Global Advanced Analytics Market 2016-2020
Outlook of the global advanced analytics market
Technavio’s market research analyst predicts the global advanced analytics market to grow at a CAGR of around 22% during the forecast period. Advanced analytics is a practice that helps in the extraction of information from the existing or historical data. It also helps to predict the trend of an industry or the future of the organization by taking into account the “what-if scenarios” to predict possible risks involved in the future. Moreover, it helps to optimize marketing campaigns and also helps enterprises to understand the customer behavior, which in turn will augment the end-user response.
The advent of big data and analytics is an important growth driver for this market. Due to extensive data generation, enterprises need business analytics solutions to automate the process of tracking the performance and behavior of data. This helps enterprises to automatically manage large amounts of data. The ability of advanced analytics to facilitate the understanding of customer behavior will result in its augmented adoption during the predicted period.
Geographical segmentation of the advanced analytics market
In this market study, analysts have estimated the Americas to be the largest market for advanced analytics during the forecast period. At present, this region dominates over all the other geographies and is envisaged to grow at a CAGR of more than 20% during the forecast period. The market in this region is growing rapidly in terms of revenue. The increasing demand from enterprises to gain insights into the data available to them and to identify the trends of various industries will result in this region’s high market revenue generating capacity during the forecast period.
Competitive landscape and key vendors
The global advanced analytics market is highly consolidated as the top five vendors account for a significant share of the market. The large companies dominate this market due to their ability to provide innovative and high-quality services to end users. Initially, many enterprises had perceived that advanced analytics is a costly process. However, that perception is changing rapidly under current conditions, as several enterprises have understood the benefits of analytics in developing customer-oriented market strategies. This has encouraged vendors to integrate technically advanced features in these solutions.
The leading vendors in the market are -
- SAS Institute
Other prominent vendors in the market include Accretive Technologies, Angoss Software, Dell, FICO, HP, Information Builders, Microsoft, Microstrategy, Megaputer Intelligence, Oracle, Pegasystems, Pitney Bowes, Prognoz, Revolution Analytics, StatSoft, Tableau Software, Teradata, and Tibco Software.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global advanced analytics market?
- What are the key market trends impacting the growth of the advanced analytics market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the vendors in the global advanced analytics market?
- Trending factors influencing the market shares of the Americas, APAC, and EMEA.
- What are the key outcomes of the five forces model of the advanced analytics market?
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