Advanced Analytics Market Analysis

Advanced Analytics Segmentation

Application (BFSI, IT & Telecom, Healthcare, Government & Defense, Transportation, Retail)

The BFSI segment is estimated to hold 29% share of the global advanced analytics market by 2037. This growth is attributed to the increasing adoption of advanced analytics solutions for identifying fraudulent transactions, preventing any cyberattacks, optimizing processes, and handling all the associated risks in the sector.  For instance, financial service provider BBVA implemented a social media analytical tool that helps in gaining product and image insights. This is catered to over 47 million customers across the globe. This is expected to contribute to the growth of the segment in the forecast period. Further, novel approaches in the sector are also estimated to contribute to the growth of the segment.

Type (Big Data Analytics, Business Analytics, Customer Analytics, Risk Analytics, Statistical Analytics)

Advanced analytics market from the big data analytics segment is expected to garner a significant share of around 35% in the year 2037. The growing popularity and prevalence of social media along with virtual offices and business is estimated to contribute to the growth of the segment in the forecast period. The emergence and adoption of SaaS big data analytics to make the automation of businesses easier is also another factor contributing to the growth of the segment in the forecast period. On the other hand, the increasing investments in cloud technologies are projected to witness a massive CAGR during the forecast period, owing to the rising importance of these online and digital platforms worldwide. This, as a result, is anticipated to create numerous opportunities for the growth of the segment in the coming years.

Our in-depth analysis of the global market includes the following segments: