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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Embedded Analytics Market Size
The global embedded analytics market size reached a value of USD 61.97 billion in 2023. The market for embedded analytics is further expected to grow at a CAGR of 14.1% between 2024 and 2032 to reach a value of around USD 203.11 billion by 2032.
News and Developments in the Market
In September 2021, in order to speed up the wider use of analytics and data science capabilities, TIBCO Software Inc., a pioneer in enterprise data management, recently announced a number of improvements to its Predict portfolio . With the help of the product updates for TIBCO Spotfire®, TIBCO WebFOCUS®, TIBCO® Data Science, and TIBCO® Streaming, organisations will be better able to evaluate their data and make predictions about the future.
The goal of these recent improvements is to enable everyone to take advantage of the boundless power of data and produce insights as quickly as they can be thought of. They are anticipated to be immersive, intelligent, and real-time. These kinds of technological advancements are driving the global embedded analytics market.
In April 2021, significant storage portfolio updates from IBM Corporation were announced to improve data management and access in hybrid cloud scenarios that are becoming ever-more complicated. Additionally, IBM Corporation stated that it would introduce IBM Spectrum Fusion, a container native SDS solution, in the second half of 2021.
The solution will make data accessible to enterprises and their applications in data centres, on the edge, and in hybrid cloud environments simpler by utilising data protection software and IBM's universal parallel file system technology.
In July 2020, The Madison, Wisconsin-based company Healthfinch, Inc., which offers a workflow integration engine that integrates analytics into EMR workflows to automate the physicians' ability to close patient care gaps in real-time, announced that it has reached a definitive agreement to be acquired by Health Catalyst, Inc., a leading provider of data and analytics technology and services to healthcare organisations.
The Health Catalyst Population Health portfolio will be strengthened by the healthfinch purchase, which will enable Health Catalyst's customers to improve clinical workflows in the EMR. EMR Embedded Insights, a new application suite category within the Health Catalyst analytics application umbrella, will include Healthfinch. Applications for filling prescriptions, scheduling visits, and closing care gaps will all remain accessible in their current form. Such growing mergers, acquisitions, and partnerships are aiding the embedded analytics market demand.
Embedded Analytics Market Report Snapshots
Embedded Analytics Market Size
Embedded Analytics Market Trends
Embedded Analytics Market Growth
Embedded Analytics Market Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market for embedded analytics attained a value of nearly USD 61.97 billion.
The market is projected to grow at a CAGR of 14.1% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 203.11 billion by 2032.
The major drivers of the market include the high penetration of the internet, surge in need for better data management, growing amount of business data and Bring Your Own Device (BYOD) across numerous industries, shift from traditional business intelligence (BI) techniques to advanced BI, increasing adoption of data modernisation technologies and the rising utilisation of embedded analytics in the BFSI and manufacturing sector.
The rise in data-driven organisations and growing implementation of self-service analytics are the key industry trends aiding the growth of the market.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The several components in the market are software and services.
Based on deployment, the market is divided into on premises and cloud-based.
On the basis of size of organisation, the market is segmented into large enterprises and small and medium enterprises.
The major industries in the market are BFSI, retail, media and entertainment, healthcare, manufacturing, IT and telecommunication, among others.
Leveraging embedded analytics helps the organisations in creating a more compelling, competitive customer experience which is a top priority for today's businesses.
The key players in the industry are IBM Corporation, Open Text Corporation, Microsoft Corporation, SAP SE, TIBCO Software, Inc., and Sisense Inc., among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124