Product Analytics Software market : Worldwide Industry Analysis and New Market Opportunities Explored By 2022 – 2032
The global product analytics software market is estimated to garner US$ 45.2 Billion while exhibiting a 13.3% CAGR during the forecast period ranging from 2022 to 2032. The industry is expected to secure US$ 12.9 Billion in 2022.
Product analytics software is in higher demand across a variety of industries, including manufacturing, automotive, healthcare, energy & utility, gover... moreProduct Analytics Software market : Worldwide Industry Analysis and New Market Opportunities Explored By 2022 – 2032
The global product analytics software market is estimated to garner US$ 45.2 Billion while exhibiting a 13.3% CAGR during the forecast period ranging from 2022 to 2032. The industry is expected to secure US$ 12.9 Billion in 2022.
Product analytics software is in higher demand across a variety of industries, including manufacturing, automotive, healthcare, energy & utility, government, and retail, as it provides essential information to optimise performance, diagnose issues, and correlate customer activity with long-term value. For instance, the Departments of Energy (DOE), Health and Human Services (HHS), and Veterans Affairs (VA) launched a new big data analytics programme to coordinate and share COVID-19 information in 2020.
Product analytics software suppliers have been forced to take their services to a completely new level as a result of the growing adoption of big data technologies, cloud computing, and other cutting-edge technology. For the global market for product analytics software, the cloud-based segment is probably going to present lucrative opportunities.
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Key Takeaways from the Market Study
• By offering, the software segment is expected to record a 13.2% CAGR by 2032
• By deployment type, the cloud-based segment to expand at a 12.7% growth rate during the forecast period
• The U.S market to garner US$ 15.7 Billion and record a 13.1% CAGR from 2022-2032
• Market in China to procure US$ 3.4 Billion, expanding at a 12.8% growth rate during the assessment period
Competitive Landscape
Eminent players of the global product analytics software market include International Business Machines (IBM) Corporation, Alphabet Inc., Salesforce, Oracle Corporation, and SAP SE among others. Recent key developments among players include:
• In May 2022, Salesforce introduced Tableau Cloud, which includes new innovations to boost productivity by delivering intelligent, powerful and easy-to-use analytical tools to help anyone uncover insights and confidently make data-driven decisions. An integral part of the Salesforce Customer 360, Tableau empowers customers to surface and gain actionable insights from all their trusted data, creating a single source of truth, accessible anytime, anywhere.
• In December 2021, Oracle announced an agreement to acquire Federos. The acquisition extends Oracle Communications’ application portfolio by adding AI-optimized assurance, analytics, and automation solutions to manage the availability and performance of critical networks and systems, expanding its ability to deliver end-to-end network and service assurance.
• In March 2022, IBM announced a first-of-its-kind partnership with Celonis, the global leader in execution management, to provide cloud-based solutions to support customers in the Asia Pacific. Celonis’ technology allows organizations to find and fix the hidden inefficiencies within their disparate system landscapes and determine,
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