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According to a new report North America Operational Analytics market , published by KBV Research, the North America Operational Analytics Market is expected to attain a market size of $4.4 billion by 2022, growing at a CAGR of 16.5% during the forecast period. The developed economies such as U.S. and Canada have significant focus on innovations obtained from research and development and technology. 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 its 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.
The major drivers driving the operational analytics market are voluminous amount of data gathered due to emergence of IoT-enabled devices, rapidly growing need for process & operational optimization & control, adoption of advanced data management strategies, and growing awareness about the need for market & competitive intelligence. The operational analytics market is segmented into software and services. Manufacturing was the most potential market with the largest market share in 2016 due to benefits such as to create a competitive advantage by improving the efficiency across the product life-cycle and providing a relationship between decision-making and return on Investment (ROI).
The report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the countries analysis in the Country. The key influencing factors of the North America Operational Analytics have been discussed in the report along with the elaborated company profiles of IBM Corporation, Microsoft Corporation, Cisco Systems, Inc., Google Inc., HP Enterprise Company, Oracle Corporation, SAP SE and SAS Institute Inc.