Embedded analytics is the technology designed to integrate data in a single platform so as to ease accessibility and analysis of data and business intelligence easy and meaningful. Embedded analytics is integrated into software applications of a company and operates as a component and extension of the innate software application rather than a different platform. Examples of embedded analytics include Microsoft Azure, and IBM embedded analytics.
The global Embedded Analytics Market is projected to grow to USD 52 Billion by 2023, at a CAGR of 14 % during the review period of 2017 and 2023.
Major Key Players:
The major players in the global embedded analytics market are Microsoft Corporation (U.S.), IBM (U.S.), SAP SE (Germany), SAS Institute (U.S.), Oracle Corporation (U.S.), Logi Analytics (U.S.), Tableau Software (U.S.), TIBCO Software (U.S.), MicroStrategy Incorporated (U.S.), Birst (U.S.), and others.
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Market Dynamics Drivers:
The growing number and prosperity of data driven organizations, surge in e-commerce, growing cloud technologies, rise in penetration of smart devices and internet, etc. has resulted in proliferation of volume and complexity of data. These factors have created a precedent for adoption of self-service analytics, and better data management.
The adoption of analytics have demonstrated an increase in revenues resulting from informed data-based decisions by approximately 60 %. Embedded analytics beats standard analytics solutions in two critical parameters.
First, embedded analytics can be scaled to a higher factors at a fraction of cost of standard analytics solutions. Second, today’s business need data from multiple data sources and embedded analytics are born of the necessity of it. Embedded analytics also drive the cost down owing to their functionality with commodity hardware in contrast to expensive enterprise hardware needed for many standard analytics solutions.
Adopting embedded analytics to fit an ever changing IT environment have raised the issue of seamless integration. Concerns over information security and control of key business information and intellectual property are key restraints on the market.
North America led by the U.S. accounts for largest market owing to presence of major players and rapid uptake of new technology. Europe accounts for the second largest share of the market led by Germany, France and the U.K.
However the Asia Pacific region is expected to be fastest growing owing to a growing economy, fiery growth of information technology sector, growing competition due top globalization and others. Asia Pacific is expected to be led by Japan, China and India.
The Middle East and Africa region is expected to be dominated by the Gulf economies of Saudi Arabia, UAE, Kuwait, and Qatar.
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- To generate an accurate understanding of the intricacies of the global embedded analytics market the report has been segmented by components, application, deployment, organization size, vertical and regions.
- On the basis of components, the market has been segmented by software, services, professional service, managed services, and others.
- On the basis of application, the market has been segmented by IT, Human Resource, Finance, Marketing & Sales, Production, and Others.
- On the basis of deployment, the market has been segmented by cloud, and on-premise. Cloud solution accounts for the largest market share owing to lowest cost associated with the IT infrastructure, focus on core business competencies, efficient storage, data integrity, scalability and remote operability.
- On the basis of organization size, the market has been segmented by small, medium organization and large organization.
- On the basis of vertical, the market has been segmented by it & telecommunication, energy & utilities, manufacturing, healthcare & life science, media & entertainment, and others
- Based on regions, the market has been segmented by North America, Europe, Asia Pacific and Middle East and Africa.
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