Embedded Analytics Market Worth 46.19 Billion USD by 2021
PUNE, India, August 25, 2016 /PRNewswire/ --
According to a new market research report "Embedded Analytics Market by Tool (Dashboards & Data Visualization, Self-Service, Benchmarking, and Reporting), Business Application (Marketing, Sales, Operations, Finance and Human Resources), Deployment, Vertical, and Region - Global Forecast to 2021", published by MarketsandMarkets, the market 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%.
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Browse 52 market data Tables and 50 Figures spread through 148 Pages and in-depth TOC on "Embedded Analytics Market"
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Advent of big data and Internet of Things (IoT), increasing dependence on mobile & cloud technologies, and increasing demand for infused analytics in business applications are the driving forces of embedded analytical tools and technology. The enormous benefits of infusing analytics in business applications have attracted enterprises to deploy the tools and have leveraged the Embedded Analytics Market.
Self-service analytical tool is estimated to grow at the highest CAGR
The Embedded Analytics Market has been segmented by analytical tool into dashboards & data visualization, self-service, benchmarking, and reporting. Self-service is expected to witness the highest CAGR during the period of 2016-2021. The self-service tool offers numerous advantages which include quick and deeper insights into the data, customizable reports around the data, and reduced dependence on IT support teams.
Human Resources (HR) segment by business application to grow at the highest rate during the forecast period"
The Embedded Analytics Market by business application has been segmented into marketing, sales, operations, finance, and HR. The HR market is expected to grow at the highest CAGR over the forecast period. The digitalization of employee data and payroll processes has acted as a driving growth for the Embedded Analytics Market. HR mangers can analyze data in real time and come up with effective decisions that improve overall employee engagement, retention, and satisfaction.
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North America is expected to dominate the Embedded Analytics Market during the forecast period
North America is expected to hold the largest share of the global market in 2016 due to the presence of large enterprises, technical experts, and growing demand for embedded analytics tools and technologies in this region. The market in Asia-Pacific (APAC) is expected to grow at the highest CAGR between 2016 and 2021. The primary driving force for this growth is the massive growth of data through various channels such as social media, mobile computing, and IoT in this region.
The report also encompasses different strategies, such as mergers & acquisitions, partnerships & collaborations, and product developments, adopted by major players to increase their shares in the Embedded Analytics Market. Some of the major technology vendors include 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.) and Qlik (U.S.).
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