Advanced Analytics Market to Record Growth at 21.1% CAGR During the Forecast Period 2022-2030

Posted on 2023-03-08 by researchinsights in Technology // 0 Comments

San Francisco, California , USA, Mar 09, 2023 — /EPR Network/ —

Advanced Analytics Industry Overview

The global advanced analytics market size was valued at USD 34.56 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 21.1% from 2022 to 2030. The major factors driving the growth of the market are the advent of machine learning and Artificial Intelligence (AI) to offer personalized customer experiences, the increasing popularity of online shopping, and the rising penetration of social networking platforms.

Many companies have adopted advanced analytics and AI solutions amid the COVID-19 pandemic to engage customers through digital channels and manage large and complex supply chains. Furthermore, the pandemic has augmented the use of advanced technologies such as data mining, artificial neural networks, and semantic analysis across several businesses.

Gather more insights about the market drivers, restraints and growth of the Global Advanced Analytics Market

In recent years, there has been exponential growth in the volume of data generated by businesses worldwide. Several businesses derive insights from the gathered data to make better, real-time, and fact-based decisions. This has particularly translated into the rising demand for advanced analytics solutions for data management and strategic decision-making.

Moreover, developments in the field of big data have helped improve the assessment capabilities of data science experts. By leveraging big data analytics, enterprises can bring improvements in vital business functions, processes, and objectives. As a result, organizations can meet stakeholder demands, manage data volumes, manage risks, improve process controls, and boost administrative performance by turning information into intelligence.

The growing adoption of advanced analytics tools for applications such as predicting and forecasting electricity consumption, trade market, and traffic trend predictions is expected to drive the market growth. The use of advanced analytics in demand forecasting can help organizations make informed decisions and augment their profitability. Government agencies and various industries, such as banking, manufacturing, and professional services, have been investing aggressively in big data analytics in recent years.

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Advanced Analytics Market Segmentation

Grand View Research has segmented the global advanced analytics market based on type, deployment, enterprise size, end use, and region:

Advanced Analytics Type Outlook (Revenue, USD Million, 2017 – 2030)

Big Data Analytics
Business Analytics
Customer Analytics
Risk Analytics
Statistical Analysis
Others (Predictive Analytics, Text Analytics, and Prescriptive Analytics)

Advanced Analytics Deployment Outlook (Revenue, USD Million, 2017 – 2030)

On-premise
Cloud

Advanced Analytics Enterprise Size Outlook (Revenue, USD Million, 2017 – 2030)

Large Enterprises
Small & Medium Enterprises

Advanced Analytics End-use Outlook (Revenue, USD Million, 2017 – 2030)

BFSI
Government
Healthcare
IT & Telecom
Military & Defense
Others

Advanced Analytics Regional Outlook (Revenue, USD Million, 2017 – 2030)

North America
Europe
Asia Pacific
Latin America
MEA

Key Companies profiled:

Some prominent players in the global Advanced Analytics market include

Altair Engineering Inc.
Fair Isaac Corporation (FICO)
International Business Machines Corporation
KNIME
Microsoft Corporation
Oracle Corporation
RapidMiner, Inc.
SAP SE
SAS Institute Inc.
Trianz

Order a free sample PDF of the Advanced Analytics Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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