(MENAFN- America News Hour) In a recent published report, Kenneth Research has updated the market report for Data Analytics for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
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U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Data Analytics products.
Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further projected to touch USD 6 million by 2023
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As per the recent market research reports, the Data Analytics Market is expected to grow at a CAGR of 30.08% by reaching the estimation of USD 77.64 Billion during the forecast period (2017-2023). The report delivers all the market facts along with the market trends, correlating between the market forecast and market dynamics. In this report, the user can also get an in-depth analysis of the market on the basis of its type, application, solution, industry, organization size, deployment, and global regions. The report even covers the market dynamics including opportunities, trends, drivers, and restraint factors, that are highly influencing the key market segments and its growth pattern.
Market Segmentation
Based on its type, the Data Analytics Market has been divided into prescriptive analytics, predictive analytics, customer analytics, and descriptive analytics. By solution, the Data Analytics Market has been classiied into fraud & security intelligence, data management, data visualization, data mining, and data monitoring. Again, on the basis of its application, the market has been bifurcated into supply chain management, enterprise resource planning, database management, human resource management, and others. All these major segments are profiled under the six major geographical regions including South America, North America, Asia Pacific, Europe, the Middle East & Africa (MEA) and the Rest of the World, with their respective global region market sizes.
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Key Players
The major industry players of the Data Analytics Market include prominent names like Microsoft Corporation (U.S.), Amazon Web Services Inc. (U.S.), SAP SE (U.S.), Oracle Corporation (U.S.), Dell Inc. (U.S.), SAS Institute Inc. (U.S.), Alteryx, Inc. (U.S.), Looker Data Sciences, Inc. (U.S.), Datameer Inc. (U.S.), and IBM Corporation (U.S.).
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Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation
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Darlene Dooley
Darlene Dooley is a research expert and freelance writer. She is very dedicated towards her work and writing. She enjoys to write on current news on any industry and conclude the news with highly professional report. She has almost 8 years of experience in the same field. She has strong professional skill in Market research, Business Strategies, online marketing, Industry analysis interested in innovative and trending technologies.
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