Market Size of Embedded Analytics Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 68.88 Billion |
| Market Size (2029) | USD 132.03 Billion |
| CAGR (2024 - 2029) | 13.90 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Embedded Analytics Market Analysis
The Embedded Analytics Market size is estimated at USD 68.88 billion in 2024, and is expected to reach USD 132.03 billion by 2029, growing at a CAGR of 13.90% during the forecast period (2024-2029).
Embedded analytics is a BI and analytics solution aimed at end users that are integrated into company software programs. Embedded analytics is a component of the intrinsic application rather than a platform-independent service. This study enables users to work with higher-quality data and generate reports quickly.
- The primary factors driving the embedded analytics market are big data and the Internet of Things (IoT) expansion in businesses, the dependability of mobile devices and cloud technologies, and the rising demand for data analytics integration with business applications.
- In addition, the increase in volume and variety of data and the growing demand for IT systems for financial transactions in banks and other financial institutes are also driving the need for embedded analytics.
- An increase in big data applications would significantly contribute to the acceptance of embedded analytics. Thus, there has been consistent growth in big data and analytics solutions' revenue in recent years.
- However, high replacement costs and legacy systems are incompatible with new APIs, which increases the risk of data insufficiency, which is expected to hamper the market revenue growth during the forecast period.
- The market report finds that the COVID-19 pandemic created growth opportunities for the market as Online shopping, food ordering, and digitized payment methods provided a data pool to businesses. Embedded analytic tools provided companies with data trends and insights during COVID-19 through the generated digitized data, which boosted market growth.
