According to the research report titled ‘Global Analytics Market Size study with COVID-19 Impact, by Solution (services and software) and End-Users (BFSI, Manufacturing, Retail, Healthcare, and Others) and Regional Forecasts 2020-2026’, available with Market Study Report, global analytics market is expected to register significant growth during 2020-2026.
 

For those uninitiated, analytics is the identification, interpretation and transmission of meaningful data patterns. The analysis of generated data helps in effective decision making.
 

Rising adoption of advanced technologies such as Internet of Things and Big Data analytics to collect, digitalize and scrutinize data is a major factor driving the growth of global analytics market. These solutions help organizations in making ideal decisions as well as enhancing business operations. It aids in linking, processing, managing and understanding various types of data patterns, hence is widely used in numerous industry vertical such as manufacturing, medical & healthcare, and retail & e-commerce.
 

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Increasing competition among market majors along with rising penetration of connected devices are also facilitating the business scenario. Analytics solutions offer several benefits such as real-time viewing, scalability, and optimization.
 

The unexpected outbreak of COVID-19 has propelled the demand for analytics across the globe. Researchers and developers are adopting natural language processing, artificial intelligence, and machine learning technologies to track as well as contain the spread of COVID-19. These solutions also help in acquiring broader understanding of the disease. Incorporation of analytics to track the spread of disease is fueling the market size. In fact, RPI (Rensselaer Polytechnic Institute) revealed that it will provide government entities, industries as well as research organizations access to advanced AI tools in order to address the rising prevalence of COVID-19. However, concerns regarding cybersecurity threats may act as restraining factor to the overall market growth.
 

From the regional perspective, North America analytics market is slated to record momentous growth during the forecast period, primarily driven by increasing utilization of the technology and concentration of major companies in the region. On the other hand, Asia-Pacific market is reckoned to witness considerable growth in the ensuing years. Growing demand and rising adoption of connected devices are favoring the market scenario in Asia-Pacific.
 

AGT International, TIBCO Software Inc., Cisco Systems Inc., IBM Corp., Intel Corp., SAP SE, Google LLC, Microsoft Corp., SAS Institute Inc., and Oracle Corp. are the prominent companies operating in global analytics market.