DUBLIN--(BUSINESS WIRE)--The "Dark Analytics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The dark analytics market is anticipated to register a CAGR 21.7% of over during the forecast period (2021 - 2026).
- IBM Corporation
- SAP SE
- Amazon Web Services Inc.
- Micro Focus International PLC
- Microsoft Corporation
- SAS Institute
- Teradata Corporation
- Hewlett-Packard Enterprise Company
- Oracle Corporation
Key Market Trends
Retail and E-commerce to Hold Significant Growth
- The retail and e-commerce vertical is expected to experience high growth during the forecast period. In retail industries, data is being generated through multiple customer touchpoints. In addition to this, the advent of digitization has increased e-commerce sales, which has led to the generation of a large volume of dark data. This dark data could provide vital insights to retailers. The analysis of this dark data provides growth opportunities for retailers and assists retailers to strengthen their presence in the competitive environment.
- Retailers almost globally recognize that digital transformation has reshaped customer behavior and shopping. In fact, USD 0.56 of every dollar spent in a store is influenced by a digital interaction. In recent years, however, growing numbers of retailers have begun exploring different approaches to developing digital experiences. Some are analyzing previously dark data culled from customers' digital lives and using the resulting insights to improve merchandising, marketing, customer service, and even product development strategies that offer shoppers a targeted and individualized customer experience.
- Grocery stores such as Amazon and Kroger Co. employ advanced analytics using IoT to keep track of their customer's choices and products based on their regularity. Using this data, enterprises are providing tailor-made product deals, merchandising, marketing, and even product development strategies. Also, Stitch Fix, an online subscription shopping service, uses images from social media and other sources to track emerging fashion trends and evolving customer preferences.
North America to Hold Largest Share
- North America is estimated to account for the largest share of the dark analytics market in 2018. Countries in the region are early adopters of dark analytics technology. Moreover, the region is among the lead innovators and pioneers, in terms of adoption, of analytics. The region has a strong foothold of analytics vendors, which adds to the growth of the market. Some of them include IBM Corporation, Microsoft Corporation, and SAS Institute, Inc., among others.
- In North America, various dark analytics startups are providing services to multiple industries. In addition, leading analytics and cloud service providers are based in this region. The emergence of machine learning and AI technology, widespread adoption of IoT, and rapid growth in business applications are some of the other key factors fueling the global dark analytics market.
- The region is also witnessing an increase in adoption of dark analytics solutions being adopted by governments and large enterprises to improve their decision-making process. Moreover, the region is witnessing an increase in data through the e-commerce industry. According to the US Commerce Department, the e-commerce industry in the country rose by over 40% in 2017. As a result, the use of dark analytics is also expected to rise significantly among US retailers.
- The Canadian e-commerce industry also offers potential opportunities for boosting the demand for big data analytics. In 2017, the Canadian B2C e-commerce turnover grew by 9%, to reach USD 20.2 billion (according to E-commerce Foundation). In 2017, the IT investment in the healthcare industry rose by over 150%, as compared to 2013. As a result, it is expected to enhance dark analytics adoption in the healthcare sector in the United States, thus, having a positive impact on the market's growth.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Adoption Rates of Machine Learning and Artificial Intelligence
4.2.2 Rapid Growth in Generated Data Volume and Variety Owing to Adoption of IoT
4.3 Market Restraints
4.3.1 Security Concerns
4.4 Industry Attractiveness - Porter's Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Type of Analytics
5.2 By End-user Vertical
5.2.5 Retail & E-commerce
5.2.6 Other End-user Verticals
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/b5tuk0