The Europe Big Data and Business Analytics Market would witness market growth of 12.2% CAGR during the forecast period (2021-2027).
Advanced analytics refers to the process of evaluating the business datasets with the help of advanced techniques and tools. Techniques such as data simulation, optimization, and mining are used for descriptive, predictive, and statistics data to provide knowledge to deal with business intelligence (BI). It provides broad and in-depth analytics that are anticipated to deliver organizations a better understanding of their information.
Nowadays, the social media platforms are witnessing high popularity, which is providing internet vendors abundant data and information. Conventional analytics techniques and tools fail to identify hidden patterns in data whereas advanced business analytics tools support companies in extracting the hidden information, that is later used to give more knowledge about their customers’ behavior. In addition, advanced analytics also help companies in customizing their offerings as per customers’ demand by utilizing the extracted information.
The utilization of big data and business analytics solutions assists in making informed business decisions that rapidly enhance business processes, and also assists in recognizing opportunities, which would act as key driving factors for the European big data and business analytics market. Additionally, as the number of people using social media in the region is constantly surging, the demand for these solutions would also increase in the coming years.
Moreover, the region is witnessing high demand for big data because of the surge in cloud services, high generation of the data, and huge demand for data analytics. Besides, the growth of the regional big data and business analytics market would witness a surge due to the increasing 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 big data and business analytics market during the forecast period.
The Germany market dominated the Europe Healthcare Big Data and Business Analytics Market by Country 2020, thereby, achieving a market value of $3238.7 million by 2027, growing at a CAGR of 11.8 % during the forecast period. The UK market is exhibiting a CAGR of 12.1% during (2021 - 2027). Additionally, The France market is anticipated to witness a CAGR of 13.7% during (2021 - 2027).
Based on Component, the market is segmented into Services, Software and Hardware. Based on Analytics Tool, the market is segmented into Dashboard & Data Visualization, Self-Service Tools, Data Mining & Warehousing, Reporting, and Others. Based on Deployment Type, the market is segmented into On-premise and Cloud. Based on Application, the market is segmented into Customer Analytics, Marketing Analytics, Risk & Credit Analytics, Workforce Analytics, Supply Chain Analytics, and Others. Based on Industry Vertical, the market is segmented into BFSI, IT & Telecom, Healthcare, Retail & eCommerce, Government & Defense, Transportation, Manufacturing, 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 Big Data and Business Analytics Market Size will Hit $448 Billion by 2027, at a CAGR of 13%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Amazon Web Services, Inc., Fair Isaac Corporation, Hewlett Packard Enterprise, IBM Corporation, Microsoft Corporation, Oracle Corporation, SAP SE, SAS Institute Inc., Tibco Software Inc., and Teradata Corporation.
By Component
By Analytics Tool
By Deployment Type
By Application
By Industry Vertical
By Country
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