Data Analytics Market Driven by Increased Adoption of Cloud Computing and Big Data
Tokyo, Japan, June 06, 2023 (GLOBE NEWSWIRE) -- According to the research report published by Market Research Future (MRFR) titled " Data Analytics Market : Information By Type, By Solution, By Application, By Deployment, and By Region– Market Forecast Till 2030," the Data Analytics Market is projected to grow at a rate of 27.60% between 2023 and 2030. The market size is expected to reach approximately USD 303.4 Billion by the end of 2030.
Market Synopsis
Data analytics is the process of collecting, cleaning, analyzing, and interpreting data to gain insights that can be used to improve business decision-making. Big data analytics is a type of data analytics that deals with large and complex data sets. Real-time analytics is a type of data analytics that provides insights into data as it is being generated. Predictive analytics is a type of data analytics that uses historical data to predict future outcomes.
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Market Competitive Landscape:
- IBM Corporation (US)
- Microsoft (US)
- Oracle (US)
- SAP SE (Germany)
- Amazon Web Services Inc. (US)
- Tableau Software LLC. (US)
- SiSense Inc (US)
- Zoho Corporation Pvt. Ltd. (India)
- ThoughtSpot Inc. (US)
- Mu Sigma (US)
- Looker Data Sciences Inc. (US)
- Datameer Inc. (US), among others
Scope of the Report - Data Analytics Market:
| Report Metrics | Details |
| Market Size by 2030 | USD 303.4 Billion |
| CAGR during 2023-2030 | 27.60% |
| Base Year | 2022 |
| Forecast | 2023-2030 |
| Key Market Opportunities | Rise in adoption of technologies and big data analytics. |
| Key Market Dynamics | A sharp increase in data volume. Rise in data connectivity through cloud computing. Incorporation of digital transformation in top-level strategies. |
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The report on the global data analytics market provides a detailed analysis of the market, including its size, growth, segmentation, and competitive landscape. The report also provides insights into the factors driving and restraining the growth of the market.
Segments
The descriptive analytics segment is expected to be the largest segment of the market during the forecast period. This is due to the increasing demand for descriptive analytics solutions from businesses to gain insights into their operations and make better decisions.
The predictive analytics segment is expected to grow at the highest CAGR during the forecast period. This is due to the increasing adoption of predictive analytics solutions by businesses to predict future trends and make better decisions.
The prescriptive analytics segment is expected to be the fastest-growing segment of the market during the forecast period. This is due to the increasing adoption of prescriptive analytics solutions by businesses to optimize their operations and improve their bottom line.
Industry Trends
- Increasing adoption of big data
- Growing use of data analytics in various industries
- Rising demand for real-time data analytics
- Increasing focus on customer insights
- Growing need for regulatory compliance
Regional Analysis
North America is expected to be the largest market for data analytics during the forecast period. This is due to the presence of a large number of leading players in the region, the increasing adoption of big data and data analytics in various industries, and the rising demand for real-time data analytics.
Europe is expected to be the second-largest market for data analytics during the forecast period. This is due to the increasing adoption of big data and data analytics in various industries, the rising demand for real-time data analytics, and the growing focus on customer insights.
Asia Pacific is expected to be the fastest-growing market for data analytics during the forecast period. This is due to the growing adoption of big data and data analytics in various industries, the rising demand for real-time data analytics, and the increasing focus on customer insights.
Browse In-depth Market Research Report (110 Pages, Charts, Tables, Figures) on Data Analytics Market - https://www.marketresearchfuture.com/reports/data-analytics-market-1689
The Impact of COVID-19 on the Data Analytics Industry
The COVID-19 pandemic has had a significant impact on the data analytics industry. The pandemic has forced businesses to adapt to new ways of working, and it has also led to an increase in the demand for data analytics solutions.
Businesses that have been forced to adapt to new ways of working have turned to data analytics to help them to make better decisions. For example, businesses have used data analytics to track the spread of the virus, identify at-risk employees, and make changes to their operations.
The pandemic has also led to an increase in the demand for data analytics solutions from businesses that are not directly affected by the virus. For example, businesses have used data analytics to track customer behavior, identify new opportunities, and reduce costs.
The COVID-19 pandemic has had a positive impact on the data analytics industry. The pandemic has forced businesses to adapt to new ways of working, and it has also led to an increase in the demand for data analytics solutions. This has led to growth in the data analytics industry , and it is expected that this growth will continue in the coming years.
This Research Report is Available in the Japanese Language:
https://www.marketresearchfuture.com/ja/reports/data-analytics-market-1689
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