According to a new report, published by KBV research, The Global Data Analytics Market size is expected to reach $301.8 billion by 2030, rising at a market growth of 26.8% CAGR during the forecast period.
The Customer Analytics segment is showcasing a CAGR of 27.1% during (2023 - 2030). Retail use customer insights to develop individualized communications and marketing initiatives. The retail sector's expansion has been driven by consumers' rising need for an omnichannel experience. Well-known businesses like Amazon and Walmart have benefited from the advantages of numerous social media platforms like Facebook. This segment is anticipated to expand as more retail companies concentrate on offering their clients omnichannel offerings with the help of customer analytics.
The Supply Chain Management segment is leading the Global Data Analytics Market by Application in 2022 thereby, achieving a market value of $88.2 billion by 2030. Through effective production planning, data analytics in supply chain management aids businesses in maximizing revenues. Implementing data analytics in supply chain management promotes the use of cutting-edge technologies like artificial intelligence and machine learning to elucidate hidden patterns and derive useful insights from the data currently available in the supply chain.
The Data Mining segment has shown the growth rate of 27.1% during (2023 - 2030). Data mining is utilized in many different applications, including marketing, banking, healthcare, the telecom sector, and other fields, which is why the segment is expanding. Manufacturing and service businesses profit from data mining since it allows for analyzing any sizable amount of data to aid in critical business decisions that will provide the company with a competitive advantage. To upsell and cross-sell their items, several e-commerce sites employ data mining. To identify the product's lowest price, for example, Amazon.com, Inc.
The North America market dominated the Global Data Analytics Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $101.8 billion by 2030. The Europe market is exhibiting a CAGR of 26.3% during (2023 - 2030). Additionally, The Asia Pacific market would showcase a CAGR of 27.7% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/data-analytics-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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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