Portland, OR , June 01, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global embedded analytics market generated $25.13 billion in 2016, and is estimated to reach $60.28 billion by 2023, registering a CAGR of 13.6% from 2017 to 2023. The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenario.

Rise in adoption of integrated analytics into various business applications and surge in the importance of big data and IoT among organizations drive the growth of the global embedded analytics market. However, high investment costs and lack of analytical knowledge may hinder the market growth. On the other hand, rising demand for standalone self-service analytics tools and real-time visualization tools in business applications create new opportunities in the coming years.

Covid-19 scenario:

  • The software tools based on embedded analytics help government to provide relevant information about Covid-19.
  • The embedded analytical tools help users to work smarter and more efficiently during work from home.

The report offers a detailed segmentation of the global embedded analytics market based on deployment model, business application, analytics tool, industry vertical, and region.

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Based on deployment model, the cloud-based deployment model segment contributed to the largest share in 2016, and is estimated to maintain its dominant position during the forecast period. In addition, this segment is expected to register the highest CAGR of 14.2% from 2016 to 2023. The report also analyzes the on-premise deployment model segment.

Based on business application, the sales & marketing segment accounted for the largest share in 2016, and is expected to maintain the largest share throughout the forecast period. In addition, this segment is expected to register the highest CAGR of 13.1% from 2016 to 2023. The report also analyzes the finance segment during the forecast period.

Based on region, North America contributed the highest share of the total market share in 2018, and will maintain its dominance throughout the forecast period. In addition, the report also analyzes regions such as Europe, Asia-Pacific, and LAMEA from 2020 to 2027.

Leading market players analyzed in the research include Birst, Inc., Information Builders., Microsoft Corporation, Opentext Corporation, SAP SE, International Business Machines Corporation, Logi Analytics, Microstrategy Inc., Qlik Technologies, and Tibco (The Information Bus Company) Software Inc.

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