Advanced Analytics Market by Offerings, Analytics Type, Business Function, Deployment, Organization Size, End-User

List of Tables

The Advanced Analytics Market was valued at USD 40.31 billion in 2023, expected to reach USD 45.71 billion in 2024, and is projected to grow at a CAGR of 13.74%, to USD 99.30 billion by 2030.

Advanced Analytics, encompassing techniques beyond traditional business intelligence, facilitates in-depth data interpretation through predictive, descriptive, and prescriptive analytics. Its scope encompasses industries like finance, healthcare, retail, and manufacturing, offering essential insights to support strategic decision-making. The necessity of Advanced Analytics arises from the need for precise, data-driven insights that can enhance operational efficiency, optimize marketing strategies, and revolutionize customer experience. Its application ranges from predicting market trends and customer behavior to risk assessment and optimization of resources, providing a competitive advantage to businesses that embrace it. End-use sectors, such as finance and healthcare, leverage Advanced Analytics for fraud detection and personalized medicine, respectively, illuminating its vast and diverse scope.

KEY MARKET STATISTICS
Base Year [2023]	USD 40.31 billion
Estimated Year [2024]	USD 45.71 billion
Forecast Year [2030]	USD 99.30 billion
CAGR (%)	13.74%

Key influencing factors driving the growth of Advanced Analytics include the exponential increase in data availability, technological advancements in AI and machine learning, and the heightened emphasis on data-driven decision-making. Latest opportunities lie in sectors such as IoT, where mass data generated requires sophisticated analytics for actionable insights, and personalized marketing, which offers significant potential by leveraging consumer data. To capitalize, businesses should invest in scalable data infrastructures and acquire skilled analytical talent to transform data into strategic insights. However, challenges like data privacy concerns, high initial investment costs, and the shortage of skilled professionals impede market growth. Regulatory complexities also pose barriers, requiring careful navigation.

Despite these challenges, best areas for innovation include developing user-friendly analytics platforms, advancements in real-time data processing, and integrating analytics with emerging technologies like blockchain and augmented reality for heightened decision-making capabilities. The nature of the Advanced Analytics market is dynamic and rapidly evolving, thus remaining adaptable and keeping pace with technological advancements is essential for sustained growth. Businesses are recommended to foster a culture of continuous learning and integration of analytics with core processes to stay competitive in this ever-expanding market.

Market Dynamics: Unveiling Key Market Insights in the Rapidly Evolving Advanced Analytics Market

The Advanced Analytics Market is undergoing transformative changes driven by a dynamic interplay of supply and demand factors. Understanding these evolving market dynamics prepares business organizations to make informed investment decisions, refine strategic decisions, and seize new opportunities. By gaining a comprehensive view of these trends, business organizations can mitigate various risks across political, geographic, technical, social, and economic domains while also gaining a clearer understanding of consumer behavior and its impact on manufacturing costs and purchasing trends.

Market Drivers
- Growing focus on business optimization & performance
- Inclination toward building a data-driven organization
- Use to discover deeper insights and efficient predictive analysis
Market Restraints
- Limited availability of skilled technicians
Market Opportunities
- Introduction of next-generation analytical solutions
- Increase adoption of AI and ML-based analytical systems
Market Challenges
- Data privacy & security concerns associated with advanced analytics

Porter's Five Forces: A Strategic Tool for Navigating the Advanced Analytics Market

Porter's five forces framework is a critical tool for understanding the competitive landscape of the Advanced Analytics Market. It offers business organizations with a clear methodology for evaluating their competitive positioning and exploring strategic opportunities. This framework helps businesses assess the power dynamics within the market and determine the profitability of new ventures. With these insights, business organizations can leverage their strengths, address weaknesses, and avoid potential challenges, ensuring a more resilient market positioning.

PESTLE Analysis: Navigating External Influences in the Advanced Analytics Market

External macro-environmental factors play a pivotal role in shaping the performance dynamics of the Advanced Analytics Market. Political, Economic, Social, Technological, Legal, and Environmental factors analysis provides the necessary information to navigate these influences. By examining PESTLE factors, businesses can better understand potential risks and opportunities. This analysis enables business organizations to anticipate changes in regulations, consumer preferences, and economic trends, ensuring they are prepared to make proactive, forward-thinking decisions.

Market Share Analysis: Understanding the Competitive Landscape in the Advanced Analytics Market

A detailed market share analysis in the Advanced Analytics Market provides a comprehensive assessment of vendors' performance. Companies can identify their competitive positioning by comparing key metrics, including revenue, customer base, and growth rates. This analysis highlights market concentration, fragmentation, and trends in consolidation, offering vendors the insights required to make strategic decisions that enhance their position in an increasingly competitive landscape.

FPNV Positioning Matrix: Evaluating Vendors' Performance in the Advanced Analytics Market

The Forefront, Pathfinder, Niche, Vital (FPNV) Positioning Matrix is a critical tool for evaluating vendors within the Advanced Analytics Market. This matrix enables business organizations to make well-informed decisions that align with their goals by assessing vendors based on their business strategy and product satisfaction. The four quadrants provide a clear and precise segmentation of vendors, helping users identify the right partners and solutions that best fit their strategic objectives.

Strategy Analysis & Recommendation: Charting a Path to Success in the Advanced Analytics Market

A strategic analysis of the Advanced Analytics Market is essential for businesses looking to strengthen their global market presence. By reviewing key resources, capabilities, and performance indicators, business organizations can identify growth opportunities and work toward improvement. This approach helps businesses navigate challenges in the competitive landscape and ensures they are well-positioned to capitalize on newer opportunities and drive long-term success.

Key Company Profiles

The report delves into recent significant developments in the Advanced Analytics Market, highlighting leading vendors and their innovative profiles. These include Absolutdata by Infogain Corporation, Adobe Inc., Altair Engineering Inc., Alteryx, Inc., Amazon Web Services, Inc., CI&T, Inc., Databricks, Inc., DataChat Inc., FICO, Fortinet, Inc., H2O.ai, Inc., Imply Data, Inc., Intel Corporation, International Business Machines Corporation, KNIME AG, Microsoft Corporation, Moody's Analytics, Inc., NetCracker Technology Corporation, Oracle Corporation, Salesforce, Inc., SAP SE, SAS Institute Inc., Siemens AG, Siren Analytics, and TIBCO Software Inc. by Cloud Software Group, Inc..

Market Segmentation & Coverage

This research report categorizes the Advanced Analytics Market to forecast the revenues and analyze trends in each of the following sub-markets:

Based on Offerings, market is studied across Services and Solution. The Services is further studied across Managed Services and Professional Services.
Based on Analytics Type, market is studied across Big Data Analytics, Customer Analytics, Predictive Analytics, Prescriptive Analytics, Risk Analytics, and Statistical Analytics.
Based on Business Function, market is studied across Finance, Human Resources, Marketing & Sales, Operation Management, and Supply Chain.
Based on Deployment, market is studied across Cloud and On-premises.
Based on Organization Size, market is studied across Large Enterprises and Small & Medium-sized Enterprises.
Based on End-User, market is studied across Banking Finance Services & Insurance (BFSI), Government & Defence, Healthcare & Life Sciences, IT & Telecom, Manufacturing, Media & Entertainment, Retail & Consumer Goods, and Transportation & Logistics.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom.

The report offers a comprehensive analysis of the market, covering key focus areas:

1. Market Penetration: A detailed review of the current market environment, including extensive data from top industry players, evaluating their market reach and overall influence.

2. Market Development: Identifies growth opportunities in emerging markets and assesses expansion potential in established sectors, providing a strategic roadmap for future growth.

3. Market Diversification: Analyzes recent product launches, untapped geographic regions, major industry advancements, and strategic investments reshaping the market.

4. Competitive Assessment & Intelligence: Provides a thorough analysis of the competitive landscape, examining market share, business strategies, product portfolios, certifications, regulatory approvals, patent trends, and technological advancements of key players.

5. Product Development & Innovation: Highlights cutting-edge technologies, R&D activities, and product innovations expected to drive future market growth.

The report also answers critical questions to aid stakeholders in making informed decisions:

1. What is the current market size, and what is the forecasted growth?

2. Which products, segments, and regions offer the best investment opportunities?

3. What are the key technology trends and regulatory influences shaping the market?

4. How do leading vendors rank in terms of market share and competitive positioning?

5. What revenue sources and strategic opportunities drive vendors' market entry or exit strategies?

Product Code: MRR-5A2C6AA66918

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Growing focus on business optimization & performance
  - 5.1.1.2. Inclination toward building a data-driven organization
  - 5.1.1.3. Use to discover deeper insights and efficient predictive analysis
- 5.1.2. Restraints
  - 5.1.2.1. Limited availability of skilled technicians
- 5.1.3. Opportunities
  - 5.1.3.1. Introduction of next-generation analytical solutions
  - 5.1.3.2. Increase adoption of AI and ML-based analytical systems
- 5.1.4. Challenges
  - 5.1.4.1. Data privacy & security concerns associated with advanced analytics
5.2. Market Segmentation Analysis
5.3. Porter's Five Forces Analysis
- 5.3.1. Threat of New Entrants
- 5.3.2. Threat of Substitutes
- 5.3.3. Bargaining Power of Customers
- 5.3.4. Bargaining Power of Suppliers
- 5.3.5. Industry Rivalry
5.4. PESTLE Analysis
- 5.4.1. Political
- 5.4.2. Economic
- 5.4.3. Social
- 5.4.4. Technological
- 5.4.5. Legal
- 5.4.6. Environmental

6. Advanced Analytics Market, by Offerings

6.1. Introduction
6.2. Services
- 6.2.1. Managed Services
- 6.2.2. Professional Services
6.3. Solution

7. Advanced Analytics Market, by Analytics Type

7.1. Introduction
7.2. Big Data Analytics
7.3. Customer Analytics
7.4. Predictive Analytics
7.5. Prescriptive Analytics
7.6. Risk Analytics
7.7. Statistical Analytics

8. Advanced Analytics Market, by Business Function

8.1. Introduction
8.2. Finance
8.3. Human Resources
8.4. Marketing & Sales
8.5. Operation Management
8.6. Supply Chain

9. Advanced Analytics Market, by Deployment

9.1. Introduction
9.2. Cloud
9.3. On-premises

10. Advanced Analytics Market, by Organization Size

10.1. Introduction
10.2. Large Enterprises
10.3. Small & Medium-sized Enterprises

11. Advanced Analytics Market, by End-User

11.1. Introduction
11.2. Banking Finance Services & Insurance (BFSI)
11.3. Government & Defence
11.4. Healthcare & Life Sciences
11.5. IT & Telecom
11.6. Manufacturing
11.7. Media & Entertainment
11.8. Retail & Consumer Goods
11.9. Transportation & Logistics

12. Americas Advanced Analytics Market

12.1. Introduction
12.2. Argentina
12.3. Brazil
12.4. Canada
12.5. Mexico
12.6. United States

13. Asia-Pacific Advanced Analytics Market

13.1. Introduction
13.2. Australia
13.3. China
13.4. India
13.5. Indonesia
13.6. Japan
13.7. Malaysia
13.8. Philippines
13.9. Singapore
13.10. South Korea
13.11. Taiwan
13.12. Thailand
13.13. Vietnam

14. Europe, Middle East & Africa Advanced Analytics Market

14.1. Introduction
14.2. Denmark
14.3. Egypt
14.4. Finland
14.5. France
14.6. Germany
14.7. Israel
14.8. Italy
14.9. Netherlands
14.10. Nigeria
14.11. Norway
14.12. Poland
14.13. Qatar
14.14. Russia
14.15. Saudi Arabia
14.16. South Africa
14.17. Spain
14.18. Sweden
14.19. Switzerland
14.20. Turkey
14.21. United Arab Emirates
14.22. United Kingdom

15. Competitive Landscape

15.1. Market Share Analysis, 2023
15.2. FPNV Positioning Matrix, 2023
15.3. Competitive Scenario Analysis
15.4. Strategy Analysis & Recommendation

Companies Mentioned

1. Absolutdata by Infogain Corporation
2. Adobe Inc.
3. Altair Engineering Inc.
4. Alteryx, Inc.
5. Amazon Web Services, Inc.
6. CI&T, Inc.
7. Databricks, Inc.
8. DataChat Inc.
9. FICO
10. Fortinet, Inc.
11. H2O.ai, Inc.
12. Imply Data, Inc.
13. Intel Corporation
14. International Business Machines Corporation
15. KNIME AG
16. Microsoft Corporation
17. Moody's Analytics, Inc.
18. NetCracker Technology Corporation
19. Oracle Corporation
20. Salesforce, Inc.
21. SAP SE
22. SAS Institute Inc.
23. Siemens AG
24. Siren Analytics
25. TIBCO Software Inc. by Cloud Software Group, Inc.