Global Operational Analytics Market Is Predicted to Grow Around USD 30.651 Billion By 2030

The global operational analytics market size was worth around USD 11.85 Billion in 2022 and is predicted to grow to around USD 30.65 Billion by 2030 with a compound annual growth rate (CAGR) of roughly 16.22% between 2023 and 2030.

The operational analytics industry refers to the market that focuses on the application of to improve or optimize several business operations existing within an organization. It requires analysis of large volumes of operational data that is generated from several digital sources. The analysis thus presented can be used by companies to make data-driven decisions for a sustained future. Operational analytics works as a combination technique that runs on an amalgamation of business intelligence, data analytics, and data visualization. All of these concepts work together to extract valuable information from operational data. The aforementioned sources include customer interactions, transactions, log files, sensors, and other operational systems

The global operational analytics market is projected to grow owing to the changing business landscape across the globe. Companies have adopted rapid movement in terms of bringing new systems and getting rid of redundant technologies. The increasing competition intensity has caused businesses to seek measures that provide them with real-time information on several aspects of the business.

This information can thus be used to mitigate any oncoming risk and help in the survival of the company. With the growing demand for real-time analytics, the market can expect higher revenue in the coming years since operation analytics not only provides information in real-time, it also allows them to monitor any changes and take proactive, quick rectifying measures. Furthermore, the growing focus on operational efficiency is key to the industry’s future as businesses are adopting measures that allow operational efficiency and reduced costs.

The trend is further strengthened by the increasing adoption of modern-age technologies such as Artificial Intelligence (AI), data analytics, and Machine Learning (ML). These technologies enable organizations to leverage advanced algorithms and models to extract meaningful insights from complex operational data. Other factors such as changing regulatory requirements to mitigate risks and greater emphasis on customer satisfaction could drive the market further. 

The operational analytics industry faces growth restraints in terms of complex infrastructure requirements since operational analytics involves the use of large volumes of data thus necessitating the existence of robust infrastructure and systems. Companies in developing or underdeveloped nations face challenges in terms of infrastructure scalability, data storage, computing power, and network bandwidth which restrict technology adoption. Moreover, the complexity of the technology itself further pushes back the market growth trajectory.

The growing investment toward artificial intelligence may provide growth opportunities while the skill gap could challenge market growth.

The global operational analytics market is segmented based on deployment, application, type, vertical, and region.

Based on deployment, the global market segments are on-premise and on-cloud.

Based on application, the global market segments are fraud detection and customer management. The operational analytics industry witnessed the highest CAGR in the fraud detection segment in the backdrop of growing fraudulent cases across sectors. Operational analytics in terms of fraud detection deals with identifying and mitigating fraudulent activities by analyzing vast data in real time. The technology can detect and report any suspicious activity, patterns, and anomalies that can lead to fraud. The Consumer Sentinel Network reported having received over 2.4 million fraud cases in 2022. The number is rising every year leading to companies taking proactive measures to maintain business integrity. The market encompasses software solutions, platforms, and services that enable organizations to perfect their business operations.

Based on type, the global market segments are services and software.

Based on vertical, the global market segments are financial services and energy & utilities. The financial services segment was the leading revenue generator in 2022. The operational analytics industry has a heavy reliance on operational analytics that drive fraud detection, risk management, and decision-making. Large amounts of transactional data are collected and analyzed to help businesses make informed decisions and avoid any risk of failure. Operational analytics allow them to work and improve business wings such as credit scoring, portfolio management, customer segmentation, and fraud prevention.

The energy & utilities segment uses the tool to enhance energy efficiency and improve maintenance and asset management. As per a 2019 Forbes report, Bank of America spent nearly USD 10 billion in Information Technology (IT).

North America is the leading player in the global operational analytics market due to the dominance of the US in the technology world in terms of producing and developing systems and deploying them on a regional scale. The presence of key developers of the systems has helped North America assert its dominance. Europe is a significant market for the industry since Germany, France, and the UK are witnessing surging adoption of operational analytics across growing sectors such as finance, manufacturing, telecommunications, and energy.

The region has laid higher emphasis on data protection and privacy regulations which directly influenced the adoption of advanced systems such as operational analytical tools. Government initiatives promoting digital transformation and smart city projects are also working in favor of the regional industry.

Browse the full “Operational Analytics Market By Deployment (On-Premise and On-Cloud), By Application (Fraud Detection and Customer Management), By Type (Services and Software), By Vertical (Financial Services and Energy & Utilities), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2023 – 2030.” Report at https://www.zionmarketresearch.com/report/operational-analytics-market

Recent Developments:

• In November 2021, Monte Carlo announced the launch of Insights which is built on its existing operational analytics tool. The company had received a total fund of USD 1010 million until 2021 since its inception in 2019
• In April 2022, Trendminer, owned by Software AG, launched TrendMiner NextGen or the 2022.R1. It is in addition to the existing line of products offering industrial analytics
• In June 2022, Google Cloud and Palantir announced a partnership with efforts being directed toward changing the commercial business landscape using operational analytics technology

The global operational analytics market is led by players like:

• IBM
• Oracle
• SAP
• Microsoft
• SAS Institute
• Tableau Software (acquired by Salesforce)
• Qlik
• MicroStrategy
• Tibco Software
• Splunk
• Teradata
• Alteryx
• Adobe Systems
• RapidMiner
• Logi Analytics
• Sisense
• ThoughtSpot
• GoodData
• Pentaho (a Hitachi Vantara company)
• Domo
• Looker (acquired by Google Cloud)
• Yellowfin BI
• Panorama Software
• Information Builders
• BOARD International.

The global operational analytics market is segmented as follows:

By Deployment

• On-Premise
• On-Cloud

By Application

• Fraud Detection
• Customer Management

By Type

• Services
• Software

By Vertical

• Financial Services
• Energy & Utilities

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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