North America Advanced Analytics Market By Type (Big Data Analytics, Business Analytics, Customer Analytics, Risk Analytics, Statistical Analysis and Others), By Deployment Type (On-premise and Cloud), By Enterprise Size (Large Enterprises and Small & Medium Enterprises), By End User (BFSI, IT & Telecom, Military & Defense, Healthcare, Government and Others), By Country, Growth Potential, COVID-19 Impact Analysis Report and Forecast, 2021 - 2027
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Market Report Description
The North America Advanced Analytics Market would witness market growth of 21.7% CAGR during the forecast period (2021-2027).
Advanced analytics is considered as the autonomous or semi-autonomous analysis of data or content with the help of advanced techniques and tools, generally beyond those of conventional business intelligence (BI), to uncover beneficial insights, make predictions, or create suggestions. The growing number of companies in the region with massive data in both organized as well as unorganized formats is surging the demand for advanced analytics solutions in the regional market.
Factors like rising demand in the developing nations, the solutions over cloud platforms, decrease in the price of these solutions, and appearance of new players are anticipated to boost the advanced analytics market. The entrance of key players is offering vertical-specific solutions that have improved the dynamics of the market that compel the key players like SAS, Oracle, and SAP to deliver solutions tailored according to the specific industry.
North America is anticipated as one of the major regions in the advanced analytics market. The major reasons behind the dominance of this region in the global market are the increase in artificial intelligence deployment and growing technological improvements. Also, the growing number of users of social media has surged the growth of the global advanced analytics market in this region. Additionally, the existence of a well-established organization that assists swift adoption of advanced technologies, made this region as a key market for the growth of advanced analytics.
The regional market would be fueled by the massive adoption of artificial intelligence and growing technological advancements. Moreover, the presence of the leading companies of the advanced analytics market in this region makes it highly conducive for the existing as well as new players of the market. Lastly, the existence of well-formed infrastructure that encourages the rapid installation of advanced technologies would fuel the growth of the regional market during the forecast period.
The US market dominated the North America Advanced Analytics Customer Analytics Market by Country 2020, thereby, achieving a market value of $4,675.2 million by 2027. The Canada market is experiencing a CAGR of 24.8% during (2021 - 2027). Additionally, The Mexico market would witness a CAGR of 23.7% 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 U.S., Mexico, Canada, and Rest of North America.
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
Scope of the Study
Market Segments Covered in the Report:
- Big Data Analytics
- Business Analytics
- Customer Analytics
- Risk Analytics
- Statistical Analysis
By Deployment Type
By Enterprise Size
- Large Enterprises
- Small & Medium Enterprises
- IT & Telecom
- Military & Defense
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- SAS Institute, Inc.
- SAP SE
- IBM Corporation
- Oracle Corporation
- Dell Technologies, Inc.
- Microsoft Corporation
- RapidMiner, Inc.
- Altair Engineering, Inc.
- Fair Isaac Corporation (FICO)
- KNIME AG
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