The “Embedded Analytics Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” report has been added to ResearchAndMarkets.com’s offering.
The embedded analytics market was valued at USD 36.08 billion in 2020 and is expected to reach USD 77.52 billion by the end of 2026, projected at a growth rate of 13.6% over the forecast period 2020-25.
Companies Mentioned
- IBM Corporation
- Microsoft Corporation
- SAP SE
- SAS Institute Inc.
- MicroStrategy Incorporated
- Oracle Corporation
- Tableau Software (Sales Force, Inc.)
- TIBCO Software, Inc.
- Birst, Inc. (Infor Inc.)
- Logi Analytics, Inc
- QlikTech International AB
- Sisense Inc.
- Information Builders, Inc.
- OpenText Corp.
- Yellowfin International Pty Ltd
- GoodData Corporation
- Izenda, Inc.
- Vertica Systems, Inc. (HPE)
- WNS Global Services SA (Pty) Ltd
- Exago, Inc.
Key Market Trends
Healthcare is Expected to Witness Significant Growth
- The growth in the adoption of embedded analytics solutions across the healthcare sector is expected to be significant due to the increasing demand for analytics in managing the real-time data generated from various healthcare activities. The healthcare industry generates enormous amounts of data. Still, the management of different data sets across multiple data points is complicated due to several factors such as technical, economical, amongst others, which hinders the stakeholders in the industry to derive analytical insights. In addition to electronic medical records, there is now information collected from telemedicine interactions, patient health monitors, fitness trackers, etc. Moreover, as costs rise and health levels fall, public and privately funded healthcare environments shift from paying for service volume toward paying for service value.
- By applying powerful analytics to massive healthcare data growth, various stakeholders in different functional divisions can gain valuable insights, like for the clinical, operational, and financial functions. In 2019, at the RSNA 2019, Philips introduced its patient-centric approach and demonstrated an advanced clinical and operational capability embedded with AI and analytics. It will enhance and simplify various workflows by helping the organizations in viewing and data interpretation and diagnostic patient management workflows. In September 2019, GE Healthcare received FDA clearance of first artificial intelligence algorithms embedded on-device to prioritize critical chest x-ray review. These algorithms will allow the users to reduce the turn-around time for the radiologists significantly.
North America is Expected to Hold Major Share
- The adoption of data modernization technologies across various end-user industries in the North America region is maximum compared to the other areas, which is the primary reason driving the adoption of different analytical solutions like, embedded analytics in the region. The region maintains its position in the ICT industry as it is home to many large corporations, such as Apple, Facebook, IBM, and Google. The annual marketing data spending in the United States increased from USD 9,782.3 million in 2017 to USD 15,209 million in 2019, according to a survey by OnAudience, a big data platform. Moreover, the number of data-driven organizations is increasing in the United States, across all industries. Several end-user industries with significant adoption of analytics solutions such as embedded analytics are the healthcare, BFSI, manufacturing, amongst others, holds a dominant position in the region.
- Furthermore, major players in the embedded analytics market, such as IBM Corporation, Microsoft Corporation, and Oracle Corporation, are based in the United States. Their activities and efforts in advanced analytics are expected to aid this market in the country. For instance, in December 2019, Oracle has announced a new packaged analytics solution for finance: Oracle Analytics for fusion ERP, the first analytic application available from the Oracle Analytics for Applications product family. Oracle Analytics for applications helps the present Oracle ERP Cloud transaction reporting by answering additional questions for additional roles in the organization like management and executives. The embedded transactional reporting in the Oracle ERP Cloud application provides analytics and reporting to support the day-to-day operations for people like front line managers and operations users.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness – Porter’s Five Force Analysis
4.3 Technology Snapshot
4.4 Assessment of Impact of COVID-19 on the Industry
5 MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Increasing Demand for Advanced Analytical Techniques for Business Data
5.1.2 Increasing number of Data Driven Organizations
5.1.3 Increasing Adoption of Mobile BI and Big Data Analytics
5.2 Market Restraints
5.2.1 Licensing Challenges and Higher Associated Costs
6 MARKET SEGMENTATION
6.1 By Solution
6.2 By Size of Organisation
6.3 By Deployment
6.4 By End-user Vertical
6.5 Geography
7 COMPETITIVE LANDSCAPE
7.1 Company Profiles
8 INVESTMENT ANALYSIS
9 FUTURE OF THE MARKET
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