The operational analytics market size will grow by USD 12.80 billion during 2019-2023. This market report provides a detailed analysis of the market by end-users (manufacturing, telecom and IT, BFSI, transportation, retail, and other end-users) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on many market vendors, including Hewlett Packard Enterprise Development LP, IBM Corp., Oracle Corp., SAP SE, and SAS Institute Inc.
Key Insights on Operational Analytics Market - Global Forecast 2019-2023
Browse TOC and LoE with selected illustrations and example pages of operational analytics market
Industry Overview
Organizations are increasingly adopting business analytics or business intelligence software for data analytics to overcome challenges associated with the management of complex data. Furthermore, end-users are implementing business intelligence (BI) analytics in the cloud to generate valuable data from third-party sources. The demand for cloud-based data management strategies is increasing as end-users can leverage benefits such as security against a range of ransomware and viruses, ability to stay competitive with leading-edge capabilities with less capital and workforce, and effective data management. Enterprises also implement cloud-based data management strategies to improve customer relationships. This will aid vendors in increasing sales, which will contribute to operational analytics market growth during 2019-2023.
Major operational analytics market trends, such as the adoption of AI-based operational analytics by enterprises, will also drive the growth of this market. Enterprises are focusing on the adoption of AI-based analytics to gain real-time access to operational data and automate their decision-making process. AI-based operational analytics provide end-users with benefits such as the easy conversion of unstructured data, improved use of operations data, and enhanced generation of data insights. The technology can also detect fraudulent activities and identify customer purchase patterns. Such benefits will result in an increase in the adoption of operational analytics by end-users. As a result of these factors, the market will grow at a CAGR of over 13% during the forecast period.
Top Companies in Operational Analytics Market
The global market is concentrated. To help clients improve their market positions, this operational analytics market forecast report provides an analysis of the market’s competitive landscape and offers information on the products offered by various companies. This analytics market analysis report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies in creating strategies to make the most of future growth opportunities.
The report offers a detailed analysis of several leading companies, including:
- Hewlett Packard Enterprise Development LP
- IBM Corp.
- Oracle Corp.
- SAP SE
- SAS Institute Inc.
Market Segmentation
Operational Analytics Market by End-users
- Manufacturing
- Telecom and IT
- BFSI
- Transportation
- Retail
- Other end-users
The manufacturing sector will account for the highest operational analytics market share over the forecast period. The growing concentration on cost reduction and business process efficiency and the emergence of IIoT will boost the growth of the market segment during the forthcoming years. This report provides an accurate prediction of the contribution of all segments to the growth of the operational analytics market size.
Operational Analytics by Region
- APAC
- Europe
- MEA
- North America
- South America
With a complete study of the growth opportunities for companies, it has been identified that North America will account for the highest operational analytics market share throughout the forecast period. Factors such as the rising adoption of cloud-based services, the growing need for regulatory compliance, and the presence of major vendors are contributing to operational analytics industry growth in this region.
Major Highlights of the Operational Analytics Market - Global Forecast 2019-2023
- CAGR of the market during the forecast period 2019-2023
- Detailed information on factors that will accelerate the growth of the operational analytics market during the next five years
- Precise estimation of the global operational analytics market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the operational analytics industry across APAC, Europe, MEA, North America, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on several vendors
- Comprehensive details of factors that will challenge the growth of operational analytics companies
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