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The global embedded analytics market size reached a value of USD 47.60 billion in 2021. The market for embedded analytics is further expected to grow at a CAGR of 14.1% between 2023 and 2028 to reach a value of around USD 105.03 billion by 2027.
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 is a technology being developed to make data analysis and business intelligence more accessible to all applications or user organisations. Due to the integrated structure of the business application and business intelligence (BI) tools in a single suite, several organisations are turning toward embedded analytics. These analytics have been found to provide a higher level of problem resolution when compared to standard business analysis methods.
Embedded analytics helps organisations monitor and evaluate data and manage diagnostic patients, which enhances and streamlines procedures. As a result, its use in the healthcare sector is growing globally. This is anticipated to aid the growth of the embedded analytics market along with the adoption of a patient-centric strategy and the demonstration of improved clinical and operational capacity.
Industry leaders are updating current product versions using cutting-edge technologies including cloud services, artificial intelligence (AI) and the Internet of Things (IoT). Additionally, they are adding embedded analytics, which will give the legal department transparency and important data around the litigation lifecycle, leading to a positive market outlook.
The rising attention of major industry verticals, including healthcare, BFSI, retail, and government, among others, on embedded analytics, is further driving the embedded analytics market growth.
Embedded analytics transforms raw data into business intelligence (BI) and assists in increasing productivity and strengthening competitive edge in order to improve customer satisfaction. This is likely to propel the market growth.
The high replacement cost associated with embedded analytics is the key hindering factor in the embedded analytics market share.
Unavailability of skilled professionals, maintenance of software, and training workforce are other major factors restraining the market growth.
Software and services components in the market. Based on deployment, the market is divided into on premises and cloud based. On the basis of the size of organisation, the market is segmented into large enterprises and small and medium enterprises.
The major industries in the market are BFSI, retail, manufacturing, media and entertainment, healthcare, IT and telecommunication, among others. The regional markets for embedded analytics can be divided into North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global embedded analytics market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.
Services are likely to hold the largest embedded analytics market share in the forecast period. Embedded analytics services enable users to include analytics into their own web portals, products, and applications. Embedded analytics services make dashboards, reports, and analytics available to customers, suppliers, and partners outside the business organisation, acting as a flexible platform.
Software companies across all industries now rely on tools that embed BI directly within commonly used applications for improved employee efficiency. Embedded analytics also allows more granular analytics at the functional level than traditional horizontal BI tools. Software companies were crediting embedded analytics with dramatic improvements in win rates and increased revenue to embedded analytics features.
According to embedded analytics market research, resources are deployed inhouse and inside the IT infrastructure of an organisation in an on-premises environment. A company is in charge of managing the solution and all of the processes connected to it. Enterprises maintain complete control over what happens to their data, for better or worse.
Although there are several types of cloud computing, including public, private, and hybrid clouds, organisations can access and use as many resources in a public cloud computing environment as they require at any one time. These resources are hosted on the service provider's premises.
According to embedded analytics market research report, large enterprises are anticipated to account for a major market share in the forecast period. With the help of embedded analytics, organisations are presented with remarkable opportunities to increase productivity, strengthen competitive advantage and improve customer satisfaction. Employees can alter blended data and detect trends using predictive analytics using embedded analytics tools like Sisense without leaving their present application. This provides the agility to seize new business opportunities at a moment's notice and make educated decisions that match the company's goals.
Business intelligence enables the company to track every metric – from revenue and business performance to analysing customer behaviour and competitor data. Successful organisations, whether large or small, use business intelligence to make product decisions based on previous orders and determine what to restock. Even the smallest business, such as the local baker, can track how many bagels the person is selling and what ingredients he/she needs to buy.
In the BFSI industry, embedded analytics is being used to develop an optimal channel strategy, detect fraudulent transactions, understand customer spending patterns and push compelling offers on credit/debit cards, reduce financial reporting time and effort, identify and monitor suspicious account holders, and recommend investment opportunities to customers based on their existing portfolio. This is aiding the embedded analytics market value.
Retail analytics allows marketers to tap into a constant iteration cycle, continuous learning and quick decision-making. Retailers can employ embedded analytics technology to streamline their data, mine it, and make informed sales and selling strategy forecasting decisions.
In the retail industry, embedded analytics is being used to suggest cross-selling and up-selling strategies based on the customer's purchase history, provide information on how empty or full their stocks are, plan marketing campaigns that target their audiences, and allows stores to always provide the number of products needed, along with forecast sales and future demands.
Manufacturing analytics makes use of data and data technologies to optimise the supply chain and operations, boost performance, ensure high quality, and cut costs. Analytics offer manufacturers visibility into the entire process, from raw materials entering the plant to products exiting for distribution, allowing them to better understand performance and the company's financial picture. Data analytics allows manufacturers to gather, store, process, and utilise data in their daily operations by drawing key insights about improvement and optimisation opportunities, thereby bolstering the growth of the global embedded analytics market.
Analytics tools are being used by government organisations and health specialists to analyse, track, and reduce the spread of viruses such as coronavirus. The waiting time of patients is decreased by measuring and utilising scheduling and staffing procedures, and the quality of care is improved by streamlining procedures related to scheduling appointments, providing referrals, and processing insurance claims.
Telecommunication analytics software is a business intelligence (BI) management tool that enables the telecom industry to harness its plethora of data to get meaningful insights and improve operational decision-making. Telecom analytics may also employ predictive insights to keep satellites, vehicles, and repeater towers operating at high efficiency, reducing downtime, and even uncovering new trends in end-user behaviour to minimise mobile service failures or bad quality.
North America is estimated to dominate the market for embedded analytics software due to the rise in the attention of major industries, including healthcare, BFSI, government, and retail, among others, on embedded analytics. The presence of various organisations and an increase in demand for embedded analytics tools are also raising the demand for the market in the region.
North America has the largest acceptance of data modernisation technologies across several end-user industries when compared to other regions, which is a key driver driving the region's adoption of various analytical solutions such as embedded analytics.
The region also continues to be prominent in the information and communications technology (ICT) sector, as it is home to several significant corporations in the United States, including Apple, Facebook, IBM, Oracle, and Google. Their actions and efforts in advanced analytics are projected to benefit the country's market, therefore improving the embedded analytics market development.
For instance, Oracle Corporation announced the release of its first Oracle Analytics for Applications service in September 2019. This offering was created for Oracle ERP Cloud, a Fusion Cloud enterprise resource planning programme that businesses use to manage financial processes. Line-of-business users and decision-makers can get superior cross-line-of-business analytics using Oracle Analytics for Fusion ERP.
Asia Pacific is expected to observe significant growth in the embedded analytics market due to the rise in various industries, including BFSI, retail and manufacturing. The increase in penetration of smartphones, laptops, and tablets, enterprise mobility, high penetration of internet, and surge in need for better data management are propelling the market development in the region.
Companies are implementing embedded analytics technologies to quickly delve into the massive amounts of data collected and acquire faster business insights. The rising adoption of embedded analytics by various enterprises is mainly driven by globalisation and the development of the region's economy. The increasing amount of business data and Bring Your Own Device (BYOD) across numerous industries in this area is fuelling Asia Pacific market growth.
IBM Corporation is a leading technology company that provides cloud-based services, hardware, software, and cognitive computing. The business provides cloud goods in the form of the Watson supercomputer, Bluemix, a SoftLayer cloud, and data analytics or cognitive computing capabilities.
OpenText Corporation is a leader in information management and helps companies gather, control, and securely communicate data on a worldwide scale. Small- to medium-sized businesses to the biggest and most complicated organisations in the world can all benefit from OpenText's assistance in addressing their digital business concerns.
Microsoft Corporation develops and provides support for a wide range of software products, services, solutions, and tools. The company's segments include personal computing, intelligent clouds, and productivity and business processes.
SAP SE offers enterprise application software and services connected to software. It provides a range of solutions, such as corporate resource planning, financial management, digital supply chain, analytics, intelligent technologies, a digital platform, human resources, customer resource management, customer experience, and speed management. The presence of such solutions is likely to aid the global embedded analytics market growth.
TIBCO Software Inc. provides real-time data that has the ability to help people make quicker, more informed decisions. Any application or data source may be connected to the connected intelligence platform without a hitch, and it intelligently combines data for better access, trust, and control. It also makes solid predictions of outcomes in real-time and at scale.
Sisense Inc. is a business intelligence (BI) software giant that offers a variety of benefits to its customers. It can be used to compile data from various sources and store it all in one place. The app's robust visual reports can be utilised to generate smart analysis.
|Scope of the Report||
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|Breakup by Component||
|Breakup by Deployment||
|Breakup by Size of Organisation||
|Breakup by Industry||
|Breakup by Region||
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Global Embedded Analytics Market Analysis
8.1 Key Industry Highlights
8.2 Global Embedded Analytics Historical Market (2018-2022)
8.3 Global Embedded Analytics Market Forecast (2023-2028)
8.4 Global Embedded Analytics Market by Component
184.108.40.206 Market Share
220.127.116.11 Historical Trend (2018-2022)
18.104.22.168 Forecast Trend (2023-2028)
22.214.171.124 Market Share
126.96.36.199 Historical Trend (2018-2022)
188.8.131.52 Forecast Trend (2023-2028)
8.5 Global Embedded Analytics Market by Deployment
8.5.1 On Premises
184.108.40.206 Market Share
220.127.116.11 Historical Trend (2018-2022)
18.104.22.168 Forecast Trend (2023-2028)
22.214.171.124 Market Share
126.96.36.199 Historical Trend (2018-2022)
188.8.131.52 Forecast Trend (2023-2028)
8.6 Global Embedded Analytics Market by Size of Organisation
8.6.1 Large Enterprises
184.108.40.206 Market Share
220.127.116.11 Historical Trend (2018-2022)
18.104.22.168 Forecast Trend (2023-2028)
8.6.2 Small and Medium Enterprises
22.214.171.124 Market Share
126.96.36.199 Historical Trend (2018-2022)
188.8.131.52 Forecast Trend (2023-2028)
8.7 Global Embedded Analytics Market by Industry
184.108.40.206 Market Share
220.127.116.11 Historical Trend (2018-2022)
18.104.22.168 Forecast Trend (2023-2028)
22.214.171.124 Market Share
126.96.36.199 Historical Trend (2018-2022)
188.8.131.52 Forecast Trend (2023-2028)
184.108.40.206 Market Share
220.127.116.11 Historical Trend (2018-2022)
18.104.22.168 Forecast Trend (2023-2028)
8.7.4 Media and Entertainment
22.214.171.124 Market Share
126.96.36.199 Historical Trend (2018-2022)
188.8.131.52 Forecast Trend (2023-2028)
184.108.40.206 Market Share
220.127.116.11 Historical Trend (2018-2022)
18.104.22.168 Forecast Trend (2023-2028)
8.7.6 IT and Telecommunication
22.214.171.124 Market Share
126.96.36.199 Historical Trend (2018-2022)
188.8.131.52 Forecast Trend (2023-2028)
8.8 Global Embedded Analytics Market by Region
8.8.1 North America
184.108.40.206 Market Share
220.127.116.11 Historical Trend (2018-2022)
18.104.22.168 Forecast Trend (2023-2028)
22.214.171.124 Market Share
126.96.36.199 Historical Trend (2018-2022)
188.8.131.52 Forecast Trend (2023-2028)
8.8.3 Asia Pacific
184.108.40.206 Market Share
220.127.116.11 Historical Trend (2018-2022)
18.104.22.168 Forecast Trend (2023-2028)
8.8.4 Latin America
22.214.171.124 Market Share
126.96.36.199 Historical Trend (2018-2022)
188.8.131.52 Forecast Trend (2023-2028)
8.8.5 Middle East and Africa
184.108.40.206 Market Embedded Analytics
220.127.116.11 Historical Trend (2018-2022)
18.104.22.168 Forecast Trend (2023-2028)
9 North America Embedded Analytics Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2022)
9.1.3 Forecast Trend (2023-2028)
9.2.1 Market Share
9.2.2 Historical Trend (2018-2022)
9.2.3 Forecast Trend (2023-2028)
10 Europe Embedded Analytics Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2022)
10.1.3 Forecast Trend (2023-2028)
10.2.1 Market Share
10.2.2 Historical Trend (2018-2022)
10.2.3 Forecast Trend (2023-2028)
10.3.1 Market Share
10.3.2 Historical Trend (2018-2022)
10.3.3 Forecast Trend (2023-2028)
10.4.1 Market Share
10.4.2 Historical Trend (2018-2022)
10.4.3 Forecast Trend (2023-2028)
11 Asia Pacific Embedded Analytics Market Analysis
11.1.1 Market Share
11.1.2 Historical Trend (2018-2022)
11.1.3 Forecast Trend (2023-2028)
15.2.1 Market Share
15.2.2 Historical Trend (2018-2022)
15.2.3 Forecast Trend (2023-2028)
11.3.1 Market Share
11.3.2 Historical Trend (2018-2022)
11.3.3 Forecast Trend (2023-2028)
11.4.1 Market Share
11.4.2 Historical Trend (2018-2022)
11.4.3 Forecast Trend (2023-2028)
11.5.1 Market Share
11.5.2 Historical Trend (2018-2022)
11.5.3 Forecast Trend (2023-2028)
12 Latin America Embedded Analytics Market Analysis
12.1.1 Market Share
12.1.2 Historical Trend (2018-2022)
12.1.3 Forecast Trend (2023-2028)
12.2.1 Market Share
12.2.2 Historical Trend (2018-2022)
12.2.3 Forecast Trend (2023-2028)
12.3.1 Market Share
12.3.2 Historical Trend (2018-2022)
12.3.3 Forecast Trend (2023-2028)
13 Middle East and Africa Embedded Analytics Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2022)
13.1.3 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2022)
13.2.3 Forecast Trend (2023-2028)
13.3.1 Market Share
13.3.2 Historical Trend (2018-2022)
13.3.3 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2022)
13.4.3 Forecast Trend (2023-2028)
14 Market Dynamics
14.1 SWOT Analysis
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 IBM Corporation
22.214.171.124 Company Overview
126.96.36.199 Product Portfolio
188.8.131.52 Demographic Reach and Achievements
15.2.2 Open Text Corporation
184.108.40.206 Company Overview
220.127.116.11 Product Portfolio
18.104.22.168 Demographic Reach and Achievements
15.2.3 Microsoft Corporation
22.214.171.124 Company Overview
126.96.36.199 Product Portfolio
188.8.131.52 Demographic Reach and Achievements
15.2.4 SAP SE
184.108.40.206 Company Overview
220.127.116.11 Product Portfolio
18.104.22.168 Demographic Reach and Achievements
15.2.5 TIBCO Software, Inc.
22.214.171.124 Company Overview
126.96.36.199 Product Portfolio
188.8.131.52 Demographic Reach and Achievements
15.2.6 Sisense Inc.
184.108.40.206 Company Overview
220.127.116.11 Product Portfolio
18.104.22.168 Demographic Reach and Achievements
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Embedded Analytics Market: Key Industry Highlights, 2018 and 2028
2. Global Embedded Analytics Historical Market: Breakup by Component (USD Billion), 2018-2022
3. Global Embedded Analytics Market Forecast: Breakup by Component (USD Billion), 2023-2028
4. Global Embedded Analytics Historical Market: Breakup by Deployment (USD Billion), 2018-2022
5. Global Embedded Analytics Market Forecast: Breakup by Deployment (USD Billion), 2023-2028
6. Global Embedded Analytics Historical Market: Breakup by Size of Organisation (USD Billion), 2018-2022
7. Global Embedded Analytics Market Forecast: Breakup by Size of Organisation (USD Billion), 2023-2028
8. Global Embedded Analytics Historical Market: Breakup by Industry (USD Billion), 2018-2022
9. Global Embedded Analytics Market Forecast: Breakup by Industry (USD Billion), 2023-2028
10. Global Embedded Analytics Historical Market: Breakup by Region (USD Billion), 2018-2022
11. Global Embedded Analytics Market Forecast: Breakup by Region (USD Billion), 2023-2028
12. North America Embedded Analytics Historical Market: Breakup by Country (USD Billion), 2018-2022
13. North America Embedded Analytics Market Forecast: Breakup by Country (USD Billion), 2023-2028
14. Europe Embedded Analytics Historical Market: Breakup by Country (USD Billion), 2018-2022
15. Europe Embedded Analytics Market Forecast: Breakup by Country (USD Billion), 2023-2028
16. Asia Pacific Embedded Analytics Historical Market: Breakup by Country (USD Billion), 2018-2022
17. Asia Pacific Embedded Analytics Market Forecast: Breakup by Country (USD Billion), 2023-2028
18. Latin America Embedded Analytics Historical Market: Breakup by Country (USD Billion), 2018-2022
19. Latin America Embedded Analytics Market Forecast: Breakup by Country (USD Billion), 2023-2028
20. Middle East and Africa Embedded Analytics Historical Market: Breakup by Country (USD Billion), 2018-2022
21. Middle East and Africa Embedded Analytics Market Forecast: Breakup by Country (USD Billion), 2023-2028
22. Global Embedded Analytics Market Structure
In 2021, the market for embedded analytics attained a value of nearly USD 47.60 billion.
The market is projected to grow at a CAGR of 14.1% between 2023 and 2028.
The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach USD 105.03 billion by 2027.
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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