Dark Analytics Market Size Expected to Reach USD 2,269.9 Million at CAGR of 24.9%, By 2028

Adoption of artificial intelligence and machine learning for dark data analysis is propelling the market growth.

Dark Analytics Market Size – USD 421.8 Million in 2019, Market Growth – CAGR of 24.9%, Market Trends – Advent of digitization has increased e-commerce sales.

The Global Dark Analytics market is forecasted to reach USD 2,269.9 Million by 2028, according to a new report by Reports and Data. Data Analytics refers to the use of dark data to analyze and provide insights about customers, markets, and organizations. Dark data refers to the unused digital information. Employees, consumers, and businesses provide various information using sources like social media, IoT, financial transactions, and so on. From the data, relevant information is stored and used by interested users. But a section of unused data; the left behind is referred to as ‘dark’ data. By using machine learning and artificial intelligence, the largely unusable data can be structured and put that in order to make it more usable. The market for dark analytics is influenced by the increasing adoption of dark analytics in the healthcare sector.

The factors mentioned above collectively create opportunities for market growth, while factors such as non-uniformity of data and lack of skilled personnel in the market pose limitations in the market. However, each factor would have a definite impact on the market during the forecast period. Consistent advancements in the information and communications technology market owing to innovative efforts have enhanced the efficiency of the dark analytics market.

The Asia Pacific is a key region for the dark analytics market, and it is projected to grow at the highest rate during the forecast period owing to the increasing number of market players opting for analytical solutions and number of small and medium-sized enterprises implementing data analytics in the region.

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Key participants include Microsoft, AvePoint, Teradata, Symantec, Datameer, IBM, SAP SE, Amazon Web Services, Micro Focus, and Dell EMC, among others.

Further key findings from the report suggest

• On the basis of component, the solutions type segment held a larger market share of 60.4% in the year 2019. The growth is attributed to the increasing adoption of dark analytics tools that include IBM Watson, SAP HANA 2, Datumize Observer, Apache Hadoop, and Microsoft Cognitive Services. These tools possess features, such as video and sound analytics, machine learning, computer vision, and advanced pattern recognition.
• The on-premise segment is forecasted to grow with a higher CAGR of 25.3% during the forecast period. This is due to the rising security concerns across the BFSI and healthcare sectors and increasing regulation across telecommunication sectors.
• The marketing business application segment held the largest market share of 43.3% in the year 2019. Marketing is one of the vital business applications of any organization. The company’s marketing activity generates enormous customer data through sources, such as sales records, social media, websites, and cellphones. This stored data holds the potential to be a company’s most vital marketing resource, using which a company can create scalable and repeatable marketing processes.
• The Asia Pacific region is forecasted to grow with the highest CAGR of 25.8% during the forecast period. Countries such as India, China, Indonesia, Australia, and Malaysia have a high demand for data and analytics tools and platforms, which will increase the demand for dark analytics during the forecast period.

To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/dark-analytics-market

For the purpose of this report, Reports and Data have segmented into the global Dark Analytics market on the basis of component, deployment type, business application, end-use industry, and region:

Component Outlook (Revenue, USD Billion; 2020-2028)

• Solution
• Services

Deployment Type Outlook (Revenue, USD Billion; 2020-2028)

• On-Premise
• Cloud

Business Applications Outlook (Revenue, USD Billion; 2020-2028)

• Marketing
• Operations
• Finance
• Human Resources
• Others

End-Use Industry Outlook (Revenue, USD Billion; 2020-2028)

• Retail & E-Commerce
• BFSI
• Healthcare
• Travel & Hospitality
• Government
• Telecommunication
• Others

Regional Outlook (Revenue, USD Billion; 2020-2028)

• North America
• Europe
• Asia Pacific
• MEA
• Latin America

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Market Report includes major TOC points:

• Dark Analytics market Overview
• Global Economic Impact on Industry
• Global Market Competition by Manufacturers
• Global Production, Revenue (Value) by Region
• Global Supply (Production), Consumption, Export, Import by Regions
• Global Production, Revenue (Value), Price Trend by Type
• Global Market Analysis by Application
• Manufacturing Cost Analysis
• Industrial Chain, Sourcing Strategy and Downstream Buyers
• Marketing Strategy Analysis, Distributors/Traders
• Market Effect Factors Analysis
• Dark Analytics market Forecast

Conclusively, all aspects of the Dark Analytics market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.

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