What Does the Future Hold for the Advanced Analytics Market?
The advanced analytics market size has significantly grown in the recent years. From a market value of $47.33 billion in 2024, it is projected to grow to $57.01 billion in 2025. This represents an impressive compound annual growth rate (CAGR) of 20.5%. This growth could be attributed to factors such as intuitive demand for real-time insights, industry-specific applications, focus on predictive analytics, and strict regulatory compliance requirements.
The exponential growth, however, does not stop there. By 2029, the advanced analytics market size is set to reach $139.92 billion exhibiting a CAGR of 25.2%. The market growth drivers include the explosion in unstructured data, focus on prescriptive analytics, emphasis on data governance, and continuous training of analytics models.
Highlighting major trends, we can recognize the rise of augmented analytics for business users, real-time analytics and streaming data processing, predictive and prescriptive analytics for decision support, cross-functional analytics platforms, and evolution of blockchain integration for data security.
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What Are the Major Factors Driving the Advanced Analytics Market Growth?
The growing usage of analytical solutions across various industries like retail, agriculture, banking, etc., is fuelling the advanced analytics market. The increasing reliance on systems such as demand forecasting, trade promotion optimization, and behaviour analytics are contributing as well.
What are the Segments Covered in the Advanced Analytics Market Report?
The advanced analytics market report covers the following segments:
1) By Type: Big Data Analytics, Predictive Analytics
2) By Component: Solution, Services
3) By Deployment Mode: Cloud, On-Premises
4) By Organization Size: Large Enterprises, Small And Medium-Sized Enterprises (SMEs)
5) By Vertical: Banking Finance Services And Insurance (BFSI), IT And Telecom, Retail And Consumer Goods, Healthcare And Life Sciences, Transportation And Logistics, Government And Defense, Manufacturing, Media And Entertainment, Other Verticals
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Who Are the Leading Companies in the Advanced Analytics Market?
SAS Institute Inc., SAP SE, IBM Corporation, Oracle Corporation, Dell Technologies Inc., Microsoft Corporation Inc., RapidMiner Inc.,Altair Engineering Inc., Fair Isaac Corporation, KNIME AG., Statsoft Technolohgies Pvt Ltd, Teletrac Navman Ltd., Procon Analytics LLC., IMS Software Inc., CloudMade Ltd., TIBCO Software,MicroStrategy,RapidMiner,DataRobot, KNIME,Sisense, ThoughtSpot, Information Builders, Talend, GoodData, Splunk, Teradata, Pentaho, Yellowfin, Pyramid Analytics are some of the pioneers shaping the landscape of the advanced analytics market.
What Trends Are Emerging in the Advanced Analytics Market?
Significant technological advancements are reshaping the landscape of the advanced analytics market. Broadvoice, a US-based cloud-based communication company, for instance, launched Broadvoice Advanced Analytics in October 2024.
What Regional Trends Are Observed in the Advanced Analytics Market Report?
In 2024, North America dominated the advanced analytics market. However, Asia-Pacific is expected to witness the fastest growth during the forecast period. The report also covers other significant regions like Western Europe, Eastern Europe, South America, Middle East, and Africa.
What Does The Advanced Analytics Market Report 2025 Offer?
Advanced analytics refers to a data analysis methodology that uses predictive modeling, machine learning algorithms, business process automation, and other statistical approaches to analyze corporate data. While basic business intelligence provides a snapshot of the business, advanced analytics offer a predictive and prescriptive outlook for deeper insights. The Advanced Analytics Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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