Reports And Data
Dark Analytics Market Size – USD 421.8 Million in 2019, Market Growth – CAGR of 24.9%, Market Trends – Advent of digitization has increased e-commerce sales.
NEW YORK, NY, UNITED STATES, August 10, 2022 /EINPresswire.com/ — Adoption of artificial intelligence and machine learning for dark data analysis is propelling the market growth.
The Global Dark Analytics market is forecasted to reach USD 2,269.9 Million by 2028, according to a new report by Reports and Data. Data Analytics refers to the use of dark data to analyze and provide insights about customers, markets, and organizations. Dark data refers to the unused digital information. Employees, consumers, and businesses provide various information using sources like social media, IoT, financial transactions, and so on. From the data, relevant information is stored and used by interested users. But a section of unused data; the left behind is referred to as ‘dark’ data. By using machine learning and artificial intelligence, the largely unusable data can be structured and put that in order to make it more usable. The market for dark analytics is influenced by the increasing adoption of dark analytics in the healthcare sector.
The factors mentioned above collectively create opportunities for market growth, while factors such as non-uniformity of data and lack of skilled personnel in the market pose limitations in the market. However, each factor would have a definite impact on the market during the forecast period. Consistent advancements in the information and communications technology market owing to innovative efforts have enhanced the efficiency of the dark analytics market.
The Asia Pacific is a key region for the dark analytics market, and it is projected to grow at the highest rate during the forecast period owing to the increasing number of market players opting for analytical solutions and number of small and medium-sized enterprises implementing data analytics in the region.
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Further key findings from the report suggest
• On the basis of component, the solutions type segment held a larger market share of 60.4% in the year 2019. The growth is attributed to the increasing adoption of dark analytics tools that include IBM Watson, SAP HANA 2, Datumize Observer, Apache Hadoop, and Microsoft Cognitive Services. These tools possess features, such as video and sound analytics, machine learning, computer vision, and advanced pattern recognition.
• The on-premise segment is forecasted to grow with a higher CAGR of 25.3% during the forecast period. This is due to the rising security concerns across the BFSI and healthcare sectors and increasing regulation across telecommunication sectors.
• The marketing business application segment held the largest market share of 43.3% in the year 2019. Marketing is one of the vital business applications of any organization. The company’s marketing activity generates enormous customer data through sources, such as sales records, social media, websites, and cellphones. This stored data holds the potential to be a company’s most vital marketing resource, using which a company can create scalable and repeatable marketing processes.
• The Asia Pacific region is forecasted to grow with the highest CAGR of 25.8% during the forecast period. Countries such as India, China, Indonesia, Australia, and Malaysia have a high demand for data and analytics tools and platforms, which will increase the demand for dark analytics during the forecast period.
• Key participants include Microsoft, AvePoint, Teradata, Symantec, Datameer, IBM, SAP SE, Amazon Web Services, Micro Focus, and Dell EMC, among others.
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For the purpose of this report, Reports and Data have segmented into the global Dark Analytics market on the basis of component, deployment type, business application, end-use industry, and region:
Component Outlook (Revenue, USD Billion; 2020-2028)
Deployment Type Outlook (Revenue, USD Billion; 2020-2028)
Business Applications Outlook (Revenue, USD Billion; 2020-2028)
• Human Resources
End-Use Industry Outlook (Revenue, USD Billion; 2020-2028)
• Retail & E-Commerce
• Travel & Hospitality
Regional Outlook (Revenue, USD Billion; 2020-2028)
• North America
• Asia Pacific
• Latin America
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