Embedded Analytics Market Research Report- Global Forecast 2027

Embedded Analytics Market, By Components (Software, Service), By Service (Professional Service, Managed Service), By Application (IT, Human Resource), By Deployment (Cloud, On-Premise), By Organization Size (Large Enterprises) - Forecast 2027

ID: MRFR/ICT/2953-HCR | February 2021 | Region: Global | 100 pages

Embedded Analytics Market overview

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

  • Businesses are always looking forward to classifying the huge amount of collected data. These data help the business to make better decisions and to beat its competitors. Businesses need embedded analytics to make the best decisions. Companies need analytics tools to make sense of collected data to provide a better experience to the customers as well as boost the sale: the Increasing data complexity and variety of data creating huge demand and driving the embedded analytics market growth. Analytics can help to convert complicated data into valuable information. The Increasing number of data-driven companies is expected to drive the demand for the embedded analytics market. The adoption of embedded analytics in the healthcare sector is expected to increase the demand for embedded analytics business. Embedded analytics can help in managing real-time data generated from different healthcare procedures. The healthcare industry produces a huge amount of data to help, so embedded analytics tools are used to gain valuable information.

Market opportunity

  • The global embedded analytics market will see so many opportunities in the coming year due to the increasing number of business applications.  The vast growth of the Internet of things, demand for a huge amount of data, demand for better decision making will bring so many opportunities for the growth of embedded analytics market trends. The rising demand for mobile devices and the large amount of data produced in different companies has resulted in the growth of embedded analytics. The huge amount of data required in e-commerce sectors to make better decisions for the customers has brought many opportunities to the embedded analytics market.

Market restraints

  • As there are many advantages of using embedded analytics tools but the businesses are using the traditional methods, and it has become one of the major restraints for the market. The business is already benefiting from Traditional BI tools, and they don't want to invest in any advanced technology. There are so many benefits of using embedded analytics, but the high replacement cost is causing a huge problem. The presence of traditional tools and high replacement costs are the major restraints in the embedded analytics market.

Market challenges

  • The embedded analytics market faces many challenges that hamper the growth of the market.  One of the biggest challenges for the Market is to make organizations understand the value of embedded analytics tools. Businesses are not upgrading their analytics tools as they are using the same traditional BI tools to get their work done, but with the embedded analytics, they can get better results. Lack of knowledge about advanced technology in underdeveloped regions has become one of the major concerns for the embedded analytics market.

Cumulative growth analysis

  • With the rapid adoption of embedded analytics In the IT sectors, e-commerce sectors, and healthcare departments, the embedded analytics business is expected to grow significantly in coming years. The market will reach $52 billion with a CAGR rate of 14% by 2023 and grow more in coming years. The embedded analytics market players are trying to boost the market demand by contributing highly to the Market.

Embedded Analytics Market Segmentation

The embedded analytics market segments are based on components, application, organization size, vertical, and regions.

  • Components- The components of the embedded analytics market are divided into software services and then the software services further divided into. Professional service and managed service.

  • Application- The application segment of the Market divided into IT, human resource, finance, marketing and sales, production, and others.

  • Deployment- The deployment segment of the Market is further carried out into cloud and on-premise. The cloud solution has the highest share in the Market.

  • Organization size- The organization size of the embedded analytics market can be segmented into small and medium organizations and large organizations.

  • Vertical- Vertical segment further segmented into IT and telecommunication, manufacturing healthcare, energy and utilities, media and entertainment, life science, and others.

  • Region- The region segment of the market includes regions such as North America, Europe, Asia Pacific, and other regions in the world.

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:

  • Microsoft Corporation (U.S.),

  • IBM (U.S.)

  • Oracle Corporation (U.S.)

  • MicroStrategy Incorporated (U.S.)

  • Tableau Software (U.S.)

  • TIBCO Software (U.S.)

  • SAP SE (Germany)

  • SAS Institute (U.S.)

  • Birst (U.S.)

  • Logi Analytics (U.S.)

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

  • In May 2017, Microsoft introduced Power Business Intelligence (BI) Premium that increases the flexibility in terms of sharing, distributing, and accessing the content.

  • In June 2017, IBM launched the first suite of cognitive solutions that will help financial institution professionals to manage their responsibilities.

  • In July 2017, OpenText launched OpenText Magellan, an analytics platform that will help to acquire, merge, manage, and analyze big data and big content.

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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.