PUBLISHER: Market Research Future | PRODUCT CODE: 1176632
PUBLISHER: Market Research Future | PRODUCT CODE: 1176632
As per MRFR, the Southeast Asia data analytics market has been growing significantly over the past few years. It is expected to reach USD 5,042.33 million, at a CAGR of 25.9% during the forecast period. Data analytics is the process of extracting meaning and examining the raw data sets using scientific models, hypotheses, and theories. Data analytics includes classification, association, prediction, and clustering of data. Data analytics technologies and techniques transform the raw data, organize data, and model the data to draw conclusions and identify different patterns.
The Southeast Asia data analytics market is expected to witness significant growth over the forecast period. MRFR has observed numerous factors responsible for the growth of the data analytics market around the world during the study. Data analytics techniques are broadly used in commercial industries to allow organizations to make more effective business decisions. The data analytics tools help businesses enhance operational efficiency, increase revenue, respond quickly to emerging market trends, optimize marketing campaigns, and gain a competitive advantage. Discrete manufacturing companies, government organizations, the banking industry, process manufacturing companies, and professional service providers are expected to invest significantly in business analytics and big data solutions. However, the lack of awareness about the data analytics technologies and technological complexity may hamper market growth during the forecast period
The Southeast Asia data analytics market has been segmented into type, solution, application, industry, deployment mode, organization size, function, and country. Based on type, the market is bifurcated into predictive, prescriptive, descriptive, and diagnostic analytics. By solution, the Southeast Asia data analytics market is categorized into data management, fraud & security intelligence, data mining, data visualization, and data monitoring. Based on application, the Southeast Asia data analytics market has been divided into enterprise resource planning, supply chain management, human resource management, database management, and others. Based on the industry, the Southeast Asia data analytics market has been segmented into BFSI, IT & telecommunication, manufacturing, retail & e-commerce, energy & power, healthcare, transport & logistics, media & entertainment, and others. The deployment mode segment comprises on-cloud and on-premises, whereas the organization size includes small & medium enterprises and large enterprises. Based on the function, the market has been split into sales analytics, marketing analytics, accounting & finance analytics, HR analytics, operational analytics, and others. Based on country, the Southeast Asia data analytics market has been segmented into the Philippines, Singapore, Malaysia, Thailand, Vietnam, Indonesia, and the Rest of Southeast Asia.
In 2020, Singapore accounted for the largest market share of nearly 36.98% mainly due to the emergence of advanced technologies such as AI, investments in digital transformation, and rapid adoption of digital solutions across the BFSI, IT & telecommunication, manufacturing, retail & e-commerce, energy & power, healthcare, transport & logistics, media & entertainment, among others for efficient and data-driven business operations. The Philippines, Indonesia, Vietnam, Thailand are the major growth engines of the Southeast Asia data analytics market and are expected to exhibit CAGR of 27.7%, 24.9%, and 28.2%, 30.3% respectively, during the forecast period, owing to the prevalence of emerging analytics trends across end-use industries in the region.
These include Microsoft, SAP, Oracle, Amazon Web Services, Dell, Alteryx, Inc., IBM Corporation, and Tableau Software, LLC. (Salesforce), Mu Sigma, and Hewlett Packard Enterprise Development LP.
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