Embedded Analytics Market to Reach USD 62100 Million by 2028 at a CAGR of 11.4% | Valuates Reports

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21 Mar, 2022, 19:30 IST

BANGALORE, India, March 21, 2022 /PRNewswire/ -- The Embedded Analytics Market is Segmented by Type (Managed services, Professional services, Consulting services, Education and training, Support and maintenance), by Application (IT, Production, Finance, Human Resource, Product Development and Legal). The report covers global opportunity analysis, regional outlook, growth potential, industry forecast from 2022 - 2028.

The global Embedded Analytics market size is projected to reach USD 62100 Million by 2028, from USD 28890 Million in 2021, at a CAGR of 11.4% during 2022-2028.

Major Factors Driving the Growth of the Embedded Analytics Market

The rise in data volume and complexities is driving the adoption of embedded analytics. The in-built infrastructure provides complete real-time access and extracts crucial data from a bevy of information. Cost is effectively reduced due to no significant investments in training as it is tailored to both businesses' and consumers' needs.  

The rapid integration, reliance on analytics tools, and technological advancements will spur the growth of the global embedded analytics market. The added advantages are increased employee productivity and faster decision-making.

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TRENDS INFLUENCING THE GROWTH OF THE EMBEDDED ANALYTICS MARKET

The huge influx of connected devices has increased data complexity and volume. The continuous up-gradation has forced enterprises to embed analytics directly into their business applications. Embedded analytics can cut through the information overload and provide analysis on the most crucial data that is required for taking important decisions at that precise moment. This makes the data readily available and leads to enhanced decision-making. These factors will drive the growth of the embedded analytics market during the forecast period.

Organizations are relying heavily on embedded analytic tools which can be used within commonly used applications. This leads to employee efficiency. The capability to visualize real-time data allows marketing, sales, finance, and other departments to make profitable decisions quickly thereby maximizing revenue. Embedded analytics is cost-efficient, scalable, and provides more granular insights than traditional business intelligence tools. The need for separate infrastructure is eliminated.

The rapid technological advancements will spur the growth of the embedded analytics market in the coming years. Machine learning-based predictive analysis provides futuristic insights into market trends. The in-built 360-degree dashboard collects different datasets from across departments and roles. Moreover, these tools are tailored to the customers' and business needs. They automatically adapt to the application interface, saving additional costs related to training. Further, a team of experts is always on the lookout for fresh upgrades and innovations. They are readily available in less time.

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EMBEDDED ANALYTICS MARKET SHARE ANALYSIS

Based on application, Marketing and sales accounted for the largest market share in 2019. As embedded analytics help marketing and sales departments in territory management, campaign management, automating reports, visualization for identifying trends, customer acquisition costs, and working programs.

Based on type, the professional services segment is expected to provide huge scope for growth due to the increasing need for software solutions across industry verticals.

Based on region, North America will dominate during the forecast period due to the presence of big data-driven enterprises, technological advancements, and increasing awareness regarding embedded analytics.

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  • Microsoft
  • Opentext Corporation
  • Oracle
  • SAP Se
  • SAS Institute
  • Tableau Software Inc.
  • BIRSt
  • Information Builders
  • Logi Analytics
  • Microstrategy Incorporated
  • Sisense
  • Tibco Software
  • Qliktech International AB
  • Yellowfin International

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