Market Analysis:
Market Research Future (MRFR), in its latest report on the global statistical analytics market 2020, releases the current and long-term influence of the SARS-CoV-2 pandemic on the market through the review period. As per the MRFR study, the expansion of the global statistical analytics market share can be at 31.50% CAGR across the assessment period. The high need to meet improved consumer satisfaction is boosting the demand for statistical analytics solutions across multiple sectors, such as; foods and beverages, BFSI, healthcare, IT telecommunications, retail, and manufacturing among others. This is expected to impel the rise of the market across the review period. The booming e-commerce field of business can gain substantially high annual revenue across the study span. Statistical analytics techniques aid organizations to understand hidden trends and data patterns that can aid investors in making the right decisions. Proliferated technological advancements and digital solutions can bolster the market rise.
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Key Players
Statacorp (U.S.), SAS Institute (U.S.), Tibco Software Inc. (U.S.), SAP SE (Germany), Oracle Corporation (U.S.), Plug Score (U.S.), International Business Machine (U.S.), Qlik Software (U.S.), Alteryx (U.S.), and Lumina Decision Systems (U.S.) are some reputed players in the worldwide statistical analytics market.
Segmental Analysis
The segmented study of the statistical analytics market is based on organization size, component, deployment, and vertical.
The component-based segments of the statistical analytics market are solution and service. The solution segments are forecasting econometrics, data mining, visual analytics, predictive analysis, and statistical analytics. The service segments are professional, and support maintenance services. The increase in the rate of deployment of statistical analytics solutions across major enterprises can promote the expansion of the market across the assessment period. The high utility of predictive analysis to boost operational performance is expected to impel the expansion of the market across the analysis period.
The deployment-based statistical analytics market segments are cloud and on-premise. The increase in the demand for cloud solutions for statistical analytics can impel the expansion of the market in the near future.
The organization size-based segments of the statistical analytics market are small medium-sized enterprises and large-scale enterprises. The large-scale adoption of statistical analytics solutions and services by SMEs to deliver high-quality solutions can impel the expansion of the market across the review period.
The vertical-based segments of the statistical analytics market are IT telecommunication, government defense, transportation logistics, healthcare, BFSI, retail, travel hospitality, manufacturing, and media entertainment. Healthcare and retail are high consumers of statistical analytics, which can promote the expansion of the market across the review period.
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Detailed Regional Analysis
The statistical analytics market in North America can rise at a considerably high pace due to the rise in the need for effective analytics solutions in top-notch enterprises. The increase in the need for statistical analytics in the booming automobile sector is attributed to the expansion of the regional market. Additional factors, such as; highly effective network infrastructure, rapid implementation of higher technology, and digitization can prompt the expansion of the statistics analysis market in North America. In Europe, the expansion of the product portfolio driven by advanced technology and hefty investment made in them are likely to propel the rise of the regional market through the assessment period. In the rising economies of the EU, the statistical analytics market can rise at a decent pace. In Asia Pacific, the fast-growing e-commerce sector and the increase in the need for effective supply chain solutions can propel the rise of the market through the study period.
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