Embedded Analytics Market Size Projected to Garner USD 180.5 Billion by 2032 growing at 12.7% CAGR - Exclusive Report by Acumen Research and Consulting
The Global Embedded Analytics Market Size is predicted to reach USD 180.5 Billion by 2032 from USD 55.3 Billion in 2022, at a CAGR of 12.7% between 2023 and 2032, as per the Acumen Research and Consulting
The market for embedded analytics has been experiencing significant growth in recent years. Embedded analytics refers to the integration of analytical capabilities directly into software applications or platforms, enabling users to access and analyze data within their workflow or context, without the need to switch to a separate analytics tool. It brings data-driven insights and visualizations to the point of decision-making, empowering users to make informed choices and take immediate action. By embedding analytics, organizations can enhance their applications with powerful data analysis capabilities, providing users with a seamless and intuitive experience.
Organizations across various industries are recognizing the value of embedding analytics into their applications to drive better decision-making, improve operational efficiency, and enhance customer experiences. The increasing demand for real-time data analysis, self-service capabilities, and the need to derive insights at the point of action are driving the adoption of embedded analytics solutions. Furthermore, the rise of big data and the proliferation of Internet of Things (IoT) devices have resulted in a massive influx of data that needs to be processed and analyzed. Embedded analytics offers a solution by enabling organizations to leverage this data to gain valuable insights and drive business outcomes. Additionally, advancements in technology, such as cloud computing and artificial intelligence, have made it easier to embed sophisticated analytics capabilities into applications, further fueling the Embedded Analytics Market growth.
Embedded Analytics Market Statistics
- Global Embedded Analytics Market value was worth USD 55.3 Billion in 2022, with a 12.7%CAGR from 2023 to 2032
- North America Embedded Analytics Market share occupied around 41% in 2022
- Asia-Pacific region is expected to expand at the highest CAGR between 2023 and 2032
- By analytics tool, the dashboard and data visualization segment captured the largest market share in 2022
- Increasing adoption of data-driven decision-making across industries, propel the Embedded Analytics Market revenue
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Embedded Analytics Market Trends
One of the major trends is the increasing focus on augmented analytics. Augmented analytics leverages machine learning and AI algorithms to automate data preparation, analysis, and visualization, making it easier for users to derive insights from complex data sets. This shift towards augmented analytics simplifies the analytical process and enables business users with varying levels of technical expertise to explore data and make data-driven decisions.
Another important trend is the growing demand for embedded analytics in mobile and web applications. With the rise of mobile devices and the increasing need for on-the-go access to data, organizations are embedding analytics capabilities directly into their mobile applications and web portals. This allows users to access real-time insights and visualizations on their smartphones or tablets, enabling them to make informed decisions from anywhere, at any time.
Additionally, there is a rising emphasis on embedded analytics in the context of embedded BI (Business Intelligence) platforms. Embedding BI capabilities into existing applications enables seamless integration of analytics into the user's workflow, eliminating the need for users to switch between different tools or interfaces. This integration enhances user productivity, as they can access analytics within their familiar application environment, eliminating the learning curve associated with new tools.
Embedded Analytics Market Segmentation
Acumen Research and Consulting has segmented the global Embedded Analytics Market by analytics tool, deployment mode, organization size, business function, industry vertical, and region.
- By analytics tool, the industry is categorized into dashboard and data visualization, benchmarking, self-service tools, and reporting.
- By deployment mode, the market is divided into cloud-based, and on-premises.
- By organization size, the market is classified into large enterprises, and SMEs.
- By business function, the market is split into finance, production, marketing and sales, human resources, and others.
- By industry vertical, the market is bifurcated into BFSI, retail and consumer goods, IT and telecommunication, government, healthcare and life sciences, energy and utilities, manufacturing, and others.
- By region, the market is classified into Asia-Pacific, North America, Europe, Latin America, and the MEA.
Embedded Analytics Market Regional Overview
According to the embedded analytics industry analysis, the Asia-Pacific is experiencing significant growth in the embedded analytics market over the forecasting years. One key driver is the rapid digital transformation and adoption of advanced technologies across various industries in the region. Countries like China, India, Japan, South Korea, and Singapore are witnessing a surge in the implementation of digital solutions, leading to an increased demand for embedded analytics capabilities. Organizations are recognizing the need to harness their data effectively to gain insights and drive business outcomes, thereby driving the adoption of embedded analytics solutions. Another factor contributing to the growth of the embedded analytics market in Asia-Pacific is the expanding e-commerce industry. With the rise of online shopping and digital platforms, businesses are seeking to leverage data analytics to understand customer behavior, personalize experiences, and optimize operations. Embedded analytics provides e-commerce platforms with the ability to analyze customer data in real-time, identify trends, and deliver personalized recommendations, enhancing the overall customer experience and driving sales growth.
Embedded Analytics Market Players
Some of the prominent Embedded Analytics Market companies are Microsoft Corporation, SAP SE, IBM Corporation, MicroStrategy Incorporated, Tableau Software (now part of Salesforce), TIBCO Software Inc., QlikTech International AB, SAS Institute Inc., Sisense Inc., Logi Analytics Inc., Looker Data Sciences Inc. (now part of Google Cloud), and Yellowfin BI.
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