PUNE, India, February 3, 2017 /PRNewswire/ --
According to a new market research report "Top 10 Analytics Technologies (Analytics-As-A-Service, Streaming Analytics, Edge Analytics, Data Lakes, Social Media Analytics, Predictive Analytics, Security Analytics, High-Performance Data Analytics, Content Analytics, and Video Analytics)", published by MarketsandMarkets, the analytics market is expected to grow at a significant rate between 2015/2016 and 2020/2021.
Browse 55 market data Tables and 59 Figures spread through 183 Pages and in-depth TOC on "Top 10 Analytics Technologies"
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The growth of this market is propelled by the advent of Internet of Things (IoT) and proliferation of massive amount of data through connected devices, increasing the focus on competitive insights, need for increased business agility and scalability, and growing volume and variety of business data across industry verticals.
High-performance data analytics expected to be the top analytics technology and likely to hold the largest share of the market during the forecast period
The high-performance data analytics market is expected to have the largest market size of USD 25.71 Billion in 2016 and to grow at a Compound Annual Growth Rate (CAGR) of 24.9% during the forecast period. High-Performance Computing (HPC) and big data analytics together can be applied to extract actionable insights out of large amounts of data with higher resolutions and at faster speed. This has provided better benefits to various enterprises to access data in real time. Enterprises are embracing High-Performance Data Analytics (HPDA) technologies, as they provide advanced ways to analyze data at an optimized cost.
The market for high-performance data analytics is growing owing to the proliferation of open-source frameworks for big data analytics and the ability of powerful HPC systems to process data at higher resolutions. Among verticals, Banking, Financial Services, and Insurance (BFSI) is expected to hold the largest market share in 2016 and the healthcare and life science industry is expected to have a significant growth rate during the forecast period. This is due to the fact that the healthcare and life sciences vertical is undergoing rampant transformation and advanced research, which is churning out massive amounts of data.
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Market for analytics as a service expected to grow at the highest rate between 2016 and 2021
The market for analytics as a service is expected to grow at the highest rate in the Top 10 Analytics Technologies Market, which is expected to have the market size of USD 4.76 Billion in 2016 and to grow at a CAGR of 37.6% during the forecast period. Organizations deploy analytical solutions to extract actionable insights out of enormous amounts of data. The cloud-based analytical solutions have gained traction due to their scalability and cost effectiveness. Owing to their low infrastructural cost and the ability to provide easy access to data, the cloud-based analytical solutions have gained popularity among various organizations.
The analytics as a service market is expected to be the next big thing in a few years. The analytics as a service market is also been segmented on the basis of solutions and services. The analytics as a service solutions are financial analytics, risk analytics, customer analytics, marketing analytics, sales analytics, web & social analytics, supply chain analytics, and network analytics. Among these solutions, financial analytics is expected to hold the largest market share in 2016.
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The key analytics vendors in the market for Top 10 Analytics Technologies include IBM Corporation (U.S.), Oracle Corporation (U.S.), SAS Institute (U.S.), SAP SE (Germany), Microsoft Corporation (U.S.), Dell Technologies, Inc. (U.S.), Cisco Systems (U.S.), Hewlett-Packard Enterprise (U.S.), GoodData Corporation (U.S.), and Informatica Corporation (U.S.).
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Streaming Analytics Market by Type (Solution & Services), Applications (Fraud Detection, Sales & Marketing Management, Predictive Asset Maintenance, Risk Management, Network Management, Location Intelligence, & Operations Management), Vertical, Regions - Global Forecast to 2021
Analytics as a Service Market by Solution (Financial Analytics, Risk Analytics, and Customer Analytics), Services, Analytics Type (Prescriptive, Predictive), Deployment Model, Organization Size, Verticals, and Regions - Global Forecast to 2021
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