Operational Analytics Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025
The global operational analytics market is prognosticated to showcase a high potential for growth in the forthcoming years on the back of decisive factors such as the dominating advent of Internet of things (IoT)-enabled devices. The growth of the global operational analytics market could be on account of the rise in demand for cloud-based arrangements. Trouble-free maintenance and optimal cost could be some of the critical advantages augmenting the deployment of cloud-based services across several industries.
Due to the emerging status of the global operational analytics market, the competition is anticipated to be on the lower side with less exit and entry barriers. However, the control of the competitive landscape of the global operational analytics market could be in the hands of niche companies that deliver dedicated IoT analytics platform. Players operating in the global operational analytics market are expected to be advantaged with the multiplying prevalence of the IoT sector. Operational analytics could be implemented in IoT for fetching productive data and offering sophisticated features in IoT-enabled devices to obtain better outcomes.
More opportunities are prophesied to take shape in the global operational analytics market with the mounting development of connected devices and newer technologies such as edge analytics and platform as a service (PaaS). A host of business utilities could snowball the demand in the global operational analytics market, including human resource, finance, sales, and marketing. On the other hand, top verticals such as transportation and logistics, energy and utilities, manufacturing, retail, financial services, healthcare, and government could intensify the growth of the global operational analytics market.
The rising digitization levels in numerous industries on account of technological advancements are slated to fuel the demand for operational analytics to a great extent over the next few years. Operational analytics is a technological tool for industries to enhance their efficiency through boosting transactions, growing competitive spirit, eliminating the risk of fraudulent processes, and improving decision-making capacities.
The key market factors such as trends, growth opportunities, restraints, and drivers are analyzed in the report, together with factors such as technological advancements in the field of operational analytics, market forecast, and value chain analysis. The segments and sub-segments of the global operational analytics market have been studied, along with the present and projected leading market segments and their growth drivers. The major market players have been discussed, wherein their key business strategies, product portfolios, and market shares have been revealed. The report also includes strategic recommendations for companies.
The major factors responsible for the growth of the global operational analytics market include growing need for process and operations optimization and their control, popularity of Internet of Things (IoT), and rising demand for sophisticated data management. The growth of the IT sector, which has been adopting operational analytics to a considerable extent, is also one of the key drivers in the global operational analytics market.
On account of their cost and time efficiency, on-demand operational analytics have been exhibiting high demand. Small and medium sized enterprises, in particular, have been adopting these low-cost solutions. There has been a significant expansion in demand chiefly originating from marketing, human resources (HR), information technology (IT), and sales and finance, among many others, providing a further boost to operational analytics over the globe.
On the contrary, inability to tackle third-party data sources, absence of government support, insufficient number of skilled personnel, and high costs of initial installations have been the key challenges.
The manufacturing segment will expand significantly during the forecast period, ensuring the growth of the overall market. This opportunity has arisen on account of the competitive advantages offered by operational analytics, enhancing the levels of efficiency throughout the life-cycle of a product. On the basis of business function the marketing business function is expected to exhibit substantial demand.
Based on geography, the global market for operational analytics can be segmented into Europe, North America, Latin America, Asia Pacific, and the Middle East and Africa. The operational analytics market in North America accounted for a considerable share in the global scenario. High adoption of operational analytics at an early stage and technological progress in the field of operational analytics market have been contributing towards the expansion of the operational analytics market in North America. The U.K. is perhaps the most noteworthy market in Europe because of advanced use of data, coupled with increased C-level banking.
Asia Pacific will exhibit significant demand for operational analytics over the coming years, due to increasing adoption of technology, high rate of urbanization, and emergence of several end-user industries in the region.
The major companies operating in the global market for operational analytics include SAP SE, SAS Institute, Microsoft Corporation, Bentley Systems, HPE, and IBM Corporation. Companies that are able to keep pace with the latest developments will gain large amounts of profit, while those who fail to do so will experience diminished growth prospects.
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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