06-Feb-2020 | Facts and Factors
Facts and Factors have authored “Embedded Analytics Market By Function (Finance, Human Resources, IT, Marketing & Sales, Production, & Others), By Industry Vertical (BSFI, Telecommunications & IT, Retail & Consumer Goods, Healthcare & Life Sciences, Manufacturing, Government, Energy & Utilities, Media & Entertainment, Transportation & Logistics, & Others), By Component (Software & Services), By Organization Size (Large Enterprises & SMEs), And By Regions - Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast 2021 – 2026”. Based on our analysis, the global Embedded Analytics market in 2020 is approximately USD 26.5 Billion and is anticipated to reach around USD 52.3 Billion by 2026. The anticipated CAGR for the Embedded Analytics market is around 9.9% from 2021 to 2026.
Embedded analytics is the combination of capabilities and analytic content directly into the application. It can also be termed as the integration of reporting capabilities and business intelligence within business process applications. It also provides appropriate information and analytical tools which are designed so that users can work smartly and efficiently in the day to day application use.
Browse the full “Embedded Analytics Market By Function (Finance, Human Resources, IT, Marketing & Sales, Production, & Others), By Industry Vertical (BSFI, Telecommunications & IT, Retail & Consumer Goods, Healthcare & Life Sciences, Manufacturing, Government, Energy & Utilities, Media & Entertainment, Transportation & Logistics, & Others), By Component (Software & Services), By Organization Size (Large Enterprises & SMEs), And By Regions - Global & Regional Industry Perspective, Comprehensive Analysis, and Forecast 2021 – 2026” report at https://www.fnfresearch.com/embedded-analytics-market
Embedded analytics capabilities include dashboards and data visualizations, self-service analytics and ad hoc querying, static and interactive reports, mobile reporting, benchmarking, predictive analytics, and visual workflows.
Embedded analytics also delivers better analytics that helps in increasing the product quality and decision-making for an organization. Some of the advantages of embedded analytics include:
• It aids as a revenue generator that helps in providing potential advancement in licensing for analytical modules.
• The software provides insights and other analytical objects on the dashboard, allowing the user to take quick action.
Organizations are always keen to crack the most valuable insights into the large volume of collected data. To make better decisions employees need to analyze and explore the available data, which would require applications that are integrated with analytics, to help them extract information from raw data. The rising need for analytics has altered the expectations of employees. They expect the applications to be equipped with customizable dashboards and reports, with quick and easy interaction of data sets.
Increasing variations and complications in data sets are generating demand for embedded analytics to facilitate users to gain the insight they need, without a delay. It is important to have relevant information in the context of the applications which people use every day to build a data-driven organization the embedded analytics offers software and services which can be used to analyze and process data in an application to generate actionable insights. Thus, the rise of data-driven organizations is likely to drive the growth of the embedded analytics market in the forecast period.
The surging adoption of embedded analytics by numerous organizations for various applications is surging. However, it is vital to integrate a data management system with an established legacy and proven systems. These legacy systems might have major flaws, as these systems do not contain well-defined interfaces and their documentation is infrequent. Nevertheless, there are several benefits of implementing embedded analytics technology, the cost involved in replacing traditional systems with appropriate embedded analytics software in the organization coupled with maintaining and training the employees on using it remains very high.
Digitalization in the Asia Pacific region has led to an increase in the usage of technology for various business processes in the past few years. Increasing usage of online platforms by businesses along with analytical software and technologies to take accurate decisions to stay ahead of competitors. With the adoption of the technologies such as artificial intelligence along with business intelligence tools to access structured or unstructured datasets to perform analysis and derive actionable business, based on which data scientists to take tactical business decisions.
The Embedded Analytics Market is segmented based on Analytical Tool, Component, Deployment, and Application. By Analytical Tool the market is divided into Reporting, Self-Service Tools, Dashboard and Data Visualization, Benchmarking. Out of all the segments of Analytical Tool, Reporting has the biggest market, and according to reports generated by our MRS team its market share in 2019 is approximately 37% and is anticipated to reach around 40% by 2026. The anticipated CAGR for reporting is around 16% from 2020 to 2026.
Component-wise, the market is classified into Software and Services. Out of both the component-wise bifurcation, the software has the largest market size with 77% of global market share in 2019 and the anticipated CAGR of 14% from the year 2020 to 2026.
In terms of Deployment, the market segment is sectored into Cloud and On-Premise. Out of both the sectors cloud sector has the maximum market size with 76 % of the global market share in the year 2019 and is expected to reach up to 77% by 2026. The expected CAGR for the Cloud sector is around 14% from 2020 to 2026
On the basis of Application, the market is bifurcated into Human resources, Sales & marketing, operations, Finance, and Others. In the application market, the operations segment has the highest market size with around 34% of the global market share in 2019 and is anticipated to decline at a slow pace with 30% by 2026. The expected CAGR for sale & marketing is the highest and is expected around 15% from 2020 to 2026.
Furthermore, region-wise segmentation is bifurcated into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. Amongst all North America has the largest market size with 39% of global shares in 2019. The fastest-growing region is Latin America with a CAGR of 16% from 2020 to 2026.
Top Market Players
The key market participants for the global embedded analytics market are Microsoft Corporation, IBM Corporation, SAP SE, SAS Institute, Oracle Corporation, Birst, Logi Analytics, QlikTech International, Sisense, Information Builders, Open Text Corporation, Yellowfin International, TIBCO Software, Inc., and Tableau Software, among others.
This report segments the Embedded Analytics Market as follows:
Global Embedded Analytics Market: By Function Segment Analysis
- Human Resources
- Marketing & Sales
Global Embedded Analytics Market: By Industry Vertical Segment Analysis
- Telecommunications & IT
- Retail & Consumer Goods
- Healthcare & Life Sciences
- Energy & Utilities
- Medias & Entertainment
- Transportation & Logistics
Global Embedded Analytics Market: By Component Segment Analysis
- Managed Services
- Professional Services
Global Embedded Analytics Market: By Organization Size Segment Analysis
Global Embedded Analytics Market: Regional Segment Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- South-East Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- The Middle-East and Africa
- GCC Countries
- South Africa
- Rest of Middle-East Africa
Facts & Factors is a leading market research organization offering industry expertise and scrupulous consulting services to clients for their business development. The reports and services offered by Facts and Factors are used by prestigious academic institutions, start-ups, and companies globally to measure and understand the changing international and regional business backgrounds. Our client’s/customer’s conviction on our solutions and services has pushed us in delivering always the best. Our advanced research solutions have helped them in appropriate decision-making and guidance for strategies to expand their business.
Facts & Factors
A 2108, Sargam,
Pune 411041, India
Tel: +91 96043 17127
USA: 1 (347) 690-0211
Email: [email protected]