The Asia Pacific Big Data and Business Analytics Market would witness market growth of 14.8% CAGR during the forecast period (2021-2027).
Advanced analytics techniques are also used in the financial and banking sector to improve processes followed by banks, manage risks, and reduce scams. To protect customers from churn, the telecom sector is using analytics techniques, which will minimize the churn by specific marketing programs for particular customers. Further. these analytics are also used in the healthcare industry to detect & manage scams and enhance clinical performance. In addition, analytics is very useful in retail companies to understand the buyer’s behavior and accordingly specialize their planning and establish a better market position.
A significant rise was witnessed in the size of unorganized data like corporate emails, surveillance data, and consumer data produced from streaming activity for media subscription services like Netflix, Amazon Prime Video, in the past few years. Therefore, a surge has been witnessed in the demand for big data analytics solutions, which would fuel the demand for big data and business analytics for better data management and strategic decision-making.
Furthermore, the growing adoption of big data analytics software and solutions by numerous companies across different verticals to provide improved & rapid decision-making and also to gain a competitive edge in the market by evaluating big datasets in real-time that would augment the growth of the market over the forecast period. Along with that, the rising demand for cloud-based big data analytics software among small & medium enterprises is estimated to propel market growth in the coming years.
Industries such as manufacturing, automotive, and pharmaceuticals are putting hefty investments in the deployment of artificial intelligence for their process optimization. The adoption of big data analytics in process optimization allows makers to improve the production process, boost the efficiency of the supply chain, and recognize variables that are impacting the production quality, thereby propelling the growth of the market.
The high accessibility of big data and business services & solutions and massive demand for predictive solutions are expected to open new growth avenues for the players operating in the regional big data and business analytics market during the forecast period. This would further accelerate the growth of the regional market during the forecast period. In addition, the increasing awareness among the companies regarding the benefits of using these solutions would further escalate the regional market growth.
The China market dominated the Asia Pacific Big Data and Business Analytics Data Mining & Warehousing Market by Country 2020, thereby, achieving a market value of $7906.9 million by 2027. The Japan market is showcasing a CAGR of 14.5% during (2021 - 2027). Additionally, The India market is poised to grow at a CAGR of 15.8% during (2021 - 2027).
Based on Component, the market is segmented into Services, Software and Hardware. Based on Analytics Tool, the market is segmented into Dashboard & Data Visualization, Self-Service Tools, Data Mining & Warehousing, Reporting, and Others. Based on Deployment Type, the market is segmented into On-premise and Cloud. Based on Application, the market is segmented into Customer Analytics, Marketing Analytics, Risk & Credit Analytics, Workforce Analytics, Supply Chain Analytics, and Others. Based on Industry Vertical, the market is segmented into BFSI, IT & Telecom, Healthcare, Retail & eCommerce, Government & Defense, Transportation, Manufacturing, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Big Data and Business Analytics Market is Projected to reach USD 448 Billion by 2027, at a CAGR of 13%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Amazon Web Services, Inc., Fair Isaac Corporation, Hewlett Packard Enterprise, IBM Corporation, Microsoft Corporation, Oracle Corporation, SAP SE, SAS Institute Inc., Tibco Software Inc., and Teradata Corporation.
By Component
By Analytics Tool
By Deployment Type
By Application
By Industry Vertical
By Country
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