Need to gain insights & anticipating trends from large volume of data and rise in pervasiveness of metrics-driven business performance assessment and streamline operations are the major factors that drive the growth of the market. In addition, increase in need for prioritizing resources fuels the growth of the performance analytics market. However, lack of awareness about performance analytics solutions and scarcity of skilled staff to operate on performance analytics solution is expected to hinder the market growth. On the contrary, growing adoption of cloud-based performance analytics solutions is expected to provide lucrative opportunities for the market growth in the coming years.
The performance analytics market is segmented on the basis of component, deployment, organization size, application, industry vertical, and region. Based on component, the market is categorized into solution and service. On the basis of deployment, it is classified into on-premise and cloud. By organization size, the market is categorized into large enterprises and small &medium sized enterprises (SMEs). Depending on application, it is divided into financial performance, sales & marketing performance, IT operations performance, supply chain performance, employee performance, and others. According to industry vertical, the market is classified into BFSI, IT & telecom, retail, government & defense, healthcare, manufacturing, and others. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The company profiles of performance analytics market players included in this report are SAP SE, SAS Institute, Inc., Oracle Corporation, Siemens AG, Adaptive Insights, Xactly Corporation, Optymyze, Servicenow, Inc., IBM, and Prophix Software Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
Key benefits for stakeholders
- The study provides an in-depth analysis of the global performance analytics market along with the current & future trends to elucidate the imminent investment pockets.
- Information about key drivers, restrains, and opportunities and their impact analysis on the market size is provided in the report.
- Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
- The quantitative analysis of the global performance analytics market from 2019 to 2026 is provided to determine the market potential.
Key market segments
By Component
- Solution
- Service
By Deployment Mode
- On-Premise
- Cloud
By Organization Size
- Large Enterprises
- Small & Medium Enterprises
By Application
- Financial performance
- Sales & Marketing performance
- IT Operations Performance
- Supply Chain Performance
- Employee Performance
- Others
By Industry Vertical
- BFSI
- IT & Telecom
- Retail
- Government & Defense
- Healthcare
- Manufacturing
- Others
By Region
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
KEY MARKET PLAYERS
- IBM Corporation
- SAP SE
- SAS Institute Inc.
- Oracle Corporation
- Siemens AG
- Adaptive Insights
- Xactly Corporation
- Optymyze
- Servicenow Inc.
- Prophix Software Inc
Table of Contents
Executive Summary
According to the report titled, 'Performance Analytics Market by Component, Deployment Model, Organization Size, Application, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2019-2026,' the global performance analytics market was valued at $1.56billion in 2018, and is projected to reach $6.50 billion by 2026, growing at a CAGR of 19.6% from 2019 to 2026.Performance analytics enables organizations to track, aggregate, and visualize key performance indicators over time, rather than reporting on a point in time. Furthermore, need to gain insights & anticipating trends from large volume of data and rise in pervasiveness of metrics driven business performance assessment and streamline operations are the major factors that drive the growth of the market.
Increase in need for prioritizing resources fuel the growth of the performance analytics market. However, lack of awareness about performance analytics solutions and scarcity of skilled staff to operate on performance analytics solution are expected to hinder the growth. On the contrary, growth in adoption of cloud-based performance analytics solutions is expected to provide lucrative opportunities for the market growth in the coming years.
The supply chain performance segment dominated the market in 2018 and is projected to maintain its dominance throughout the forecast period, owing to improve the labor efficiencies and decrease administrative cost of the organizations. Furthermore, IT operations performance segment is expected to grow at a significant CAGR during the forecast period to uptime the IT operation process and provide real-time comparison against the target.
The BFSI sector dominated the performance analytics market in 2018 and is projected to maintain its dominance during the forecast period, owing to rise in digital transformation in the BFSI sector. Furthermore, the IT & telecom sector is expected to grow at a significant CAGR during the forecast period, owing to growing need of performance analytics solution for delivering complete, consistent, and accurate information to the customers.
By region, the global performance analytics market was dominated by North America in 2018 and is expected to maintain this trend during the forecast period. The major factors that drive the growth of the market in this region include growth in internet penetration and large investment done by major companies in performance analytics solution. However, Asia-Pacific is expected to witness the highest growth rate during the forecast period, owing to increase in number of performance analytics vendors expanding their business in emerging countries.
According to Pramod Borasi, Research Analyst, ICT, “Retail sector is expected to attain significant growth in the upcoming years, owing to growing demand from retail companies to obtain immediate insights from the data and market trends.”
KEY FINDINGS OF THE STUDY
- By component, the solution segment led the performance analytics market size in terms of revenue in 2018.
- By deployment model, the cloud segment accounted for the highest market share in 2018.
- By industry vertical, the BFSIsegmented accounted for the highest performance analytics market share in 2018.
- By region, North America generated the highest revenue in 2018.
The company profiles of performance analytics market players included in this report are SAP SE, SAS Institute, Inc., Oracle Corporation, Siemens AG, Adaptive Insights, Xactly Corporation, Optymyze, Service now, Inc., IBM, and Prophix Software Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
Companies Mentioned
- SAP SE
- SAS Institute Inc.
- Oracle Corporation
- Siemens AG
- Adaptive Insights
- Xactly Corporation
- Optymyze
- Servicenow Inc.
- IBM
- Prophix Software Inc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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