Summary
- • The global analytics industry was valued at $77.63 billion in 2019 and is projected to reach $132.9 billion by 2024.
- • By 2025, the analytics industry is expected to create over 421,000 new jobs in the United States.
- • 54% of enterprises cited data management as their top challenge in achieving analytics success.
- • The market for big data and business analytics is expected to grow to $274.3 billion by 2022.
- • Nearly 90% of businesses say that optimizing their analytics capability is a top priority.
- • The healthcare analytics market is projected to reach $68.1 billion by 2027.
- • 73% of organizations have already invested or plan to invest in predictive analytics by 2022.
- • The global text analytics market size is expected to grow from $3.9 billion in 2020 to $11.4 billion by 2025.
- • 67% of business leaders believe that leveraging data and analytics is essential for future growth.
- • The financial services analytics market is estimated to reach $48.4 billion by 2026.
- • Over 70% of companies consider people skills more important than technical skills in the analytics industry.
- • The sports analytics market is expected to grow to $6.9 billion by 2023.
- • The global marketing analytics market size is projected to reach $4.65 billion by 2023.
- • 82% of enterprises feel that edge analytics is important for their business strategies.
- • The automotive analytics market is forecasted to reach $4.3 billion in value by 2025.
Step right up, data enthusiasts and analytics aficionados, because the numbers dont lie – the analytics industry is booming! With a projected value set to skyrocket from $77.63 billion in 2019 to $132.9 billion by 2024, its clear that this field is not just a trend but a powerhouse of potential. From creating over 421,000 new jobs in the U.S. by 2025 to tackling challenges like data management and predictive analytics, it seems like everyone wants a piece of the $274.3 billion big data pie. So, whether youre crunching numbers in healthcare, finance, sports, or eCommerce, one things for sure – analytics isnt just a game-changer, its the game itself.
Artificial Intelligence
- 69% of companies believe that embedding artificial intelligence within analytics tools is crucial for success.
- Over 70% of executives say that AI and machine learning are critical for their data analytics strategy.
- The market for sentiment analysis software is predicted to reach $9.3 billion by 2025.
Interpretation
In a world where data reigns supreme, it seems the key to success lies in embracing the marriage of artificial intelligence with analytics. With nearly 70% of companies and over 70% of executives declaring the importance of AI and machine learning in their data strategies, the sentiment is clear: adapt or be left behind. As the market for sentiment analysis software is forecasted to soar to $9.3 billion by 2025, it's evident that understanding the nuances of data is not just a trend but a necessity for thriving in the ever-evolving analytics industry. So, in the grand game of numbers and predictions, those who wield AI with finesse may very well find themselves holding the winning hand.
Data Management
- 54% of enterprises cited data management as their top challenge in achieving analytics success.
- 88% of organizations believe that improving their data quality is a top priority for achieving their analytics objectives.
- The global data warehouse market size is expected to reach $23.8 billion by 2025.
- 84% of businesses believe that data and analytics are key to their digital transformation efforts.
- The global data governance market is estimated to grow to $5.7 billion by 2025.
- 72% of organizations say that becoming more data-driven is a top strategic priority for their business.
Interpretation
In the wild wilderness of the data-driven world, enterprises are facing the formidable challenge of taming the unruly beast that is data management, with 54% of them bravely raising their swords to conquer this top obstacle on their quest for analytics success. As they strive for glory on this perilous journey, 88% of organizations are sharpening their skills in data quality improvement, knowing that a sturdy shield of accurate data is key to achieving their analytics objectives. The looming specter of the $23.8 billion global data warehouse market hangs over their heads, a treasure trove waiting to be seized by the bold and the brave. In this age of digital transformation, 84% of businesses are heeding the call to arms, recognizing the invaluable sword and shield that data and analytics provide in their quest for glory and conquest. As the global data governance market swells to a mighty $5.7 billion by 2025, organizations are fortifying their defenses and preparing for battle, knowing that the path to success lies in disciplined governance of their data realms. And so, with 72% of organizations boldly declaring their allegiance to the cause of becoming more data-driven, the battlefield is set, the stakes are high, and the quest for data supremacy rages on.
Financial Services Analytics
- The financial services analytics market is estimated to reach $48.4 billion by 2026.
- The revenue management market is expected to grow to $25.7 billion by 2025.
- The global predictive analytics in banking market size is estimated to surpass $8 billion by 2025.
- The global fraud analytics market is anticipated to grow to $26.8 billion by 2026.
Interpretation
With the financial services analytics market set to hit $48.4 billion by 2026, revenue management marching towards $25.7 billion by 2025, predictive analytics in banking poised to exceed $8 billion by 2025, and the fraud analytics market anticipated to swell to $26.8 billion by 2026, it seems the only thing multiplying faster than these numbers is the need for companies to stay ahead in this data-driven game. In a world where predicting trends is as crucial as detecting fraud, it’s clear that in the analytics industry, the stakes—and the profits—are higher than ever. Time to crunch those numbers and ride this wave of Big Data to the bank!
Global Analytics Industry
- The global analytics industry was valued at $77.63 billion in 2019 and is projected to reach $132.9 billion by 2024.
- By 2025, the analytics industry is expected to create over 421,000 new jobs in the United States.
- The market for big data and business analytics is expected to grow to $274.3 billion by 2022.
- Nearly 90% of businesses say that optimizing their analytics capability is a top priority.
- 73% of organizations have already invested or plan to invest in predictive analytics by 2022.
- The global text analytics market size is expected to grow from $3.9 billion in 2020 to $11.4 billion by 2025.
- 67% of business leaders believe that leveraging data and analytics is essential for future growth.
- Over 70% of companies consider people skills more important than technical skills in the analytics industry.
- The sports analytics market is expected to grow to $6.9 billion by 2023.
- The global marketing analytics market size is projected to reach $4.65 billion by 2023.
- 82% of enterprises feel that edge analytics is important for their business strategies.
- The automotive analytics market is forecasted to reach $4.3 billion in value by 2025.
- 71% of organizations believe that data analytics is essential for gaining a competitive edge.
- The global eCommerce analytics market size is expected to reach $10.7 billion by 2025.
- 60% of businesses say that they have increased their investment in analytics due to the COVID-19 pandemic.
- The retail analytics market is estimated to be worth $11.1 billion by 2025.
- The predictive analytics market is projected to grow from $5.2 billion in 2020 to $21.5 billion by 2028.
- The predictive maintenance market is projected to reach $10.7 billion by 2026.
- Over 90% of leading global organizations claim data and analytics are crucial to their business growth.
- The data analytics market is estimated to grow to $512.04 billion by 2026.
- The global supply chain analytics market is forecasted to reach $10.7 billion by 2026.
- Over 80% of companies plan to increase their analytics investment in the next year.
- The cloud-based analytics market is projected to expand to $65.4 billion by 2025.
- 76% of organizations say that hiring and retaining analytics talent is a major challenge.
- The global location analytics market is anticipated to reach $26.7 billion by 2025.
- 65% of executives believe that organizations should be doing more to scale analytics across their enterprises.
- The social media analytics market is predicted to reach $17.7 billion by 2026.
- The workforce analytics market is expected to grow to $3.7 billion by 2025.
- The market for business intelligence and analytics tools is projected to reach $26.50 billion by 2021.
- The global advanced analytics market is anticipated to grow to $29.53 billion by 2025.
- 62% of organizations consider data and analytics as the most important investment for their business.
- 78% of executives believe that companies that invest in big data and analytics have a competitive advantage.
- The data science platform market is projected to reach $164.3 billion by 2027.
- 58% of enterprises are increasing their budgets for analytics solutions in the coming year.
- The global business intelligence market size is expected to grow to $37.5 billion by 2021.
- Over 65% of businesses say that leveraging analytics helps them make more informed decisions.
- The market for HR analytics is estimated to be worth $3.6 billion by 2026.
- 81% of organizations agree that analytics are essential for guiding their overall business strategies.
- The global data visualization market is set to reach $9.98 billion by 2026.
- 53% of businesses expect to increase their spending on data analytics solutions in the next three years.
- 74% of executives believe that analytics-driven insights can lead to better business outcomes.
- More than 70% of companies consider analytics to be a strategic priority for their organization.
- 68% of organizations say that they have seen a significant improvement in decision-making after implementing analytics.
- The market for web analytics is expected to surpass $7 billion by 2025.
Interpretation
The booming analytics industry seems to be on a data-driven rollercoaster with no signs of slowing down. With numbers flying higher than a rocket launch, it's clear that businesses worldwide are hopping on the analytics bandwagon faster than you can say "data insights." From predicting the future to unraveling the mysteries of big data, it's a numbers game that everyone wants a piece of. As organizations scramble to stay ahead of the curve, one thing is certain - in a world where information is power, analytics reign supreme, and the key to success is no longer about who has the most data, but who can make sense of it all. So, buckle up, data enthusiasts, because the analytics revolution is showing no signs of hitting the brakes anytime soon.
Healthcare Analytics
- The healthcare analytics market is projected to reach $68.1 billion by 2027.
- The global artificial intelligence in healthcare analytics market is expected to reach $12.29 billion by 2023.
- The global healthcare data analytics market is forecasted to reach $84.2 billion by 2028.
Interpretation
The numbers don't lie - it seems the healthcare industry is getting a healthy dose of analytics, with projections soaring higher than a patient's temperature during flu season. From diagnosing market trends to prescribing data-driven solutions, it's clear that the industry is not just focused on curing ailments, but also on curing inefficiencies. With figures skyrocketing faster than a hyped-up heart rate, it's safe to say that the prognosis for healthcare analytics is looking stronger than a double shot of espresso on a Monday morning.
