The Latin America, Middle East and Africa Data Analytics Market would witness market growth of 29.9% CAGR during the forecast period (2023-2030).
The market is anticipated to grow as more forecasting applications, including those for healthcare data, research analysis, trade markets, and traffic trend forecasts, employ data analytics tools more frequently. Demand forecasting using data analytics can assist businesses in making wise decisions and increasing profitability. The growing need for business intelligence and big data tools has recently been driven by investments made by government organizations and sectors, including banking, e-commerce, and IT services.
The e-commerce industry improves customers' traditional purchasing experiences. The most important aspects in boosting a company's sales are customer service analytics and email campaigns specifically designed for online/social media advertising. Retailers prioritize real-time research of consumer purchase behavior due to the rising prevalence of connected devices. In order to increase customer retention, customized offers can be made using the findings of real-time analysis.
The UAE places high in terms of its human resources & labor market, safety and security conditions, and ICT readiness. As a result, the nation has favorable conditions for growth and investment in T&T. Additionally, because of major corporate and public investments, low regional pricing, and a favorable geographic location supported by first-rate infrastructure, the food processing industry in the United Arab Emirates is growing. Since it hosts millions of visitors daily, the hospitality business must prioritize data analytics as each has a unique set of travel requirements, expectations, and preferences. Therefore, the rapidly expanding hospitality sector will fuel the demand for data analytics tools, boosting the expansion of the market.
The Brazil market dominated the LAMEA Data Analytics Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $5,984.1 million by 2030. The Argentina market is experiencing a CAGR of 30.6% during (2023 - 2030). Additionally, The UAE market would showcase a CAGR of 29.5% during (2023 - 2030).
Based on Type, the market is segmented into Predictive Analytics, Customer Analytics, Descriptive Analytics, Prescriptive Analytics and Others. Based on Application, the market is segmented into Supply Chain Management, Enterprise Resource Planning, Database Management, Human Resource Management and Others. Based on Solution, the market is segmented into Security Intelligence, Data Management, Data Monitoring and Data Mining. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Data Analytics Market is Projected to reach USD 301.8 Billion by 2030, at a CAGR of 26.8%
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., IBM Corporation, Google LLC (Alphabet Inc.), Mu Sigma, Inc., Oracle Corporation, SAP SE, Sisense Inc, Microsoft Corporation, ThoughtSpot Inc. and Zoho Corporation Pvt. Ltd.
By Type
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