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Advanced Analytics Market size was valued at around USD 41.85 billion in 2022 and is expected to rise from USD 50.68 in 2023 to reach a value of USD 234.42 Billion by 2030, at a CAGR of 21.1% during the forecast period (2024–2031).

A few huge players dominate the market. However, in recent years, the advent of niche competitors offering solutions tailored to the industry has altered market dynamics. Companies can be observed pursuing mergers, acquisitions, and alliances in order to improve their products and obtain a market advantage. Companies are developing new products and improving existing ones in order to get new clients and expand their market share. RapidMiner, Inc., for example, announced an agreement with Hivecell, an Edge-as-a-Service firm, in 2021. The cooperation aims to enable users to quickly construct and run models with data that streams from the edge. 'IBM', 'Microsoft Corporation', 'SAP SE', 'Oracle Corporation', 'SAS Institute Inc.', 'Amazon Web Services Inc.', 'Google LLC', 'Teradata Corporation', 'Alteryx, Inc.', 'MicroStrategy Incorporated', 'TIBCO Software Inc.', 'Qlik Technologies Inc.', 'Tableau Software, LLC', 'RapidMiner, Inc.', 'KNIME AG', 'FICO (Fair Isaac Corporation)', 'Databricks, Inc.', 'Cloudera, Inc.', 'Talend Inc.', 'MathWorks, Inc.'

With the increasing amount of data being generated, there is a growing need for advanced analytics solutions to derive insights and make informed decisions.

Artificial Intelligence (AI) and Machine Learning (ML) Dominance: AI and ML are emerging as the dominant technologies in advanced analytics. These technologies can help organizations extract insights from complex and unstructured data and automate decision-making processes.

North America represented a significant market share of more than 45% of the globally advanced analytics market. This is due to the availability of supporting infrastructure for the application of cutting-edge analytics, as well as a surge in the usage of advanced technologies like AI and machine learning.

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Global Advanced Analytics Market

Product ID: SQMIG45C2033