Performance Analytics Market Size, Share Volume Trends Demand Forecast Report 2023-2031

Performance analytics reveals insights and discloses hidden value to define new, targeted performance areas. It helps in formulating business strategies by comparing company's present performance with the set objectives. In addition, performance analytics streamlines performance analytics processes and decreases costs by improving the response as well as closure time. Need to gain insights & anticipating trends from large volume of data and rise in pervasiveness of metrics-driven business performance assessment and streamline operations are the major factors that drive the growth of the market. In addition, increase in need for prioritizing resources fuels the growth of the performance analytics market.

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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.

However, lack of awareness about performance analytics solutions and scarcity of skilled staff to operate on performance analytics solution is expected to hinder the market growth. On the contrary, growing adoption of cloud-based performance analytics solutions is expected to provide lucrative opportunities for the market growth in the coming years. The performance analytics market is segmented on the basis of component, deployment, organization size, application, industry vertical, and region. Based on component, the market is categorized into solution and service. On the basis of deployment, it is classified into on-premise and cloud. By organization size, the market is categorized into large enterprises and small &medium sized enterprises (SMEs).

Depending on application, it is divided into financial performance, sales & marketing performance, IT operations performance, supply chain performance, employee performance, and others. According to industry vertical, the market is classified into BFSI, IT & telecom, retail, government & defense, healthcare, manufacturing, and others. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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Key benefits for stakeholders
- The study provides an in-depth analysis of the global performance analytics market along with the current & future trends to elucidate the imminent investment pockets.
- Information about key drivers, restrains, and opportunities and their impact analysis on the market size is provided in the report.
- Porter's five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
- The quantitative analysis of the global performance analytics market from 2019 to 2026 is provided to determine the market potential.

KEY MARKET PLAYERS
- IBM Corporation
- SAP SE
- SAS Institute Inc.
- Oracle Corporation
- Siemens AG
- Adaptive Insights
- Xactly Corporation
- Optymyze
- Servicenow Inc.
- Prophix Software Inc

Key market segments
By Component
- Solution
- Service

By Deployment Mode
- On-Premise
- Cloud

By Organization Size
- Large Enterprises
- Small & Medium Enterprises

By Application
- Financial performance
- Sales & Marketing performance
- IT Operations Performance
- Supply Chain Performance
- Employee Performance
- Others

By Industry Vertical
- BFSI
- IT & Telecom
- Retail
- Government & Defense
- Healthcare
- Manufacturing
- Others

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By Region
- North America
o U.S.
o Canada
- Europe
o UK
o Germany
o France
o Rest of Europe
- Asia-Pacific
o China
o India
o Japan
o Rest of Asia-Pacific
- LAMEA
o Latin America
o Middle East
o Africa

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