Advanced Analytics Market:
WiseGuyReports.com adds “Global Advanced Analytics Market Research Report 2020 Analysis and Forecast 2027” reports to its database.
Increasing demand for digital transformation, increasing investment in analytics, growing demand for remote services and location data and increasing need for real-time information to track and control COVID-19 spread are the key factors driving the development of COVID-19 impact on the analytics industry. Analytics will allow companies to improve operating efficiencies and reduce costs. With traditional data architecture and models, organizations are finding it difficult to maintain data and make effective decisions. Enterprises have realized the need for solutions that are able to access a large volume of data and empower data analysts to focus on data-driven goals to gain insights into data. Companies in diverse industries such as BFSI, IT and Telecom, and energy and utilities exploit sophisticated analytics for smooth data collection to making timely decisions to retain their strategic advantage in the marketplace. A major factor responsible for market development is the growing acceptance of predictive tools in the retail industry for practices such as demand modeling, behavioral analytics, and trade marketing optimization. Owing to the massive acceptance of unorganized data generated by streaming activities for video subscription services such as Netflix, Amazon Prime Video, and Hulu, demand for database management software has gone up tremendously in recent years. This has turned the market for advanced analytics into development. The amount of data generated worldwide is projected to rise to 163 zettabytes by 2025 from 12 zettabytes in 2015, according to research provided by Seagate Technology LLC. In addition, continuing developments in location-based technologies and the convergence of this technology with the Geographical Information System (GIS) have resulted in improved geospatial data. As a result, numerous businesses are embracing sophisticated analytics to identify their customers on a map by geospatial data and accordingly draft their strategies. In addition, the rise of the e-commerce market led to an increase in demand for advanced analytics solutions.
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The regional analysis of COVID-19 Impact on Advanced Analytics Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. In terms of value, the North America is expected to account for the majority of the market owing to the increasing the use by automakers in the region of specialized analytical methods. For eg, SAS Institute Inc. bagged a Volvo Trucks North America contract for the delivery of its advanced analytics platform in October 2018. By improving remote diagnostics, this has helped Volvo Trucks North America strengthen its portfolio of uptime-boosting services.
Major market player included in this report are:
Altair Engineering, Inc.
Fair Isaac Corporation
SAS Institute Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Industry Verticals:
Banking, Financial Services and Insurance (BFSI)
Energy and Utilities
Government and Defense
Telecommunications and IT
Media and Entertainment
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017, 2018
Base year – 20198
Forecast period – 2020 to 2026
Target Audience of the COVID-19 Impact on Advanced Analytics Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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NOTE : Our team is studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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