The Asia Pacific Data Mining Tools Market would witness market growth of 13.7% CAGR during the forecast period (2023-2030).
Factors influencing the market's expansion include rising public investment for IT infrastructure development, higher acceptance of machine learning technology across different end-user industries, regulatory and compliance demands, the increasing need for producing insights from raw data, and regulatory and compliance demands.
By examining data patterns and converting them into information, data mining technologies enable businesses to extract meaningful information from large data sets containing unprocessed data. Companies that want to gain significant industry momentum utilize data mining managed services. These managed services offer numerous advantages to firms and help them enhance their primary competencies. Managed service providers extract insights from obscure data trends by mining and analysing enterprise data. As a result, they help businesses deliver customer-centric performance and contribute value to their processes.
Data mining enables retail corporations to offer discounts on products, attracting more consumers, which will create novel prospects for the retail industry's market expansion. A rise in demand for artificial intelligence and machine learning technologies is also fuelling the expansion of the market.
In South Korea, the Ministry of Science and ICT ("MSIT"; Minister Lim Hyesook) briefed the public on the outcomes and major achievements of the Digital New Deal over the past year of its implementation and outlined the key policy directions for Digital New Deal 2.0. With the participation of approximately 170,000 domestic businesses, the size of the nation's data sector increased substantially (by more than 14.3%), and 2.2 million Koreans received a variety of digital transformation advantages. The regional market is expected to have growth prospects due to the region's increasing digitalization and the consequent rise in data generation.
The China market dominated the Asia Pacific Data Mining Tools Market by Country in 2022 and would continue to be a dominant market till 2029; thereby, achieving a market value of $187 million by 2030. The Japan market is registering a CAGR of 12.9% during (2023 - 2030). Additionally, The India market would showcase a CAGR of 14.4% during (2023 - 2030).
Based on Component, the market is segmented into Tools (Without Services), and Services. Based on Application, the market is segmented into Supply Chain & Procurement, Marketing, Business Transaction, Intrusion Detection, and Others. Based on Enterprise Size, the market is segmented into Large Enterprises, and Small & Medium Enterprises. Based on Deployment Type, the market is segmented into On premise, and Cloud. Based on End-use, the market is segmented into Telecom & IT, BFSI, Manufacturing, Healthcare & Lifesciences, Retail, Education, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Data Mining Tools Market is Projected to reach USD 2.3 Billion by 2030, at a CAGR of 12.8%
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Oracle Corporation, IBM corporation, KNIME AG, Altair Engineering, Inc. (IMG Companies, LLC), Microsoft Corporation, Sisense, Inc., Google, LLC (Kaggle Inc.), SAS Institute, Inc., SAP SE and Teradata Corporation.
By Component
By Application
By Enterprise Size
By Deployment Type
By End-use
By Country
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