Performance Analytics Market Analysis, Opportunity Assessment and Competitive Landscape

 

Market Highlights

The increasing need to meet deadlines, high demand for cost-effective analytical solutions, increasing need by enterprises to improve quality and reduction of time to create strategies are the reasons boosting the growth of the performance analytics market.

Performance analytics can be defined as the method through which an enterprise can accumulate their resources to attain performance as well as functional objectives. The advantages of deploying performance analytics are promising quality and strategizing aims for the enterprise to reduce operational expenses. As per the analysis by Market Research Future Reports (MRFR), worldwide performance analytics is estimated to value approximately USD 4 billion by the end of 2022 with a CAGR of 20% during the review period from 2016 to 2022. The factors adding to the expansion of the performance analytics market 2020 are rising demand for improvement of resources, growing need to meet deadlines, growth in overall quality and to produce insights from the growing volume of data. However, concerns concerning privacy, security and error-prone databases are the causes of obstruction of the expansion of the performance analytics market. Several analytical methods are implemented nowadays such as data analytics, web analytics, among others. Hence, the performance analytics market is likely to expand fast during the review period.

The worldwide performance analytics market is likely to expand significantly. The market’s retail and BFSI sector of performance analytics market worldwide is affecting the market. The market is estimated to display a high rate of growth as compared to the records of the previous years.

Several organizations like the Association of Clinical Research Professionals (ACRP) are spending to implement performance analytics in an enterprise for the assurance of quality. Nowadays, the analytical methods have been put to use with tools like data analytics, social media analytics, web analytics, among others. The objective of analytics is to predict the future. Hence, the market is likely to expand during the forecast period from 2016 to 2022.

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Segmentation:

The global performance analytics market is classified into application, component, vertical, region, and deployment.

On the basis of application, the market can be divided into sales analytics, marketing analytics, supply chain analytics, financial analytics, employee analytics, IT analytics and others.

On the basis of components, the market can be classified into service and software.

On the basis of vertical, the market can be classified into BFSI, IT and Telecommunications, retail, healthcare, government, government, transportation, energy and utilities, and others.

On the basis of region, the market can be divided into North America, Europe, Asia-Pacific and the Rest of the World (RoW). 

On the basis of deployment, the market can be classified into on-premise and software as a service.

Regional Analysis 

The global performance analytics market is expected to grow significantly. The market is highly application basis. Retail and BFSI segment of performance analytics market globally drives the market. The market is expected to have higher growth rate as compared to the previous years.

North-America accounted for the largest market share because of technological advancements, increasing demand by various sectors, large investments by developers for cloud based solutions and increasing number of large players.

However, Asia-Pacific region is expected to grow over the forecast period, 2016-2022. The reason of this growth is attributed to rapid digital transformation in various countries such as China and increasing demand for performance analytics solution by small & medium scale enterprises.

Key Players

The major players in the worldwide performance analytics market consist of  Service Now, Inc (U.S.), Adaptive Insights (U.S.),  Siemens AG (Germany), Xactly Corporation (U.S.), SAP SE (Germany), Oracle Corporation (U.S.), Optymyze (U.S.), SAS Institute Inc. (U.S.), IBM Corporation (U.S.), Callidus Software, Inc. (U.S) and few others.

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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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