during the projected period. The demand for cloud solutions is expected to increase as IoT and cloud computing becomes more widely adopted.
Regional Analysis
North America held the largest market share for big data analytics. The area has significant companies across many industries and uses big data analytics software extensively.
Due to the growth of the BFSI, retail, manufacturing, healthcare, and other industries during the forecast period, Asia-Pacific experienced a notable CAGR. The market's potential for growth is widespread throughout the world, along with prominent nations like Singapore, South Korea, Japan, South Korea, and others like Singapore, India, and China.
The adoption of network solutions, social media, electronic gadgets, connected devices, and other technologies has greatly increased throughout Europe. It is projected that the region's rapidly growing data will increase the demand for analytical solutions.
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Industry News
The WSJ/Realtor.com Emerging Housing Markets Index, introduced by The Wall Street Journal in April 2021, is designed to identify rising housing markets. It also is designed to identify the likelihood of a future increase in home prices as well as a higher standard of living.
Utilizing social media as a resource strengthens consumer interactions, according to the latest social media trends.
Promotions for various goods and events are improved, making them more successful than any conventional form of advertising.
Competitions between businesses, which have an impact on how they optimize for market expansion, are constantly evolving.
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