All updated as on -
In 2022, the market size for data analytics was estimated to be around 55.9 billion USD. It is anticipated that the market for data analytics will increase from USD 7.08 billion in 2023 to USD 303.6 billion by 2030, demonstrating a compound annual growth rate (CAGR) of 28.60% during the period of time covered by the forecast (2023 - 2030). The expansion of the market for data analytics is being driven in large part by the growing interest in big data and predictive analytics; this trend is projected to continue during the period covered by the forecast. In recent years, there has been a rise in interest in data analytics, which has resulted in this field being even more important since the publication of Covid-19. These are the primary forces that are propelling the expansion of the market.
Data analytics is essential for businesses because it enables them to manage, process, and simplify enormous datasets in real time while also boosting their capacity for making decisions based on data. In addition, the primary goal of big data and business analytics is to assist companies in gaining a deeper understanding of their customers and the markets to which they are attempting to sell their products or services, which will ultimately improve marketing efforts. It is projected that the presence of these traits would raise acceptance by a large number of firms originating from a variety of industries, which in turn will push the expansion of the big data market.
Recent advancements in big data analytics, such as social media analytics and text analytics, are expected to create a plethora of new commercial opportunities in the near future. In addition, many companies now use social media as their primary source for a wide variety of advertising campaigns, product promotions, and events due to the fact that social media advertising is more effective than traditional advertising. In addition, the development in popularity of internet-connected mobile devices such as smartphones and tablets, as well as the expanding number of users on social media platforms, is encouraging the expansion of social media analytics. This is because both of these trends make it easier to collect data from users of social media platforms. In a corporate climate that requires organisations to move swiftly, the needs that customers have are constantly shifting.
The expansion of the data analytics market is predicted to be driven by the increasing usage of data analytics tools for forecasting and predicting applications such as trade markets, healthcare data, research analysis, and traffic trend forecasting. The utilisation of data analytics in the process of demand forecasting can assist businesses in arriving at well-informed judgements and increasing their levels of profitability. In the most recent few years, government agencies and other industries, including banking, e-commerce, and IT services, have made significant investments in big data and business intelligence technologies, which has driven demand within the industry.
Customers' in-store shopping experiences are improved thanks to the growth of the e-commerce industry. The most important components in raising a company's sales are email marketing campaigns, advertising that is only focused on the internet and social media, and analytics regarding customer service. Retailers are putting more of an emphasis on the analysis of real-time consumer purchase behaviour because of the growing popularity of connected gadgets. The findings from the real-time analysis can also be utilised to devise individualised promotions in an effort to maintain and grow client loyalty. However, worries over the safety of customers' data may slow the expansion of the sector.
The field of data analytics is absolutely necessary for enhancing corporate operations and reducing the amount of data that is lost. Volume, diversity, and speed are the three distinguishing characteristics that define this service. The creation of increased insight from unstructured data and the discovery of data that may support business ideas are two of the many ways that data analytics provides organisations with power. The use of analytical tools has the potential to provide business analysts and other users within an organisation with a competitive advantage and to generate value for the company. In addition to this, it enables businesses to enhance their marketing plans, quicken the pace of their corporate growth, and differentiate themselves from their rivals all while retaining the efficiency of their procurement processes.
Report Coverage
Global Data Analytics research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Data Analytics report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Data Analytics competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Data Analytics market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Data Analytics market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Data Analytics market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Agilent Technologies Inc., Thermo Fisher Scientific Inc., Illumina Inc., QIAGEN, F. Hoffmann-La Roche Ltd., Oxford Nanopore Technologies Ltd., Macrogen Inc., Perkin Elmer Inc., Pacific Biosciences of California Inc., BGI.
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Data Analytics market based on the below-mentioned segments:
Global Data Analytics Market, By Type
Predictive Analytics
Prescriptive Analytics
Descriptive Analytics
Customer Analytics
Global Data Analytics market, By Application
Enterprise Resource Planning
Supply Chain Management
Human Resource Management
Database Management
Global Data Analytics Market, By Solution
Data Management
Fraud & Security Intelligence
Data Mining
Data Monitoring
Global Data Analytics market, Regional Analysis
Data analytics is essential for businesses because it enables them to manage, process, and simplify enormous datasets in real time while also boosting their capacity for making decisions based on data. In addition, the primary goal of big data and business analytics is to assist companies in gaining a deeper understanding of their customers and the markets to which they are attempting to sell their products or services, which will ultimately improve marketing efforts. It is projected that the presence of these traits would raise acceptance by a large number of firms originating from a variety of industries, which in turn will push the expansion of the big data market.
Recent advancements in big data analytics, such as social media analytics and text analytics, are expected to create a plethora of new commercial opportunities in the near future. In addition, many companies now use social media as their primary source for a wide variety of advertising campaigns, product promotions, and events due to the fact that social media advertising is more effective than traditional advertising. In addition, the development in popularity of internet-connected mobile devices such as smartphones and tablets, as well as the expanding number of users on social media platforms, is encouraging the expansion of social media analytics. This is because both of these trends make it easier to collect data from users of social media platforms. In a corporate climate that requires organisations to move swiftly, the needs that customers have are constantly shifting.
The expansion of the data analytics market is predicted to be driven by the increasing usage of data analytics tools for forecasting and predicting applications such as trade markets, healthcare data, research analysis, and traffic trend forecasting. The utilisation of data analytics in the process of demand forecasting can assist businesses in arriving at well-informed judgements and increasing their levels of profitability. In the most recent few years, government agencies and other industries, including banking, e-commerce, and IT services, have made significant investments in big data and business intelligence technologies, which has driven demand within the industry.
Customers' in-store shopping experiences are improved thanks to the growth of the e-commerce industry. The most important components in raising a company's sales are email marketing campaigns, advertising that is only focused on the internet and social media, and analytics regarding customer service. Retailers are putting more of an emphasis on the analysis of real-time consumer purchase behaviour because of the growing popularity of connected gadgets. The findings from the real-time analysis can also be utilised to devise individualised promotions in an effort to maintain and grow client loyalty. However, worries over the safety of customers' data may slow the expansion of the sector.
The field of data analytics is absolutely necessary for enhancing corporate operations and reducing the amount of data that is lost. Volume, diversity, and speed are the three distinguishing characteristics that define this service. The creation of increased insight from unstructured data and the discovery of data that may support business ideas are two of the many ways that data analytics provides organisations with power. The use of analytical tools has the potential to provide business analysts and other users within an organisation with a competitive advantage and to generate value for the company. In addition to this, it enables businesses to enhance their marketing plans, quicken the pace of their corporate growth, and differentiate themselves from their rivals all while retaining the efficiency of their procurement processes.
Report Coverage
Global Data Analytics research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Data Analytics report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Data Analytics competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Data Analytics market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Agilent Technologies Inc., Thermo Fisher Scientific Inc., Illumina Inc., QIAGEN, F. Hoffmann-La Roche Ltd., Oxford Nanopore Technologies Ltd., Macrogen Inc., Perkin Elmer Inc., Pacific Biosciences of California Inc., BGI. |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Data Analytics Market from 2021 to 2030.
- Market Forecast for Data Analytics Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Data Analytics competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Data Analytics
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Data Analytics market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Data Analytics market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Agilent Technologies Inc., Thermo Fisher Scientific Inc., Illumina Inc., QIAGEN, F. Hoffmann-La Roche Ltd., Oxford Nanopore Technologies Ltd., Macrogen Inc., Perkin Elmer Inc., Pacific Biosciences of California Inc., BGI.
Primary Target Market
- Market Players of Data Analytics
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Data Analytics market based on the below-mentioned segments:
Global Data Analytics Market, By Type
Predictive Analytics
Prescriptive Analytics
Descriptive Analytics
Customer Analytics
Global Data Analytics market, By Application
Enterprise Resource Planning
Supply Chain Management
Human Resource Management
Database Management
Global Data Analytics Market, By Solution
Data Management
Fraud & Security Intelligence
Data Mining
Data Monitoring
Global Data Analytics market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
You will get in-depth and extensive data analytics market market research and competitor analysis for your business to help you develop more profound insights into the data analytics market Market.
Through INFINITIVE Data Expert is a professional Market Research services, I will identify the data analytics market market size, demand & opportunities, growth rate, and target audience with a comprehensive analysis of your competitors.