Performance Analytics Market 2022-2027: Current Trends, Industry Size, Growth Factors and Business Opportunities
According to IMARC Group latest report titled “Performance Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on performance analytics market outlook. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global performance analytics market size reached US$ 2.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 7.5 Billion by 2027, exhibiting a growth rate (CAGR) of 19.31% during 2022-2027.
Performance analytics analyzes and collects information to meet business objectives and projections. It generally includes key performance indicators (KPIs), embedded dashboards, purpose-built metrics to measure and accelerate data, etc. Performance analytics offers real-time visibility for instant insights into current patterns and trends, thereby enhancing decision-making. As such, it is extensively utilized by various organizations to aggregate, track, and visualize KPIs. In line with this, performance analytics finds applications to share up-to-date visualizations, anticipate trends, identify areas for improvement, etc.
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Market Trends:
The rising consumer inclination towards online banking solutions is creating huge amount of financial data, which is primarily driving the performance analytics market. Additionally, the expanding banking, financial services and insurance (BFSI) sector and the widespread product adoption by small and medium-sized enterprises (SMEs) to understand customer needs and behavior, enable actionable insights, gain a competitive edge, etc., are further catalyzing the market growth. Besides this, the escalating demand for performance analytics that provides fast closing times, tight controls and auditability, real-time consolidation, elimination of manual errors, etc., is acting as another significant growth-inducing factor. Moreover, the growing utilization of this system by healthcare organizations to enhance transparency in clinical outcomes and make timely, strategic, and operational decisions using highly reliable data, owing to the increasing access to medical services, is also bolstering the global market. Apart from this, the inflating popularity of e-learning solutions, on account of the sudden outbreak of the COVID-19 pandemic, is projected to fuel the performance analytics market in the coming years.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- International Business Machines Corporation
- Microsoft Corporation
- Optymyze, Oracle Corporation
- Prophix Software Inc.
- SAP SE
- SAS Institute Inc.
- Servicenow Inc.
- Siemens AG
- Workday Inc.
- Xactly Corporation
Performance Analytics Market Segmentation:
Our report has categorized the market based on region, component, deployment mode, organization size and industry vertical.
Breakup by Component:
- Solution
- Service
Breakup by Deployment Mode:
- On-premises
- Cloud-based
Breakup by Organization Size:
- Large Enterprises
- Small and Medium Enterprises
Breakup by Application:
- Financial Performance
- Sales and Marketing Performance
- IT Operations Performance
- Supply Chain Performance
- Employee Performance
- Others
Breakup by Industry Vertical:
- BFSI
- IT and Telecom
- Retail
- Government and Defense
- Healthcare
- Manufacturing
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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