The Europe Advanced Analytics Market would witness market growth of 22.1% CAGR during the forecast period (2021-2027).
Several industries and industry verticals, comprising BFSI, energy & utilities, and IT & telecom are deploying brand-new analytics for precise and uninterrupted data processing and fast decision making to maintain their competitive edge in the market. The increase in utilizing the analytical solutions for trade promotion optimization, behavior analytics, and demand forecasting, mainly in industries like the retail industry, is becoming a key factor, which is fueling the market growth.
Advanced analytics techniques are also used in the financial and banking sector to improve processes followed by banks, manage risks, and reduce scams. To protect customers from churn, the telecom sector is using analytics techniques, which will minimize the churn by specific marketing programs for particular customers. These analytics are also used in the healthcare industry to detect & manage scams and enhance clinical performance. In addition, analytics is very useful in retail companies to understand the buyer’s behavior and accordingly specialize their planning and establish market position.
The utilization of advanced analytics assists in making informed decisions rapidly enhances processes, and assists in recognizing opportunities, which acts as a key trend boosting the growth of the European advanced analytics market. Furthermore, as the number of people using social media in the region is constantly surging would act as a key driver for the growth of the advanced analytics market.
Moreover, the region is witnessing high demand for big data because of the surge in cloud services, increasing generation of the data, and huge demand for data analytics. Besides, the growth of the regional advanced analytics market would be boosted by the high amount of preference given to the sophisticated technologies combined with business intelligence and analytics. These factors are likely to create new and lucrative growth opportunities for the regional advanced analytics market during the forecast period.
The Germany market dominated the Europe Cloud Advanced Analytics Market by Country 2020, thereby, achieving a market value of $1,718.9 million by 2027. The UK market is showcasing a CAGR of 22.5% during (2021 - 2027). Additionally, The France market is poised to grow at a CAGR of 24.3% during (2021 - 2027).
Based on Type, the market is segmented into Big Data Analytics, Business Analytics, Customer Analytics, Risk Analytics, Statistical Analysis and Others. Based on Deployment Type, the market is segmented into On-premise and Cloud. Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on End User, the market is segmented into BFSI, IT & Telecom, Military & Defense, Healthcare, Government and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Advanced Analytics Market Size will Hit $56.2 Billion by 2027, at a CAGR of 23.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include SAS Institute, Inc., SAP SE, IBM Corporation, Oracle Corporation, Dell Technologies, Inc., Microsoft Corporation, RapidMiner, Inc., Altair Engineering, Inc., Fair Isaac Corporation (FICO), and KNIME AG
By Type
By Deployment Type
By Enterprise Size
By End-User
By Country
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