The Europe Data Mining Tools Market would witness market growth of 12.4% CAGR during the forecast period (2023-2030).
Data mining tools enabled predictive modelling, helping organizations anticipate future trends, potential risks, and opportunities. This is particularly valuable for industries like finance, healthcare, and marketing. The rapid increase in the volume, velocity, and variety of data generated by businesses and individuals created a demand for tools that could effectively process and analyse this vast amount of information.
Big data often contains information about customer behaviour and preferences. Data mining tools allow businesses to analyse this data to personalize marketing strategies, product recommendations, and customer experiences. Data mining technologies also encompass data extraction, loading, and management in a multidimensional database system to improve organizational efficiency. The escalating volume of organizational data will emerge as a significant market growth driver.
The increasing number of small and medium-sized businesses in developing economies, the increasing awareness of the value of data assets among businesses, the increasing digitization of economies, and the emergence of cloud technology will all lead to the expansion of the market. Consequently, there is a rising need for data mining tools that enhance organizational efficiency. The growth of corporate data will be a major factor in market expansion.
French B2C commerce of goods and services is one of the largest in the world, ranking second in Europe and fifth overall in terms of online consumption in 2021, according to information released by the International Trade Administration on 2023-02-03. The sector is expected to be worth USD 152 billion and is expanding steadily at more than 15%. With the expansion of the e-commerce and retail sectors, the need for customer behaviour analysis is increasing, as is the emphasis on customer satisfaction, creating growth opportunities for the European regional market.
The Germany market dominated the Europe Data Mining Tools Market by Country in 2022 and would continue to be a dominant market till 2029; thereby, achieving a market value of $151.8 million by 2030. The UK market is exhibiting a CAGR of 11.4% during (2023 - 2030). Additionally, The France market would experience a CAGR of 13.2% during (2023 - 2030).
Based on Component, the market is segmented into Tools (Without Services), and Services. Based on Application, the market is segmented into Supply Chain & Procurement, Marketing, Business Transaction, Intrusion Detection, and Others. Based on Enterprise Size, the market is segmented into Large Enterprises, and Small & Medium Enterprises. Based on Deployment Type, the market is segmented into On premise, and Cloud. Based on End-use, the market is segmented into Telecom & IT, BFSI, Manufacturing, Healthcare & Lifesciences, Retail, Education, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Worldwide Data Mining Tools Market is Projected to reach USD 2.3 Billion by 2030, at a CAGR of 12.8%
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Oracle Corporation, IBM corporation, KNIME AG, Altair Engineering, Inc. (IMG Companies, LLC), Microsoft Corporation, Sisense, Inc., Google, LLC (Kaggle Inc.), SAS Institute, Inc., SAP SE and Teradata Corporation.
By Component
By Application
By Enterprise Size
By Deployment Type
By End-use
By Country
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