Global Dark Analytics Market (2021-2026) – Growth, Trends, COVID-19 Impact, and Forecast – ResearchAndMarkets.com

DUBLIN – (BUSINESS WIRE) – June 23, 2021–

the “Dark Analytics Market – Growth, Trends, Impact of COVID-19 and Forecast (2021 – 2026)” the report was added to ResearchAndMarkets.comoffer.

The Dark Analytics market is expected to register a 21.7% higher CAGR during the forecast period (2021 – 2026).

Companies mentioned

IBM Company
SAP SE
Amazon Web Services Inc.
Micro Focus International PLC
Microsoft Corporation
SAS Institute
Teradata Company
Hewlett-Packard Enterprise
Oracle Corporation

Key market trends

Retail and e-commerce will maintain significant growth

The retail and e-commerce vertical is expected to experience strong growth during the forecast period. In retail industries, data is generated through multiple points of contact with customers. In addition to this, the advent of digitization has increased the sales of e-commerce, which has led to the generation of a large volume of dark data. This obscure data could provide vital information to retailers. Analyzing this dark data provides growth opportunities for retailers and helps retailers strengthen their presence in the competitive environment.
Retailers almost globally recognize that digital transformation has reshaped customer behavior and purchasing. In fact, $ 0.56 of every dollar spent in a store is influenced by digital interaction. In recent years, however, a growing number of retailers have started exploring different approaches to developing digital experiences. Some analyze previously obscure data from the digital lives of customers and use the resulting insights to improve merchandising, marketing, customer service, and even product development strategies that provide shoppers with a focused and individualized customer experience.
Grocery stores such as Amazon and Kroger Co. use advanced analytics using IoT to track their customers’ choices and products based on their regularity. Using this data, companies come up with tailor-made product offerings, merchandising, marketing, and even product development strategies. Additionally, Stitch Fix, an online subscription-based shopping service, uses images from social media and other sources to track emerging fashion trends and changing customer preferences.

North America will hold the largest share

North America is estimated to account for the largest share of the dark analytics market in 2018. Countries in the region are the early adopters of dark analytics technology. Additionally, the region is among the top innovators and pioneers in analytics adoption. The region has a strong presence of analytics providers, which contributes to the growth of the market. Some of them include IBM Corporation, Microsoft Corporation, and SAS Institute, Inc., among others.
In North America, various dark analytics startups provide services to multiple industries. Additionally, major analytics and cloud computing service providers are based in this region. The emergence of machine learning and AI technology, widespread adoption of IoT, and rapid growth of business applications are some of the other key factors fueling the global dark analytics market.
The region is also seeing an increase in the adoption of dark analytics solutions adopted by governments and large companies to improve their decision-making process. In addition, the region is seeing an increase in data via the e-commerce industry. According to the US Department of Commerce, the e-commerce industry in the country grew by more than 40% in 2017. As a result, the use of dark analytics is also expected to increase significantly among US retailers.
The Canadian e-commerce industry also offers potential opportunities to stimulate demand for big data analytics. In 2017, B2C e-commerce revenue in Canada increased 9% to $ 20.2 billion (according to E-commerce Foundation). In 2017, IT investment in healthcare increased by more than 150% compared to 2013. As a result, it is expected to improve the adoption of dark analytics in healthcare in the United States, thus having a positive impact on market growth.

Main topics covered:

1. INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Market overview

4.2 Market drivers

4.2.1 Increasing adoption rates of machine learning and artificial intelligence

4.2.2 Rapid Growth in Volume and Variety of Data Generated Due to IoT Adoption

4.3 Market restrictions

4.3.1 Safety issues

4.4 Industry Attractiveness – Porter’s Five Forces Analysis