Embedded Analytics Market Overview:
The embedded analytics market refers to the industry that focuses on integrating data analytics capabilities directly into business applications, software, or systems. Embedded analytics enables users to access and analyze data within the context of their daily workflows, without the need to switch to separate analytics tools or platforms. Here's an overview of the embedded analytics market.
The global embedded analytics market size is substantial and expected to grow further. According to reports, the market was valued at around $29.7 billion in 2020 and is projected to reach over $108.9 billion by 2030, with a compound annual growth rate (CAGR) of over 14.80% during the forecast period.
The embedded analytics market has been experiencing significant growth in recent years. The increasing demand for data-driven decision-making, improved user experiences, and the need for real-time insights within applications are driving the market's expansion.
Key Players:
The embedded analytics market is competitive, with numerous software vendors and business intelligence providers offering embedded analytics solutions. Some prominent players in the market include,
- Microsoft Corporation (US.)
- IBM (US.)
- Oracle Corporation (US.)
- MicroStrategy Incorporated (US.)
- Tableau Software (US.)
- TIBCO Software (US.)
- SAP SE (Germany)
- SAS Institute (US.)
- Birst (US.)
- Logi Analytics (US.)
- Oracle Corporation (US.)
- Tableau Software (US.)
- TIBCO Software (US.)
- Birst (US.)
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Emerging Trends
- Augmented Analytics: Embedded analytics is integrating advanced analytics capabilities, such as natural language processing (NLP) and machine learning, to enable augmented analytics, where the system automatically provides insights and recommendations to users.
- Self-Service Analytics: Embedded analytics solutions are increasingly offering self-service capabilities, empowering users to explore and analyze data independently, without heavy reliance on IT or data teams.
- Mobile Embedded Analytics: With the rise of mobile applications, embedded analytics is extending its reach to mobile platforms, enabling users to access data and insights on their mobile devices.
- Embedded AI and Automation: Embedding artificial intelligence (AI) and automation capabilities into analytics solutions enhances data processing, pattern recognition, and predictive analytics within applications.
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Key Factors Driving the Market:
- Enhanced Decision-Making: Embedded analytics empowers users by providing actionable insights and real-time data within the context of their workflows, enabling informed decision-making.
- Improved User Experience: By embedding analytics directly into applications, users can access data and perform analysis seamlessly, eliminating the need to switch between multiple tools or interfaces.
- Operational Efficiency: Embedded analytics streamlines workflows and eliminates the need for manual data extraction and analysis, resulting in improved productivity and efficiency.
- Data Democratization: Embedding analytics capabilities into applications makes data accessible to a broader range of users, empowering them to explore and analyze data independently.
- Competitive Advantage: Organizations that embed analytics into their applications can differentiate themselves by providing data-driven insights and value-added features to their customers.
Market Segmentation: The embedded analytics market can be segmented based on various factors, including deployment mode, component, application, industry vertical, and geography.
- Deployment Mode: Segments include on-premises, cloud-based, and hybrid deployments.
- Component: Segments include software tools, platforms, and services (consulting, support, maintenance, and training).
- Application: Segments include customer-facing applications, internal applications, and partner-facing applications.
- Industry Vertical: Segments include healthcare, finance, retail, manufacturing, IT and telecommunications, transportation, and others.
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Embedded Analytics Companies
https://www.marketresearchfuture.com/reports/embedded-analytics-market/companies
The embedded analytics market is poised for growth as organizations recognize the value of embedding analytics capabilities directly into their applications, enabling users to leverage data for better decision-making and improved user experiences.
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