NEW YORK, July 11, 2016 /PRNewswire/ -- Use this report to:
- Receive a market overview and detailed segmentation based on software tools, integrated hardware appliances and advanced analytics services.
- Gain information on leading players and regional markets of advanced analytics by segment.
- Learn about the different kinds of services, including telecom and IT, life sciences, transportation and logistics, banking and financial, and Consumer Packaged Goods (CPG) and retails.
- Receive information on cloud deployment types and future prospects of advanced analytics.
- The global market for advanced analytics totaled $207.4 billion in 2015, and should total nearly $219.3 billion by 2020, a five-year compound annual growth rate (CAGR) of 1.1%, through 2020.
- Services as a segment totaled $107.5 billion in 2015 and should total nearly $114.6 billion by 2020, a CAGR of 1.3% through 2020.
- Software tools as a segment totaled nearly $83.0 billion in 2015 and should total nearly $89.4 billion by 2020, a CAGR of 1.5% through 2020.
Introduction & Scope
The adoption of advanced analytics has gained significant traction across the globe in recent years as organizations try to gain a competitive edge and optimize their operations costs. Analytics helps organizations predict the future by forecasting insights and trends. Advanced analytics effectively addresses the pain points of uncertainty faced by different industries with customized solutions. Advanced analytics is the analysis of all kinds of data using sophisticated quantitative methods such as statistics, predictive and descriptive data mining, visualization and optimization for forecasting and providing insights into future trends. This advanced
analytics research report categorizes the global market by segments and applications.
STUDY GOALS AND OBJECTIVES
This research report provides a market overview and detailed segmentation based on software tools, integrated hardware appliances and advanced analytics services. All segments are further broken down by region: North America, Europe, Middle East and Africa, Asia-Pacific (APAC) and Latin America. Furthermore, this report provides detailed analysis of global trends and forecasts as well as the market's competitive landscape.
SCOPE OF THE REPORT
The advanced analytics market comprises applications for the following industries: banking and financial services, telecommunications and IT, healthcare, government and defense, transportation and logistics, and consumer goods and retail. In 2014, the banking and financial services segment accounted for the highest market share and is expected to remain the leader through 2020. The banking and financial services sector uses advanced analytics to mitigate fraud, optimize processes and manage risks. The telecom sector uses analytics to protect customers from fraud and minimize churn by offering precise marketing programs for
specific customers. The healthcare industry uses analytics to improve clinical performance, and detect and manage fraud. Retail companies use advanced analytics to gain insight into consumers' buying behavior and help with merchandize planning and size optimization.
Specifically excluded from the study, as they are considered beyond the scope of this report, are trends and theme topics around advanced analytics such as mobile app analytics, big data, data science, location analytics, high-performance computing (HPC), data lake, Internet of Things (IoT), digital analytics, artificial intelligence (AI), machine to machine (M2M), mobile business intelligence (BI), social media analytics
and data visualization tools.
REASONS FOR DOING THE STUDY
BCC Research believes the addressable market for advanced analytics is expected to grow due to increased realization of value by end users, cost reductions from cloud deployment models and the emergence of niche players bringing newer innovative solutions and services to market at much lower costs than tier 1 players.
The intended audience for this report includes marketers, suppliers, customers, analysts and investors.
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