Global Embedded Analytics Market Size By Business Function (Finance, Human resources (HR)), By Industry (Telecommunications and IT, Manufacturing, Government), By Component (Software, Services), By Services (Managed Services, Professional Services), By Geographic Scope And Forecast

Embedded Analytics Market Size And Forecast

Embedded Analytics Market size was valued at USD 54.95 Billion in 2024 and is projected to reach USD 149 Billion by 2031, growing at a CAGR of 14.65% during the forecast period 2024-2031.

Major technological advancements include defect management, cloud connectivity, security, low-power design, and machine learning. Thus, it can be concluded that the advent of technological advancement is embedded analytics will act as a potential opportunity for the growth of the market. The Global Embedded Analytics Market report provides a holistic evaluation of the market. The report offers comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Embedded Analytics Market Definition

Imagine a tool called Embedded Analytics that brings together data analysis and business intelligence right into your business applications. It's like having a superpower that makes it a breeze to understand your data and make smarter decisions. Many companies are embracing Embedded Analytics because it's like having everything you need in one place, like a Swiss Army knife for business. Unlike the old-fashioned way of digging through data, this tool simplifies problem-solving like never before. Think of it as a telescope that lets you see data patterns across different areas of your business, from sales to marketing to customer service. It's like having a roadmap that guides you to the most critical information you need to make informed decisions. Embedded Analytics empowers teams in various departments, from customer relationship management to finance and beyond. It's like having a personal data assistant at your fingertips, guiding you towards success.

Embedded analytics converts raw data into business intelligence offering organizations with tremendous opportunities from increasing productivity and strengthening competitive advantage to enhancing customer satisfaction and other actionable insights. Service providers offering on-premise, cloud-based, or hybrid embedded analytics solutions offer customer-facing dashboards, static and interactive reports, visual workflows, and services such as software infrastructure, platforms, and processes.

Global Embedded Analytics Market Overview

Nowadays, many companies are striving to become data-driven. The data-driven decision making creates the need for embedded analytics in order to help employees in making informed decisions, which eventually enables organizations to beat their competition. The increasing variations and complexity in data sets are further increasing the demand for embedded analytics to help customers in gaining quick insights. Embedded analytics offers software and services that can be used to processing and analyzing data within an application in order to generate valuable insights, which helps in making data-driven decisions.

As technology keeps racing forward, embedded systems are set to get some major upgrades. These improvements will touch every part of their development, from the ideas they're based on to how they're built and marketed. Here are some of the changes we're likely to seeMore open source- Developers will have access to more shared resources, making it easier to create innovative solutions. Better security - Embedded systems will be made more secure to protect our privacy and keep our data safe. Multiple ways to connect- Devices will be able to connect to each other and the internet in more ways than ever before. Smarter algorithms - Algorithms will help devices make better decisions and learn from their experiences. Some of the other big advances include ways to manage errors, connect to the cloud, use less power, and take advantage of machine learning. All these improvements will create new opportunities for the embedded systems market to grow and expand.

However, it is vital for integrating such data management systems along with well-established, legacy, and proven systems. These systems could have major flaws, as they do not have well-defined interfaces and their documentation is limited. The possibility of errors such as inadequate data increases manifold, as the legacy systems sometimes lack compatibility with new APIs. Therefore, it can be concluded that a lack of integration with the legacy systems along with higher replacement costs might act as a potential restraint for the overall market growth.

Market Research narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements that interests the client. The “Global Embedded Analytics Market” is mainly bifurcated into sub-segments which can provide classified data regarding the latest trends in the market.

Global Embedded Analytics MarketSegmentation Analysis

The Global Embedded Analytics Market is segmented into Business Function, Industry, Component, Services, And Geography.

Embedded Analytics Market, By Business Function

• Finance
• Human resources (HR)
• IT
• Marketing and Sales
• Production
• Others

Based on Business Function, The market is bifurcated into Finance, Human resources (HR), IT, Marketing and Sales, Production, Others. Marketing and Sales accounted for the largest market share in 2019 followed by IT. In terms of sales and marketing, embedded analytics can be used for territory management to enable platforms to build automated reports with charts, inline visualization, and identifying trending activities in the region. It also helps in campaign management as it allows for the review of the trends of buyers and respondents, to evaluate customer acquisition costs and gain an understanding of working programs.

Embedded Analytics Market, By Industry

• Telecommunications and IT
• Retail and Consumer Goods
• Healthcare and Life Sciences
• Manufacturing
• Government
• Energy and Utilities
• Others

Based on Industry, The market is bifurcated into Telecommunications and IT, Retail and Consumer Goods, Healthcare and Life Sciences, Manufacturing, Government, Energy and Utilities, and Others. Telecommunications and IT accounted for the largest market share in 2019. With the introduction of the technological advancement platforms such as IoT, big data, cloud platforms, cognitive AI, and several others, the business organization is generating enormous data. Telecommunication and IT sectors were finding data integration, analysis, and storage on to business level difficult. This complexity is overcome by the introduction of the embedded analytic tools.

Embedded Analytics Market, By Component

• Software
• Services

Based on Component, The market is bifurcated into Software and Services. Services accounted for the largest market share in 2019. Embedded analytics services provide an ability to integrate analytics into their own web portals, products, and applications. Embedded analytics services facilitate the user using dashboards, reports, and analytics to the customers, suppliers, and partners outside the business organization, therefore act as a flexible platform.

Embedded Analytics Market, By Services

• Managed Services
• Professional Services

Based on Services, The market is bifurcated into Managed Services and Professional Services. Professional Services accounted for the largest market share in 2019. Professional Services for embedded analytics comprise of consulting services, support, and maintenance, education, and training. These services are used to close the gap between the operational and analytical applications and optimize the performance growth of organizations.

Embedded Analytics Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world

Let's break down the global market for embedded analytics, which basically helps businesses use data to make better decisions. North America is like the king of the castle in this market, and it's predicted to stay that way until 2023. Why's that? Well, a bunch of big companies call North America home, and they've got access to the latest and greatest tech. Plus, they're all realizing how important it is to have analytics built into their business apps. Companies in North America are really data-savvy, and they know how to use it to their advantage. That's why there's a huge demand for embedded analytics tools in the region. To give you an idea, the U.S. alone has been spending more and more money on marketing data every year. That shows how serious businesses are about using data to make informed decisions.

Key Players

The “Global Embedded Analytics Market” study report will provide a valuable insight with an emphasis on the global market including some of The major players in the market Sisense Inc., MicroStrategy Incorporated, TIBCO Software Inc., Tableau Software, SAS Institute Inc., Logi Analytics, IBM Corporation, Microsoft Corporation, and others.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.

Key Developments

• In May 2017, Microsoft unveiled Power Business Intelligence (BI) Premium, which expands on the existing Power BI portfolio with a capacity-based licensing model that enhances flexibility in terms of information access, sharing, and distribution. Power BI Embedded has been merged with the Power BI service as part of the new offering to provide a single API surface, a uniform set of capabilities, and provides access to the latest features.
• IBM announced the first set of cognitive technologies in June 2017 to assist financial institution personnel in managing their regulatory and fiduciary duties. Its Watson-powered software, which can be deployed on the IBM Cloud, was meant to assist financial professionals in three areascomprehending regulatory requirements, offering enhanced insights into potential financial crimes, and managing risk with a new architectural approach for data.
• OpenText Magellan, a customizable AI and analytics platform that blends open-source machine learning with sophisticated analysis, was released in July 2017. It can also gather, integrate, manage, and analyze large amounts of data and information.

Report Scope

Research Methodology of Market Research