The Latest Embedded Analytics Industry Statistics Explained
By 2025, the embedded analytics market size is expected to reach $77.52 billion, at a CAGR of 13.6% during 2020-2025.
The statistic indicates that the embedded analytics market is projected to grow significantly in the coming years, with an expected market size of $77.52 billion by 2025. This growth is estimated to be driven by a compound annual growth rate (CAGR) of 13.6% during the period from 2020 to 2025. Embedded analytics refers to the integration of analytical capabilities directly within business applications, allowing users to access data insights and make decisions within their existing workflow. The forecasted growth in the embedded analytics market suggests an increasing demand for data-driven decision-making tools and indicates the expanding adoption of analytics technologies across various industries.
B2B industries make up 73% of the embedded analytics market.
The statistic that B2B industries make up 73% of the embedded analytics market indicates that a significant majority of companies that utilize embedded analytics solutions primarily operate in business-to-business sectors. Embedded analytics refers to the integration of data analytics capabilities directly within business applications, allowing users to access and analyze data within their existing workflows. The high prevalence of embedded analytics within B2B industries suggests a strong demand for data-driven insights and decision-making tools among businesses that serve other businesses, such as technology providers, service companies, and manufacturers. This statistic highlights the importance of analytics in optimizing operations and driving business performance within the B2B sector.
Almost half of all companies believe embedded analytics to be essential.
The statistic “Almost half of all companies believe embedded analytics to be essential” suggests that a significant proportion of businesses view embedded analytics as a crucial component of their operations. Embedded analytics refers to the integration of analytical capabilities, such as data visualization and reporting, directly within business applications and processes. This statistic indicates that a substantial number of companies recognize the value of leveraging data insights in real-time to drive decision-making and improve overall performance. By prioritizing embedded analytics, organizations can enhance their ability to derive meaningful insights from data, optimize processes, and gain a competitive edge in today’s data-driven business landscape.
The majority (89%) of app teams are investing in embedded analytics.
The statistic indicates that a large proportion (89%) of app development teams are allocating resources towards incorporating embedded analytics within their applications. Embedded analytics refers to the integration of analytic capabilities directly within a software application, allowing users to analyze data and derive insights without leaving the application interface. This high percentage suggests a growing recognition among app teams of the value and importance of data-driven decision-making for both developers and end-users. By investing in embedded analytics, app teams are striving to enhance user experience, increase engagement, and leverage data-driven insights to improve the functionality and competitiveness of their applications in a data-driven digital landscape.
By 2023, 44% of embedded analytics applications will use artificial intelligence algorithms.
The statistic suggests that by 2023, there will be a significant increase in the utilization of artificial intelligence algorithms within embedded analytics applications. Specifically, 44% of these applications are expected to incorporate AI algorithms as a means to enhance and streamline their data analysis capabilities. This trend indicates a growing reliance on AI technologies to automate decision-making processes, identify patterns within large datasets, and provide more accurate insights for businesses across various industries. As organizations continue to prioritize data-driven strategies, the integration of AI algorithms within embedded analytics applications is poised to play a crucial role in driving innovation and efficiency in the years ahead.
The North American region accounted for the largest market share of 38.6% in 2019.
This statistic indicates that out of the total market for the specified industry or product in 2019, the North American region held the largest portion at 38.6%. This suggests that North America had the highest level of market penetration or presence compared to other regions globally. This market share value of 38.6% could reflect various factors such as consumer demand, industry competitiveness, economic strength, and market strategies employed by companies operating in North America. This statistic provides valuable insights for businesses and investors to understand the significance of the North American market and its potential impact on overall market trends and developments.
A 15% increase in total productivity is seen from using embedded analytics tools.
The statistic stating a 15% increase in total productivity from using embedded analytics tools implies that organizations incorporating such tools into their operations experienced a significant boost in efficiency. This increase suggests that leveraging analytics capabilities directly within existing software applications or platforms led to a notable improvement in overall performance and output. The adoption of embedded analytics likely allowed for better data-driven decision-making, streamlined access to insights, and the automation of data processing tasks, ultimately leading to enhanced productivity levels within the organization. Overall, this statistic highlights the tangible benefits that organizations can achieve by integrating analytics tools seamlessly into their existing workflows.
45% of application teams state time to market as the biggest challenge for implementing embedded analytics.
The statistic “45% of application teams state time to market as the biggest challenge for implementing embedded analytics” indicates that nearly half of the teams responsible for developing applications perceive the speed at which they can release products to be a significant obstacle when it comes to incorporating embedded analytics into their software. This suggests that a considerable portion of application teams prioritize timely product delivery over other considerations when integrating data analytics capabilities, likely due to the competitive advantage and customer satisfaction that can result from quicker time-to-market. Addressing this challenge may involve streamlining development processes, optimizing project timelines, and leveraging tools and resources to accelerate the deployment of embedded analytics solutions within applications.
The business intelligence and analytics software segment makes up 36% of the total embedded analytics market.
This statistic indicates that the business intelligence and analytics software segment constitutes a significant portion of the overall embedded analytics market, accounting for 36% of the total market share. Embedded analytics refers to the integration of analytics capabilities within other software applications or workflows to provide users with data-driven insights and functionality. The prominence of business intelligence and analytics software within this market suggests a strong demand for embedded analytics solutions that offer advanced data analysis and reporting capabilities to support decision-making processes across various industries and sectors. This statistic highlights the importance of analytics tools in enhancing the functionality and value of software applications for businesses seeking to leverage data assets for competitive advantage and improved decision-making.
Among customers, 84% agree that embedded analytics has added value to their product.
The statistic “Among customers, 84% agree that embedded analytics has added value to their product” indicates that a large majority, specifically 84%, of customers who were surveyed believe that embedded analytics has positively contributed to the value of the products they use. This suggests that customers see the incorporation of analytics within the product as beneficial and potentially enhancing their experience or satisfaction with the product. This high level of agreement among customers highlights the perceived value and importance of embedded analytics in the products they consume, potentially pointing towards a trend where businesses may increasingly prioritize incorporating analytics as a value-added feature in their offerings to meet customer expectations and stay competitive in the market.
More than 60% of businesses use embedded analytics to analyze their data.
The statistic indicates that a majority of businesses, specifically more than 60%, leverage embedded analytics to analyze their data. Embedded analytics refers to the integration of data analysis capabilities within existing applications or systems used by businesses, enabling users to derive insights and make data-driven decisions without having to switch between different tools. This trend suggests that businesses are increasingly recognizing the value of real-time data analysis in driving strategic decisions and gaining a competitive edge in today’s data-driven environment. By seamlessly integrating analytics within their existing workflows, businesses can enhance efficiency, improve decision-making, and unlock actionable insights from their data to drive growth and innovation.
As of 2020, the Embedded analytics software industry was valued at $31.6 billion.
The statistic indicates that in the year 2020, the embedded analytics software industry was estimated to be worth $31.6 billion. This value represents the total revenue generated by companies operating within the embedded analytics software sector, which involves integrating analytics capabilities directly into other software applications and platforms. The significance of this figure underscores the increasing adoption and reliance on embedded analytics solutions across various industries to improve decision-making processes, enhance data-driven insights, and drive business growth. The substantial market valuation points to a growing demand for embedded analytics software and highlights the industry’s potential for further expansion and innovation in the future.
92% of the most successful applications are embedding analytics.
This statistic suggests that a majority of the most successful applications, likely referring to software applications or platforms, have integrated analytics capabilities directly into their interface or functions. Embedding analytics within an application allows users to visualize and analyze data within the same environment without needing to use external tools or software. This integration can provide users with valuable insights and actionable information, ultimately enhancing the user experience and improving the overall success of the application by enabling data-driven decisions and actions. By leveraging embedded analytics, these successful applications are able to offer advanced functionality and a competitive edge in the market.
The banking sector makes up 21% of the total embedded analytics market.
The statistic stating that the banking sector makes up 21% of the total embedded analytics market indicates the proportion of embedded analytics solutions, such as data visualization tools and reporting capabilities, that are specifically designed for and used within the banking industry. This statistic implies that the banking sector is a significant player in leveraging embedded analytics to optimize decision-making processes, enhance customer experiences, and drive business growth. With a notable share in the market, banks are recognizing the importance of data-driven insights and analytics to stay competitive and meet the evolving demands of the industry.
The Information Technology (IT) sector is expected to grow at a CAGR of 14.1% during the forecast period 2020-2025.
The statistic indicates that the Information Technology (IT) sector is projected to experience a Compound Annual Growth Rate (CAGR) of 14.1% over the forecast period of 2020 to 2025. This growth rate reflects the anticipated annualized rate at which the sector’s revenue or market size is expected to expand during the specified timeframe. A CAGR of 14.1% suggests a strong growth trend for the IT industry, indicating factors such as technological advancements, increasing demand for digital solutions, and evolving consumer preferences driving the sector’s growth. This projection can be used by investors, businesses, policymakers, and other stakeholders to assess potential opportunities and challenges within the IT industry and make informed decisions based on the expected growth trajectory.
The Asia Pacific region is expected to grow at the highest CAGR in the embedded analytics market during the forecast period
The statement suggests that the Asia Pacific region is anticipated to experience the highest Compound Annual Growth Rate (CAGR) within the embedded analytics market compared to other regions during the projected period. This indicates that there is a strong potential for significant growth and adoption of embedded analytics solutions in countries within the Asia Pacific region. Factors contributing to this growth could include increasing digital transformation initiatives, a growing emphasis on data-driven decision-making, and expanding awareness of the benefits of embedded analytics tools in enhancing business intelligence and analytics capabilities. As a result, companies operating in the embedded analytics market may find the Asia Pacific region to be a lucrative and promising market for their products and services in the coming years.
81% of companies are looking to increase their investment in embedded analytics over the next year.
The statistic that 81% of companies are looking to increase their investment in embedded analytics over the next year suggests a growing trend towards leveraging analytics within software applications and platforms. Embedded analytics involves integrating data analysis and visualizations directly into existing workflows and applications, enabling users to make data-driven decisions in real-time. This statistic indicates that a significant majority of companies recognize the value of embedded analytics in improving decision-making processes, enhancing user experiences, and ultimately driving business growth. The planned increase in investment signals a strategic priority for organizations to harness the power of data and analytics within their core business operations in order to stay competitive and drive innovation in today’s data-driven business environment.
References
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