Advanced Analytics Market

Advanced Analytics Market

Advanced Analytics Market Forecasts to 2030 - Global Analysis By Type (Text Analytics, Statistical Analytics, Risk Analytics and Other Types), Deployment Mode (Cloud and On-premises), Offering (Software and Service), Business Function (Human Resources, Finance & Accounting, Operations & Supply Chain, Sales & Marketing and Other Business Functions), Application and By Geography

4.9 (56 reviews)
4.9 (56 reviews)
Published: 2023 ID: SMRC23879

This report covers the impact of COVID-19 on this global market

According to Stratistics MRC, the Global Advanced Analytics Market is accounted for $49.02 billion in 2023 and is expected to reach $166.64 billion by 2030 growing at a CAGR of 19.1% during the forecast period. Advanced analytics refers to a collection of cutting-edge methods and tools for data analysis and interpretation that can be used to predict future outcomes or trends, gain useful insights, and make well-informed decisions. It includes a variety of more complex techniques for deriving meaning from data, going beyond traditional descriptive analytics. Many industries and fields use advanced analytics regularly to gain a competitive advantage, improve workflows, and resolve challenging issues.

According to a blog by Usabilla in June 2020, the top 100 organizations are 50% more likely to address customer empowerment as a key parameter for business growth. The blog also stated that 92% of leaders had employed advanced digital transformation strategies to enhance customer experience.

Market Dynamics:


Increasing digital data production and digitization trends

Over the past few decades, there has been a sharp increase in the production of digital data. The increased use of digital devices, such as smartphones and computers, in everyday life by regular people is one of the main causes of this spike in the generation of digital data. The Internet of Things' (IoT) rising popularity and the data generated by numerous IoT devices have also contributed to the data boom. Additionally, the use of digital operations makes advanced analytics solutions possible. The adoption of digital transformation in retail and e-commerce businesses has decreased operating costs, positively affecting market growth.


Complexity and regulatory compliance

Complex algorithms and technologies are frequently used in advanced analytics. It can be difficult to integrate these solutions into an already-existing IT infrastructure and may call for intensive customization and integration work. Additionally, there are stringent regulatory requirements that govern the use of data and analytics in some sectors, including healthcare and finance. It can be challenging to balance these demands with the benefits that advanced analytics can provide.


Rising use of advanced technologies

It is expected that with rising globalization and economic growth, the demand for advanced analytics solutions will increase. The increasing touchpoints and the need for collecting data in order to understand consumer behavior are also projected to boost market size. Patients with chronic illnesses and disabilities, including spinal cord injuries, experience bowel incontinence more severely, which is anticipated to drive the advanced analytics market.


Data breaches and security problems

Data exchanges are a major concern for data-sensitive organizations in industry verticals like banking, financial services, and insurance (BFSI), which deals with individual data, and healthcare, which deals with centralized data and is more vulnerable to cyberattacks. To protect the security of customer information, these businesses must exercise extreme caution. Robust security measures are a priority because data breaches affect an organization's identity and security. The harm caused by the leak of sensitive information that is impeding the market in some nations is partially the responsibility of the relevant organizations.

Covid-19 Impact

The COVID-19 pandemic had a positive effect on the market for advanced analytics, which displayed positive growth during the time due to an increase in demand for analytics tools and services as companies sought to improve their online services and offerings. Additionally, the COVID-19 pandemic's rise in demand for work-from-home and remote working policies helped to spur the development of global data analytics and remote management solutions, thereby bolstering demand for the entire advanced analytics industry.

The big data analytics segment is expected to be the largest during the forecast period

It is anticipated that big data analytics will maintain its lead throughout the forecast period. The development of social media platforms and the appearance of online businesses that generate massive amounts of data are both responsible for the segment's growth. SaaS-based big data analytics have also made it easier to install automation and allowed for the self-service construction of effective analytical models. Additionally, big data service providers have increased their investments in cloud technologies in response to the growing demand for big data analytics solutions.

The On-premise segment is expected to have the highest CAGR during the forecast period

The On-premise segment is expected to experience rapid growth. With on-premise solutions, businesses can more easily customize their IT infrastructure, reduce their reliance on the internet, and safeguard sensitive company information from fraud and theft. These benefits are anticipated to influence major organizations to opt for on-premise deployment. Furthermore, businesses in the BFSI sector prefer the on-premise solution due to growing concerns about frauds like new account fraud and account takeovers. On-premise businesses are less susceptible to these frauds, which is encouraging for the sector's expansion.

Region with largest share:

The largest region for Advanced Analytics is anticipated to be North America during the forecast period due to its advanced technology, developed business environment, and widespread adoption of data-driven strategies. A vibrant environment for the creation of cutting-edge analytics solutions is fostered by the concentration of technology behemoths, creative startups, and esteemed research institutions. Finance, healthcare, and retail are just a few of the sectors in the area that heavily rely on advanced analytics to streamline operations and extract knowledge from their data. Additionally, the region's focus on leveraging data assets and innovation hubs positions North America as a market-moving force.

Region with highest CAGR:

During the projected period, the Asia-Pacific advanced analytics market is anticipated to grow lucratively. This expansion is attributed to the region's expanding use of big data analytical tools and solutions. Additionally, businesses are expected to invest more in customer analytics in order to increase productivity and success over the course of the forecast period. Additionally, it is predicted that the presence of numerous travel agencies in the region will support the expansion of the advanced analytics market.

Key players in the market

Some of the key players profiled in the Advanced Analytics Market include Altair Engineering, Inc., Alteryx, Inc., Amazon Web Services Inc., Cloudera, Inc., Databricks, Inc., Fair Isaac Corporation (FICO), Google LLC, International Business Machines Corporation, Knime AG, MathWorks, Inc., Microsoft Corporation, MicroStrategy Incorporated, Oracle Corporation, Qlik Technologies Inc., RapidMiner, Inc., SAP SE, SAS Institute Inc., Tableau Software, LLC, Talend Inc., Teradata Corporation, Tibco Software Inc. and Trianz.

Key Developments:

In May 2023, SAP and IBM announced that IBM Watson technology will be embedded into SAP solutions to provide new AI-driven insights and automation.

In March 2023, Google Cloud and Exabeam announced a partnership to help organizations detect and respond to security threats faster and more accurately.

In March 2023, Computer Age Management Services Limited (CAMS), India’s largest registrar and transfer agent of mutual funds, signed a definitive agreement to acquire 55% stake in Mumbai-based AI and data science firm Think Analytics India Pvt Ltd (Think360 AI).

Types Covered:
• Text Analytics
• Statistical Analytics
• Risk Analytics
• Prescriptive Analytics
• Predictive Analytics
• Customer Analytics
• Business Analytics
• Big Data Analytics
• Other Types

Deployment Modes Covered:
• Cloud
• On-premises

Offerings Covered:
• Solutions
• Services

Business Functions Covered:
• Human Resources
• Finance & Accounting
• Operations & Supply Chain
• Sales & Marketing
• Other Business Functions

Applications Covered:
• Automotive & Transportation
• Banking, Financial Services and Insurance (BFSI)
• Healthcare & Life Sciences
• Information Technology Enabled Services
• Manufacturing
• Media & Entertainment
• Military & Defense
• Retail & Consumer Goods
• Telecom
• Other Applications

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026 and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions

3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19

4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global Advanced Analytics Market, By Type
5.1 Introduction
5.2 Text Analytics
5.3 Statistical Analytics
5.4 Risk Analytics
5.5 Prescriptive Analytics
5.6 Predictive Analytics
5.7 Customer Analytics
5.8 Business Analytics
5.9 Big Data Analytics
5.10 Other Types

6 Global Advanced Analytics Market, By Deployment Mode
6.1 Introduction
6.2 Cloud
6.3 On-premises

7 Global Advanced Analytics Market, By Offering
7.1 Introduction
7.2 Solutions
7.3 Services
7.3.1 Professional Services
7.3.2 Managed Services

8 Global Advanced Analytics Market, By Business Function
8.1 Introduction
8.2 Human Resources
8.3 Finance & Accounting
8.4 Operations & Supply Chain
8.5 Sales & Marketing
8.6 Other Business Functions

9 Global Advanced Analytics Market, By Application
9.1 Introduction
9.2 Automotive & Transportation
9.3 Banking, Financial Services and Insurance (BFSI)
9.4 Healthcare & Life Sciences
9.5 Information Technology Enabled Services
9.6 Manufacturing
9.7 Media & Entertainment
9.8 Military & Defense
9.9 Retail & Consumer Goods
9.10 Telecom
9.11 Other Applications

10 Global Advanced Analytics Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa

11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.1 Acquisitions & Mergers
11.1 New Product Launch
11.1 Expansions
11.1 Other Key Strategies

12 Company Profiling
12.1 Altair Engineering, Inc.
12.2 Alteryx, Inc.
12.3 Amazon Web Services Inc.
12.4 Cloudera, Inc.
12.5 Databricks, Inc.
12.6 Fair Isaac Corporation (FICO)
12.7 Google LLC
12.8 International Business Machines Corporation
12.9 Knime AG
12.10 MathWorks, Inc.
12.11 Microsoft Corporation
12.12 MicroStrategy Incorporated
12.13 Oracle Corporation
12.14 Qlik Technologies Inc.
12.15 RapidMiner, Inc.
12.16 SAP SE
12.17 SAS Institute Inc.
12.18 Tableau Software, LLC
12.19 Talend Inc.
12.20 Teradata Corporation
12.21 Tibco Software Inc.
12.22 Trianz

List of Tables
1 Global Advanced Analytics Market Outlook, By Region (2021-2030) ($MN)
2 Global Advanced Analytics Market Outlook, By Type (2021-2030) ($MN)
3 Global Advanced Analytics Market Outlook, By Text Analytics (2021-2030) ($MN)
4 Global Advanced Analytics Market Outlook, By Statistical Analytics (2021-2030) ($MN)
5 Global Advanced Analytics Market Outlook, By Risk Analytics (2021-2030) ($MN)
6 Global Advanced Analytics Market Outlook, By Prescriptive Analytics (2021-2030) ($MN)
7 Global Advanced Analytics Market Outlook, By Predictive Analytics (2021-2030) ($MN)
8 Global Advanced Analytics Market Outlook, By Customer Analytics (2021-2030) ($MN)
9 Global Advanced Analytics Market Outlook, By Business Analytics (2021-2030) ($MN)
10 Global Advanced Analytics Market Outlook, By Big Data Analytics (2021-2030) ($MN)
11 Global Advanced Analytics Market Outlook, By Other Types (2021-2030) ($MN)
12 Global Advanced Analytics Market Outlook, By Deployment Mode (2021-2030) ($MN)
13 Global Advanced Analytics Market Outlook, By Cloud (2021-2030) ($MN)
14 Global Advanced Analytics Market Outlook, By On-premises (2021-2030) ($MN)
15 Global Advanced Analytics Market Outlook, By Offering (2021-2030) ($MN)
16 Global Advanced Analytics Market Outlook, By Solutions (2021-2030) ($MN)
17 Global Advanced Analytics Market Outlook, By Services (2021-2030) ($MN)
18 Global Advanced Analytics Market Outlook, By Professional Services (2021-2030) ($MN)
19 Global Advanced Analytics Market Outlook, By Managed Services (2021-2030) ($MN)
20 Global Advanced Analytics Market Outlook, By Business Function (2021-2030) ($MN)
21 Global Advanced Analytics Market Outlook, By Human Resources (2021-2030) ($MN)
22 Global Advanced Analytics Market Outlook, By Finance & Accounting (2021-2030) ($MN)
23 Global Advanced Analytics Market Outlook, By Operations & Supply Chain (2021-2030) ($MN)
24 Global Advanced Analytics Market Outlook, By Sales & Marketing (2021-2030) ($MN)
25 Global Advanced Analytics Market Outlook, By Other Business Functions (2021-2030) ($MN)
26 Global Advanced Analytics Market Outlook, By Application (2021-2030) ($MN)
27 Global Advanced Analytics Market Outlook, By Automotive & Transportation (2021-2030) ($MN)
28 Global Advanced Analytics Market Outlook, By Banking, Financial Services and Insurance (BFSI) (2021-2030) ($MN)
29 Global Advanced Analytics Market Outlook, By Healthcare & Life Sciences (2021-2030) ($MN)
30 Global Advanced Analytics Market Outlook, By Information Technology Enabled Services (2021-2030) ($MN)
31 Global Advanced Analytics Market Outlook, By Manufacturing (2021-2030) ($MN)
32 Global Advanced Analytics Market Outlook, By Media & Entertainment (2021-2030) ($MN)
33 Global Advanced Analytics Market Outlook, By Military & Defense (2021-2030) ($MN)
34 Global Advanced Analytics Market Outlook, By Retail & Consumer Goods (2021-2030) ($MN)
35 Global Advanced Analytics Market Outlook, By Telecom (2021-2030) ($MN)
36 Global Advanced Analytics Market Outlook, By Other Applications (2021-2030) ($MN)

Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

List of Figures


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.

Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.

For more details about research methodology, kindly write to us at

Frequently Asked Questions

In case of any queries regarding this report, you can contact the customer service by filing the “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: or phone: +1-301-202-5929

Yes, the samples are available for all the published reports. You can request them by filling the “Request Sample” option available in this page.

Yes, you can request a sample with your specific requirements. All the customized samples will be provided as per the requirement with the real data masked.

All our reports are available in Digital PDF format. In case if you require them in any other formats, such as PPT, Excel etc you can submit a request through “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: or phone: +1-301-202-5929

We offer a free 15% customization with every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at or call us on +1-301-202-5929.

We have 3 different licensing options available in electronic format.

  • Single User Licence: Allows one person, typically the buyer, to have access to the ordered product. The ordered product cannot be distributed to anyone else.
  • 2-5 User Licence: Allows the ordered product to be shared among a maximum of 5 people within your organisation.
  • Corporate License: Allows the product to be shared among all employees of your organisation regardless of their geographical location.

All our reports are typically be emailed to you as an attachment.

To order any available report you need to register on our website. The payment can be made either through CCAvenue or PayPal payments gateways which accept all international cards.

We extend our support to 6 months post sale. A post sale customization is also provided to cover your unmet needs in the report.

Request Customization

We provide a free 15% customization on every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at or call us on +1-301-202-5929.

Note: This customization is absolutely free until it falls under the 15% bracket. If your requirement exceeds this a feasibility check will be performed. Post that, a quote will be provided along with the timelines.


Assured Quality

Assured Quality

Best in class reports with high standard of research integrity

24X7 Research Support

24X7 Research Support

Continuous support to ensure the best customer experience.

Free Customization

Free Customization

Adding more values to your product of interest.

Safe and Secure Access

Safe & Secure Access

Providing a secured environment for all online transactions.

Trusted by 600+ Brands

Trusted by 600+ Brands

Serving the most reputed brands across the world.