Global $2.59 Billion Performance Analytics Market, 2021 by Component, Application, Vertical, Analytics Type, Deployment, Organization Size, Industry - Research and Markets

DUBLIN--()--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.

Market Dynamics

Drivers

  • Need to Generate Insights From Continually Rising Volume of the Data
  • Rising Prevalence of Metrics Driven Business Performance Assessment
  • Technological Advancements in Computing Power

Restraints

  • Lack of Awareness Regarding Positive Impacts of Performance Analytics
  • Concerns About Positive Roi

Opportunities

  • Emergence of Advanced Vendor Offerings
  • Increasing Adoption of Cloud-Based Performance Analytics Solutions

Challenges

  • Privacy and Data Security Concerns
  • Lack of Skilled Analytical Workforce

Companies Mentioned

  • Adaptive Insights
  • Callidus Software Inc.
  • International Business Machines Corporation
  • Nice Systems Inc.
  • Optymyze
  • 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

Contacts

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Related Topics: Data Analytics

Contacts

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Related Topics: Data Analytics