Discover trends, market shifts, and competitive outlooks for the data analytics industry through 2025-2034 with The Business Research Company’s reliable data and in-depth research

How Fast Is The Data Analytics Market Expected to Grow Between 2025 And 2029?

The size of the market for data analytics has seen a significant expansion in the past few years. This size is projected to rise from $74.83 billion in 2024 to $94.86 billion in 2025, marking a compound annual growth rate (CAGR) of 26.8%. Factors such as increasing data volume, demand for business intelligence, regulatory compliance necessities, advantages in cost efficiency and productivity, and the quest for competitive advantage have contributed to the growth during the historic period.

Expectations are high for the data analytics market size to demonstrate considerable growth in the upcoming years. It’s predicted that by 2029, it will have ballooned to $257.96 billion with a CAGR of 28.4%. The anticipated growth can be linked to several factors including the incorporation of AI and machine learning, the rise of predictive analytics, broader applications throughout industries, the appeal of cloud-based analytics solutions, and an emphasis on real-time analytics, as well as due to concerns related to data privacy and security. Predicted trends for the forecast period encompass the adoption of data analytics in cybersecurity, the growing interest in explainable AI for data interpretation, the increasing relevance of data analytics in boosting customer experience, its application to optimize supply chains, and cross-sector collaboration for comprehending data insights.

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What External and Internal Drivers Are Contributing to the Growth of the Data Analytics Market?

The advancement of real-time data analytics is anticipated to fuel the expansion of the data analytics market. Real-time data processing, as a useful instrument, examines data during production, enabling businesses to make timely, informed decisions. Companies can instantly spot trends and anomalies through data analytics, providing timely modifications and actions in fields like finance, healthcare, and production where quick choices are crucial. For instance, a survey by UK-based software company KX Systems Inc. in May 2022 based on over 1,200 businesses found that close to 80% of businesses in the US, France, and Germany saw increased income due to real-time data analytics. Further to this, 62% reported more efficient process rollouts post inception of real-time data systems in American and Australian companies. Additionally, real-time data analytics led to a cost-saving of $321 billion in non-staff operational costs in 2022 and is projected to save $379 billion if deployed across all leading industry sectors. Hence, the acceleration of real-time data analytics usage will stimulate the data analytics market. The rise in big data adoption is expected to stimulate the growth of the data analytics market. Big data, consisting of vast, complicated data sets are challenging to handle via conventional data application software. The application of big data necessitates sophisticated analytical tools capable of processing extensive data from various sources. The enormous amount of big data from numerous sources, including social media, IoT devices, and sensors, is necessitating more advanced analytical tools to extract meaningful insights from substantial datasets. For instance, in December 2022, 78% of very large organizations (with a workforce of over 10,000), 48% of large organizations (with a staff count over 1,000), and 43% of mid-sized companies (with more than 100 employees), reportedly used big data. Therefore, the increasing adoption of big data is accelerating the expansion of the data analytics market.

What Segment Types Define the Data Analytics Market Structure?

The data analytics market covered in this report is segmented –

1) By Type: Big Data Analytics, Business Analytics, Customer Analytics, Risk Analytics, Statistical Analysis, Other Types

2) By Deployment: On-Premises, Cloud

3) By Enterprise Size: Large Enterprises, Small And Medium Enterprises (SMEs)

4) By Application: Supply Chain Management, Enterprise Resource Planning, Database Management, Human Resource Management, Other Applications

5) By End-User: Banking, Finance, And Insurance (BFSI), Government, Healthcare, Information Technology (IT) And Telecom, Military And Defense, Other End-Users

Subsegments:

1) By Big Data Analytics: Predictive Analytics, Prescriptive Analytics, Descriptive Analytics

2) By Business Analytics: Performance Management, Business Intelligence, Data Visualization

3) By Customer Analytics: Customer Segmentation, Customer Lifetime Value Analysis, Sentiment Analysis

4) By Risk Analytics: Credit Risk Analytics, market Risk Analytics, Operational Risk Analytics

5) By Statistical Analysis: Inferential Statistics, Regression Analysis, Time Series Analysis

6) By Other Types: Text Analytics, Web Analytics, Social Media Analytics

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Which Geographic Areas Hold the Strongest Growth Potential in the Data Analytics Market?

North America was the largest region in the data analytics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the data analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

What Long-Term Trends Are Transforming the Competitive Landscape of the Data Analytics Market?

Leading entities in the data analytics domain are prioritizing the development and innovation of advanced solutions, for example, unified analytics platforms, aiming to enhance their customer services and solidify their market stance. Unified analytics platform is a software-based solution offering a solitary environment for amalgamation, storage, examination and depiction of data drawn from varied sources. In the case of May 2023, Microsoft Corporation which is a US founded software firm, unveiled Microsoft Fabric, a comprehensive unified analytics platform that consolidates all data and analytics instruments. Fabric merges technologies such as Azure Data Factory, Azure Synapse Analytics, and Power BI into a singular cohesive package to empower data and business specialists to capitalize on data usability and lay the foundation for the AI epoch. Clients can avail this single platform with a unified experience and architecture which encompasses all necessary features for developers to extract valuable insights from data and relay them to business users. Fabric is enhanced with the Azure Open AI Service, which offers developers the capacity to exploit the capabilities of generative AI on the data to aid business users in discovering insights into the data.

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What Is the Definition of the Data Analytics Market?

Data analytics is the process of collecting, cleaning, analyzing, and interpreting data to gain insights that can be used to improve strategic decisions. It is used to discover, interpret, and communicate meaningful patterns in data to enable organizations to make more informed business decisions.

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