The North America Data Analytics Market would witness market growth of 25.9% CAGR during the forecast period (2023-2030).
The increasing use of artificial intelligence and machine learning to provide more individualized customer experiences and the rise of online shopping are the primary drivers of the expansion of the market. The demand is growing as a result of the emergence of big data analytics, rising cloud technology spending, and massive volumes of data produced by virtual offices. Businesses can use big data analytics to enhance important company objectives, processes, and activities.
Massive databases are anticipated to be created as a result of the industrial revolution, the growing usage of smart apps, and new social media platforms. Social media sites like Facebook, YouTube, Snapchat, Instagram, and others produce a huge amount of data. Growing databases in many industries will hence drive the market.
The American healthcare system is beginning to show hints of improvement in predictive analytics. As datasets get bigger and more difficult to handle, health institutions, including payers, adopt predictive analytics more frequently. The enormous growth prospects for the market in this region can be connected to the presence of numerous noteworthy players there. Through several legislation and initiatives, the federal government, for instance, promotes the utilization of its healthcare data. The Department of Health and Human Services can share information that fosters market transparency in the healthcare and medical insurance sectors under the Affordable Care Act (ACA), the nation's most significant healthcare statute. The market will undoubtedly expand in the upcoming years due to increased R&D activities and the concentration of most regional producers.
The US market dominated the North America Data Analytics Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $56,438.1 million by 2030. The Canada market is poised to grow at a CAGR of 28.7% during (2023 - 2030). Additionally, The Mexico market would witness a CAGR of 27.6% 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 U.S., Mexico, Canada, and Rest of North America.
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.
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