The advanced analytics market is expected to grow at a compound annual growth rate (CAGR) of 25% during the forecast period from 2022-2030.
Advanced analytics is the method of examining data with the use of various tools and techniques. This autonomous or semi-autonomous examination of data replaces traditional business intelligence (BI) technology and helps identify thorough insights and make forecasts. The methodology uses machine learning, data mining, network, and cluster analysis, forecasting, visualization, semantic analysis, pattern matching, sentiment analysis, simulation, neural networks, event processing, etc., to analyze the data precisely.
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The advanced analytics market is invariably extending with new additions and upgrades in the industry due to its beneficial techniques. The remarkably growing industrial data is one of the main reasons for the anticipated growth of the advanced analytics market.
Moreover, advancements in machine learning, data mining, semantic analysis, neural networks technology are accelerating the growth of the advanced analytics market.
The rise in data generation by renowned sectors like BFSI, IT, energy & utilities, etc., enhances the necessity of data processing and rapid decision making among businesses to outgrow competitors. This factor is increasing the demand for advanced analytics in the business sector.
Regional Analysis
North America is dominating the Advanced Analytics market and is expected to hold the highest share during the forecast period.
The rising need for data management is the key reason for the growth of the market in the region. Moreover, the presence of advanced analytics solution providers like SAS Institute Inc., Oracle Corporation, Microsoft Corporation, and IBM Corporation in the region would accelerate the market growth during the analysis period.
The requirement for growing portfolios is expected to surge the market growth in the region. SAS is one of the leading Advanced Analytics providers which offers advanced analytics platforms to businesses. Volvo Trucks in North America extended its portfolio with the help advanced analytics platform offered by SAS Institute Inc.
The growing demand from businesses to obtain thorough insights into the available data and to recognize the key trends would contribute to the growth of the Advanced analytics market during the forecast period. Rapid adoption of advanced technologies in the region has contributed to the extensive growth of advanced analytics.
Apart from that, the growing adoption of social media and its extending use in the region is playing a key role in the growth of advanced analytics during the analysis period.
Impact Analysis of COVID-19
Covid-19 pandemic surged the growth of the advanced analytics market as various businesses strived to maintain profit. Advanced analytics helped businesses to adopt justified modifications. Other factors driving the positive influence of Covid-19 impact were the rising demand for digitalization, growing investments, and increasing demand for remote services.
Key Market Segments
On the basis Of Banking and Financial Services:
- Regulatory Reforms
- Customer Profitability
- Operational Efficiency
- Risk Management
- Credit Risk Analysis
- Fraud Detection and management
- Budgeting and Planning
- Process Optimization
On the basis Of Applications Telecom and IT Services:
- Targeting offer and campaign management
- Cell Site Optimization
- Revenue Assurance
- Customer Profitability Analysis
- Network Dynamics
- Congestion Control and Social Network Analysis
- On the basis of Healthcare:
- Predictive Modeling
- Financial Performance and Monitoring
- Fraud Detection and Management
On the basis of Government and Defense:
- Fraud detection and management
- Defense Health
- Scenario Planning
On the basis of Transportation and Logistics:
- Inventory Optimization
- Supply Chain Planning
- Sales and Operational Planning
- Quality Lifecycle Management
On the basis of Consumer Goods and Retail:
- Price Optimization
- Customer Insight
- Planning and Organization
- Merchandize Planning
- Size Optimization
By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
Key Companies
- Altair Engineering, Inc., (U.S.)
- Fair Isaac Corporation (U.S.)
- International Business Machines Corp. (U.S.)
- KNIME (U.S.A)
- Microsoft Corporation (U.S.)
- Oracle Corporation (U.S.)
- RapidMiner, Inc. (U.S.)
- SAP SE (Germany)
- SAS Institute Inc. (U.S.)
- Trianz (U.S.)
- Other prominent players
Table of Content
Chapter 1: Global Advanced Analytics Industry Overview
Chapter 3: Market Dynamics
Chapter 4: Top Company Profiles
Chapter 5: Global Advanced Analytics market Competition, by Players
Chapter 6: Global Market Size by Regions
Chapter 7: Global Market Segment by Application
Chapter 8: Global Advanced Analytics Industry Segment by Type
Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders
Chapter 11: Key Marketing Strategy Analysis, by Market Vendors
Chapter 12: Market Effect Factors Analysis
Chapter 13: Global Advanced Analytics market Size Forecast (2023-2032).
Continue….
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(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Advanced Analytics market revenues on a global, regional, and country level, projecting trends until 2032. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Advanced Analytics market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Advanced Analytics market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Advanced Analytics business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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