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The global Operational Analytics Market Size is expected to attain a market size of $11.98 billion by 2022, growing at a CAGR of 18.0% during the forecast period.
Operational analytics is a technology that is used by companies to grow competitive, drive more transactions, eliminate fraudulent activities and risk, streamline operational procedures, and eventually grow profitable by cutting cost. Large and interconnected value chains create a level of complexity in procedures that requires precision based and real time decision making strategies in place. However, not all the teams are armed with the level of insight that is required to make such fast and precise decisions. Increasingly, operational teams are realizing their lack of skillfulness in gaining insights that would help in better decision making. Many companies are deploying operational analytics solutions either on their premises or as an on demand service.
The demand for on-demand or cloud-based operational analytics solutions has been unprecedented duet to it?s the cost benefits and other time-saving features. The technology has been widely adopted in Small and Medium Enterprises (SMEs), where low- cost solutions are the need for the businesses. Based on the component type, the Operational Analytics market is segmented into Solution and Services. The Services market is segmented into Professional and Managed Services. Professional services are further segmented into Implementation, Consulting & Training and Support & Maintenance. Based on the function, the market is segmented into IT Operations, Marketing, Finance, Human Resource and Sales. The Applications highlighted in this report include Predictive Asset Maintenance, Risk Management, Fraud Detection, Supply Chain Management, Customer Management, Workforce Management, Sales & Marketing Management and Others.
Based on Deployment Type, the market is segmented into Cloud based and On-Premise. The verticals covered under the report include Manufacturing, Retail, Telecom & IT, Government & Defense, Energy & Utilities, Transportation & Logistics and Others. Based on region, Operational Analytics market is segmented into North America (US, Canada, Mexico and Rest of North America), Europe (Germany, UK, France, Russia, Spain, Italy and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Singapore, Malaysia and Rest of Asia-Pacific) and Latin America, and Middle East & Africa. North America remained the dominant region in the global Operational Analytics market in 2015. Asia-Pacific would witness promising CAGR during the forecast period (2016-2022).
The report covers the analysis of key stake holders of the Operational Analytics market. Key companies profiled in the report include IBM Corporation, Microsoft Corporation, Cisco Systems, Inc., Google Inc., HP Enterprise Company, Oracle Corporation, SAP SE and SAS Institute Inc.