Dark Analytics Market will Reach Nearly USD 2,269.9 Million, Expanding at a CAGR of 24.9% during the Forecast Period of 2028
The Global Dark Analytics market is forecasted to reach USD 2,269.9 Million by 2028, according to a new report by Reports and Data. Data Analytics refers to the use of dark data to analyze and provide insights about customers, markets, and organizations. Dark data refers to the unused digital information. Employees, consumers, and businesses provide various information using sources like social media, IoT, financial transactions, and so on. From the data, relevant information is stored and used by interested users. But a section of unused data; the left behind is referred to as ‘dark’ data. By using machine learning and artificial intelligence, the largely unusable data can be structured and put that in order to make it more usable. The market for dark analytics is influenced by the increasing adoption of dark analytics in the healthcare sector.
The factors mentioned above collectively create opportunities for market growth, while factors such as non-uniformity of data and lack of skilled personnel in the market pose limitations in the market. However, each factor would have a definite impact on the market during the forecast period. Consistent advancements in the information and communications technology market owing to innovative efforts have enhanced the efficiency of the dark analytics market.
The Asia Pacific is a key region for the dark analytics market, and it is projected to grow at the highest rate during the forecast period owing to the increasing number of market players opting for analytical solutions and number of small and medium-sized enterprises implementing data analytics in the region.
Key participants include Microsoft, AvePoint, Teradata, Symantec, Datameer, IBM, SAP SE, Amazon Web Services, Micro Focus, and Dell EMC, among others.
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The research report assesses the market dynamics, market landscape, company profiles, production and manufacturing capacity, year-on-year growth rate, SWOT analysis, and Porter’s Five Forces analysis. The report estimates the market size, market growth, and provides an accurate forecast for the key segments of the market for the forecast period of 2020-2028. The report also covers an in-depth analysis of the key competitors of the market, along with their growth strategies and business expansion plans.
The Dark Analytics Market has been segmented into key regions of the world and offers an analysis of growth rate, market share, market size, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Dark Analytics Market.
Further key findings from the report suggest
- On the basis of component, the solutions type segment held a larger market share of 60.4% in the year 2019. The growth is attributed to the increasing adoption of dark analytics tools that include IBM Watson, SAP HANA 2, Datumize Observer, Apache Hadoop, and Microsoft Cognitive Services. These tools possess features, such as video and sound analytics, machine learning, computer vision, and advanced pattern recognition.
- The on-premise segment is forecasted to grow with a higher CAGR of 25.3% during the forecast period. This is due to the rising security concerns across the BFSI and healthcare sectors and increasing regulation across telecommunication sectors.
- The marketing business application segment held the largest market share of 43.3% in the year 2019. Marketing is one of the vital business applications of any organization. The company’s marketing activity generates enormous customer data through sources, such as sales records, social media, websites, and cellphones. This stored data holds the potential to be a company’s most vital marketing resource, using which a company can create scalable and repeatable marketing processes.
- The Asia Pacific region is forecasted to grow with the highest CAGR of 25.8% during the forecast period. Countries such as India, China, Indonesia, Australia, and Malaysia have a high demand for data and analytics tools and platforms, which will increase the demand for dark analytics during the forecast period.
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For the purpose of this report, Reports and Data have segmented into the global Dark Analytics market on the basis of component, deployment type, business application, end-use industry, and region:
Component Outlook (Revenue, USD Billion; 2020-2028)
Deployment Type Outlook (Revenue, USD Billion; 2020-2028)
Business Applications Outlook (Revenue, USD Billion; 2020-2028)
- Human Resources
End-Use Industry Outlook (Revenue, USD Billion; 2020-2028)
- Retail & E-Commerce
- Travel & Hospitality
Regional Outlook (Revenue, USD Billion; 2020-2028)
- North America
- Asia Pacific
- Latin America
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Key Advantages of Dark Analytics Market Report:
- Identification and analysis of the market size and competition
- Qualitative and quantitative analysis of the market data
- Data validated by industry experts after extensive primary and secondary research
- Extensive regional analysis of the Dark Analytics industry
- Profiling of key players along with their business overview, business strategies, deals and partnerships, and product portfolio
- SWOT and Porter’s Five Forces Analysis for in-depth understanding of the competitive landscape
- Feasibility analysis and investment analysis to enable strategic investment decisions
- Analysis of opportunities, drivers, restraints, challenges, risks, and limitations
Conclusively, all aspects of the Dark Analytics Market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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