Data and Analytics Market Size and Forecast (by Country, IT Solution Area, Size Band and Vertical) to 2027
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Data and Analytics Market Overview
The global data and analytics market size was valued at US$ 100.84 billion in 2022 and will grow at a compounded annual growth rate (CAGR) of 12.85% to reach US$ 184.53 billion by 2027. The cumulative revenue generation for data and analytics providers is estimated at US$ 2217.09 billion for 2022-2027.
Data and Analytics Market Outlook, 2022-2027 (US$ Billion)
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The ‘Data and Analytics Market’ opportunity forecast report provides the total addressable market for data and analytics solutions from 2019 to 2027.
Market Size (2022) | US$ 100.84 billion |
Market Size (2027) | US$ 184.53 billion |
CAGR (2022-2027) | 12.85% |
Key Segments | · Big Data Platforms
· Business Intelligence and Data Discovery Tools · Data and Content Management |
Key Regions | · North America
· South & Central America · Western Europe · Central & Eastern Europe · Middle East & Africa · Asia Pacific |
Key Verticals | · Manufacturing
· Information Technology · Retail · Retail Banking · Government · Insurance · Transport and Logistics · Healthcare · Construction · Energy · Consumer Goods · Financial Markets · Utilities · Communication · Education · Foodservice · Travel and Leisure · Media · Pharmaceuticals · Mining · Medical Devices · Others |
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Data and Analytics Market Segmentation by Region
The data and analytics market is geographically segmented into North America, South and Central America, Western Europe, Central and Eastern Europe, Middle East Africa, and the Asia Pacific.
The Asia Pacific region dominated the data and analytics market with a revenue share of 34.0% in 2022. Undoubtedly, China held the largest market share of 31.9% in this region. On the other hand, North America and Western Europe held the second and third positions with 32.7% and 17.0% of market shares, respectively.
Data and Analytics Market Share by Region, 2022 (%)
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Data and Analytics Market Segmentation by Vertical
Manufacturing, information technology, retail, retail banking, insurance, government, construction, transport and logistics, healthcare, and energy are a few of the key end-use industries making use of data and analytics in their operations. In terms of vertical end-use segments, the manufacturing sector held the highest market share of 9.3%, followed by the information technology sector.
The aata and analytics market for the energy sector is expected to be the fastest-growing segment, recording an estimated CAGR of 16.15%, during the forecast period.
Data and Analytics Market Share by Verticals, 2022 (%)
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Data and Analytics Market - Competitive Landscape
A few of the major players significantly impacting the data and analytics market are Microsoft Corporation, Oracle Corporation, IBM Corporation, Alteryx Inc., and SAS Institute among others.
Leading Data and Analytics Companies
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Scope
This product provides revenue opportunity forecasts in the data and analytics market from 2019 to 2027, spanning 52 geographical markets, 6 regions, and 22 verticals.
Key Highlights
- The global data and analytics market is expected to grow at a CAGR of 12.85% over the forecast period.
- Asia Pacific will hold the highest market share of 34.0% in the data and analytics market over the forecast period. North America and Western Europe will follow with market shares of 32.7% and 17.0%, respectively. The Middle East, Africa, Central and Eastern Europe, and South and Central America together are expected to account for the remaining market share of 16.3%.
Reasons to Buy
- Access the current state and expected growth (next 5 years) of the data and analytics
- Determine lucrative sectors for data and analytics, considering their current contribution to the overall data and analytics market and their expected input toward the market growth over the next 5 years.
- Identify the geographies/countries that would contribute to the data and analytics market growth over the next 5 years.
Frequently asked questions
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What was the data and analytics market size in 2022?
The data and analytics market size was estimated at US$ 100.84 billion in 2022 and is expected to reach US$ 112.25 billion in 2023.
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What will the data and analytics market growth be by 2027?
The data and analytics market is expected to grow at a compound annual growth rate of 12.85% over the forecast period to reach US$ 184.53 billion by 2027.
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Which industry vertical led the data and analytics market in 2022?
The manufacturing sector was the largest vertical with 9.3% market share in 2022.
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Which region accounted for the largest data and analytics market share in 2022?
The Asia Pacific region dominated the data and analytics market with 34.0% market share in 2022.
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