Navigating Growth Horizons: Advanced Analytics Market Set to Surpass US$ 15 Billion by 2024 (Computers - Information Technologies)
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Navigating Growth Horizons: Advanced Analytics Market Set to Surpass US$ 15 Billion by 2024 | |
The global advanced analytics market is anticipated to reach a valuation of US$ 15,149.8 million in 2024, driven by rise in self-service analytics. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 5.8% between 2024 and 2034, and reaching a total valuation of approximately US$ 26,688.0 million by 2034. One of the major factors contributing to the growth of the advanced analytics market is the investment in analytics talent and training. Recognizing the importance of skilled personnel, organizations are investing in training programs and hiring professionals with expertise in data science, machine learning, and advanced analytics. Building a data savvy workforce is crucial for maximizing the value of analytics investments. Collaborative analytics tools enable teams to work together on data analysis projects in real time. The trend fosters collaboration among business analysts, data scientists, and other stakeholders, facilitating better decision making processes. Get Sample Copy of this Report at: https://www.futuremarketinsights.com/reports/sample/rep-gb-5087 The potential integration of quantum computing with analytics, while still in the early stages, holds promise for solving complex problems and performing computations at a scale that traditional computers may struggle with. The optimization of supply chain processes through analytics is gaining prominence. Organizations are leveraging advanced analytics to enhance visibility, predict demand, optimize inventory, and improve overall supply chain efficiency. Advanced analytics enables businesses to create personalized customer experiences by analyzing data on individual preferences, behaviors, and demographics. Customer segmentation strategies are becoming more sophisticated, allowing for targeted marketing and product recommendations. The combination of analytics with augmented and virtual reality technologies is opening new possibilities for data visualization and immersive analytics experiences. The trend is particularly relevant in industries such as manufacturing, where AR and VR can be used for virtual simulations and training. Key Takeaways from the Market Study Global advanced analytics market was valued at US$ 14,355.5 million by 2023-end. From 2019 to 2023, the market demand expanded at a CAGR of 5%. The market in India is expected to expand at a CAGR of 6% through 2034. By industry, the BFSI segment to account for a share of 22.6% in 2024. From 2024 to 2034, advanced analytics market is expected to flourish at a CAGR of 8%. By 2034, the market value of advanced analytics is expected to reach US$ 26,688.0 The integration of blockchain technology with analytics enhances data integrity, security, and transparency. Analytics tools can be used to gain insights from blockchain data, providing valuable information for industries like finance, supply chain, and healthcare, remarks an FMI analyst. Competitive Landscape Prominent players in the advanced analytics market are Altair Engineering, Inc., Fair Isaac Corporation, International Business Machines Corporation, KNIME, Microsoft Corporation, Oracle Corporation, RapidMiner, Inc., SAP SE, SAS Institute Inc., Trianz, Infor, and Teradata, among others. Request for Methodology: https://www.futuremarketinsights.com/request-report-methodology/rep-gb-5087 | |
| Target State: All States Target City : All Cities Last Update : Mar 08, 2024 12:59 PM Number of Views: 73 | Item Owner : Sudip Saha is the managing director and co-founder at Future Market Insights Contact Email: (None) Contact Phone: (None) |
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2024-05-08 (0.389 sec)