Data analytics market to grow by USD 21,436 million between 2022 and 2027; Growth driven by extensive use of modern technology in company operations

NEW YORK, March 15, 2023 /PRNewswire/ — The data analytics market size is estimated to grow by USD 21,436 million from 2022 to 2027 at a CAGR of 13.84% during the forecast period. The growth of the market is driven by the extensive use of modern technology in company operations. Enterprises across industries are adopting advanced technologies to boost productivity and enhance their product or service offerings. The use of technologies such as cloud, IoT, big data, and analytics has resulted in innovation and is supporting the development of the business ecosystem. The adoption of these technologies is also helping enterprises to understand customer engagement through metrics. All these factors are creating significant growth opportunities for vendors in the market. To understand more about the data analytics market size historic period (2017 to 2021) and forecast (2023-2027), request a sample report

Data Analytics Market Insights –

• Vendors: 15+, including Alteryx Inc., Amazon.com Inc., Datameer Inc., Dell Technologies Inc., Hewlett Packard Enterprise Co., International Business Machines Corp., Microsoft Corp., Mu Sigma, Oracle Corp., Rapidops Inc., Salesforce.com Inc., SAP SE, SAS Institute Inc., Sisense Ltd., Teradata Corp., ThoughtSpot Inc., TIBCO Software Inc., Zoho Corp. Pvt. Ltd., Alphabet Inc., Fair Isaac Corp., among others

• Coverage: Parent market analysis; key drivers, major trends, and challenges; customer and vendor landscape; vendor product insights and recent developments; key vendors; and market positioning of vendors

• Segments: Component (Services, software, and Hardware), Deployment (Cloud and On-premise), and Geography (North America, Europe, APAC, Middle East and Africa, and South America)

Data Analytics Market – Regional analysis
The market is analyzed across regions such as North America, Europe, APAC, Middle East and Africa, and South America. North America will account for 33% of the market growth during the forecast period. The increase in the usage of smartphones, wearable gadgets, and other smart-connected devices has been crucial in driving the growth of the regional market. In addition, factors such as increased medical tourism and the strong presence of top vendors are supporting the growth of the data analytics market in North America.

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Global Data Analytics Market – Vendor Insights

Technavio report analyzes the market’s competitive landscape and offers information on several market vendors including –

• Amazon.com Inc. – The company offers Data analytics through various tools such as data access and blend with various cloud sources, data exploration, profiling and cataloging, data enrichment, and geospatial analytics.

• Datameer Inc. – The company offers Data Lakes and Analytics on AWS, from data movement, data storage, data lakes, big data analytics, log analytics, streaming analytics, business intelligence, and machine learning or ML to anything in between, AWS offers purpose-built services that provides the performance and scalability at lowest cost.

• Dell Technologies Inc. – The company offers data analytics solutions through coding and non-coding method with a built-in catalog that can be shared across various fields.

• Hewlett Packard Enterprise Co. – The company offers Data analytics through data lakehouse, dataStax application for noSQL, and real-time data screening.

Global Data Analytics Market – Market Dynamics

Major Drivers – 

• The extensive use of modern technology in company operations is becoming the major factor driving the growth of the global data analytics market. Advanced technologies and application such as the cloud, IoT, big data and analytics, mobility, and social media has revolutionized the overall business ecosystem. Online services have already set a benchmark in the banking and financial sectors which further lead to significant growth in online activity and websites. 
  The growing reach of the Internet and increasing usage of linked and integrated technologies will boost the global data analytics market growth. The growing usage rate of the Internet and the availability of various ways to access the Internet have led to a significant rise in data volumes. This has increased the development and expansion of high-speed Internet services. Globalization and economic expansion are also some key factors promoting increased data generation globally.

• Rising need to improve business efficiency – Download PDF Sample

KEY challenges – 

• An exponential increase in data

• Data privacy and security concerns

• Increasing threat from open-source data analytics vendors

Drivers and challenges have an impact on market dynamics and can impact businesses. Find some insights from a sample report.

The data analytics market report provides critical information and factual data, with a qualitative and quantitative study of the market based on market drivers and limitations as well as future prospects.

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What are the key data covered in this data analytics market report?

• CAGR of the market during the forecast period

• Detailed information on factors that will drive the growth of the data analytics market between 2023 and 2027

• Precise estimation of the size of the data analytics market and its contribution to the parent market

• Accurate predictions about upcoming trends and changes in consumer behavior

• Growth of the data analytics market industry across North America, Europe, APAC, Middle East and Africa, and South America

• A thorough analysis of the market’s competitive landscape and detailed information about vendors

• Comprehensive analysis of factors that will challenge the growth of data analytics market vendors

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• The IoT analytics market size is expected to increase by USD 49.04 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 27.48%. The market is segmented by component (software and services), end-user (manufacturing, retail, healthcare, telecommunication and IT, and others), and geography (North America, APAC, Europe, Middle East and Africa, and South America).

• The audience analytics market size is expected to increase by USD 3.86 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 11.15%. The market is segmented by application (sales and marketing management, customer experience engagement, and competitive intelligence) and geography (North America, Europe, APAC, Middle East and Africa, and South America).

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Table of contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Component

7 Market Segmentation by Deployment

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

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