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Data Analytics Market is projected to grow at a CAGR of 25.3% during the forecast period 2022 to 2029 | Size, Share & Industry Trends
Data Analytics Market
For Additional Insights, Click to Access Complete Report -https://www.gmiresearch.com/report/data-analytics-market/
The factors driving growth of the Data Analytics Market includes rise in the number of IoT connected devices around the world, commercialization of 5G technology, Government initiative promoting digitalization, increasing volumes of data generated across social media platforms such as Snapchat, Instagram and Facebook and improvements in the living standards. For instance, the market for Internet of Things based devices is estimated to grow by 18% in 2022, to 14.4 billion active connections for 2022, the number of IoT connected devices are estimated to reach 27 billion by the end of 2025, which will accelerate the Data Analytics Market Growth in the approaching years. Moreover, innovations in technologies such as Artificial Intelligence (AI), Machine Learning (ML) and Internet of Things (IoT), rising penetration of smartphones worldwide, increase in the launch of new products and rapid industrialization, are some of the additional factors supplementing the Data Analytics Market size. In addition, the increasing investments by major companies on research and development, strategic mergers and acquisitions between key industry players and growing population growth rates, are further contributing towards the market growth.
However, growth of the Data Analytics Market is hindered attributed to growing concerns related to security.
The prominent players operating in the market are Datameer Inc., IBM, Alteryx Inc., Microsoft, Amazon Web Services Inc. (AWS), SAP, Looker Data Sciences, Inc., Oracle, Dell Inc., and SAS Institute Inc., among others.
Based on Solution, the Data Management segment is predicted to grow at a significant CAGR during the forecast period
Data management solutions provide classification of data and fast retrieval to organizations, which is pushing segment's growth.
Based on Deployment, the Cloud segment is projected to expand at a remarkable CAGR over the forecast period
Cloud based models provides real time analytics and enhances employee's productivity, are some of the factors propelling segment's growth.
Based on Region, the North American region is anticipated to grow at a robust CAGR during the forecast period
As per the Data Analytics Market Forecast, Presence of the leading players such as Microsoft, Amazon Web Services Inc. (AWS), and IBM Corporation, growing penetration of connected devices, roll-out of 5G technology, rapid industrialization, and high per capita incomes, are some of the important factors augmenting the market growth in North America.
Key Developments
In 2020, IBM introduced new cloud and AI-powered technologies for helping researchers across a wide range of scientific disciplines to accelerate the process of delivery. It aims to help scientists, doctors, and healthcare researchers to increase the processing of Covid-19 drug, from gathering insights to applying the new virus genomic information.
In 2019, Oracle added Pre-Packaged Enterprise Analytics to applications. The new package is developed for the fusion cloud enterprise resource planning applications which are used by organizations to run their financial processes.
Market Segmentation
Segmentation by Type
Predictive Analytics
Prescriptive Analytics
Descriptive Analytics
Customer Analytics
Segmentation by Solution
Data Management
Data Mining
Fraud & Security Intelligence
Data Monitoring
Segmentation by Application
Enterprise Resource Planning
Supply Chain management
Human Resource Management
Database Management
Others
Segmentation by Vertical
BFSI
IT & Telecommunication
Manufacturing
Process Manufacturing
Discrete Manufacturing
Retail & Ecommerce
Energy & Power
Healthcare
Transport & Logistics
Media & Entertainment
Others
Segmentation by Deployment
Cloud
On premises
Segmentation by Organization Size
Small & Medium Enterprises
Large Enterprises
Segmentation by Function
Marketing Analytics
Sales Analytics
Operational analytics
Accounting and Finance analytics
HR Analytics
Segmentation by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
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