Advanced Analytics Market to reach USD 165.68 billion by 2025. Advanced Analytics Market valued approximately USD 16.68 billion in 2017 is anticipated to grow with a healthy growth rate of more than 33.24% over the forecast period 2018-2025. Increase in enterprise data and technological developments along with business intelligence are the driving factors of the advanced analytics market. Due to technological developments, there is rapid growth in advanced analytics market.
New technological innovations have grown-up the demand of analytical capabilities because New data analytics firm-and more established but adaptive firms are pushing new products with smart data discovery capabilities, machine learning and analytics workflow automation. The major restraining factor of advanced analytic market is to face the challenges associated with big data and cloud. Increasing number of mergers & acquisitions creates opportunities in advanced 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.
Analytics is the discovery, interpretation and communication pattern of meaningful patterns in data whereas Advanced Analytics is the autonomous or semi-autonomous examination of data or content using sophisticated techniques and tools, typically beyond those of traditional business intelligence to discover deeper insights, make predictions or generate recommendations. Through advanced analytics there is increment in speed of advanced analytic market as well as lower inventory cost and higher revenue.
The regional analysis of Advanced Analytics Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. In 2016, North America is the leading/significant region across the world in terms of market share in Global advanced analytics market and expected to retain its position over the review period. Demand of advanced analytics market has continued growth in the US and Canada in recent years. In Asia-Pacific, economic development coupled with the growth of the IT & BFSI sector has spurred a strong demand for data analytics tools. It is also consider as fastest growing market for data analytics. Other factors such as developing technology spending in countries such as China and India demand for cost-effective advanced analytical software and services among small and medium-sized enterprises (SMEs) also influence the region’s market which has anticipated to exhibit higher growth rate / CAGR over the forecast period 2018-2025.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
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By End-User:
> Banking and financial services
> Telecom and IT
> Healthcare
> Government and defense
> Transportations and Logistics
> Consumer goods and Retail
> Others
By Regions:
> North America
o U.S.
o Canada
> Europe
o UK
o Germany
> Asia Pacific
o China
o India
o Japan
> Latin America
o Brazil
o Mexico
> Rest of the World
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