The Latin America, Middle East and Africa Advanced Analytics Market would witness market growth of 29.3% CAGR during the forecast period (2021-2027).
The augment in the implementation of advanced analytics in electricity consumption patterns, traffic conditions, and predicting & forecasting trading patterns is surging the market growth in the future years. The usage of analytics in demand forecasting permits companies to make data-based informed decisions and augment profitability. Except for the officials of several industries and industry verticals like banking, professional services, and manufacturing; government organizations are also spending more on data analytics, thus raising the demand for advanced analytics.
IoT-based predictive solutions assist in collecting and analyzing data from sensors such as air quality sensors, motion sensors, and temperature sensors. The increase in the demand for IoT-based predictive solutions is anticipated to fuel the implementation of advanced analytical techniques and tools in the forthcoming years.
The massive utilization of advanced analytics services in the protection and processing of the voluminous data stored with the help of cloud services like GoogleDrive and Microsoft OneDrive would fuel the growth of the regional advanced analytics market during the forecast period. Data warehousing companies extract information from the dataset that assists users in making informed decisions, hence exploiting the capability of advanced analytics in managing complicated relational databases. These factors are set to boost the demand for the advanced analytics market during the forecast period.
The Brazil market dominated the LAMEA Healthcare Advanced Analytics Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $122.2 million by 2027. The Argentina market would witness a CAGR of 31.4% during (2021 - 2027). Additionally, The UAE market is exhibiting a CAGR of 30.3% during (2021 - 2027).
Based on Type, the market is segmented into Big Data Analytics, Business Analytics, Customer Analytics, Risk Analytics, Statistical Analysis and Others. Based on Deployment Type, the market is segmented into On-premise and Cloud. Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on End User, the market is segmented into BFSI, IT & Telecom, Military & Defense, Healthcare, Government and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Advanced Analytics Market is Predict to reach $56.2 Billion by 2027, at a CAGR of 23.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include SAS Institute, Inc., SAP SE, IBM Corporation, Oracle Corporation, Dell Technologies, Inc., Microsoft Corporation, RapidMiner, Inc., Altair Engineering, Inc., Fair Isaac Corporation (FICO), and KNIME AG
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