Advanced Analytics Market report delivers future development strategies, key companies, Possibility of competition, major challenges analysis. The reports elaborate the expansion rate of the Advanced Analytics market supported the highest company profile analysis. This report providing an in-depth analysis, market size, and evaluation for the developing segment among the industry. Advanced Analytics Market report will help you take expert decisions, recognize opportunities, plan effective professional tactics, plan new schemes, analyse drivers and restraints and give you a vision on the Advanced Analytics Market forecast.
The Advanced Analytics Market report discusses the primary industry growth drivers and challenges that the vendors and the market as a whole face and provides an overview of the key trends emerging in the market. It also talks about the market size of different segments and their growth aspects along with key leading countries in Americas, Asia-Pacific, Europe, the Middle East, and Africa regions.
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The advanced analytics market size is projected to touch USD 59.1 billion by 2027. The market is anticipated to register a CAGR of 25.3% over the forecast period. The growing use of advanced analytics in various industries such as BFSI, government, manufacturing and others is proliferating the demand for the market. In addition, the agriculture sector is witnessing the increased use of advanced analytics as it helps farmers to make the decision about plant harvesting and optimizing crop yield. Further, growing information technologies in emerging countries such as Brazil, India, Egypt and Argentina is also bolstering the demand for advanced analytics.
The emergence of industry 4.0 has led to automation across industries such as pharmaceuticals, automotive and manufacturing. These industries are increasingly adopting big data analytics to increase the efficiency of their businesses, thereby augmenting the market growth. Additionally, the market growth is attributed to the rising demand for predictive solutions across industry verticals. Technologies such as Augmented Reality (AR), Mixed Reality (MR) and Virtual Reality (VR) has resulted in the generation of the high volume of data. The correct analysis of these data using advanced analytics help organizations in making data-driven decisions.
North America held the largest share in the market in 2019, primarily because of the high adoption of technologies and better infrastructure to support the technology adoption. While Asia Pacific is projected to grow at the highest CAGR over the forecast period owing to increasing demand for advanced analytics from BFSI sectors. Increasing fraudulent activities has led to the adoption of advanced analytics in the BFSI sector.
Some of the companies for Advanced Analytics market are:
Altair Engineering, Oracle Corporation, Microsoft Corporation, RapidMiner, Inc., SAP SE and IBM
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