DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Performance Analytics Market by Component, Application, Vertical, Analytics Type, Deployment, Organization Size, Industry - Global Forecast to 2021" report to their offering.
The global performance analytics market size is estimated to grow from USD 1.10 billion in 2016 to USD 2.59 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 18.7%.
Growing need to monitor and measure performance of business functions for optimal resource allocation and elimination of performance bottlenecks have been driving the market growth. Organizations are shifting their focus towards such metrics-driven analytics tools to control operational risks with proactive and strategic decision-making. However, lack of awareness regarding benefits of performance analytics solutions and concerns about positive ROI are the restraining factors for the performance analytics market.
The predictive performance analytics market is estimated to hold the largest market share during the forecast period. Predictive analytics helps to predict future business scenarios with comprehensive analysis of historical as well as present performance data. Predictive model and analysis enable the users to understand probable risks that need to be considered and empower them to enhance enterprise performance at all levels.
North America holds the largest market share in 2016 and the trend is expected to continue in the coming years. The performance analytics market is showing strong positive trends in the region as several companies and industries are adopting performance analytics at various levels as a part of their strategy, in order to strive in the market and to increase their productivity. The APAC region is witnessing increased adoption of performance analytics solutions with growing awareness, massive data surge, and need to provide real-time performance analysis.
- Need to Generate Insights From Continually Rising Volume of the Data
- Rising Prevalence of Metrics Driven Business Performance Assessment
- Technological Advancements in Computing Power
- Lack of Awareness Regarding Positive Impacts of Performance Analytics
- Concerns About Positive Roi
- Emergence of Advanced Vendor Offerings
- Increasing Adoption of Cloud-Based Performance Analytics Solutions
- Privacy and Data Security Concerns
- Lack of Skilled Analytical Workforce
- Adaptive Insights
- Callidus Software Inc.
- International Business Machines Corporation
- Nice Systems Inc.
- Oracle Corporation
- Prophix Software, Inc.
- Quantros, Inc.
- SAP SE
- SAS Institute, Inc.
- Servicenow, Inc.
- Siemens AG
- Tagetik Software Srl
- Tidemark Systems, Inc.
- Xactly Corporation
For more information about this report visit http://www.researchandmarkets.com/research/7m5qqh/performance