Operational Analytics Market Size Research Study, Competitive Landscape and Potential of Market from 2019-2027 | COVID-19 Effects

Operational Analytics Market Size Research Study, Competitive Landscape and Potential of Market from 2019-2027 | COVID-19 Effects


Operational Analytics Market Size

Market Highlights

The global operational analytics market will touch USD 9 billion at an 18% CAGR in the forecast period (2020- 2027), states the latest Market Research Future (MRFR) report.

Drivers

Rise in Data Centers to Boost Market Growth

The growing number of data centers for gathering inner data to analyze the performance of marketing department will boost market growth over the forecast period.

Opportunities

Increased Adoption of IoT to offer Robust Opportunities

The increased adoption of internet of things for process and operations optimization will offer robust opportunities for the market over the forecast period.

Restraints

Lack of Skilled Professionals to act as Market Restraint

The lack of skilled professionals or trained personnel and complex analytical process may act as market restraint over the forecast period.

Challenges

Organizational Change to act as Market Challenge

Organizational change and managing data quality and security may act as market challenge over the forecast period.

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Segmentation:

  • The operational analytics market has been bifurcated based on type, deployment, vertical, and application.
  • By application, the operational analytics market is segmented into fraud detection and customer management.
  • By vertical, the operational analytics market is segmented into financial services and energy and utilities.
  • By type, the operational analytics market is segmented into services and software.
  • By deployment, the operational analytics market is segmented into on-premise and on-cloud.

COVID-19 Analysis

The people during the lockdown have increased the use of digital media and social media more than the pre-lockdown period. Companies at the time of the pandemic have enabled their employees in working from home that has fuelled the usage of platforms like Microsoft Teams. The rising data traffic due to the emergence of IoT technologies and big data has propelled the growth of the operational analytics market. Besides, the growing need for on-cloud deployment of technologies is also accountable for the growth of the market. On-cloud deployment supports remotely working people to operate from any location by offering access to the needed data. The vital application of operational analytics for effective customer management & fraud detection has fueled market growth.

Regional Analysis

North America to Sway Operational Analytics Market

North America will sway the market over the forecast period. The presence of properly established basic infrastructure that helps in faster implementation of advanced and latest technologies, the real growth of IT operational information, rising need for upcoming and latest IT operational analytics modern solutions, large base of companies that are deploying operational analytics solutions either on their premises or as on-demand service, the presence of developed economies of Canada and the US, high focus on innovations obtained from technology and research and development, the presence of robust IT infrastructure, highest revenue generating regions, and sophisticated database management systems are adding to the global operational analytics market growth in the region.

Key Players

Key industry players profiled in the global operational analytics market report include IBM Corporation (US),Oracle Corporation (US), Microsoft Corporation (US), SAS Institute (US), Hewlett Packard Enterprise (US), SAP SE (Germany), Alteryx (US)., Cloudera (US), Bentley Systems (US), Splunk (US) among others.

The global operational analytics market is fragmented and also competitive for the presence of different international & domestic key players. These players have incorporated innovative strategies to remain at the vanguard and also suffice the burgeoning demand of the customers including collaborations, contracts, partnerships, joint ventures, geographic expansions, & new product launches and more.

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Global Operational Analytics Market Research Report, By Application (Customer Management, Fraud Detection), by Vertical (Energy & Utilities, Financial Services), by Type (Software, Services) by Deployment (On-Cloud, On-Premise) — Forecast till 2027

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