Vietnam Data Analytics Market to dominated by Predictive Analysis segment through 2026
The rise in the digital
transformation initiatives and the growing e-commerce industry is expected to
drive the demand for Vietnam data analytics market for the forecast period.
According to TechSci Research report, “Vietnam
Data Analytics Market By Type (Predictive Analytics, Descriptive Analytics,
Prescriptive Analytics, Diagnostic Analytics), By Solutions (Business
Intelligence, Database Management, Data Mining, Fraud & Security
Intelli-gence, Others), By Function (Marketing Analysis, Operational Analysis,
Sales Analysis, Accounting and Finance Analysis, Others), By Deployment (Cloud,
On-Premises), By End Use Industry (Government & Defence, BFSI, Retail &
Ecommerce, Healthcare, Transport & Logistics, Others), By Region,
Competition Forecast & Opportunities, 2026”, the Vietnam data analytics
market is expected to witness a growth of steady CAGR for the forecast period,
2022-2026. The growing use of internet services and other technologies such as
sensors is generating large volumes of unstructured data. Data analytics
technology is generally used for trade promotion optimization, demand
forecasting, and behavior analytics by organizations. The rise in data
generation from various sources and the increase in the effort of the
organizations to create more opportunities for profit generation is expected to
drive the growth of the Vietnam data analytics market for the next five years.
The high rate of adoption of the data analytics technology in the BFSI industry
to improve cybersecurity services and can be used for risk management
functions.
With the onset of the COVID-19 pandemic, organizations
are providing appropriate measures and precautions to ensure the maximum safety
of their employees. They provide the facility of work from home and bring your
own device policy to the employees to follow social distancing. The rise in the
focus of the organization for remote monitoring and providing the required
support to its employees contribute to the market growth.
However, the data security and privacy concerns during
the data extraction may hamper the Vietnam data analytics market growth in the
forecast period.
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Vietnam
data analytics market is segmented into type, solutions, function, deployment,
end use industry, regional distribution, and company. Based on the end use industry,
the market can be divided into government & defence, BFSI, retail &
ecommerce, healthcare, transport & logistics, and others. The healthcare
segment is expected to witness significant growth for the forecast period,
2022-2026. Presence of huge volume of structured and unstructured data which
needs to be analysed in order to make smart decisions is driving the growth of
the segment. Based on type, the market is divided into predictive analytics,
descriptive analytics, prescriptive analytics, and diagnostic analytics. The
predictive analytics segment is expected to dominate the market for the next
five years. To predict the future trends and drivers of the market, industries
are actively opting for the predictive analytics technology to maximise their
profits in every situation. Based on function, the market is divided into
marketing analysis, operational analysis, sales analysis, accounting and
finance analysis, and others. The marketing analysis segment is expected to
account for major market share for the predicted period. Companies are opting
for marketing analysis to obtain information about the target consumers and
create suitable business models for marketing and sales purposes.
SAP
SE, IBM Corporation, Microsoft Corporation, Amazon Web Services, Inc., Tableu
Software LLC, Oracle Corporation, Altyrex, Accenture Plc, NTT Data Corporation,
Bac Ha Software, ITC Group, TMA Solutions, Kyanon Digital, KMS Technology Inc.,
Agile Tech Vietnam are the leading players operating in Vietnam data analytics market.
Service providers are increasingly focusing on research and development process
to fuel higher growth in the market. To meet evolving customer demand with
respect to better efficiency and durability, several data analytics service
providers are coming up with their technologically advanced offerings.
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“The
growing demand for the adoption of advanced technologies such as the internet
of things, artificial intelligence, machine learning, and others to boost the
efficiency and output of the industries is creating lucrative opportunities for
market growth. The expected roll-out of the 5G technology and the up-gradation
of the IT infrastructure in the country is significantly contributing to the
market growth. Additionally, the increasing focus of the organizations to provide
enhanced consumer experience and satisfaction and create a personalized
experience for the customers is expected to propel the Vietnam data analytics
market growth till 2026” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based global management consulting firm.
“Vietnam Data Analytics
Market By Type (Predictive Analytics, Descriptive Analytics, Prescriptive
Analytics, Diagnostic Analytics), By Solutions (Business Intelligence, Database
Management, Data Mining, Fraud & Security Intelli-gence, Others), By Function
(Marketing Analysis, Operational Analysis, Sales Analysis, Accounting and
Finance Analysis, Others), By Deployment (Cloud, On-Premises), By End Use
Industry (Government & Defence, BFSI, Retail & Ecommerce, Healthcare,
Transport & Logistics, Others), By Region, Competition Forecast &
Opportunities, 2026” has evaluated the future growth potential of Vietnam data
analytics market and provided statistics & information on market size, shares,
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 of Vietnam data
analytics market.
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