Published Date: 18-Aug-2021
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According to a new report Global Advanced Analytics Market, published by KBV research, The Global Advanced Analytics Market size is expected to reach $56.2 billion by 2027, rising at a market growth of 23.1% CAGR during the forecast period.
The customer analytics segment would witness a prominent growth rate over the forecast period. Factors such as enhanced customer retention, customer experience management, and lead management are responsible for the high growth of this segment. A great emphasis is given on understanding the customers’ buying behavior and patterns and then providing a favorable customized customer experience accordingly, which is propelling the demand for customer analytics.
The large enterprise segment obtained the maximum revenue share in 2020. This segment would showcase promising growth rate over the forecast period. Factor such as an increase in the implementation of analytics solutions in various functions like business analytics and customer analytics, for proper management of large databases of customers and other data assets is responsible for the massive growth rate of this segment. The excessive amount of data produced by large companies are surging the demand for big data analytics and predictive analytics, thus contributing to the augment of the segment growth.
North America garnered the largest revenue share in the market in 2020. Factors like the growing adoption of the latest solutions & technologies and the huge volume of data generated in this region are expected to bolster the growth of the regional market. In addition, the high availability of infrastructure needed for the deployment of cutting-edge analytics is also contributing to regional growth.
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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
By Deployment Type
By Enterprise Size
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