Data Analytics Market Booming Growth | Challenges Potential Benefits till 2030 | IBM Corporation, SAP SE, Oracle
Research Reports
Feb 17, 2023
Global Data Analytics Market: The Data Analytics market is driven by the development of mobile technology with a healthy CAGR of ~27.6% during the forecast period of 2022 to 2030.
Market Research Future Insights
According to MRFR analysis, the global Data Analytics market is expected to register a CAGR of ~27.6% from 2022 to 2030 and hold a value of over USD 3,032.5 billion by 2030.
Data analytics is a statistical strategy for evaluating and looking at a lot of data to get a good result. Insightful knowledge that can aid in corporate growth can be gained from the data processed in this way, which can be gleaned from historical trends. The three main areas where data analytics can be particularly useful are cost reduction, quicker decision-making, and new product or service launches. The market’s main drivers are rising analytics and a high adoption rate of technology. During the pandemic, one of the flourishing sectors is healthcare. The market is under intense pressure to develop and provide ventilators, anti-viral medications, PPE, and prophylactic medications on a global scale. A patient care, regulatory compliance, and record-keeping have historically been the primary drivers of data generation in the healthcare sector. Numerous healthcare institutions are using cutting-edge technology, such as machine learning, data analytics, and artificial intelligence (AI), to evaluate complicated data during the COVID-19 pandemic and track and lessen the virus’s effects.
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Data Analytics Market Report Scope:
| Parameter | Details |
| Revenue Forecast in 2030: | USD 3,032.5 Billion |
| Growth Rate: | CAGR of 27.6% from 2022 to 2030 |
| Forecast Period: | 2022 -2030 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Regional Analysis
North America held the biggest market share since there were many major players and technical advancements there. The adoption of predictive analytics in big data, together with the adoption of Hadoop architectures by some significant e-commerce giants such as Wal-Mart and eBay, is causing the data analytics market in the region to grow in value.
Europe as a result of the substantial investment and focus from European organizations. Additionally, businesses are increasingly using a data-driven strategy to govern their operations. Due to its significant investment in prescriptive analytics, the UK has the largest economy in the industry.
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Market Segmentation
The Global Data Analytics market has been segmented into Type, Solution, Deployment, and Application.
Based on the Type, the market has been segmented into Predictive Analytics, Prescriptive Analytics, Descriptive Analytics, and Customer Analytics.
Based on the Solution, the data analytics market has been segmented into Data Management, Fraud & Security Intelligence, Data Mining, and Data Monitoring.
Based on the Deployment, the market has been segmented into Cloud and On-Premises.
Based on the Application, the data analytics market has been segmented into Enterprise Resource Planning, Supply Chain Management, Human Resource Management, and Database Management.
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Key Players
Some of the key market players are IBM Corporation, Microsoft, Oracle, SAP SE, Amazon Web Services Inc, Tableau Software LLC, SiSense Inc, Zoho Corporation Pvt. Ltd, ThoughtSpot Inc, Mu Sigma, Looker Data Sciences Inc, Datameer Inc.
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