Advanced Analytics Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

The Business Research Company's Advanced Analytics Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LANDON, GREATER LANDON, UNITED KINGDOM, September 16, 2024 /EINPresswire.com/ -- The advanced analytics market has experienced robust growth in recent years, expanding from $39.71 billion in 2023 to $48.31 billion in 2024 at a compound annual growth rate (CAGR) of 21.6%. The growth in the historic period can be attributed to demand for real-time insights, industry-specific applications, focus on predictive analytics, regulatory compliance requirements, demand for cost optimization.

What Is The Estimated Market Size Of The Global Advanced Analytics Market And Its Annual Growth Rate?
The advanced analytics market is projected to continue its strong growth, reaching $110.6 billion in 2028 at a compound annual growth rate (CAGR) of 23.0%. The growth in the forecast period can be attributed to exponential growth in unstructured data, focus on prescriptive analytics, emphasis on data governance, personalized analytics solutions, continuous training of analytics models.

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Growth Driver Of The Advanced Analytics Market
Growing usage of analytical solutions is likely to propel the growth of the advanced analytics market. The analytical solutions are increasingly being used in various industries such as retail, agriculture, banking, and so on for demand forecasting, trade promotion optimization, and behavior analytics. Analytical solutions provide solutions to a problem that has already occurred. However, advanced analytics predicts future instances based on the trends of the past. Both of these are interrelated and when combined provide solutions and forecasts.

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Which Market Players Are Steering The Advanced Analytics Market Growth?
Key players in the advanced analytics market include SAS Institute Inc., SAP SE, IBM Corporation, Oracle Corporation, Dell Technologies Inc., Microsoft Corporation Inc., RapidMiner Inc., Altair Engineering Inc., Fair Isaac Corporation, KNIME AG., Statsoft Technologies Pvt Ltd, Teletrac Navman Ltd., Procon Analytics LLC., IMS Software Inc., CloudMade Ltd.,TIBCO Software,MicroStrategy,RapidMiner,DataRobot,KNIME,Sisense,ThoughtSpot,Information Builders,Talend,GoodData,Splunk,Teradata,Pentaho, Yellowfin,Pyramid Analytics.

What Are The Key Trends That Influence Advanced Analytics Market Share And Analysis?
Major companies operating in the advanced analytics market focus on technological advancements to enhance data-driven decision-making and gain a competitive edge. Innovative solutions in advanced analytics refer to novel and creative approaches that leverage cutting-edge technologies and methodologies to extract actionable insights and drive data-driven decision-making.

How Is The Global Advanced Analytics Market Segmented?
1) By Type: Big Data Analytics, Predictive Analytics
2) By Component: Solution, Services
3) By Deployment Mode: Cloud, On-Premises
4) By Organization Size: Large Enterprises, Small And Medium-Sized Enterprises (SMEs)
5) By Vertical: Banking Finance Services And Insurance (BFSI), IT And Telecom, Retail And Consumer Goods, Healthcare And Life Sciences, Transportation And Logistics, Government And Defense, Manufacturing, Media And Entertainment, Other Verticals.

Geographical Insights: North America Leading The Advanced Analytics Market
North America was the largest region in the advanced analytics market in 2023.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the advanced analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Advanced Analytics Market Definition
The advanced analytics refer to a data analysis methodology that uses predictive modeling, machine learning algorithms, deep learning, business process automation, and other statistical approaches to analyze corporate data from a variety of data sources. Advanced analytics makes use of data science, which includes mature methods of analysis, to forecast future trends and predict the possibility of prospective events.

Advanced Analytics Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
•Macroeconomic factors affecting the market in the short and long run
•Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An overview of the global advanced analytics market report covering trends, opportunities, strategies, and more
The Advanced Analytics Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on advanced analytics market size, advanced analytics market drivers and trends, advanced analytics market major players, advanced analytics competitors' revenues, advanced analytics market positioning, and advanced analytics market growth across geographies. The advanced analytics market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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The Business Research Company
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