Australia Data Analytics Market to be Driven by the Growing Adoption of Vertical Data Analytics Services through 2028
Australia Data
Analytics market is being driven by a growth in internet users and the use of
digital services, both of which are expected to grow between 2024 and 2028.
According to
TechSci Research report, “Australia Data Analytics Market - By Region,
Competition, Forecast & Opportunities, 2018-2028F”, the Australia Data Analytics Market
is expected to register robust growth during the forecast period, 2024-2028. Data
analytics is a technique used by many businesses to study several data sets in
an attempt to predict future events using sophisticated software tools. The
cause for the growth of the data analytics market in Australia is the
increasing number of enterprises that rely on big scale data analytics to get
more insights into their customers' behavior as well as their distinct business
requirements. The increased adoption of data analytics by organizations
across many industries to obtain insights into customer behavior, better
decision-making, and lower costs is contributed to the market's rise. Data
analytics companies are investing heavily in research and development to
develop new and innovative data analytics solutions. Cloud-based data analytics
solutions offer a number of advantages, such as flexibility, scalability, and
cost-effectiveness, which are driving the demand for these solutions in the
market. Furthermore, growing awareness among companies about the created data,
which can be utilized to predict future events, is favorably affecting the
growth of the country's data analytics industry. The report cites the
increasing adoption of big data and advanced analytics solutions, as well as
the growing need for real-time data analytics, as key drivers of this growth.
The COVID-19 pandemic has
also played a role in the growth of the Australia data analytics market, as
businesses have had to rely more heavily on data to make informed decisions in
the face of uncertainty. The healthcare sector, in particular, has seen
significant growth in the use of data analytics to improve patient outcomes and
manage resources effectively.
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Australia Data Analytics market is segmented into component, deployment,
end-user industry and region. Based on component, the market is further
segmented into software and services. The
software segment is expected to dominate the market during the forecast period
due to the increasing demand for data analytics solutions that can help
businesses to collect, store, and analyze large volumes of data.
Based on deployment, the market is further bifurcated into on-premises
and cloud. The cloud segment is expected to grow
at a faster rate during the forecast period due to the increasing preference
for cloud-based solutions that offer flexibility, scalability, and
cost-effectiveness. Based on organization size, the market is segmented into
large enterprises, and small and medium enterprises. Based on end-user
industry, the market is further split into Retail & E-Commerce, Government
& Defense, BFSI, IT & Telecom and Others. The BFSI
segment is expected to dominate the market during the forecast period due to
the increasing adoption of data analytics by banks and financial institutions
to improve customer service, fraud detection, and risk management.
Key market
players in the Australia Data Analytics Market include:
- TIBCO Software Australia Pty Ltd
- Teradata Corporation
- Pernix Corporation
- Woveon Australia
- QlikTech Australia Pty Ltd
- SAS Institute Australia Pty Ltd
- SAP Australia Pty Ltd
- IBM AUSTRALIA LTD
- SFDC Australia Pty. Ltd. (Salesforce)
- Microsoft Pty Ltd.
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“The Australia data analytics market is expected to
develop at an outstanding rate, driven by increasing demand for data-based
insights across various sectors. This rise is being driven by the rising usage
of big data and advanced analytics solutions, as well as the growing
requirement for real-time data analytics. Industry experts believe that the
growth of the Australia data analytics market will continue to accelerate in
the coming years, driven by the increasing importance of data-driven
decision-making across industries. Businesses are increasingly adopting big data and
analytics to gain insights into customer behavior, improve decision-making, and
reduce costs. The financial services, healthcare, and retail sectors are
expected to be the primary drivers of growth in this market. The rising
relevance of data-driven decision-making across sectors is expected to drive
the growth of the Australia data analytics market in the coming years.
Financial services, healthcare, and retail are likely to be the key growth
drivers in this market,” Said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based global management consulting firm.
Australia
Data
Analytics Market By Product Type (Copper Cable, Fiber Cable, Fiber Components),
By Application (LAN, Data Center), By Wire Category (Category 5e, Category 6, Category 7,
Category 6A), By End User (Telecommunication, Government, Commercial, Others), By
Region, Competition, Forecast & Opportunities, 2028F has assessed the Australia Data
Analytics market's future development potential and provides data and
information on market size, structure, and projected market growth. The
report's goal is to give current market knowledge and assist decision makers in
making informed investment decisions. Furthermore, the study identifies and
analyses emerging trends, as well as key drivers, constraints, and
opportunities in the Australia Data Analytics market.
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