According to this latest study, the growth in the Embedded Analytics market will change significantly from the previous year. Over the next six years, Embedded Analytics will register a CAGR in terms of revenue, and the global market size will reach USD in millions by 2028.
Embedded Analytics is the technology used to make business intelligence and data analytics more accessible by all forms of applications. Embedded analytics has a wide range of application such as graphs and charts that displays tabular views of data, performance, and predictive analysis. Business users of any levels need self- service analytics tools that help them to connect complex data generate actionable insights and run queries instantly on mobile devices and standard hardware. Here, embedded analytics play a crucial role in streamlining data analysis using commodity hardware. Embedded analytics allows companies to easily access the required business intelligence tools while performing daily tasks that helps in decision making process and thereby increasing the adoption of embedded analytics which enhances the market growth. Furthermore, vendors also find great advantage through embeddable self- service analytics tool without postponing a launch or dragging down development. Rising adoption of Big data and IoT are propelling the growth of the embedded analytics market.
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Major Key Players for Embedded analytics Market:
- Microsoft Corporation
- Opentext Corporation
- Oracle Corporation
- SAP SE
- SAS Institute
- Tableau Software Inc.
- BIRST Inc.
- Information Builders
- Logi Analytics
- Microstrategy Incorporated
- Sisense Inc.
- Tibco Software Inc.
- Qliktech International Ab
- Yellowfin International Pty Ltd
Market Dynamics and Factors:
In the recent years, data analysis has grown rapidly as the companies can better allocate resources, identify trends and understand customer behavior precisely. But, as the data analytics escalates, it becomes more and more complex, thus, driving the embedded analytics market. Embedded analytics helps in transforming more complex data into easy-to-interpret results. When compared to the traditional way of analysis in a business, embedded analytics results in providing a higher level of solution, thereby, cushioning the market growth and development. Embedded analytics possess an integrated analytical tool that helps the businesses to achieve higher customer engagement and leads to employee efficiency as well. However, the high initial cost hinders the growth of the market and the capability of visualizing real-time data that allows the finance, sales, marketing, and other departments to make quick and profitable decisions is the major factor that fuels the growth of embedded analytics market in the projected years.
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Embedded analytics Market Report Highlight:
- By Type, the professional services segment is expected to attain a rapid growth in the projected years. This rapid growth is owing to the increasing software solutions along the industry verticals.
- By Application, the sales and marketing segment is accounted for the largest market share in the upcoming years. Various features like the territory management, automating reports and customer acquisition costs are driving the market growth.
- By Deployment model, Cloud based segment is anticipated to dominate the market in the forecasted years. Cloud based models provide security, prevents loss, increase collaboration and boosts quality control, thereby, resulting in the market growth.
- By Industry Vertical, IT & Telecommunication segment is expected to dominate in upcoming years. This segment has the most usage of analytics to achieve optimum performance, thus, propels the market growth.
- By Region, North America will dominate the market in the projected years. This is due to the presence of technological advancements, big-data driven enterprises and increasing awareness regarding embedded analytics in this region.
Key Industry Development:
- In April, 2020, Infragistics announced a significant upgrade to its embedded data analytics software, Reveal. In addition to its smooth, fast integration into any platform or deployment option, the latest features address the trends across data analytics, including predictive and advanced analytics, R and Python scripting, machine learning, big data connectors, and much more.
- In June, 2019, Oracle launched an Analytical Solution that offers customers AI-powered, self service analytics abilities for various purposes such as reporting, conception, data preparation, natural language processing and enhanced analysis.
Embedded Analytics Market Segmentation:
- Services (professional and managed)
- Sales and Marketing
- Human Resources
By Deployment model
- On premises
By Industry Vertical
- IT & Telecommunication
- Public Sector
- Energy & Utilities
For this report, Introspective Market Research has segmented the Embedded Analytics Market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2022-2028)
- North America
- The U.S.
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- Latin America
- Rest of LATAM
Customization of the Report
Scope of the Report:
The report encompasses the entire analysis of market size in previous years for major segments and countries, as well as future estimates. The Embedded Analytics Market study looks deeply into the worldwide market’s competitive landscape. The study also provides the names of key market players and the methods they used to gain a dominant position in the industry. It also includes useful market insights, dynamics and factors, and market analysis techniques such as PESTEL analysis, PORTER’s Five Forces analysis, value chain analysis, SWOT analysis, BCG matrix, and Ansoff matrix.
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