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According to the latest report by IMARC Group, titled "Embedded Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global embedded analytics market reached a value of US$ 47.8 Billion in 2021. Embedded analytics refers to a digital workplace capability that is used by multiple businesses for data analysis based on real-time reporting. It is an integration of dashboards, reports, business intelligence (BI) and data visualization inside a web portal or business application. It aids enterprises with relevant information and insights that help in better decision-making and enable a seamless experience for users and customers. Its deployment in businesses aid in achieving several benefits, such as customization of feedback with dashboards and visualizations, connecting different data sources for easy access, control over the security of the data, and viewing and editing key performance indicator (KPI) and sales dashboards.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Embedded Analytics Market Trends:
The global market is primarily driven by a considerable increase in data generation across the corporate sector. Supported by rapid digitization and the penetration of high-speed internet connectivity that has provided easy access to numerous web platforms to the masses, this has encouraged several leading players to heavily invest in the deployment of embedded analytics platforms within organizations, thereby catalyzing the market growth. Moreover, continual technological advancements and the integration with the internet of things (IoT), artificial intelligence (AI), cloud computing and machine learning (ML) with embedded analytics are impacting the market favorably. Furthermore, the rising adoption of remote working on account of the rapid outbreak of coronavirus disease (COVID-19) is considered to be a major growth-inducing factor. Other factors, including continuous improvements in the information technology (IT) infrastructure and extensive research and development (R&D) activities conducted by key players, are also creating a positive outlook for the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 108.3 Billion by 2027, exhibiting a CAGR of 14.41% during 2022-2027.
Market Summary:
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