Dark Analytics Market is Projected to Grow at a Strong CAGR of 21.2% by 2032
The global dark analytics market is expected to be valued at US$ 491.9 million in 2022, growing at a CAGR of 21.2% to be valued at US$ 3,356.7 million from 2022 to 2032. The high development in information produced by IoT is attributed to development.
The examination of dark information present in endeavours is known as dark analytics. Dark information is generally referred to as raw information or data that associations obtain in various business tasks and store it in any case, is unused to determine bits of knowledge and for dynamic in business.
Associations are realising that there is a huge risk associated with losing the upper hand in business and administrative issues that comes with not dissecting and handling this information. Thus, dark analytics is a continuing training in projects that advances in breaking down PC network tasks and example recognition.
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Dark analytics solution incorporates a system which allows users to develop end-to-end data pipelines to tackle extraction, integration, and prediction of data by machine learning techniques. Valuable insights from this data are gained by solving statistical inference problems at massive scale. Dark analytics assist in recognizing better unused opportunities mainly in sales and marketing processes by analysing customer behaviour insights.
Dark Analytics Market: Drivers and Restraints
Extracting insights for decision making by immediate analysis of real-time information from key business processes such as sales, production and distribution trends is the major factor driving the growth of dark analytics market.
Moreover, factors such as gaining insights from and making the most of every data point, efficiency in terms of time, money and resources in processing unstructured data, and aid to minimise the accumulation of dark data by transforming it into valuable real time information are also some key factors resulting in the growth of dark analytics market.
However, security concerns and risks associated with data, and data storage costs are some factors restraining the growth of dark analytics market.
Dark Analytics Market: Segmentation
Dark analytics market can be segmented on the basis of analytics type, dark data type, end-user, and region wise. On the basis of analytics type market can be further segmented into predictive, prescriptive, diagnostic and descriptive. On the basis of dark data type it can be categorized into business, customer and operational dark data.
In the end user type, dark analytics market is categorized into BSFI, Government, Retail and E-commerce, Travel and hospitality, and others. Region wise global dark analytics market can be segmented into North America, Europe, Asia-Pacific, Middle East and Africa and Latin America.
Dark Analytics Market: Regional Overview
North America is the biggest market for dark analytics market followed by Europe to ensure compliance of business processes and legal issues. Asia Pacific region is expected to show significant growth in the dark analytics market due to emerging start-ups and rise in adoption of analytics in enterprises. Latin America and Middle East regions are showing a considerable growth in this market owing to adoption of data driven strategies in business processes.
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Dark Analytics Market: Key Players
IBM Corporation, Deloitte, SAP SE, Teradata, Hewlett-Packard, EMC Corporation, VMware, Inc., Microsoft Corporation, are some of the key players in dark analytics market.
Some of the key participants present in the global Dark Analytics market include IBM Corporation, Deloitte, SAP SE, Teradata, Hewlett-Packard, EMC Corporation, VMware, Inc., and Microsoft Corporation, among others.
Attributed to the presence of such high number of participants, the market is highly competitive. While global players such as IBM Corporation, Deloitte, SAP SE, Teradata, and Hewlett-Packard account for a considerable market size, several regional level players are also operating across key growth regions, particularly in North America.
- In February 2021, Google acquired Halli Labs, a four-month-old Bengaluru-based start-up that develops artificial intelligence and machine learning options.
- In June 2020, Apple acquired Lattice Data, a company that uses an AI-enabled interface to discover and generate unstructured data into structured data.
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Key Segments Covered in the Dark Analytics Industry Analysis
Dark Analytics Market by Analytics Type:
- Predictive Dark Analytics
- Prescriptive Dark Analytics
- Diagnostic Dark Analytics
- Descriptive Dark Analytics
Dark Analytics Market by Dark Data Type:
- Business Dark Analytics
- Customer Dark Analytics
- Operational Dark Analytics
Dark Analytics Market by End User:
- Dark Analytics for BFSI
- Dark Analytics for Government
- Dark Analytics for Retail & E-Commerce
- Dark Analytics for Travel and Hospitality
- Dark Analytics for Other End Users
Dark Analytics Market by Region:
- North America Dark Analytics Market
- Latin America Dark Analytics Market
- Europe Dark Analytics Market
- Asia Pacific Dark Analytics Market
- Middle East & Africa Dark Analytics Market