According to a new report, published by KBV research, The Global Data Mining Tools Market size is expected to reach $2.3 billion by 2030, rising at a market growth of 12.8% CAGR during the forecast period.
The Services segment would showcase a CAGR of 13.7% during (2023 - 2030). Data mining services offer several advantages for businesses and organizations seeking to extract valuable insights, patterns, and knowledge from their data. These services provide organizations with the means to extract meaningful insights from their data, leading to better decision-making, improved operations, enhanced customer experiences, and a competitive advantage in today's data-driven landscape.
The Supply Chain & Procurement segment is generating the highest revenue in the Global Data Mining Tools Market by Application in 2022; thereby, achieving a market value of $699 million by 2030. Data mining solutions aid in the early identification of bottleneck faults and boost the effectiveness of numerous activities throughout the supply chain operations. To improve the quality of customer services, it is important to quickly identify the task creating delays.
The Small & Medium Enterprises segment would obtain a CAGR of 15% during (2023 - 2030). The tools provide such enterprises with insights that can enhance their supply chain efficiency, introduce new marketing strategies, or combat a variety of data threats. Therefore, the market segment is projected to be driven by the expanding number of small and medium-sized businesses.
The On premise segment is leading the Global Data Mining Tools Market by Deployment Type in 2022; thereby, achieving a market value of $1.3 billion by 2030. On-premise implementation of data mining tools offers companies operating in heavily regulated industries, such as healthcare and finance, better control and protection over data. Additionally, organizations can tailor the program to their particular requirements and integrate it with their existing IT infrastructure.
The BFSI segment is registering a CAGR of 12.5% during (2023 - 2030). The BFSI firms deal with credit, collection, and fraud detection management in their daily financial operations. Additionally, the BFSI sector deals with vast quantities of client and transactional data from numerous sources. BFSI companies are anxious to develop customer-friendly digital solutions and software platforms to better serve their clients.
The North America region dominated the Global Data Mining Tools Market by Region in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $834.5 million by 2030. The Europe market is poised to grow at a CAGR of 12.4% during (2023 - 2030). Additionally, The Asia Pacific market would witness a CAGR of 13.7% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/data-mining-tools-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 Oracle Corporation, IBM corporation, KNIME AG, Altair Engineering, Inc. (IMG Companies, LLC), Microsoft Corporation, Sisense, Inc., Google, LLC (Kaggle Inc.), SAS Institute, Inc., SAP SE and Teradata Corporation.
By Component
By Application
By Enterprise Size
By Deployment Type
By End-use
By Geography
Companies Profiled
Unique Offerings 
