Advanced Analytics Market

Global Advanced Analytics Market Size, Trends & Analysis - Forecasts to 2027 By Components (Solutions, Services), By Business Function (Marketing and Sales, Finance, Human Resource (HR), Operations, Supply Chain), By Type (Big Data Analytics, Predictive Analytics, Customer Analytics, Statistical Analytics, Risk Analytics, Prescriptive Analytics, Other Types), By Vertical (Banking Finance Services and Insurance (BFSI), IT and Telecom, Retail and Consumer Goods, Healthcare and Life Sciences, Transportation and Logistics, Government and Défense, Manufacturing, Media and Entertainment, Other Verticals), By Region (North America, Asia Pacific, CSA, Europe, and the Middle East and Africa), Company Market Share Analysis, and Competitor Analysis

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This report was recently updated on May 9 2022 with the latest and most recent market numbers

Global Advanced Analytics Market Size

The Global Advanced Analytics Market is projected to grow from USD 33.5 billion in 2021 to USD 91.9 billion by 2027 at a CAGR value of 21.5% from 2022 to 2027.

Organizations began going to the cloud more quickly in 2021, as part of an effort to acquire and handle new data kinds and boost analytics initiatives (spurred on by the COVID-19 pandemic). Vendors promoted integrated platforms, particularly in the cloud, as multi-cloud platforms grew increasingly prevalent. For instance, the volume of data produced on a global scale is rapidly expanding. As per Seagate Technology PLC, the amount of data produced worldwide is predicted to rise from 12 zettabytes in 2020 to 47 zettabytes and 163 zettabytes in 2021 and 2025, respectively.

The introduction of machine learning and artificial intelligence (AI) to provide tailored user experiences, as well as the increased requirement to prevent fraudulent practices during the pandemic, are two important reasons driving the advanced analytics market. The rise in demand for real-time analytical solutions to track and manage COVID-19 dissemination, as well as the proliferation of digital and linked and integrated technology, are the primary factors driving the market growth.

The growing use and necessity for social media, as well as the use of IoT and automated technologies in industries, are also driving the market growth during the forecast period. As a result, competitors in different industries and industry verticals, such as IT and telecom, BFSI, and energy and utilities, are using cutting-edge analytics to preserve their competitive advantage in the market. The increasing use of analytical solutions for market research, trade development management, and predictive analysis, particularly in industries such as retail, is emerging as an important factor driving market expansion.

The COVID-19 global epidemic has prompted many businesses to adopt advanced analytics and artificial intelligence (AI) ideas and implement revolutionary strategies to better engage customers through online channels, handle fragile as well as complicated supply chains, and support staff as their work and lives are disrupted. Many businesses have begun to assist their customers through the use of data analytics. Marketing, finance, and customer support use applications for small firms have seen the most phenomenal growth in the areas most directly impacted by the pandemic.

Nevertheless, in underdeveloped and developing nations, a shortage of trained workers and digital experience, as well as a lack of standardization, may limit market expansion. In developing economies, a lack of a solid IT network, as well as technological problems while running, will stymie market expansion.

global advanced analytics market

Advanced Analytics Market: By Component

Based on the component, the market is segmented into services and solutions. The solution segment is expected to grow the fastest in the advanced analytics market from 2022 to 2027. The rising demand for a structure that can incorporate endpoints security and integrity into a centralized platform, expanding innovation in the market-leading to development opportunities in the segment, and growing interest for cloud-based alternatives are the reasons driving this growth.

Advanced Analytics Market: By Business Function

Marketing and sales, finance, human resource (HR), operations, and supply chain are the segmentation based on business function. The marketing and sales segment is expected to grow the fastest in the advanced analytics market from 2022 to 2027. Big data and analytics may assist a company in predicting consumer behaviour, improving decision-making throughout the board, and calculating the return on investment of its promotional campaigns. The company will not only be capable of protecting its market share but even develop into other territories if those same issues were appropriately addressed.

Advanced Analytics Market: By Type

Based on the type, the market is segmented into big data analytics, predictive analytics, customer analytics, statistical analytics, risk analytics, and prescriptive analytics. Big data analytics is expected to grow the fastest in the advanced analytics market from 2022 to 2027. The growing popularity of social media and the increase in the number of virtual or digital offices that generate significant amounts of data are contributing to segment growth. The segment's rise is predicted to be fuelled by companies' increasing use of big data analytics to improve operational efficiency and reinforce competitive strategy.

Advanced Analytics Market: By Verticals

Banking-finance services and insurance (BFSI), IT and telecom, retail and consumer goods, healthcare and life sciences, transportation and logistics, government and defense, manufacturing, and media and entertainment are the segmentation based on the vertical. The banking financial services and insurance (BFSI) segment is expected to hold a larger share as compared to other segments. This is because competitors in the BFSI business have managed to use advanced analytics to detect fraudulent activity, improve operations, and manage data threats. The adoption of advanced analytics to replace traditional anti-fraud technological tools is expected to drive the BFSI segment's growth throughout the forecast period.

asia pacific advanced analytics market

Advanced Analytics Market: By Region

As per the geographical analysis, the advanced analytics market can be classified into North America (the United States, Canada, and Mexico), Asia Pacific (India, China, Japan, Malaysia, Singapore, and the Rest of Asia Pacific), Europe (Germany, United Kingdom, Italy, France, Spain, Netherlands, and Rest of Europe), Middle East & Africa (Saudi Arabia, United Arab Emirates, and Rest of the Middle East & Africa) and Central & South America (Brazil, Argentina, and Rest of Central and South America).

North America (the United States, Canada, and Mexico) will have a dominant share in the advanced analytics market from 2022 to 2027. The adoption of solutions based on cutting-edge technology, such as machine learning and big data analytics, is expected to propel the market forward. The regional market's expansion can also be linked to the growing number of social media users and automotive manufacturers' use of sophisticated analytical instruments.

Moreover, the Asia Pacific region is expected to be the fastest-growing segment in the advanced analytics market during the forecast period. Growing government investment in technologically advanced solutions, as well as the rapid use of artificial intelligence and big data analytics, is expected to be a major factor driving demand in the region. In addition, the region's expanding ecommerce and retail industries are propelling market expansion. Furthermore, rising expenditures for IT infrastructure investment and an increase in the number of small companies are fuelling growth.

Advanced Analytics Market Share and Competitor Analysis

IBM, Oracle, SAS Institute, SAP, FICO, KNIME, Microsoft, Altair, RapidMiner, AWS, Salesforce, Tibco Software, Alteryx, Teradata, Adobe, among others are the key players in the advanced analytics market.

Please note: This is not an exhaustive list of companies profiled in the report.

Chapter 1   Methodology

1.1    Market Scope & Definitions

1.2    Estimates & Forecast Calculation

1.3    Historical Data Overview and Validation

1.4    Data Sources

1.4.1    Secondary

1.4.2    Primary

Chapter 2   Report Outlook

2.1   Global Advanced Analytics Industry Overview, 2022-2027

2.1.1    Industry Overview

2.1.2    Component Overview

2.1.3    Business Functions Overview

2.1.4    Type Overview

2.1.5    Vertical Overview

2.1.6    Regional Overview

Chapter 3   Advanced Analytics Market Trends

3.1    Market Segmentation

3.2    Industry Background, 2022-2027

3.3    Market Key Trends

3.3.1    Positive Trends

3.3.1.1    Rising adoption of big data and other related technologies

3.3.1.2    Rising need to predict customer intent and behavior

3.3.2    Industry Challenges

3.3.2.1    Complex data ecosystem leading to data breaches and security issues

3.4    Prospective Growth Scenario

3.4.1    Components Growth Scenario

3.4.2    Business Functions Growth Scenario

3.4.3    Type Growth Scenario

3.4.4    Vertical Growth Scenario

3.4.5    Regional Scenario

3.5    COVID-19 Influence over Industry Growth

3.6    Porter’s Analysis

3.7    PESTEL Analysis

3.8    Value Chain & Supply Chain Analysis

3.9    Regulatory Framework

3.9.1    North America

3.9.2    Europe

3.9.3    APAC

3.9.4    LATAM

3.9.5    MEA

3.10    Vertical Overview

3.11    Market Share Analysis, 2021

3.11.1    Company Positioning Overview, 2022

Chapter 4    Advanced Analytics Market, By Component

4.1    Components Outlook

4.2    Solutions

4.2.1    Market Size, By Region, 2022-2027 (USD Billion)

4.3     Services

4.3.1    Market Size, By Region, 2022-2027 (USD Billion)

Chapter 5    Advanced Analytics Market, By Business Function

5.1   Business Functions Outlook

5.2   Marketing and Sales

5.2.1    Market Size, By Region, 2022-2027 (USD Billion)

5.3    Finance

5.3.1    Market Size, By Region, 2022-2027 (USD Billion)

5.4    Human Resource (HR)

          5.4.1     Market Size, By Region, 2022-2027 (USD Billion)

5.5     Operations

          5.5.1    Market Size, By Region, 2022-2027 (USD Billion)

5.6     Supply Chain

          5.6.1    Market Size, By Region, 2022-2027 (USD Billion)

Chapter 6    Advanced Analytics Market, By Type

6.1    Big Data Analytics

6.1.1    Market Size, By Region, 2022-2027 (USD Billion)

6.2    Predictive Analytics

6.2.1    Market Size, By Region, 2022-2027 (USD Billion)

6.3    Customer Analytics

6.3.1    Market Size, By Region, 2022-2027 (USD Billion)

6.4     Statistical Analytics

           6.4.1   Market Size, By Region, 2022-2027 (USD Billion)

6.5       Risk Analytics

            6.5.1   Market Size, By Region, 2022-2027 (USD Billion)

6.6      Prescriptive Analytics

            6.6.1   Market Size, By Region, 2022-2027 (USD Billion)

6.7      Other Types

            6.7.1   Market Size, By Region, 2022-2027 (USD Billion)

Chapter 7    Advanced Analytics Market, By Vertical

7.1    Banking Finance Services and Insurance (BFSI)

7.1.1    Market Size, By Region, 2022-2027 (USD Billion)

7.2    IT and Telecom

7.2.1    Market Size, By Region, 2022-2027 (USD Billion)

7.3     Retail and Consumer Goods

          7.3.1    Market Size, By Region, 2022-2027 (USD Billion)

7.4     Healthcare and Life Sciences

           7.4.1    Market Size, By Region, 2022-2027 (USD Billion)

7.5     Transportation and Logistics

           7.5.1    Market Size, By Region, 2022-2027 (USD Billion)

7.6      Government and Defence

           7.6.1    Market Size, By Region, 2022-2027 (USD Billion)

7.7      Manufacturing

           7.7.1    Market Size, By Region, 2022-2027 (USD Billion)

7.8     Media and Entertainment

          7.8.1     Market Size, By Region, 2022-2027 (USD Billion)

7.9       Other Verticals

          7.9.1      Market Size, By Region, 2022-2027 (USD Billion)

Chapter 8    Advanced Analytics Market, By Region

8.1    Regional outlook

8.2    North America

8.2.1    Market Size, By Country 2022-2027 (USD Billion)

8.2.2    Market Size, By Component, 2022-2027 (USD Billion)

8.2.3    Market Size, By Business Function, 2022-2027 (USD Billion)

8.2.4    Market Size, By Type, 2022-2027 (USD Billion)

8.2.5    Market Size, By Vertical, 2022-2027 (USD Billion)

8.2.6    Market Size, By Region, 2022-2027 (USD Billion)

8.2.7    U.S.

8.2.7.1    Market Size, By Component, 2022-2027 (USD Billion)

8.2.7.2    Market Size, By Business Function, 2022-2027 (USD Billion)

8.2.7.3    Market Size, By Type, 2022-2027 (USD Billion)

8.2.7.4    Market Size, By Vertical, 2022-2027 (USD Billion)

          8.2.7.5    Market Size, By Region, 2022-2027 (USD Billion)

8.2.8    Canada

8.2.8.1    Market Size, By Component, 2022-2027 (USD Billion)

8.2.8.2    Market Size, By Business Function, 2022-2027 (USD Billion)

8.2.8.3    Market Size, By Type, 2022-2027 (USD Billion)

8.2.8.4    Market Size, By Vertical, 2022-2027 (USD Billion)

          8.2.8.5    Market Size, By Region, 2022-2027 (USD Billion)

8.2.9    Mexico

8.2.9.1    Market Size, By Component, 2022-2027 (USD Billion)

8.2.9.2    Market Size, By Business Function, 2022-2027 (USD Billion)

8.2.9.3    Market Size, By Type, 2022-2027 (USD Billion)

8.2.9.4    Market Size, By Vertical, 2022-2027 (USD Billion)

          8.2.9.5    Market Size, By Region, 2022-2027 (USD Billion)

8.3    Europe

8.3.1    Market Size, By Country 2022-2027 (USD Billion)

8.3.2    Market Size, By Component, 2022-2027 (USD Billion)

8.3.3    Market Size, By Business Function, 2022-2027 (USD Billion)

8.3.4    Market Size, By Type, 2022-2027 (USD Billion)

8.3.5    Market Size, By Vertical, 2022-2027 (USD Billion)

8.3.6    Market Size, By Region, 2022-2027 (USD Billion)

8.3.7    Germany

8.3.7.1    Market Size, By Component, 2022-2027 (USD Billion)

8.3.7.2    Market Size, By Business Function, 2022-2027 (USD Billion)

8.3.7.3    Market Size, By Type, 2022-2027 (USD Billion)

8.3.7.4    Market Size, By Vertical, 2022-2027 (USD Billion)

          8.3.7.5    Market Size, By Region, 2022-2027 (USD Billion)

8.3.8    UK

8.3.8.1    Market Size, By Component, 2022-2027 (USD Billion)

8.3.8.2    Market Size, By Business Function, 2022-2027 (USD Billion)

8.3.8.3    Market Size, By Type, 2022-2027 (USD Billion)

8.3.8.4    Market Size, By Vertical, 2022-2027 (USD Billion)

          8.3.8.5    Market Size, By Region, 2022-2027 (USD Billion)

8.3.9    France

8.3.9.1    Market Size, By Component, 2022-2027 (USD Billion)

8.3.9.2    Market Size, By Business Function, 2022-2027 (USD Billion)

8.3.9.3    Market Size, By Type, 2022-2027 (USD Billion)

8.3.9.4    Market Size, By Vertical, 2022-2027 (USD Billion)

          8.3.9.5    Market Size, By Region, 2022-2027 (USD Billion)      

8.3.10    Italy

8.3.10.1    Market Size, By Component, 2022-2027 (USD Billion)

8.3.10.2    Market Size, By Business Function, 2022-2027 (USD Billion)

8.3.10.3    Market Size, By Type, 2022-2027 (USD Billion)

8.3.10.4    Market Size, By Vertical, 2022-2027 (USD Billion)

          8.3.10.5    Market Size, By Region, 2022-2027 (USD Billion)

8.4    Asia Pacific

8.4.1    Market Size, By Country 2022-2027 (USD Billion)

8.4.2    Market Size, By Component, 2022-2027 (USD Billion)

8.4.3    Market Size, By Business Function, 2022-2027 (USD Billion)

8.4.4    Market Size, By Type, 2022-2027 (USD Billion)

8.4.5   Market Size, By Vertical, 2022-2027 (USD Billion)

8.4.6    Market Size, By Region, 2022-2027 (USD Billion)

8.4.7    China

8.4.7.1    Market Size, By Component, 2022-2027 (USD Billion)

8.4.7.2    Market Size, By Business Function, 2022-2027 (USD Billion)

8.4.7.3    Market Size, By Type, 2022-2027 (USD Billion)

8.4.7.4    Market Size, By Vertical, 2022-2027 (USD Billion)

          8.4.7.5    Market Size, By Region, 2022-2027 (USD Billion)

8.4.8    India

8.4.8.1    Market Size, By Component, 2022-2027 (USD Billion)

8.4.8.2    Market Size, By Business Function, 2022-2027 (USD Billion)

8.4.8.3    Market Size, By Type, 2022-2027 (USD Billion)

8.4.8.4    Market Size, By Vertical, 2022-2027 (USD Billion)

          8.4.8.5    Market Size, By Region, 2022-2027 (USD Billion)

8.4.9    Japan

8.4.9.1    Market Size, By Component, 2022-2027 (USD Billion)

8.4.9.2    Market Size, By Business Function, 2022-2027 (USD Billion)

8.4.9.3    Market Size, By Type, 2022-2027 (USD Billion)

8.4.9.4    Market Size, By Vertical, 2022-2027 (USD Billion)

          8.4.9.5    Market Size, By Region, 2022-2027 (USD Billion)

8.5    MEA

8.5.1    Market Size, By Country 2022-2027 (USD Billion)

8.5.2    Market Size, By Component, 2022-2027 (USD Billion)

8.5.3    Market Size, By Business Function, 2022-2027 (USD Billion)

8.5.4    Market Size, By Type, 2022-2027 (USD Billion)

8.5.5    Market Size, By Vertical, 2022-2027 (USD Billion)

8.5.6    Market Size, By Region, 2022-2027 (USD Billion)

8.5.7    Saudi Arabia

8.5.7.1    Market Size, By Component, 2022-2027 (USD Billion)

8.5.7.2    Market Size, By Business Function, 2022-2027 (USD Billion)

8.5.7.3   Market Size, By Type, 2022-2027 (USD Billion)

8.5.7.4   Market Size, By Vertical, 2022-2027 (USD Billion)

          8.5.7.5    Market Size, By Region, 2022-2027 (USD Billion)

            8.5.8    UAE

8.5.8.1    Market Size, By Component, 2022-2027 (USD Billion)

8.5.8.2    Market Size, By Business Function, 2022-2027 (USD Billion)

8.5.8.3    Market Size, By Type, 2022-2027 (USD Billion)

8.5.8.4    Market Size, By Vertical, 2022-2027 (USD Billion)

          8.5.8.5    Market Size, By Region, 2022-2027 (USD Billion)

   8.5.9    South Africa

8.5.9.1    Market Size, By Component, 2022-2027 (USD Billion)

8.5.9.2    Market Size, By Business Function, 2022-2027 (USD Billion)

8.5.9.3    Market Size, By Type, 2022-2027 (USD Billion)

8.5.9.4    Market Size, By Vertical, 2022-2027 (USD Billion)

          8.5.9.5    Market Size, By Region, 2022-2027 (USD Billion)

Chapter 9   Company Landscape

9.1    Competitive Analysis, 2022

9.2    IBM

9.2.1    Company Overview

9.2.2    Financial Analysis

9.2.3    Strategic Positioning

9.2.4    Info Graphic Analysis

9.3    Oracle

9.3.1    Company Overview

9.3.2    Financial Analysis

9.3.3    Strategic Positioning

9.3.4    Info Graphic Analysis

10.4    SAS Institute

10.4.1    Company Overview

10.4.2    Financial Analysis

10.4.3    Strategic Positioning

10.4.4    Info Graphic Analysis

9.5    SAP

9.5.1    Company Overview

9.5.2    Financial Analysis

9.5.3    Strategic Positioning

9.5.4    Info Graphic Analysis

9.6    FICO

9.6.1    Company Overview

9.6.2    Financial Analysis

9.6.3    Strategic Positioning

9.6.4    Info Graphic Analysis

9.7    KNIME

9.7.1    Company Overview

9.7.2    Financial Analysis

9.7.3    Strategic Positioning

9.7.4    Info Graphic Analysis

9.8    Microsoft

9.8.1    Company Overview

9.8.2    Financial Analysis

9.8.3    Strategic Positioning

9.8.4    Info Graphic Analysis

9.9   Altair

9.9.1    Company Overview

9.9.2    Financial Analysis

9.9.3    Strategic Positioning

9.9.4    Info Graphic Analysis

9.10    RapidMiner

9.10.1    Company Overview

9.10.2    Financial Analysis

9.10.3    Strategic Positioning

          9.10.4    Info Graphic Analysis

9.11   AWS

9.11.1    Company Overview

9.11.2    Financial Analysis

9.11.3    Strategic Positioning

          9.11.4    Info Graphic Analysis

9.12   Salesforce

9.12.1    Company Overview

9.12.2    Financial Analysis

9.12.3    Strategic Positioning

          9.12.4    Info Graphic Analysis

9.13   TIBCO Software

9.13.1    Company Overview

9.13.2    Financial Analysis

9.13.3    Strategic Positioning

          9.13.4    Info Graphic Analysis

9.14   Alteryx

9.14.1    Company Overview

9.14.2    Financial Analysis

9.14.3    Strategic Positioning

          9.14.4    Info Graphic Analysis

9.15   Teradata

9.15.1    Company Overview

9.15.2    Financial Analysis

9.15.3    Strategic Positioning

          9.15.4    Info Graphic Analysis

9.16   Adobe

9.16.1    Company Overview

9.16.2    Financial Analysis

9.16.3    Strategic Positioning

          9.16.4    Info Graphic Analysis

9.17   Other Companies

9.17.1    Company Overview

9.17.2    Financial Analysis

9.17.3    Strategic Positioning

          9.17.4    Info Graphic Analysis

The Global Advanced Analytics Market has been studied from the year 2019 till 2027. However, the CAGR provided in the report is from the year 2022 to 2027. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.

The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply-side analysis for the Advanced Analytics Market.

The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.

Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.

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Frequently Asked Questions

The global advanced analytics market is projected to grow from USD 33.5 billion in 2021 to USD 91.9 billion by 2027 at a CAGR value of 21.5% from 2022 to 2027.
IBM, Oracle, SAS Institute, SAP, FICO, KNIME, Microsoft, Altair, RapidMiner, AWS, Salesforce, Tibco Software, Alteryx, Teradata, Adobe, among others are the key players in the advanced analytics market.
The North American region is estimated to hold the highest share in the advanced analytics market.
The COVID-19 global epidemic has prompted many businesses to adopt advanced analytics and artificial intelligence (AI) ideas and implement revolutionary strategies to better engage customers through online channels, handle fragile as well as complicated supply chains, and support staff as their work and lives are disrupted.
The introduction of machine learning and artificial intelligence (AI) to provide tailored user experiences, as well as the increased requirement to prevent fraudulent practices during the pandemic, are two important reasons driving the advanced analytics market.

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