According to the latest report by IMARC Group, titled, “Embedded Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, The global embedded analytics market reached a value of US$ 47.8 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 108.3 Billion by 2027, exhibiting at a CAGR of 14.41% during 2022-2027.
Embedded analytics refers to a digital workplace capability wherein data analysis occurs within a natural workflow of users. It offers visual workflows, static reports, dashboards, hoc querying, predictive analytics, mobile reporting, and benchmarking. It assists in enhancing decision-making, increasing productivity and sales, and improving business performance. It also aids in maintaining brand identity and data confidentiality and generating more revenues. Besides this, it helps customize actions based on the interaction of customers with dashboards and visualizations. As a result, embedded analytics is widely employed in the healthcare, media and entertainment, IT and telecommunication, e-commerce, defense, education, and banking, financial services, and insurance (BFSI) industries around the world.
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Embedded Analytics Market Trends and Drivers:
At present, the increasing demand for embedded analytics as it assists in managing real-time data generation represents one of the primary factors contributing to the market growth. Besides this, the growing adoption of big data and the internet of things (IoT) among numerous organizations to achieve optimum performance is offering a positive market outlook. Apart from this, the rising demand for embedded analytics due to various benefits, such as cost-effectiveness and increased efficiency and productivity, is propelling the growth of the market. Moreover, the increasing demand for embedded analytics due to the rapid adoption of mobile devices and cloud computing is offering lucrative growth opportunities to industry investors. Furthermore, the rising utilization of embedded analytics by small and medium-sized enterprises (SMEs) is strengthening the market growth.
Embedded Analytics Market 2022-2027 Competitive Analysis and Segmentation:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
- Infor (Koch Industries Inc.)
- International Business Machines Corporation
- Logi Analytics Inc. (Insightsoftware Inc.)
- Microsoft Corporation
- Open Text Corporation
- Oracle Corporation
- QlikTech International AB
- SAP SE
- Sisense Inc.
- Tableau Software LLC (Salesforce.com Inc)
- TIBCO Software Inc
The report has segmented the market based on solution, analytics tool, deployment mode, business function, organization size and industry vertical.
Breakup by Solution:
Breakup by Analytics Tool:
- Dashboard and Data Visualization
- Self-service Tools
Breakup by Deployment Mode:
Breakup by Business Function:
- Human Resources
- Marketing and Sales
Breakup by Organization Size:
- Small and Medium-sized Enterprises (SMEs)
- Large Enterprises
Breakup by Industry Vertical:
- IT and Telecommunication
- Retail and Consumer Goods
- Healthcare and Life Sciences
- Energy and Utilities
Breakup by Region:
- North America
- Latin America
- Middle East and Africa
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