IBM announced the launch of their newest software IBM Business Analytics Software. This software helps businesses dismantle large amounts of data and decode business insights without any possible disruptions. The software provides intelligent planning, forecasting, and reporting for improving business efficiency.
SAS announced a collaboration with the Monetary Authority of Singapore to implement and use the Veritas toolkit in order to integrate AI advanced solutions in the financial sectors. This helps in optimizing workflow automation and capabilities.
Author Credits: Abhishek Verma, Hetal Singh
Report ID: 5008
Published Date: Jun 12, 2023
Report Format: PDF, PPT
Frequently Asked Questions (FAQ)
Growing digitization, digital production, and increased adoption of advanced analytics solutions in end-user verticals are the major factors driving the market growth.
The market size of advanced analytics is anticipated to attain a CAGR of ~24.60% over the forecast period, i.e., 2023 â€“ 2035.
The major players in the market are Altair Engineering, Inc., Fair Isaac Corporation (FICO), International Business Machines Corporation, KNIME, Microsoft Corporation, Oracle Corporation, RapidMiner, Inc., SAP SE, SAS Institute Inc., and Trianz.
The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by type, deployment, application, and by region.
The BFSI segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
Lack of advanced analytics awareness in the workforce and the high procurement costs are estimated to be the growth hindering factors for the market expansion.
The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.