ID: MRFR/ICT/2953-HCR | February 2021 | Region: Global | 100 pages
Embedded analytics is a solution that provides relevant information and analytical tools that will help all the sectors to work smarter and more efficiently in the applications. Embedded analytics has a wide range of application such as charts and graphs that displays performance, tabular views of data, comparing performance, and predictive analysis. The massive growth in data and technological advancement is encouraging people across the world to use analytics. These analytics is helping people to make better decisions and leading to a better outcome. Business organizations are using embedded analytics solutions to find out growth in revenue, an extension of the marketplace, and competitive advantage. According to the research, 90% of the survey respondents accepted that analytics tools play a crucial role in taking digital transformation initiatives.
Many business organizations are using embedded analytics tools to fulfill the customer's requirements to provide a great experience. The growing adoption of embedded analytics has increased in many businesses. These businesses are adopting embedded analytics with the motive of making better business decisions, improve productivity, and boost revenue. Analytics tools have changed the way how businesses make decisions, manage the business process, and create new services and products. The rise in data applications would contribute to embedded analytics market growth. The increase in volume and variety of data and growing demand for IT systems are expected to drive the demand of the embedded analytics market.
This embedded analytics market research report highlights the Market will reach $52 billion with a CAGR rate of 14% by 2023. Business application providers are using embedded analytics as a new revenue stream for their software solutions. These providers are reaching out to new customers by offering great solutions like embedded analytics. Embedded analytics offer many advantages, such as reducing losses, creating new opportunities, reduce costs, and increasing productivity by analyzing and fixing business issues in real-time. In the coming years, more applications will use advanced analytics, and it will drive the demand for the embedded analytics market.
Embedded Analytics Market Covid-19 analysis
The covid-19 pandemic had affected many sectors. Some sectors were affected in a good way, where other businesses suffered from the covid-19 pandemic. Due to the covid-19 pandemic situation, businesses around the whole world were shut down, and the lockdown was imposed in many countries. In this type, the only way for the businesses was to operate online. So many businesses used the Internet and online medium to reach their customers and fulfill their customer's demands. Online applications and social media platforms were used by the organizations to boost their sales. In this situation, a huge amount of data generated, the organizations take the help of analytics tools to deal with it. Embedded analytics solutions are used by companies to make better work decisions to boost productivity and sales. The embedded analytics market size will grow more after the covid-19 pandemic.
Embedded Analytics Market Dynamics
The embedded analytics market has many drivers that increase the demand of the Market. These drivers are helping to Market to grow, but there are some restraints and challenges also faced by the embedded analytics market.
Market drivers
Market opportunity
Market restraints
Market challenges
Cumulative growth analysis
Embedded Analytics Market Segmentation
The embedded analytics market segments are based on components, application, organization size, vertical, and regions.
Embedded Analytics Market Regional analysis
Embedded analytics studied in many major regions such as North America, Europe, Asia Pacific, and other regions. According to embedded analytics market analysis, North America holds the highest market share. The adoption of advanced technology across end-user Industries is driving the market in this region. The big data-driven organizations in North America and big healthcare, BFSI, manufacturing are fueling the boosting the market growth. Asia Pacific will dominate the market in the forecast period cause it has the highest CAGR rate and growing at a faster rate. The rise of the amount of data in various industries is increasing the demand of the Market in this region. The European region will also show rapid growth due to the increasing number of loT devices and the automotive industry in this region.
Embedded Analytics Market Competitive landscape
The major embedded analytics market players are:
Among Oracle Corporation (U.S.), Tableau Software (U.S.), TIBCO Software (U.S.), Birst (U.S.), MicroStrategy Incorporated (U.S.), Microsoft Corporation (U.S.), IBM (U.S.), SAP SE (Germany), SAS Institute (U.S.), Logi Analytics (U.S.), the most contributing key player In the market is Microsoft Corporation (U.S.).
Recent developments
Frequently Asked Questions (FAQ) :
The need to have access to suitable domain expertise is expected to play a significant role in the market.
TIBCO Software (U.S.), MicroStrategy Incorporated (U.S.), Oracle Corporation (U.S.), Tableau Software (U.S.), Birst (U.S.) and Logi Analytics (U.S.) are estimated to play a key role in market development.
The CAGR of 14% is understood to stimulate the growth of the market in the coming years.
The year of 2027is expected to see earnings valued at USD 52 Billion.
The market is better understood by segments such as application, components, deployment organization size, and vertical.