The advanced analytics market size is projected to be worth USD 15,149.8 million in 2024. The market is likely to reach USD 26,688.0 million by 2034. The market is further expected to surge at a CAGR of 5.8% during the forecast period 2024 to 2034.
Key Market Trends and Highlights
Attributes | Key Insights |
---|---|
Advanced Analytics Market Estimated Size in 2024 | USD 15,149.8 million |
Projected Market Value in 2034 | USD 26,688.0 million |
Value-based CAGR from 2024 to 2034 | 5.8% |
The scope for advanced analytics rose at a 5.5% CAGR between 2019 and 2023. The global market for advanced analytics is anticipated to grow at a moderate CAGR of 5.8% over the forecast period 2024 to 2034.
Report Attributes | Details |
---|---|
Market Value in 2019 | USD 11,954.1 million |
Market Value in 2023 | USD 14,355.5 million |
CAGR from 2019 to 2023 | 5.5% |
The advanced analytics market experienced a significant growth during the historical period from 2019 to 2023. The exponential growth in data generation from various sources, including social media, IoT devices, and business operations, has driven the demand for advanced analytics tools to derive valuable insights from vast datasets.
Organizations increasingly recognized the importance of data driven decision making. Advanced analytics solutions offered sophisticated tools for business intelligence, enabling companies to make informed decisions based on data analysis.
Different industries, including finance, healthcare, retail, and manufacturing, adopted advanced analytics for industry specific applications. For instance, predictive analytics in healthcare and fraud detection in finance.
The forecast period from 2024 to 2034 is expected to see accelerated growth in the market. The integration of artificial intelligence and machine learning capabilities into advanced analytics platforms is expected to enhance predictive modeling, anomaly detection, and automation, driving increased adoption.
The adoption of advanced analytics is expected to expand across various industries, including those that may not have traditionally embraced these technologies. The diversification will contribute to market growth. There will be a growing focus on prescriptive analytics, providing actionable insights and recommendations for optimal decision making.
Advanced analytics solutions that prioritize and ensure compliance with regulations will be in high demand, especially in regions with stringent data protection laws, with the increasing focus on data security and privacy.
The below table showcases revenues in terms of the top 5 leading countries, spearheaded by Japan and India. The countries are expected to lead the market through 2034.
Forecast CAGRs from 2024 to 2034
The United States | 2.3% |
---|---|
The United Kingdom | 3.2% |
India | 7.6% |
China | 6.7% |
Japan | 8.8% |
The advanced analytics market in the United States expected to expand at a CAGR of 2.3% through 2034. The United States is home to a vast and diverse range of industries that generate large volumes of data. The proliferation of digital technologies, IoT devices, and online activities contributes to the increasing demand for advanced analytics to derive insights from this data.
The United States continues to invest heavily in big data infrastructure and technologies. The ability of advanced analytics to process and analyze large datasets aligns with the focus of the country on leveraging big data for strategic decision making.
The advanced analytics market in Japan is anticipated to expand at a CAGR of 8.8% through 2034. The Japanese government has been promoting digital transformation and technology adoption across industries. Initiatives supporting the use of advanced analytics in areas such as healthcare, manufacturing, and smart cities contribute to market growth.
Japan has a rapidly aging population, and healthcare analytics plays a crucial role in addressing healthcare challenges. Analytics is used for patient care optimization, disease prevention, and improving overall healthcare outcomes.
The advanced analytics market in India is poised to expand at a CAGR of 7.6% through 2034. India is witnessing a rapid digital transformation across industries. Organizations are adopting advanced analytics as a key component of their digital strategies to gain insights, improve operational efficiency, and enhance customer experiences.
The manufacturing sector in India is embracing Industry 4.0 practices, incorporating advanced analytics to optimize production processes, monitor equipment health, and enhance overall operational efficiency.
Advanced analytics trends in China are taking a turn for the better. A 6.7% CAGR is forecast for the country from 2024 to 2034.
The thriving e-commerce ecosystem in China, led by companies like Alibaba and JD.com, relies on advanced analytics for customer segmentation, personalized marketing, supply chain optimization, and fraud detection. The growth of online retail contributes to the demand for analytics solutions.
The financial services sector in China, including fintech companies, is leveraging advanced analytics for risk management, fraud detection, credit scoring, and customer engagement. The rapid growth of fintech in China is a key driver of analytics adoption.
The advanced analytics market in the United Kingdom is anticipated to expand at a CAGR of 3.2% through 2034. The telecommunications sector in the United Kingdom is actively involved in technology adoption, including advanced analytics for network optimization, customer experience enhancement, and the deployment of innovative services.
Collaboration between technology companies, research institutions, and industry players fosters innovation in analytics solutions. Cross industry collaboration accelerates the development and application of advanced analytics across various sectors.
The below table highlights how big data analytics segment is projected to lead the market in terms of solution, and is expected to account for a share of 23.3% in 2024.
Based on industry, the BFSI segment is expected to account for a share of 22.6% in 2024.
Category | Shares in 2024 |
---|---|
Big Data Analytics | 23.3% |
BFSI | 22.6% |
Based on solution, the big data analytics segment is expected to continue dominating the advanced analytics market. The segment is expected to account for a share of 23.3% in 2024.
The exponential growth of data generated by various sources, including social media, IoT devices, and transactional systems, creates a need for advanced analytics solutions capable of processing large volumes of data quickly. Big data analytics is designed to handle the sheer scale and diversity of data.
Big data analytics enables organizations to derive deeper insights from vast datasets, uncovering patterns, trends, and correlations that may not be apparent through traditional analytics. The enhanced decision making capability is a key driver for the adoption of big data analytics solutions.
Big data analytics plays a crucial role in processing and analyzing data in real time, as businesses increasingly demand real time insights. The capability is essential for making timely decisions, especially in dynamic and fast paced industries.
In terms of industry, the BFSI segment is expected to continue dominating the advanced analytics market. The segment is expected to account for a share of 22.6% in 2024.
Advanced analytics plays a crucial role in detecting and preventing fraudulent activities within the financial sector. Machine learning algorithms can analyze transaction patterns, identify anomalies, and raise alerts for potential fraudulent transactions, enhancing overall security.
The BFSI sector is subject to strict regulatory requirements. Advanced analytics assists in risk management by evaluating and predicting market trends, credit risks, and compliance issues. Analytics tools help financial institutions ensure adherence to regulatory standards and avoid penalties.
Advanced analytics enables banks and insurance companies to analyze customer data to create meaningful segments. The organizations can tailor products and services, by understanding customer behavior and preferences, leading to improved customer satisfaction and loyalty.
The key strategies chosen by large companies include several growth strategies such as technology development, expansion as well and mergers and acquisitions to surge market share, reach and revenue.
Attribute | Details |
---|---|
Estimated Market Size in 2024 | USD 15,149.8 million |
Projected Market Valuation in 2034 | USD 26,688.0 million |
Value-based CAGR 2024 to 2034 | 5.8% |
Forecast Period | 2024 to 2034 |
Historical Data Available for | 2019 to 2023 |
Market Analysis | Value in USD million |
Key Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia; and Pacific East Asia The Middle East & Africa |
Key Market Segments Covered | Solution Industry Region |
Key Countries Profiled | The United States Canada Brazil Mexico Germany France France Spain Italy Russia Poland Czech Republic Romania India Bangladesh Australia New Zealand China Japan South Korea GCC countries South Africa Israel |
Key Companies Profiled | Altair Engineering, Inc.; Fair Isaac Corporation; International Business Machines Corporation; KNIME; Microsoft Corporation; Oracle Corporation; RapidMiner, Inc.; SAP SE; SAS Institute Inc.; Trianz; Infor; Teradata |
Table 1: Global Market Value (US$ Million) Forecast by Region, 2019 to 2034
Table 2: Global Market Value (US$ Million) Forecast by Solutions , 2019 to 2034
Table 3: Global Market Value (US$ Million) Forecast by Industry , 2019 to 2034
Table 4: North America Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 5: North America Market Value (US$ Million) Forecast by Solutions , 2019 to 2034
Table 6: North America Market Value (US$ Million) Forecast by Industry , 2019 to 2034
Table 7: Latin America Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 8: Latin America Market Value (US$ Million) Forecast by Solutions , 2019 to 2034
Table 9: Latin America Market Value (US$ Million) Forecast by Industry , 2019 to 2034
Table 10: Western Europe Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 11: Western Europe Market Value (US$ Million) Forecast by Solutions , 2019 to 2034
Table 12: Western Europe Market Value (US$ Million) Forecast by Industry , 2019 to 2034
Table 13: Eastern Europe Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 14: Eastern Europe Market Value (US$ Million) Forecast by Solutions , 2019 to 2034
Table 15: Eastern Europe Market Value (US$ Million) Forecast by Industry , 2019 to 2034
Table 16: South Asia and Pacific Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 17: South Asia and Pacific Market Value (US$ Million) Forecast by Solutions , 2019 to 2034
Table 18: South Asia and Pacific Market Value (US$ Million) Forecast by Industry , 2019 to 2034
Table 19: East Asia Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 20: East Asia Market Value (US$ Million) Forecast by Solutions , 2019 to 2034
Table 21: East Asia Market Value (US$ Million) Forecast by Industry , 2019 to 2034
Table 22: Middle East and Africa Market Value (US$ Million) Forecast by Country, 2019 to 2034
Table 23: Middle East and Africa Market Value (US$ Million) Forecast by Solutions , 2019 to 2034
Table 24: Middle East and Africa Market Value (US$ Million) Forecast by Industry , 2019 to 2034
Figure 1: Global Market Value (US$ Million) by Solutions, 2024 to 2034
Figure 2: Global Market Value (US$ Million) by Industry, 2024 to 2034
Figure 3: Global Market Value (US$ Million) by Region, 2024 to 2034
Figure 4: Global Market Value (US$ Million) Analysis by Region, 2019 to 2034
Figure 5: Global Market Value Share (%) and BPS Analysis by Region, 2024 to 2034
Figure 6: Global Market Y-o-Y Growth (%) Projections by Region, 2024 to 2034
Figure 7: Global Market Value (US$ Million) Analysis by Solutions, 2019 to 2034
Figure 8: Global Market Value Share (%) and BPS Analysis by Solutions, 2024 to 2034
Figure 9: Global Market Y-o-Y Growth (%) Projections by Solutions, 2024 to 2034
Figure 10: Global Market Value (US$ Million) Analysis by Industry, 2019 to 2034
Figure 11: Global Market Value Share (%) and BPS Analysis by Industry, 2024 to 2034
Figure 12: Global Market Y-o-Y Growth (%) Projections by Industry, 2024 to 2034
Figure 13: Global Market Attractiveness by Solutions, 2024 to 2034
Figure 14: Global Market Attractiveness by Industry, 2024 to 2034
Figure 15: Global Market Attractiveness by Region, 2024 to 2034
Figure 16: North America Market Value (US$ Million) by Solutions, 2024 to 2034
Figure 17: North America Market Value (US$ Million) by Industry, 2024 to 2034
Figure 18: North America Market Value (US$ Million) by Country, 2024 to 2034
Figure 19: North America Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 20: North America Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 21: North America Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 22: North America Market Value (US$ Million) Analysis by Solutions, 2019 to 2034
Figure 23: North America Market Value Share (%) and BPS Analysis by Solutions, 2024 to 2034
Figure 24: North America Market Y-o-Y Growth (%) Projections by Solutions, 2024 to 2034
Figure 25: North America Market Value (US$ Million) Analysis by Industry, 2019 to 2034
Figure 26: North America Market Value Share (%) and BPS Analysis by Industry, 2024 to 2034
Figure 27: North America Market Y-o-Y Growth (%) Projections by Industry, 2024 to 2034
Figure 28: North America Market Attractiveness by Solutions, 2024 to 2034
Figure 29: North America Market Attractiveness by Industry, 2024 to 2034
Figure 30: North America Market Attractiveness by Country, 2024 to 2034
Figure 31: Latin America Market Value (US$ Million) by Solutions, 2024 to 2034
Figure 32: Latin America Market Value (US$ Million) by Industry, 2024 to 2034
Figure 33: Latin America Market Value (US$ Million) by Country, 2024 to 2034
Figure 34: Latin America Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 35: Latin America Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 36: Latin America Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 37: Latin America Market Value (US$ Million) Analysis by Solutions, 2019 to 2034
Figure 38: Latin America Market Value Share (%) and BPS Analysis by Solutions, 2024 to 2034
Figure 39: Latin America Market Y-o-Y Growth (%) Projections by Solutions, 2024 to 2034
Figure 40: Latin America Market Value (US$ Million) Analysis by Industry, 2019 to 2034
Figure 41: Latin America Market Value Share (%) and BPS Analysis by Industry, 2024 to 2034
Figure 42: Latin America Market Y-o-Y Growth (%) Projections by Industry, 2024 to 2034
Figure 43: Latin America Market Attractiveness by Solutions, 2024 to 2034
Figure 44: Latin America Market Attractiveness by Industry, 2024 to 2034
Figure 45: Latin America Market Attractiveness by Country, 2024 to 2034
Figure 46: Western Europe Market Value (US$ Million) by Solutions, 2024 to 2034
Figure 47: Western Europe Market Value (US$ Million) by Industry, 2024 to 2034
Figure 48: Western Europe Market Value (US$ Million) by Country, 2024 to 2034
Figure 49: Western Europe Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 50: Western Europe Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 51: Western Europe Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 52: Western Europe Market Value (US$ Million) Analysis by Solutions, 2019 to 2034
Figure 53: Western Europe Market Value Share (%) and BPS Analysis by Solutions, 2024 to 2034
Figure 54: Western Europe Market Y-o-Y Growth (%) Projections by Solutions, 2024 to 2034
Figure 55: Western Europe Market Value (US$ Million) Analysis by Industry, 2019 to 2034
Figure 56: Western Europe Market Value Share (%) and BPS Analysis by Industry, 2024 to 2034
Figure 57: Western Europe Market Y-o-Y Growth (%) Projections by Industry, 2024 to 2034
Figure 58: Western Europe Market Attractiveness by Solutions, 2024 to 2034
Figure 59: Western Europe Market Attractiveness by Industry, 2024 to 2034
Figure 60: Western Europe Market Attractiveness by Country, 2024 to 2034
Figure 61: Eastern Europe Market Value (US$ Million) by Solutions, 2024 to 2034
Figure 62: Eastern Europe Market Value (US$ Million) by Industry, 2024 to 2034
Figure 63: Eastern Europe Market Value (US$ Million) by Country, 2024 to 2034
Figure 64: Eastern Europe Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 65: Eastern Europe Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 66: Eastern Europe Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 67: Eastern Europe Market Value (US$ Million) Analysis by Solutions, 2019 to 2034
Figure 68: Eastern Europe Market Value Share (%) and BPS Analysis by Solutions, 2024 to 2034
Figure 69: Eastern Europe Market Y-o-Y Growth (%) Projections by Solutions, 2024 to 2034
Figure 70: Eastern Europe Market Value (US$ Million) Analysis by Industry, 2019 to 2034
Figure 71: Eastern Europe Market Value Share (%) and BPS Analysis by Industry, 2024 to 2034
Figure 72: Eastern Europe Market Y-o-Y Growth (%) Projections by Industry, 2024 to 2034
Figure 73: Eastern Europe Market Attractiveness by Solutions, 2024 to 2034
Figure 74: Eastern Europe Market Attractiveness by Industry, 2024 to 2034
Figure 75: Eastern Europe Market Attractiveness by Country, 2024 to 2034
Figure 76: South Asia and Pacific Market Value (US$ Million) by Solutions, 2024 to 2034
Figure 77: South Asia and Pacific Market Value (US$ Million) by Industry, 2024 to 2034
Figure 78: South Asia and Pacific Market Value (US$ Million) by Country, 2024 to 2034
Figure 79: South Asia and Pacific Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 80: South Asia and Pacific Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 81: South Asia and Pacific Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 82: South Asia and Pacific Market Value (US$ Million) Analysis by Solutions, 2019 to 2034
Figure 83: South Asia and Pacific Market Value Share (%) and BPS Analysis by Solutions, 2024 to 2034
Figure 84: South Asia and Pacific Market Y-o-Y Growth (%) Projections by Solutions, 2024 to 2034
Figure 85: South Asia and Pacific Market Value (US$ Million) Analysis by Industry, 2019 to 2034
Figure 86: South Asia and Pacific Market Value Share (%) and BPS Analysis by Industry, 2024 to 2034
Figure 87: South Asia and Pacific Market Y-o-Y Growth (%) Projections by Industry, 2024 to 2034
Figure 88: South Asia and Pacific Market Attractiveness by Solutions, 2024 to 2034
Figure 89: South Asia and Pacific Market Attractiveness by Industry, 2024 to 2034
Figure 90: South Asia and Pacific Market Attractiveness by Country, 2024 to 2034
Figure 91: East Asia Market Value (US$ Million) by Solutions, 2024 to 2034
Figure 92: East Asia Market Value (US$ Million) by Industry, 2024 to 2034
Figure 93: East Asia Market Value (US$ Million) by Country, 2024 to 2034
Figure 94: East Asia Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 95: East Asia Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 96: East Asia Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 97: East Asia Market Value (US$ Million) Analysis by Solutions, 2019 to 2034
Figure 98: East Asia Market Value Share (%) and BPS Analysis by Solutions, 2024 to 2034
Figure 99: East Asia Market Y-o-Y Growth (%) Projections by Solutions, 2024 to 2034
Figure 100: East Asia Market Value (US$ Million) Analysis by Industry, 2019 to 2034
Figure 101: East Asia Market Value Share (%) and BPS Analysis by Industry, 2024 to 2034
Figure 102: East Asia Market Y-o-Y Growth (%) Projections by Industry, 2024 to 2034
Figure 103: East Asia Market Attractiveness by Solutions, 2024 to 2034
Figure 104: East Asia Market Attractiveness by Industry, 2024 to 2034
Figure 105: East Asia Market Attractiveness by Country, 2024 to 2034
Figure 106: Middle East and Africa Market Value (US$ Million) by Solutions, 2024 to 2034
Figure 107: Middle East and Africa Market Value (US$ Million) by Industry, 2024 to 2034
Figure 108: Middle East and Africa Market Value (US$ Million) by Country, 2024 to 2034
Figure 109: Middle East and Africa Market Value (US$ Million) Analysis by Country, 2019 to 2034
Figure 110: Middle East and Africa Market Value Share (%) and BPS Analysis by Country, 2024 to 2034
Figure 111: Middle East and Africa Market Y-o-Y Growth (%) Projections by Country, 2024 to 2034
Figure 112: Middle East and Africa Market Value (US$ Million) Analysis by Solutions, 2019 to 2034
Figure 113: Middle East and Africa Market Value Share (%) and BPS Analysis by Solutions, 2024 to 2034
Figure 114: Middle East and Africa Market Y-o-Y Growth (%) Projections by Solutions, 2024 to 2034
Figure 115: Middle East and Africa Market Value (US$ Million) Analysis by Industry, 2019 to 2034
Figure 116: Middle East and Africa Market Value Share (%) and BPS Analysis by Industry, 2024 to 2034
Figure 117: Middle East and Africa Market Y-o-Y Growth (%) Projections by Industry, 2024 to 2034
Figure 118: Middle East and Africa Market Attractiveness by Solutions, 2024 to 2034
Figure 119: Middle East and Africa Market Attractiveness by Industry, 2024 to 2034
Figure 120: Middle East and Africa Market Attractiveness by Country, 2024 to 2034
The market is expected to reach USD 15,149.8 million in 2024.
The market is set to expand by a CAGR of 5.8% by 2034.
The market is forecast to reach USD 26,688.0 million by 2034.
India is to be the top performing market, with a CAGR of 7.6% through 2034.
Big data analytics segment is preferred, and is expected to account for a share of 23.3% in 2024.
Explore Digital Transformation Insights
Thank you!
You will receive an email from our Business Development Manager. Please be sure to check your SPAM/JUNK folder too.