Advanced Analytics Market Size Report Predicts Healthy Growth
The global advanced analytics market is anticipated to grow at a considerable CAGR of 21.8% during the forecast period. The healthcare sector is expected to grow during the forecast period due to increasing utilization and demand for advanced analytics. Healthcare analytics is a critical section of analysis that mostly focuses on contribution insights into costs, hospital management, diagnoses, patient records, and numerous other data. This field comprises every segment of healthcare, providing both micros as well as macro levels of data. The escalation in technological advances in the healthcare field, enhanced treatment plans, surging availability of cost-effective technology, need for better patient care services, and existing procedures will fuel the global advanced analytics market. Furthermore, technology launches, acquisitions, and R&D activities are key strategies adopted by players in the health sector which indirectly fuels the global advanced analytics market. For instance, in December 2021, CVS Health and Microsoft announced a new strategic alliance to reimage personalized care and accelerate digital transformation. It focuses on developing innovative solutions to help consumers improve their health.
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Furthermore, in December 2020, Amazon Web Services (AWS) launched Amazon HealthLake, a HIPAA-eligible service that aims to support interoperability standards and further drive the use of big data analytics in healthcare. Amazon HealthLake aggregates an organization’s complete data across various silos and disparate formats into a centralized AWS data lake and automatically normalizes this information using ML. Resultantly, Amazon HealthLake makes it easier for customers to query, perform analytics, and run ML to evaluate value from the normalized data.
Global Advanced Analytics Market Report Segment
By Deployment Model
• Cloud
• On-premises
By Type
• Statistical Analytics
• Text Analytics
• Risk Analytics
• Predictive Analytics
By End-User Industry
• BFSI
• Retail & Consumer Goods
• Healthcare
• IT & Telecommunication
• Transportation & Logistics
• Government & Defense
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Advanced Analytics Market Report Segment by Region
North America
• United States
• Canada
Europe
• Germany
• United Kingdom
• France
• Spain
• Italy
• Rest of Europe
Asia-Pacific
• China
• Japan
• India
• Rest of Asia-Pacific
Rest of the World
• Middle East & Africa
• Latin America
Company Profiles
• Absolutdata Holdings, Inc.
• Adobe Inc.
• Altair Engineering, Inc.
• ALTERYX
• Amazon Web Services, Inc.
• Arria NLG plc
• Domino Data Lab, Inc.
• H2O.ai, Inc.
• IBM Corp.
• Kinetica DB Inc.
• KNIME GmbH
• Microsoft Corp.
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