Operational Analytics Market Size, Share, Industry Trends and Forecast to 2030

Operational Analytics Market Size & CAGR in 2021

The global operational analytics market is expected to have a growth rate of 5.23% CAGR from 2021 to 2028. The market is anticipated to grow by USD 4.5 billion by 2028.

COVID-19 Impact on the Operational Analytics Market

The COVID-19 pandemic has significantly impacted the operational analytics market. With the shift to remote work and digital transformation initiatives, the demand for operational analytics tools and solutions has increased. Companies are now focusing on real-time data analysis and predictive analytics to navigate through the uncertainties brought by the pandemic.

Operational Analytics Dynamics

The operational analytics market is driven by the increasing adoption of cloud-based analytics solutions, the growing need for real-time data analysis, and the rising demand for predictive analytics. Companies are leveraging operational analytics to optimize their business processes, improve operational efficiency, and enhance decision-making.

Segments and Related Analysis

The operational analytics market is segmented based on deployment mode, organization size, application, and vertical. By deployment mode, the cloud-based segment is expected to witness significant growth due to its scalability and cost-effectiveness. In terms of organization size, large enterprises are the major adopters of operational analytics solutions. The application of operational analytics spans across various industries such as manufacturing, retail, healthcare, and IT.

By Region Analysis

The operational analytics market is analyzed across regions including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to dominate the market due to the presence of key market players and the early adoption of advanced analytics technologies. Asia Pacific is anticipated to witness significant growth as organizations in the region are increasingly investing in analytics solutions.

Key Market Players and Competitive Landscape

Key players in the operational analytics market include IBM Corporation, Oracle Corporation, SAP SE, SAS Institute Inc., and Microsoft Corporation. These players are focusing on strategic partnerships, product innovations, and mergers and acquisitions to gain a competitive edge in the market. The market is highly competitive, with players vying for market share through technological advancements and enhanced service offerings.

Recent Happenings in the Operational Analytics Market

In recent developments, IBM launched a new operational analytics platform that integrates AI and machine learning capabilities to deliver real-time insights for businesses. Oracle announced the acquisition of a leading analytics company to strengthen its operational analytics portfolio. These developments highlight the growing focus on operational analytics solutions in the market.