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Advanced Analytics Market Analysis 2023: Market Growth Rate, Competitive Landscape And Top Opportunities
Advanced Analytics
The Business Research Company's Advanced Analytics Global Market Report 2023 identifies growing usage of analytical solutions as the major driver for the Advanced Analytics market's growth in the forecast period. The analytical solutions are increasingly being used in various industries such as retail, agriculture, banking, and so on for demand forecasting, trade promotion optimization, and behavior analytics. Analytical solutions provide solutions to a problem that has already occurred. However, advanced analytics predicts future instances based on the trends of the past. Both of these are interrelated and when combined provide solutions and forecasts.
The global advanced analytics market size will grow from $33.47 billion in 2022 to $40.65 billion in 2023 at a compound annual growth rate (CAGR) of 21.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the advanced analytics is expected to grow to $92.9 billion in 2027 at a CAGR of 23.0%.
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Major competitors in the Advanced Analytics market are IBM Corporation, Oracle Corporation, Dell Technologies Inc., Microsoft Corporation, RapidMiner Inc.
A key trend in the Advanced Analytics market includes technological advancement. Introducing new technologies or technology advancements will help the growth of the advanced analytics market rapidly and provide an enhanced product to the customers. For instance, in August 2021, CROSSMARK, a sales and marketing services agency, announced the national introduction of Accelerator, a state-of-the-art data analysis platform for CPG sales and marketing activities.
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The Advanced Analytics market is segmented -
• By Type: Big Data Analytics, Predictive Analytics
• By Component: Solution, Services
• By Deployment Mode: Cloud, On-Premises
• By Organization Size: Large Enterprises, Small And Medium-Sized Enterprises (SMEs)
• By Vertical: Banking Finance Services And Insurance (BFSI), IT And Telecom, Retail And Consumer Goods, Healthcare And Life Sciences, Transportation And Logistics, Government And Defence, Manufacturing, Media And Entertainment, Other Verticals
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Advanced Analytics market.
The Business Research Company's "Global Advanced Analytics Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Advanced Analytics Market Include:
1. Executive Summary
2. Advanced Analytics Market Characteristics
3. Advanced Analytics Market Trends And Strategies
4. Advanced Analytics Market - Macro Economic Scenario
5. Advanced Analytics Market Size And Growth
……
26. Africa Advanced Analytics Market
27. Advanced Analytics Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Advanced Analytics Market
29. Advanced Analytics Market Future Outlook and Potential Analysis
30. Appendix
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• To provide insights about factors affecting the market growth.
• To Analyze the Analytics as a service Market based on various factors- porters five force analysis, mega trend analysis, macroeconomic indicators etc.
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