PUBLISHER: The Business Research Company | PRODUCT CODE: 1685987
PUBLISHER: The Business Research Company | PRODUCT CODE: 1685987
Data analytics is a comprehensive process encompassing the collection, cleansing, analysis, and interpretation of data to extract valuable insights that can inform strategic decisions. This approach aids organizations in uncovering, understanding, and communicating significant patterns within data, facilitating more informed and effective business decision-making.
The primary categories of data analytics include big data analytics, business analytics, customer analytics, risk analytics, statistical analysis, and others. Big data analytics involves the exploration and analysis of vast data volumes to identify market trends, insights, and patterns, ultimately supporting businesses in making more informed decisions. These analytics solutions can be deployed either on-premises or in the cloud, catering to the needs of both large enterprises and small and medium enterprises (SMEs). Applications of data analytics span diverse domains such as supply chain management, enterprise resource planning, database management, human resource management, and others, with significant use in sectors including banking, finance, and insurance (BFSI), government, healthcare, information technology (IT) and telecom, military and defense, and more.
The data analytics market research report is one of a series of new reports from The Business Research Company that provides data analytics market statistics, including data analytics industry global market size, regional shares, competitors with a data analytics market share, detailed data analytics market segments, market trends and opportunities, and any further data you may need to thrive in the data analytics industry. This data analytics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The data analytics market size has grown exponentially in recent years. It will grow from $74.83 billion in 2024 to $94.86 billion in 2025 at a compound annual growth rate (CAGR) of 26.8%. The growth in the historic period can be attributed to rising data volume, business intelligence demand, regulatory compliance requirements, cost efficiency and productivity gains, competitive advantage pursuit.
The data analytics market size is expected to see exponential growth in the next few years. It will grow to $257.96 billion in 2029 at a compound annual growth rate (CAGR) of 28.4%. The growth in the forecast period can be attributed to ai and machine learning integration, emergence of predictive analytics, expanding use cases across industries, cloud-based analytics solutions, focus on real-time analytics, data privacy and security concerns. Major trends in the forecast period include utilization of data analytics in cybersecurity, focus on explainable ai in data interpretation, expanding role of data analytics in customer experience, application of data analytics in supply chain optimization, cross-industry collaboration for data insights.
The expansion in real-time data analytics adoption is poised to act as a catalyst in propelling the data analytics market growth in the foreseeable future. Real-time data analytics, an influential tool, operates by analyzing data as it is generated, enabling businesses to make instantaneous decisions. This approach enables corporations to identify trends, patterns, and anomalies in real-time, allowing for proactive adjustments and interventions, particularly in industries such as finance, healthcare, and manufacturing, where swift decision-making is crucial. As per a survey conducted by KX Systems Inc. in May 2022, involving over 1,200 companies across the US, France, and Germany, around 80% reported increased revenue due to real-time data analytics adoption. Moreover, in American and Australian firms, 62% indicated more efficient process rollouts post-implementation of real-time data systems. The substantial impact is evident in cost savings, with real-time data analytics contributing $321 billion in non-personnel-related operational expenditure savings in 2022. This figure is estimated to escalate to $379 billion upon full deployment across all enterprises in leading industry sectors. Hence, the burgeoning adoption of real-time data analytics is anticipated to be a driving force behind the data analytics market.
The surge in the adoption of big data is anticipated to fuel the growth trajectory of the data analytics market in the coming years. Big data encompasses large and intricate data sets challenging to process using conventional data-processing applications. The utilization of big data necessitates advanced analytics tools capable of handling and analyzing vast amounts of data from diverse sources. The proliferation of big data derived from various origins, including social media, IoT devices, and sensors, has led to an increased demand for cutting-edge analytics tools to extract valuable insights from massive datasets. Statistics from December 2022 reveal that 78% of very large organizations (comprising over 10,000 employees), 48% of large organizations (with more than 1,000 workers), and 43% of mid-size organizations (employing over 100 individuals) leveraged big data. This trend underlines the significant role played by the rise in big data adoption, which is currently steering the growth of the data analytics market.
Prominent entities within the data analytics market are concentrating on introducing advanced solutions, such as unified analytics platforms, to cater to their clientele and fortify their market positioning. Unified analytics platforms refer to software solutions providing a consolidated environment for gathering, storing, analyzing, and visualizing data from diverse sources. An example is Microsoft Corporation's initiative in May 2023 with the introduction of Microsoft Fabric, an end-to-end unified analytics platform. Fabric integrates various data and analytics tools such as Azure Data Factory, Azure Synapse Analytics, and Power BI into a cohesive package. By offering a unified experience and architecture, this platform empowers both data and business professionals to leverage the full potential of data and lay the foundation for the AI era. The incorporation of Azure Open AI Service within Fabric allows developers to harness generative AI's power against data, aiding business users in extracting meaningful insights. This unified approach streamlines the process, providing developers with the necessary tools to derive insights from data and effectively communicate these insights to business users. Overall, the introduction of unified analytics platforms represents a strategic move toward meeting diverse data analytics needs and enhancing the market's growth prospects.
In July 2023, ThoughtSpot Inc., a US-based developer of business intelligence analytics search software, completed the acquisition of Mode Analytics Inc. for $200 million. This strategic move enhances ThoughtSpot's position as an industry leader, facilitating the development of the next generation of collaborative, AI-first business intelligence (BI) solutions. The acquisition is expected to result in a comprehensive platform addressing contemporary BI needs. Mode Analytics Inc., based in the US, is a provider of a modern business intelligence platform offering various data analytics services.
Major companies operating in the data analytics market report are Google LLC, Microsoft Corp, Dell Inc., Amazon Web Services Inc., IBM Corporation, Oracle Corporation, SAP SE, Salesforce Inc., SAS Institute Inc., Teradata Corp, Databricks Inc., TIBCO Software Inc., Alteryx Inc., Zoho Corporation Pvt Ltd., Qlik International AB, Mu Sigma Inc., BOARD International S.A., ThoughtSpot Inc., Pyramid Analytics BV, Absolutdata Technologies Inc., GoodData Corporation, Logi Analytics Inc., SiSense Inc., Yellowfin International Pty Ltd., Datameer Inc., Plotly Technologies Inc., Chartio
North America was the largest region in the data analytics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the data analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the data analytics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The data analytics market consists of revenues earned by entities by providing data visualization, predictive modeling, and statistical analysis. The market value includes the value of related goods sold by the service provider or included within the service offering. The data analytics market also includes sales of central processing units (CPUs), graphics processing units (GPUs), high-performance data science workstations, solid state drives (SSDs), and video cards. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Data Analytics Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on data analytics market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for data analytics ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The data analytics market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.