Dark Analytics Market 2018 Global Expected to Grow at CAGR of 25.08% and Forecast to 2023

Market Highlights

Dark analytics refers to the management of data collected and stored by an organization during its business. According to the latest report circulated by Market Research Future (MRFR), the global dark analytics market is anticipated to thrive exponentially at a CAGR of 25.08% during the forecast period 2019 to 2023. In addition, the study reveals that the market is forecasted to reach a valuation of USD 880.50 Mn by 2024 up from USD 238.98 Mn in 2018.

With the development of technologies, organizations generate massive amounts of data during regular day to day activities. Dark analytics facilitate the processing of this information for quick decision making. It equips the management with necessary information from unstructured data that helps in making effective decisions. This, in turn, is expected to boost the expansion pace of the dark analytics market over the next couple of years.

Increasing adoption of Internet of Things (IoT) is a major factor responsible for the development of the market. The information generated by connected devices has motivated the growth of the dark analytics market in recent years. It is poised to demonstrate a similar growth trend in the foreseeable future. According to an observation presented by Cisco, there will be approximately 500 connected devices by the end of 2023. However, factors such as non-uniformity of the gathered data and lack of skilled experts are expected to restrict the growth of the dark analytics market in the upcoming years.

Segmentation:

On the basis of component, the global dark analytics market has been bifurcated into solutions and services.

On the basis of deployment, the dark analytics market has been divided into on-cloud and on-premise.

On the basis of application, the global dark analytics market has been segmented into finance, human resource, operations, and marketing.

On the basis of industry vertical, the dark analytics market has been segmented into BFSI, retail and e-commerce, IT and telecommunication, government, media and entertainment, healthcare, and others.

Regional Analysis:

The COVID-19 analysis of dark analytics market covers an exhaustive regional as well as country-level basis assessment. The major regional segments of the market are - North America, Asia Pacific (APAC), Europe, the Middle East and Africa (MEA), and South America. North America is likely to retain its forefront position in the global market place over the next few years. The region is anticipated to witness a drastic rise in adoption of dark analytics, which is likely to catalyze market growth in the region over the assessment period. Asia Pacific is likely to emerge as a potential regional market. Rising adoption of cloud-based services is expected to lead the growth of the dark analytics market in the region. In the forthcoming years.

Competitive Dashboard:

Amazon Web Services, Inc. (US), SAP SE (Germany), Microsoft Corporation (US), IBM Corporation (US), Teradata (US), Symantec Corporation (US), Datameer, Inc. (US), SAS Institute Inc. (US), Micro Focus (UK), and Dell Inc. (US) are few of the major participants of the global dark analytics market expected to contribute substantially to market growth in the years to come.

Some of the other players of the market anticipated to contribute to revenue generation over the next couple of years are Zoho Corporation (US), Commvault (US), TIBCO Software Inc. (US), AvePoint, Inc. (US), Zoomdata (US), Deloitte (US), Veritas (US), Synerscope (The Netherlands), and Datumize (Spain).

Key players are focusing on technological innovations and are expected to increase investments in research & development over the next few years. The landscape of the global dark analytics market is characterized by robust competition and is poised to witness an influx of new entrants in the nearby future.