DESCRIPTIVE ANALYTICS MARKET - By Verticals (BFSI, Telecom, Retail & Consumer Goods, Healthcare, and Energy & Utilities), Regions (North America, Western Europe, Central Eastern Europe, Asia Pacific, Middle East & Africa, and Latin America)Global Market Drivers, Opportunities, Trends, and Forecasts, 2016-2022
Over the past few years, there is a drastic increase in the volume of data due to increasing adoption of digital technology, big data, and advanced technologies in all the industries. The enterprises are aggressively moving towards adoption of analytics techniques to analyse structured and unstructured data and get the valuable insights to make better decisions. The descriptive analytics provides valuable information about the past business failure or success. These insights help the business to make better business plans and make success in the future business. The descriptive analytics tools are being widely adopted in all the industry sectors and are the primary elements in analytics tree.
The increasing adoption of digital technologies, the need of analytics, increasing return on investments (ROI), and a huge amount of data creation have led the organizations to adopt descriptive analytics. The descriptive analytics market is expected to grow at a CAGR of 18.2% during the period 2016–2022.
The descriptive analytics market is analyzed based on verticals and regions. Verticals include BFSI, Retail & Consumer Goods, and Healthcare, Telecom and Energy & Utilities and others. Globally, BFSI and Retail verticals are set to be the major verticals and are contributing more than 42% of the market share in 2016 and Healthcare industry is set to be the emerging market in the next six to seven years. In addition, customer analytics and risk analytics are expected to outperform for analytics market growth in every industry sector followed by financial analytics and sales & marketing analytics.
Regions covered are North America, Latin America, Western Europe, Central Eastern Europe, Asia Pacific, and Latin America. North America is set to be the leading region for the descriptive analytics market growth followed by Western Europe. The increasing spending on advance technologies, digital technologies, Internet of Things (IoT) are few major drivers expected to support the descriptive analytics market.
The report also helps in getting complete picture (vertical market opportunity, regional market opportunity, challenges, current market trends, future market trends, evolution, technology road map, etc.) of the descriptive analytics.
The key players covered in the report are IBM, Oracle, Dell, Accenture, TCS, Infosys, SAP, Microsoft, etc.
The study covers and analyses the “Descriptive Analytics” market globally. Bringing out the complete key insights of the industry, the report aims to provide an opportunity for players to understand the latest trends, current market scenario, and technologies related to the market. In addition, helps the venture capitalist in understanding the companies better and take informed decisions.