The Latin America, Middle East and Africa Data Mining Tools Market would witness market growth of 15.8% CAGR during the forecast period (2023-2030).
The demand for data mining tools has increased due to the expanding BYOD (bring your own device) trend in many workplaces and the proliferation of mobile devices and apps. In addition, one of the key factors fuelling the expansion of the market is the increasing demand for data mining tools from IT and e-commerce companies to rapidly resolve issues and problems and increase business user satisfaction at a lower cost.
The essence of data mining is the discovery of patterns, trends, and correlations that connect data points. Consequently, a company can use data mining to detect outliers and correlations that should not exist. For instance, a company may discover a recurring transaction to an unknown account by analysing its cash flow. If this is unanticipated, the company may wish to determine whether funds are being mismanaged. Data mining may look very different across the application, but the overall process can be applied to virtually any new or legacy application. Almost any form of data can be gathered and analysed, and data mining can be applied to virtually every business problem that relies on credible evidence.
The UAE has unveiled “The UAE Digital Government Strategy 2025” in anticipation of this digitalization trend. The fundamental goal of the UAE’s digital strategy is to gain widespread, cross-sectoral government support for integrating digital elements into overall government strategies. This is essential to guarantee that the UAE Government is digital by design as well as that all national capacities, structures, and possibilities are integrated and in line with the UAE’s strategic vision for digital government. The growing emphasis on digitalization across the region will eventually result in increased data generation, thereby supporting the market’s growth.
The Brazil market dominated the LAMEA Data Mining Tools Market by Country in 2022 and would continue to be a dominant market till 2029; thereby, achieving a market value of $44.4 million by 2030. The Argentina market is showcasing a CAGR of 16.4% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 15.4% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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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