The healthcare segment is expected to witness the highest market growth, owing to the rise in e-commerce data.
PORTLAND, PORTLAND, OR, UNITED STATES, November 17, 2023 /EINPresswire.com/ — Embedded Analytics Market Report, published by Allied Market Research, forecasts that the global market was valued at $25,133 million in 2016, and is projected to reach $60,281million by 2023, growing at a CAGR of 13.6% from 2017 to 2023.
The embedded analytics market is in its growth phase, and is expected to witness average growth rate of 13.6% during the forecast period. Organizations are shifting their focus toward real-time analytics embedded within business applications to gather data that can assist them in the decision-making process. North America embedded analytics market was the highest shareholder, in terms of revenue; while Asia-Pacific is expected to witness the highest growth during the forecast period.
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Embedded Analytics represents a software tool facilitating enhanced accessibility to data analysis and business intelligence within an organization. Many businesses are adopting embedded analytics due to its seamless integration of business applications and BI tools in a unified suite. In contrast to conventional methods of business analysis, these analytics offer more effective problem-solving capabilities. Embedded Analytics tools excel in managing vast datasets across diverse domains, providing business-specific insights. Their applicability extends to various business applications such as customer research engagement (CRM), enterprise resource planning (ERP), and more.
The report presents a competitive overview of the embedded analytics industry on a global scale, offering a thorough analysis of the primary growth strategies implemented by major players. The study profiles key participants, including Birst, Inc., IBM Corporation, Information Builders, Logi Analytics, Microsoft Corporation, Microstrategy Inc., Opentext Corporation, Qlik Technologies, Inc., SAP SE, and TIBCO (The Information Bus Company) Software Inc. These companies have employed various competitive approaches, such as expanding into new geographical markets, engaging in mergers and acquisitions, introducing new products, and forming partnerships and collaborations, all aimed at enhancing the growth of the embedded analytics market.
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In contemporary business landscapes, numerous enterprises are actively pursuing a data-driven approach. This shift towards data-driven decision-making underscores the imperative for embedded analytics, facilitating employees in making well-informed choices and, consequently, empowering organizations to outpace their competitors. The escalating intricacies and diversity within datasets further amplify the demand for embedded analytics, aiding customers in swiftly acquiring valuable insights. Embedded analytics encompasses both software and services, facilitating the processing and analysis of data within applications to generate crucial insights that drive data-centric decision-making.
As we navigate the future, marked advancements in embedded systems are anticipated, encompassing enhancements in conceptualization, development, design, and the standardization of quality, along with notable progress in marketing strategies throughout the product lifecycle. Key trends in the development of embedded solutions and systems involve a growing reliance on open-source technologies, the strategic deployment of robust security measures, diverse connectivity options, and the integration of advanced algorithms. Prominent technological strides encompass defect management, cloud connectivity, security fortification, energy-efficient design, and the integration of machine learning. Consequently, the ongoing technological evolution in embedded analytics represents a significant opportunity propelling market growth.
The cloud-based deployment model segment held the majority market share in 2016 and is projected to maintain its leading position throughout the forecast period. Furthermore, it is anticipated to achieve the highest Compound Annual Growth Rate (CAGR) of 14.2% from 2016 to 2023. The report also assesses the on-premise deployment model segment.
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In terms of business application, the sales and marketing segment dominated the market in 2016 and is anticipated to retain its leading position throughout the forecast period. Additionally, this segment is projected to exhibit the highest CAGR of 13.1% from 2016 to 2023. The report also examines the finance segment during the forecast period.
Some of the Top Key Players in the Embedded Analytics market are:
• GoodData
• SAS Institute
• Zoho Analytics
• BIRSt (Infor)
• Yellowfin International
• Amazon QuickSight
• IBM Corporation
• Oracle
• Microstrategy Incorporated
• Qlik
• Tibco Software
• Opentext Corporation
• Tableau Software Inc.
• Sisense
• Logi Analytics
• Looker
• Domo Everywhere
• SAP SE
• Microsoft
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