Performance Analytics Market is Poised to Surpass USD $6,506.11 Million by 2026, Showcasing a CAGR of 19.6%

According to a recent report published by Allied Market Research, the global performance analytics market was valued at $1.56 billion in 2018, and is projected to reach $6.50 billion by 2026, growing at a CAGR of 19.6% from 2019 to 2026.

Performance analytics enables organizations to track, aggregate, and visualize key performance indicators over time, rather than reporting on a point in time. Furthermore, need to gain insights & anticipate trends from a large volume of data and rise in the pervasiveness of metrics-driven business performance assessment and streamlined operations are the major factors that drive the growth of the market.

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Increase in need for prioritizing resources fuel the growth of the performance analytics market. However, lack of awareness about performance analytics solutions and scarcity of skilled staff to operate on performance analytics solution are expected to hinder the growth. On the contrary, growth in adoption of cloud-based performance analytics solutions is expected to provide lucrative opportunities for market growth in the coming years.

The company profiles of performance analytics market players included in this report are SAP SE, SAS Institute, Inc., Oracle Corporation, Siemens AG, Adaptive Insights, Xactly Corporation, Optymyze, Servicenow, Inc., IBM, and Prophix Software Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.

The supply chain performance segment dominated the market in 2018 and is projected to maintain its dominance throughout the forecast period, owing to improve the labor efficiencies and decrease administrative cost of the organizations. Furthermore, IT operations performance segment is expected to grow at a significant CAGR during the forecast period to uptime the IT operation process and provide real-time comparison against the target.

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The BFSI sector dominated the performance analytics market in 2018 and is projected to maintain its dominance during the forecast period, owing to rise in digital transformation in the BFSI sector. Furthermore, the IT & telecom sector is expected to grow at a significant CAGR during the forecast period, owing to growing need of performance analytics solution for delivering complete, consistent, and accurate information to the customers.

By region, the global performance analytics market was dominated by North America in 2018 and is expected to maintain this trend during the forecast period. The major factors that drive the growth of the market in this region include growth in internet penetration and large investment done by major companies in performance analytics solution. However, Asia-Pacific is expected to witness the highest growth rate during the forecast period, owing to increase in number of performance analytics vendors expanding their business in emerging countries.

Key Findings of the Study:

By component, the solution segment led the performance analytics market size in terms of revenue in 2018.

By deployment model, the cloud segment accounted for the highest market share in 2018.

By industry vertical, the BFSI segmented accounted for the highest performance analytics market share in 2018.

By region, North America generated the highest revenue in 2018.

Access the full summary at: https://www.alliedmarketresearch.com/performance-analytics-market-A06040

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies. This helps us dig out market data that helps us generate accurate research data tables and confirm utmost accuracy in our market forecasting. Every data company in the domain is concerned. Our secondary data procurement methodology includes deep presented in the reports published by us is extracted through primary interviews with top officials from leading online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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