United States Embedded Analytics Market to be Dominated by Telecommunications and IT Vertical in the Forecast Period

Surge in penetration of smartphones & rising need for data analysis in marketing activities are expected to drive the United States Embedded Analytics Market in the forecast period, 2024-2028

 

According to TechSci Research report, United States Embedded Analytics Market -. By Region, Competition Forecast & Opportunities, 2018-2028F,” the United States Embedded Analytics Market is projected to grow in the forecast period due to the increasing demand for embedded analytics software. This software helps to reduce operational costs and streamline processes in organizations.

Embedded analytics is an application-oriented integration of business intelligence (BI) tools and reporting tools. It integrates analytical capabilities into a particular application to analyze collected data for better operational decisions. Unlike traditional business analytical tools, embedded analytics software provides a comprehensive view of the business landscape and offers opportunities for smoother decision-making. It helps organizations achieve superior customer engagement.

The complete suite of embedded analytics is experiencing significant demand from small, medium, and large enterprises, mainly because of its offerings such as embeddability, data management, data visualization, data reporting, and data analysis. Some of these features include reduced complexity, reduced latency, and improved control over the business analytics process.

 

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Based on organization size, the market has been segmented into large enterprises and Small and Medium-sized Enterprises (SMEs). Small and Medium-sized Enterprises (SMEs) segment is likely to account for the largest market share in the forecast period. SMEs face challenges in effectively managing business operations with better visibility, more effective strategic planning, and faster time to value. As a result, embedded analytics software not only helps SMEs stay competitive by bringing insights closer to employees but also helps them respond to change in a systematic way, resulting in better business decisions. Additionally, the increasing demand for embedded analytics software to reduce operational costs and streamline processes is expected to drive revenue growth in this segment during the forecast period. Furthermore, the increasing adoption of embedded analytics software in SMEs to improve productivity by analyzing the model and making data-driven decisions through key indicators viewed both in aggregate and at the detailed level is also expected to drive revenue growth for the segment soon.

Based on vertical, the market has been segmented into Banking, Financial Services, and Insurance, Healthcare and Life Sciences, Manufacturing, Retail and Consumer Goods, Energy and Utilities, Telecommunications and IT, Transportation and Logistics, Government and Defense, Media and Entertainment, and Others. The Information Technology (IT) and telecom segment are expected to register a fast revenue growth rate over the forecast period owing to the increasing need for system deployment, maintenance, and strategic technology investments in an organization. Embedded analytic solutions provide data insights ranging from high-level status reports to in-depth analysis of process improvement, including costs, maintenance, and installation times, which is expected to boost revenue growth of the segment during the forecast period. Furthermore, the increasing need for embedded analytics solutions to provide real-time analytics on Key Performance Indicators (KPIs), such as the proportion of helpdesk tickets resolved within the agreed-upon deadline, in order to assess the success of ongoing assistance, is expected to drive revenue growth of the segment during the forecast period.

 

Key market players in the United States Embedded Analytics market:

• Microsoft Corporation
• Sas Institute Inc.
• INTERNATIONAL BUSINESS MACHINES (IBM) CORPORATION
• Oracle Corporation
• Tibco Software Inc.
• MicroStrategy Incorporated
• Tableau Software, LLC
• Qliktech International Ab
• Open Text Corporation
• Bella Data Labs
• Hitachi Vantara LLC
• Syncfusion Inc.
• Salesforce, Inc.
• Insight software
• Infor
  
  

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August 2022 - SAS and Single Store have announced a collaboration to help organizations remove barriers to data access, maximize performance and scalability, and uncover key data-driven insights. SAS Viya with Single Store enables the use of SAS analytics and AI technology on data stored in SingleStore’s cloud-native real-time database. The integration provides flexible, open access to curated data to help accelerate value for cloud, hybrid, and on-premises deployments.

July 2022 - TIBCO announced the launch of TIBCO ModelOps, which helps customers simplify and scale cloud-based analytic model management, deployment, monitoring, and governance; TIBCO ModelOps addresses the requirement for speed in deploying AI and draws from TIBCO’s leadership in data science data visualization and business intelligence. This aids AI teams in confronting critical deployment hurdles like ease-of-applying analytics to applications, identification and mitigation of bias, and transparency and manageability of an algorithm’s behavior within business-critical applications.

“Increasing need for data-driven decision making, to fulfill customer demand, and increasing use of mobile devices and cloud computing technologies are key factors driving growth of the United States Embedded Analytics Market. Data-driven decision-making is a key issue in businesses, and there is an increased demand for efficient decision-making and evaluation tools to make business-critical decisions. According to a survey in 2020, it was found that the number of organizations implementing data-driven decision-making increased by 12% in 2020 in comparison to 2018. Embedded analytics services assist businesses in making better judgments, adjusting for uncertainty, and improving decision models.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based Global management consulting firm.

“United States Embedded Analytics Market By Component (Software and Services), By Organization Size (Small & Medium sized Enterprises and Large Enterprises), By Business Function (Information Technology, Marketing and Sales, Finance, Production, Human Resources and Others), By Deployment Model (On-Premises and On-Demand), By Vertical (Banking, Financial Services, and Insurance, Healthcare and Life Sciences, Manufacturing, Retail and Consumer Goods, Energy and Utilities, Telecommunications and IT, Transportation and Logistics, Government and Defense, Media and Entertainment and Others), By Region, Competition Forecast & Opportunities, 2018-2028,” has evaluated the future growth potential of United States Embedded Analytics Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the United States Embedded Analytics Market.

 

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