Advanced Analytics Technologies: Global Markets
The global market for advanced analytics totaled $207.4 billion in 2015, and should total nearly $219.3 billion by 2020, a five-year compound annual growth rate (CAGR) of 1.1%, through 2020.
- An overview of the global markets for advanced analytics.
- Analyses of global market trends, with data from 2014, 2015, and CAGRs through 2020.
- An in-depth look at advanced analytic software tools, integrated hardware appliances, and advanced analytics services
- Breakdowns of the market by region, services, industry, and appliances
- Evaluations of inventory optimization, carrier sourcing analytics, and supply chain planning
- A look at the market's dynamics, specifically growth drivers, restraints, and opportunities
- Profiles of major players in the industry
The advanced analytics market comprises applications for the following industries: banking and financial services, telecommunications and IT, healthcare, government and defense, transportation and logistics, and consumer goods and retail. In 2014, the banking and financial services segment accounted for the highest market share and is expected to remain the leader through 2020.
The banking and financial services sector uses advanced analytics to mitigate fraud, optimize processes and manage risks. The telecom sector uses analytics to protect customers from fraud and minimize churn by offering precise marketing programs for specific customers. The healthcare industry uses analytics to improve clinical performance, and detect and manage fraud. Retail companies use advanced analytics to gain insight into consumers’ buying behavior and help with merchandize planning and size optimization.
Specifically excluded from the study, as they are considered beyond the scope of this report, are trends and theme topics around advanced analytics such as mobile app analytics, big data, data science, location analytics, high-performance computing (HPC), data lake, Internet of Things (IoT), digital analytics, artificial intelligence (AI), machine to machine (M2M), mobile business intelligence (BI), social media analytics and data visualization tools.
Arup Banerjee is a senior market researcher in the IT industry with a specific focus on market intelligence, primary research, syndicated and custom research, marketing strategy, secondary research and business strategic research. As a market research analyst, he provides market research services such as full-service project management, report generation and presentation and actionable insights development with actionable recommendations. He holds an MBA in marketing.