Performance Analytics Market Trend Outlook, Deployment Type and Business Opportunities
Market Highlights
Market Research Future (MRFR) in its current
“Performance Analytics Market” report states that the market is expected to
increase to a size of about USD 4 billion by 2022 and is likely to expand with
a CAGR of 20% CAGR during forecast years of 2016 to 2022.
Market Scenario
Performance analytics is the methodology that is used
to line up an organization’s resources to achieve operational and performance
goals. Benefits of implementing performance analytics are multiple. Quality
assurance and ability of performance analytics to cut down operational costs
are major gains from the methodology. These are also considered as factors that
are likely to cast a positive impact on the global market of performance analytics
market. Another important cause that is contributing to the fast paced growth
of the market is the rise in the requirement to meet deadlines. The increase in
demand for better searching better resources, surge in the need to get an
overall quality development, and to derive powerful insights from the
increasing volume of data are other factors that are expected to escalate the
expansion of the worldwide performance analytics market.
On the downside, problems regarding security and
privacy of data can hinder the market expansion. Issues regarding error prone
databases are also expected to interfere the expansion of the performance
analytics market. However, the use of various analytical solution, such as data
analytics and web analytics among others are expected to counter the market
slow down. Hence, the overall health of the performance analytics market is
expected improve in the years of review.
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Segmentation:
The performance analytics market’s is done based on
deployment, component, application, and vertical. By component, the market is
segmented into software and service. By deployment, the market is split into
On-premises and Software-as-a-Service. By application, the market is classified
into sales analytics, marketing analytics, supply chain analytics, financial
analytics, vertical, BFSI, it & telecommunications, retail, government,
transportation, employee analytics, it analytics energy & utilities,
healthcare, and others.
Detailed Regional
Outlook
The worldwide market of performance analytics is
studied for regions that include North America, APAC, Europe, and the Rest of
the World (RoW). The APAC performance analytics market is accounted for the
major share of the global performance analytics market. The market in the Asia
Pacific is expected to show a healthy growth in the review period. On detailed
analysis of the performance analytics market, MRFR reveals that the North
America market is expected to generate significant revenue in the years of
analysis. It is due to increase in number of potential players of the market
that are present in the region. In addition, high investments are made by the
government and reputed organization in integrating cloud-based solutions and
the surge in the rate of adoption of emerging technologies are expected to
upscale the performance analytics market in the North American region.
The market in the Asia Pacific is expected to grow
with an excellent pace owing to the rapid adoption of advanced technologies and
the cost-effective performance analytics methodology by the small scale and
medium scale businesses.
Market Key
Players
Market Research Future enlisted key marketers that are
functioning in the global performance analytics market, which includes;
Adaptive Insights (U.S.), Siemens AG (Germany), Oracle Corporation (U.S.),
Xactly Corporation (U.S.), SAS Institute Inc. (U.S.), SAP SE (Germany),
Callidus Software, Inc. (U.S.), Optymyze (U.S.), Service Now, Inc (U.S.),
IBM Corporation (U.S.), and others.
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Global
Performance Analytics Market, By Component (Software, Services), By Application
(Sales, Marketing, Supply Chain), By Deployment (On-premises,
Software-as-a-Service), By Vertical (BFSI, Retail, IT & Telecommunications)
- Forecast 2022
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