Market Research Future Analysis shows that Data Analytics market will be adopted widely around the globe soon. Organization who falls under the umbrella of SMEs have realized that data analytics could help to grow their business on very large scale whereas Tier I and Tier II companies are using data analytics to understand the demand pattern and make the wise decisions accordingly.
Data Analytics is a statistical method of analyzing and examining a very large amount of data to gain an effective outcome. In this method the data is collected from the past trends and processed to gain the insightful information which can help in business growth. May it be Cost reduction, new product or service launch or need to make a quick decision the data analytics proves to be very helpful, Confirms the Scholar of Market Research Future.
The report comprises of wide primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinions of leaders to gain a deeper insight of the market and industry performance. It gives a clear picture of current market scenario which includes historical and future market size in terms of value, technological advancement, macro economical and governing factors of the market. The report provides detailed information and strategies of the top key players in the industry. It also gives a broad study of the different market segments and regions.
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The prominent players in the market of data analytics market are- IBM (U.S), Alteryx (U.S.) BigPanda (U.S.) SAS Institute (U.S.), Dell (U.S.), Microsoft Corporation (U.S.), Amazon Web Services (U.S.), Cogito Corporation (U.S.), Datameer (U.S.), Looker (U.S.) among others.
High adoption rate of technology and growing analytics market has driven the Industry of Data Analytics Market to a considerable amount. This market is currently growing with CAGR of ~31% and expected to grow at US $~159 billion by the end of forecasted period.
Market Synopsis & Scenario:
Organizations are convinced upon that they need to employ data analytics when they are in the process of looking to leverage the data to help them better predict what will happen. They also know that they need to be faster and more sophisticated when it comes to decision-making capabilities. As improving both, speed and sophistication helps them to maximize the return on investment.
Increasing demand to counter big data challenges paired with emerging technologies along with business intelligence and analytics are the most prominent factors expected to boost the demand for data analytics in coming years. Small and medium-sized companies are coming with updated solution and services to optimize the efficiency of businesses with lower cost as compared to established players. In addition, cost reductions from cloud deployment models, benefits of data analytics over traditional analytics, increasing need to address vertical specific challenges are the some of the contributing factors for the growth of Data analytics Market in coming years. On the other hand, technical misspecifications of data analytics is expected to pose a challenge to market growth. Nonetheless, adoption by niche industries is likely to open new doors for the Data analytics demand.
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- Data Analytics Companies
- Analytics Service Providers
- Software Developer Companies
- Service Providers
- Manufacturing Companies
- Big Data Analytics Service Providers
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