Increasing Dependency on Big Data Repositories Fuels APA Market Growth

April 25, 2017 — According to Persistence Market Research report, titled “Global Market Study on Advanced and Predictive Analytics (APA) Software: Impelled by Deployment of Big Data Repositories”, the global advanced and predictive analytics (APA) software market is projected to exhibit a healthy CAGR of 8.6%, accounting for US$ 10,751.1 million in the forecast period from 2015 to 2020.

Data scientists’ emergence as a group of highly expert professionals in the global industry of information technology will work in accordance with the deployment of APA software market. The rising emergence of business models that are internet-based are projected to generate more opportunities for APA software market. Moreover, the market for APA software is described by the introduction of various new APA software generations that helps in extracting and analyzing data from complex groups of information which uses algorithms and building models of their own. The capability of APA software for carrying out granular analysis of data and providing deeper knowledge of data are certain key factors boosting the market growth of APA software.

The global APA software market is categorized into end user type and regions. Based on end user type, the global APA software market is sub-segmented as insurance, pharmaceuticals, retail, healthcare, media & entertainment, engineering &construction, sports, banking & finance, government & public administration, telecom & it predictive, transportation &logistics, manufacturing, energy, and tourism. Among these, the extensive usage of APA software by the BFSI and retail segments make them most dominant market in the global market for APA software. While the data volume generated by several other sectors including healthcare, education and manufacturing is on demand which necessitates the APA deployment and thus these segments are anticipated to maximum growth in the forecast period from 2015 to 2020. Segments of retail, manufacturing, government sectors, BFSI and logistics are seeing maximum adoption of APA software owing to make analysis and then take decision with unparalleled scalability, performance and efficiency. Moreover, apart from this, the global market for APA software market is gaining power in healthcare and education sectors. And in these sector, the APA software advantages is driving the market growth.

Regionally, the segmentation is done into North America, Europe, APAC, Latin America and MEA. Among these regions, the North America region was the market leader for APA software exhibiting 46.3% market share of the overall APA software market. And this market share is mainly associated with the wide adoption of solutions related with business intelligence across several sectors including BFSI, IT & telecom and retail in this region. Also, in the APAC region including Japan, the APA software adoption will be higher in various countries viz.  China, Singapore, Philippines, Japan and South Korea.

Some of the key players operating in the global market for APA software include SAS Institute Inc., SAP AG, Information Builders, Teradata Corporation, Oracle, IBM, Microsoft Corporation, Tableau Software Inc., FICO, Acxiom and TIBCO Software, among others.

Over the forecast period, the APA software deployment in healthcare, education and manufacturing sector will drive the market growth of the APA software globally.

Summary: Global APA software market is impelled by deployment of big data repositories.

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Source: Persistence Market Research