The Europe Operational Analytics Market would witness market growth of 13.3% CAGR during the forecast period (2024-2031).
The Germany market dominated the Europe Operational Analytics Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $1,819.9 million by 2031. The UK market is exhibiting a CAGR of 12.3% during (2024 - 2031). Additionally, The France market would experience a CAGR of 14.1% during (2024 - 2031).
The integration of IoT and these analytics has brought forth a revolution in asset management and monitoring, allowing companies to track and optimize the performance of physical assets with unprecedented accuracy. According to the Bank’s Digital Progress and Trends Report 2023, in 2022, more than 13 billion IoT devices were in use. Driven largely by the almost real-time connectivity of 5G technology, these devices are expected to more than double between 2023 and 2028.
The rise of cloud technology is another key factor propelling the growth of this market. According to IDC, by 2024, over 90% of enterprises will utilize a mix of private clouds, multiple public clouds, and on-premises infrastructure to support their applications. Cloud-based analytics platforms offer scalability, flexibility, and cost-effectiveness, making them accessible to businesses of all sizes.
This market in France is growing due to the nation’s emphasis on sustainable and efficient business practices. Sectors like energy, transportation, and manufacturing are adopting analytics to optimize resource usage, reduce emissions, and comply with environmental regulations. The French government’s commitment to sustainable industry transformation is evident through policies such as the Energy Transition Law, which encourages companies to adopt greener operations. France’s “Industrie du Futur” initiative also supports industries in modernizing and digitalizing, further driving operational analytics adoption, especially among companies looking to align with environmental goals. Therefore, the region will present lucrative growth opportunities for the market throughout the forecast period.
Free Valuable Insights: The Global Operational Analytics Market will Hit USD 26.4 Billion by 2031, at a CAGR of 13.7%
Based on Type, the market is segmented into Software and Service (Managed Services and Professional Services). Based on Business Function, the market is segmented into Information Technology (IT), Sales & Marketing, Finance, Human Resources (HR), and Other Business Function. Based on Application, the market is segmented into Predictive Asset Maintenance, Risk Management, Fraud Detection, Supply Chain Management, Customer Management, and Other Application. Based on Deployment Model, the market is segmented into Cloud and On-premises. Based on Industry Vertical, the market is segmented into Telecommunication, Retail & Consumer Goods, Manufacturing, Government & Defense, Energy & Utilities, Healthcare, and Other Industry Vertical. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
By Type
By Business Function
By Application
By Deployment Model
By Industry Vertical
By Country
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