Embedded Analytics Market Trend Analysis By Component & Type Forecast 2023
Overview
Embedded analytics is defined as a technology that can make business intelligence and data analysis more accessible to all kinds of application or user (individual or entity). Market Research Future (MRFR) has published a research report about the global embedded analytics market that envisages extension for this market at 14% CAGR during the forecast period between 2017 and 2023. By value, the market can be worth the USD 52 bn by the end of the forecast period.
The most engaging market driving factor for global embedded analytics market growth include increased adoption of modern analytics techniques, increasing data volume from enterprises, and usage of self-analytics techniques.
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Market Segmentation
The global embedded analytics market segmentation covers application, components, deployment, organization size, and vertical. MRFR is exploring the features of these segments to understand market trends.
As per the application-based segmentation, this market covers finance, human resource, information technology (IT), marketing & sales, production, and others. In the context of organization size, the market has been segmented into a large organization and small & medium organization.
Based on the component, the market has been segmented into solutions and services. The services segment has been sub-segmented into managed services and professional services. Professional services affiliated with cloud platforms include selection, deployment, and lastly, continuous ongoing management of cloud resources. Factors contributing to the market growth for managed services include continuous upsurge in the dependency over heterogeneous networks, flexibility to match custom requirements, increasing trend of bring your own devices (BYOD), rise in digital information, need to secure digital information, and persistent rise in the complexity of technological solutions.
Regarding deployment, the market has been segmented into cloud deployment and on-premise deployment. Cloud solution enables an organization to focus on core business competencies. Not only it provides every user organization with data protection and security, but it also efficiently manage storage and privacy issues and offers data integrity. It also provides the organization, the information related to governance and make enterprise legally prepared.
Covering verticals, the market has been segmented into energy & utilities, healthcare & life Science, IT & telecommunication, manufacturing, media & entertainment, and others.
Regional Segmentation
The regional segmentation of the global Embedded Analytics Market covers The Americas (North America & South America), Europe, Asia Pacific, and rest of the world (RoW). The RoW segment covers many countries of the Middle East & Africa (MEA) region.
The Americas is the largest regional market as North America alone holds the potential to be the largest market. South America is a significant but small market as technological advancement in South America is not as high as it is in North America. Apart from technological advancement, other factors contributing to the market include the presence of major market players in the USA and increasing adoption of embedded analytics by small as well as large enterprises. The trend of adoption is strong in both the USA and Canada.
During the forecast period, the Asia Pacific region can emerge as the fastest growing regional market due to surging investment in the embedded analytical tools that can improve business efficiency and productivity. The growing number of embedded companies in this region is also boosting the market growth. The strongest economies that have technological advancement and robust IT infrastructure are China, India, and Japan. These countries have the potential to be the strongest markets in this region.
Europe can grow as a market due to technological advancement almost equal to North America and the presence of many important market players. The top-level country-specific markets in this region are France, Germany, Italy, and the UK. Other countries in Europe also add to market growth.
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Key Players
Major players in the global embedded analytics market include Birst (USA), IBM (USA), Logi Analytics (USA) Microsoft Corporation (USA), MicroStrategy Incorporated (USA), Oracle Corporation (USA), SAP SE (Germany), SAS Institute (USA), Tableau Software (USA), and TIBCO Software (USA).
Latest Industry News
Embedded analytics GoodData® has announced its integration with Snowflake. Snowflake is a data warehouse built for the cloud. 26 JUNE 2019
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