Data Analytics Market Growth Drivers and Opportunities by 2031
The data analytics market is expected to register a CAGR of 29.3% during 2023–2031. Increasing focus on edge computing is likely to remain a key trend in the market.
Data Analytics Market Analysis
- The data analytics market includes growth prospects owing to the current market trends and their foreseeable impact during the forecast period.
- The data analytics market is growing owing to factors such as the rise of big data analytics, increasing cloud technology expenditures, and large amounts of data generated by various industries.
- AI-powered data analytics to provide lucrative opportunities for the cloud collaboration market.
Data Analytics Market Overview
- Data analytics is the systematic analysis and interpretation of data to provide insightful conclusions and aid in well-informed decision-making.
- It includes a variety of methods, instruments, and procedures for gathering, purifying, transforming, and analyzing substantial amounts of both organized and unstructured data.
- Data analytics is constantly evolving as a result of technological advancements, combining real-time processing capabilities, machine learning, and artificial intelligence to deliver deeper, more timely insights.
- In the end, data analytics gives companies and organizations the ability to make decisions based on data, which boosts productivity, competitiveness, and overall performance in a world where data is becoming more and more important.
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Data Analytics Market: Strategic Insights
Data Analytics Market
-
CAGR (2023 - 2031)
29.3%
-
Market Size 2023
US$ XX Billion
-
Market Size 2031
US$ XX Billion
Market Dynamics
GROWTH DRIVERS
- AI-powered data analytics
FUTURE TRENDS
- Increasing focus on edge computing
OPPORTUNITIES
- XXXXXXX
- XXXXXXX
- XXXXXXX
Key Players
- Amazon Web Services Inc
- Dell Inc
- IBM Corporation
- Informatica
- Microsoft Corporation
- MicroStrategy Incorporated
- Oracle Corporation
- SAP SE
- SAS Institute Inc
- Tableau Software LLC
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Type
- Prescriptive Analytics
- Predictive Analytics
- Customer Analytics
- Descriptive Analytics
Application
- Supply Chain Management
- Enterprise Resource Planning
- Database Management
- Human Resource Management
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Data Analytics Market: Strategic Insights
-
CAGR (2023 - 2031)29.3% -
Market Size 2023
US$ XX Billion -
Market Size 2031
US$ XX Billion
Market Dynamics
- AI-powered data analytics
- Increasing focus on edge computing
- XXXXXXX
- XXXXXXX
- XXXXXXX
Key Players
- Amazon Web Services Inc
- Dell Inc
- IBM Corporation
- Informatica
- Microsoft Corporation
- MicroStrategy Incorporated
- Oracle Corporation
- SAP SE
- SAS Institute Inc
- Tableau Software LLC
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
- Prescriptive Analytics
- Predictive Analytics
- Customer Analytics
- Descriptive Analytics
- Supply Chain Management
- Enterprise Resource Planning
- Database Management
- Human Resource Management
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Data Analytics Market Drivers and Opportunities
Large Amounts Of Data Generated By Various Industries to Favor Market
- The amount of data generated annually is growing at a rapid pace.
- According to the latest estimates, 402.74 million terabytes of data are created each day, and around 147 zettabytes of data will be generated in 2024. Around 181 zettabytes of data will be generated in 2031.
- The ability to process and analyze data is becoming crucial for many industries.
- Data analytics helps to structure and categorize huge amounts of data, making them manageable and usable. Numerous sectors employ data analytics to boost productivity, cut expenses, find new business prospects, and make data-driven decisions.
AI-Powered Data Analytics
- AI-powered data analytics is responsible for the change in business operations in the current world.
- The emergence of artificial intelligence in data analytics has improved human data handling skills while also enhancing data analysis and visualization.
- AI systems' ability to adapt to change enables humans to make judgments more quickly and flexibly.
- Due to sophisticated and dynamic algorithms that evaluate data at various scales and support several scenarios that are impractical to accomplish with conventional techniques, AI-powered data analytics are currently in vogue.
- AI algorithms are known to have increased production lead by 50%, and 80% of workers reported increased productivity.
Data Analytics Market Report Segmentation Analysis
Key segments that contributed to the derivation of the data analytics market analysis are type and application.
- By type, the market is segmented into prescriptive analytics, predictive analytics, customer analytics, descriptive analytics, and others.
- By application, the market is segmented into supply chain management, enterprise resource planning, database management, human resource management, and others.
Data Analytics Market Share Analysis by Geography
- The data analytics market report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
- Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering data analytics market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level.
- Also, the report covers PEST analysis, which involves the study of major factors that influence the data analytics market in these regions.
Data Analytics Market Report Scope
Report Attribute | Details |
---|---|
Market size in 2023 | US$ XX Billion |
Market Size by 2031 | US$ XX Billion |
Global CAGR (2023 - 2031) | 29.3% |
Historical Data | 2021-2023 |
Forecast period | 2024-2031 |
Segments Covered |
By Type
|
Regions and Countries Covered | North America
|
Market leaders and key company profiles |
|
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Data Analytics Market News and Recent Developments
The data analytics market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the data analytics market are listed below:
- SAP SE announced transformative data innovations that will help customers harness the full power of their data to drive deeper insights, faster growth and more efficiency in the era of AI. New capabilities in the SAP Datasphere solution, including new generative AI features, transform enterprise planning through simplified data landscapes and more intuitive data interaction. SAP Datasphere innovations, as well as an expanded partnership with Collibra, help customers drive intelligent business transformations through data. (Source: SAP SE, Press Release, March 2024)
- Informatica, an enterprise cloud data management leader, unveiled a trio of native integrations with Microsoft at Informatica World currently underway in Las Vegas. These product developments will make it simpler for Azure and Microsoft Fabric customers to discover, manage and deploy AI-powered data management services within Informatica’s Intelligent Data Management Cloud™ (IDMC) platform to create trusted data for generative AI. The combination of Microsoft's data analytics capability of Microsoft Fabric and Informatica’s AI-powered IDMC platform will unlock tremendous new potential for our customers’ analytics and AI workloads. (Source: Informatica, Press Release, May 2024)
Data Analytics Market Report Coverage and Deliverables
The “Data Analytics Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Data analytics market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Data analytics market trends, as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Data analytics market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the data analytics market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
Some of the customization options available based on the request are an additional 3–5 company profiles and country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
The leading players operating in the data analytics market are Amazon Web Services Inc.; International Business Machines Corporation; Looker Data Sciences, Inc.; Mu Sigma; Oracle Corporation; SAP SE; Sisense Inc.; Tableau Software LLC.; ThoughtSpot Inc.; and Zoho Corporation Pvt. Ltd.
Increasing focus on edge computing is anticipated to play a significant role in the global data analytics market in the coming years.
The global data analytics market is expected to grow at a CAGR of 29.3% during the forecast period 2024 - 2031.
The rise of big data analytics, increasing cloud technology expenditures, and large amounts of data generated by various industries are the major factors driving the data analytics market.
The List of Companies
1. Amazon Web Services, Inc.
2. Dell Inc.
3. IBM Corporation
4. Informatica
5. Microsoft Corporation
6. MicroStrategy Incorporated
7.Oracle Corporation
8. SAP SE
9. SAS Institute Inc.
10. Tableau Software, LLC