The top 10 analytics technologies market is expected to grow at a significant rate during the forecast period.
The growth of this market is propelled by the advent of IoT and proliferation of massive amounts of data through connected devices, increasing focus on competitive insights, need for increased business agility and scalability, and growing volume and variety of business data across industry verticals. This report categorizes the top 10 analytics technologies market on the basis of software, service, data type, business function, application, industry vertical, and region.
The market for analytics as a service is expected to grow at the highest rate during the forecast period. The analytics as a service market is expected to be the next big thing in a few years. The analytics market evolution started with the digital support system and data warehouse, followed by the introduction of mainstream analytics, analytical tools, and finally, analytics as a service. Organizations adopted the analytics as a service solutions to save time and cost associated with the traditional on-premises analytical and BI platforms. An evolution from on-premises BI platforms to cloud-based BI is marked by the development of analytical tools and advantages, such as effective decision-making processes and enhanced Return on Investment (ROI), for all potential users.