Post COVID-19, the report "COVID-19 Impact on AnalyticsMarket by Components, Verticals and Region - Global Forecast to 2021",size to grow from USD 25.4 billion in 2019 to USD 33.8 billion by 2021, at aCompound Annual Growth Rate (CAGR) of 15.5% during the forecast period. Themajor factors driving the growth of COVID-19 impact on the analytics industryinclude increasing demand for digital transformation, increased investments inanalytics, growing demand for remote services and location data, and increasingneed for real-time information to track and monitor the COVID-19 spread..
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Byindustry vertical, healthcare to grow at the highest CAGR during the forecastperiod
The Analytics Market is segmented into ten industryverticals: Banking, Financial Services and Insurance (BFSI), government anddefense, healthcare, manufacturing, retail, media and entertainment,telecommunications and Information Technology (IT), transportation, energy andutilities, and others (travel and hospitality, oil and gas, real estate andconstruction). During the COVID-19 pandemic, the healthcare industry verticalis under immense pressure to enhance and provide PPE, ventilators,prophylactic, and anti-viral drugs, across the world. Healthcare organizationsare using advanced technologies, such as analytics, AI, and machine learning toanalyze the complex data around COVID-19 to monitor and reduce the impact ofthe virus.
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NorthAmerica to hold the largest market size during the forecast period
North America is the mostsignificant revenue contributor to the global big data market. The region iswitnessing significant developments in terms of adoption and investments intechnologies such as analytics, AI, and ML. The growth in the demand for digitaltechnologies for business transformation and continuity is driving theimplementation of different analytical solutions among industries. Most ofthese industries are relying on analytical solutions to create differentpredictive or prescriptive models so that they can sustain the impact ofCOVID-19. North America, a manufacturing-driven economy, has already felt theimpact of COVID-19 in most of its industries. For instance, automobile giants,such as Ford, General Motors, and Fiat Chrysler, have closed down all the USmanufacturing plants to slow down the spread of the virus.
The report includes thestudy of the key players offering analytics solutions and services. Major vendorsin the global Analytics Market include Microsoft (US), Teradata (US), IBM (US),Oracle (US), SAS Institute (US), Google (US), Adobe (US), Talend (US), Qlik(US), TIBCO Software (US), Alteryx (US), Sisense (US), Informatica (US), Splunk(US), Hitachi Vantara (US), Information Builders (US), AWS (US), SAP(Germany), Salesforce (US), Micro Focus (UK), MicroStrategy (US), andThoughtSpot (US).
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