Pune, Feb. 27, 2025 (GLOBE NEWSWIRE) -- Data Analytics Market Size Analysis:

“The Data Analytics Market size was USD 52.68 Billion in 2023 and is expected to reach USD 483.41 Billion by 2032, growing at a CAGR of 28.0% over the forecast period of 2024-2032.”

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Major Players Analysis Listed in this Report are:

Data Analytics Market Report Scope:

Report Attributes	Details
Market Size in 2023	US$ 52.68 Billion
Market Size by 2032	US$ 483.41 Billion
CAGR	CAGR of 28.0 % From 2024 to 2032
Base Year	2023
Forecast Period	2024-2032
Historical Data	2020-2022
Key Regional Coverage	North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe [Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]). Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America)
Key Growth Drivers	Growing Adoption of Advanced Technologies like Artificial Intelligence, Machine Learning, and Big Data Analytics Fuels Data Analytics Market Growth

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Key Growth Factors Driving the Data Analytics Market

By Industry, IT & Telecom Lead, While Healthcare Poised for Rapid Growth

In 2023, the IT & Telecom sector dominated the data analytics market, leveraging AI and ML-driven solutions for network optimization, customer engagement, and operational efficiency. Companies like Cisco and IBM are improving performance with machine-learning integrated analytics. On the application front, the healthcare sector is anticipated to witness the highest CAGR due to advancements in predictive modeling, patient monitoring, and personalized treatment. The data-driven insights are driving digital transformation in the sector, providing better care for patients and improving operational workflows. With both the industry embracing analytics, the adoption continues to mold the future of the data analytics market.

By Type, Predictive Analytics Dominates the Market, While Customer Analytics Sees the Fastest Growth

In 2023, Predictive Analytics held a dominant 32% market share, helping industries forecast trends and mitigate risks. Businesses across finance, retail, and healthcare increasingly rely on predictive models for strategic decision-making. Meanwhile, Customer Analytics is anticipated to showcase the maximum CAGR of 30.38% owing to the growing demand for consumer behavior data & personalized marketing. Salesforce and Adobe driven platforms powered by AI are catalysing this growth, which allows businesses to improve customer engagement and customer retention. Both sectors continue to shape the evolutionary growth of the data analytics market with companies becoming data-driven in the digital transformation age.

Data Analytics Market Segmentation:

By Type

By Solution

By Application

By Industry

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By Solution, Security Intelligence Dominates the Market, While Data Mining Grows Rapidly

In 2023, Security Intelligence held the largest market share, driven by rising cybersecurity threats and the adoption of advanced security analytics tools in the banking, healthcare, and government sectors. This drives organizations to look for real-time threat detection and risk mitigating products. On the other hand, Data Mining will achieve the highest CAGR during the forecast period as the organizations are looking for AI-based insights over massive data sets. Machine learning and predictive analytics are increasingly being used by organizations to reveal patterns in large datasets, enabling them to streamline their operations and make better data-driven decisions.

By Application, Supply Chain Management Dominates the Market, While ERP Set for Rapid Growth

In 2023, Supply Chain Management (SCM) dominated the data analytics market, with industries leveraging analytics for inventory optimization, logistics, and demand forecasting. SAP, IBM and others launched AI-powered SCM tools in their offerings to improve efficiency and support real-time decision making on the shop floor, among others. The Enterprise Resource Planning (ERP) segment is expected to record the highest compound annual growth rate (CAGR) during the forecast period due to increasing adoption of integrated, data-driven management solutions by organizations.

By Region, North America Dominates the Market, While Asia Pacific Sees Fastest Growth

In 2023, North America dominated the data analytics market, holding 32% of the global share, driven by advanced infrastructure, AI adoption, and digital transformation investments. Tech hubs like Silicon Valley and Toronto foster innovation, with industry leaders like IBM, Microsoft, and Google enhancing AI-powered analytics solutions. Meanwhile, Asia Pacific is the fastest-growing region, with a projected CAGR of 29.84%, fueled by smart city projects, IT sector expansion, and rising demand for data-driven solutions in healthcare, finance, and manufacturing. The surge in e-commerce, fintech, and IoT adoption further accelerates the region’s market growth.

Recent Developments

Table of Contents – Major Key Points

1. Introduction

2. Executive Summary

3. Research Methodology

4. Market Dynamics Impact Analysis

5. Statistical Insights and Trends Reporting

6. Competitive Landscape

7. Data Analytics Market Segmentation, By Industry

8. Data Analytics Market Segmentation, By Type

9. Data Analytics Market Segmentation, By Solution

10. Data Analytics Market Segmentation, By Application

11. Regional Analysis

12. Company Profiles

13. Use Cases and Best Practices

14. Conclusion

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