LONDON, Sept. 5, 2016 /PRNewswire/ -- "Advent of Big Data & Internet of Things (IoT) is one of the drivers of the embedded analytics market.
The global embedded analytics market size is estimated to grow from USD 24.46 billion in 2016 to USD 46.19 billion by 2021 at a Compound Annual Growth Rate (CAGR) of 13.6%. There has been exponential growth of data from multiple sources such as network equipment, mobile phones, personal computers, and others. This data is managed and utilized to gain quick and actionable insights, which have leveraged the demand of embedded analytics applications. Enterprises are harnessing the power of analytics in making real-time decisions, improving the quality and increased profitability of the organization.
"Dashboards and data visualization submarket accounts for the largest market share during the forecast period"
Dashboards and data visualization market by analytical tool is estimated to hold the largest market share during the forecast period. This analytical tool is being used widely in various verticals to provide real-time insights (snapshots) to business analysts about the current status of the metrics and the key performance indicators for the enterprise. The tool provides comprehensive capabilities in facilitating enterprises to take quick actionable decisions. For example, it has been observed that, globally the data production across various verticals reached 5.6 zettabytes in 2015. In order to get the real-time insights out of this huge amount of data, organizations are looking for dashboards and data visualization analytical tools to get the ability to decipher and act on it swiftly.
"APAC is projected to grow at the highest rate during the forecast period"
North America holds the largest market share in 2016 and the trend is expected to continue in the coming years. The embedded analytics market is showing strong positive trend in this region as several companies and industries are adopting embedded analytics at various levels as a part of their strategy to gain a competitive advantage over other companies. The Asia-Pacific (APAC) market is expected to witness exponential growth and projected to be the fastest growing region for the global embedded analytics market. This is due to the flexible policies of the government in developing markets as well as the ever-expanding digital market which will leverage and embrace embedded analytics to outperform the performance metrics and improve customer satisfaction, thereby enhancing profitability.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people. The break-up profiles of primary participants is given below:
- By Company Type: Tier 1: 10%, Tier 2: 30%, and Tier 3: 60%
- By Designation: C-level: 16%, Director level: 27%, and Others: 57%
- By Region: North America: 60%, Europe: 10%, APAC: 30%,
The embedded analytics ecosystem comprises the following major vendors:
- Microsoft Corporation (U.S.)
- IBM Corporation (U.S.)
- SAP SE (Germany)
- OpenText Corporation (Canada)
- Microstrategy Incorporation (U.S.)
- Logi Analytics (U.S.)
- Sisense Inc. (U.S.)
- Birst Inc. (U.S.)
- Information Builders (U.S.)
- TIBCO Software Inc. (U.S.)
- Qlik (U.S.)
Objectives of the study:
The main objective of this report is to define, describe, and forecast the global embedded analytics market on the basis of analytical tools, business applications, deployment models, verticals, and regions. The report provides detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges. The report aims to strategically analyze micro-markets with respect to individual growth trends, future prospects, and contribution to the total market. The report attempts to forecast the market size with respect to five main regions, namely, North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and Latin America. The report strategically profiles key players and comprehensively analyzes their core competencies. This report also tracks and analyzes competitive developments such as joint ventures, Mergers and Acquisitions (M&A), new product developments, and Research & Development (R&D) activities in the embedded analytics market.
Following are the target audiences of the embedded analytics market report:
- Independent software vendors
- Cloud service providers
- Business analytics software providers
- Application design and software developers
- System integrators
- IT service providers
Scope of the Report
The research report categorizes the embedded analytics market to forecast the revenues and analyze the trends in each of the following sub-segments:
By Analytical Tools
- Dashboards and data visualization
By Business Application
- Human Resources (HR)
By Deployment Model
- Banking, Financial Services, and Insurance (BFSI)
- IT and telecommunication
- Government and defense
- Healthcare and life sciences
- Retail and consumer goods
- Media and entertainment
- Energy and utility
- Academia and research
- North America
- Middle East and Africa (MEA)
- Asia-Pacific (APAC)
- Latin America
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