Market Analysis and Insights:
The market for Embedded Analytics was estimated to be worth USD 62.3 billion in 2023, and from 2024 to 2032, it is anticipated to grow at a CAGR of 12.1%, with an expected value of USD 175.37 billion in 2032.
The growth of the embedded analytics market can be linked to various factors. Primarily, the widespread adoption of cutting-edge technologies like big data analytics, artificial intelligence, and machine learning has played a significant role in driving this growth.
Organizations are increasingly realizing the importance of extracting valuable insights from their extensive data repositories to facilitate informed decision-making processes. Moreover, the escalating requirement for real-time data analysis and reporting has prompted the incorporation of embedded analytics into diverse applications and platforms. By enabling users to access and assess data within the same interface, embedded analytics eliminates the necessity for separate tools, thereby streamlining data manipulation tasks.
Additionally, the surging demand for self-service analytics has spurred the utilization of embedded analytics solutions, empowering business users to autonomously analyze data sans dependence on IT or data science teams. Furthermore, the escalating emphasis on data-centric decision-making and the quest for enhanced operational efficiencies have further bolstered the implementation of embedded analytics solutions across multiple sectors. In essence, advancements in technology and the increasing thirst for data-driven insights are poised to sustain the growth momentum of the embedded analytics market.
Embedded Analytics Market Scope:
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2032 |
| Study Period | 2018-2032 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2032 | USD 175.37 billion |
| Growth Rate | CAGR of 12.1% during 2024-2032 |
| Segment Covered | By Solutions, By Analytics Tools, By Business Functions, By Organization Sizes, By Industry Verticals, By Region. |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Microsoft Corporation, IBM Corporation, SAP SE, Oracle Corporation, SAS Institute Inc., MicroStrategy Incorporated, Tableau Software, TIBCO Software Inc., QlikTech International AB, and Information Builders Inc. |
Market Definition
Embedded analytics is the seamless incorporation of data analysis functionalities into software applications, enabling users to access valuable insights and make informed decisions based on data while staying within their workflow environment. This integrated approach enables organizations to harness the power of analytics without the need for users to navigate between different tools or interfaces. In the modern era of data-driven operations, the integration of analytical capabilities directly into existing software applications, platforms, or systems through embedded analytics is essential. This integration offers real-time insights and actionable intelligence within the context of users' day-to-day workflows, empowering organizations to make well-informed decisions and stay ahead in the competitive landscape. By eliminating the need for users to navigate between various systems or tools, embedded analytics reduces complexity and enhances overall productivity. Moreover, this approach allows businesses to democratize data and facilitate self-service analytics, granting non-technical users the ability to access and analyze data independently. Ultimately, the seamless integration of analytics into routine workflows can lead organizations to uncover deeper insights, enhance decision-making processes, and fuel business expansion.
Key Market Segmentation:
Insights On Key Solutions
Software
Software is expected to dominate the Global Embedded Analytics Market. Embedded analytics software provides businesses with the capability to integrate analytics directly into their existing systems and applications. This enables real-time data analysis, better decision-making, and improved operational efficiency. As organizations increasingly prioritize data-driven insights, the demand for software solutions that embed analytics into various business processes and applications is expected to grow significantly. Moreover, with the advancements in artificial intelligence and machine learning, software solutions are becoming more sophisticated and offering advanced analytics capabilities, further driving their dominance in the market.
Services
Services also plays a crucial role in supporting the successful implementation and adoption of embedded analytics solutions. Services such as consulting, implementation, training, and support are essential for businesses in integrating and utilizing embedded analytics effectively. These services help organizations customize and tailor the embedded analytics solutions to their specific needs, maximize the value derived from analytics, and ensure continuous support and maintenance. Although the demand for services is expected to grow, their dominance in the market may be relatively smaller compared to software due to the increasing availability of comprehensive embedded analytics software solutions that require less external service assistance.
Insights On Key Analytics Tools
Dashboard and Data Visualization
Dashboard and Data Visualization is expected to dominate the Global Embedded Analytics Market. This is because businesses and organizations are increasingly seeking easy-to-use, visually appealing tools that can provide meaningful insights from their data. Dashboards and data visualization tools allow users to quickly and effectively analyze complex data sets, identify trends, and make data-driven decisions. With a user-friendly interface and interactive visualizations, these tools enable stakeholders at all levels to understand and interpret data more effectively, leading to improved business performance and competitive advantage.
Self-Service Tools
Self-Service Tools, although not expected to dominate the Global Embedded Analytics Market, still play a significant role in empowering users with the ability to access and analyze data independently. These tools enable users to explore data, create personalized reports, and perform ad hoc queries without relying on IT or data analysts. By offering self-service capabilities, organizations can enhance productivity, enable faster decision-making, and promote a data-driven culture within their workforce. However, the dominance of this may be limited by the need for technical expertise and the complexity involved in data analysis.
Benchmarking
Benchmarking within Analytics Tools, focuses on comparing an organization's performance against industry standards or competitors. While benchmarking is a valuable practice for companies to understand their position in the market and identify areas for improvement, it is not expected to dominate the Global Embedded Analytics Market. Benchmarking often requires access to external data sources and specialized knowledge, making it more niche compared to other s.
Reporting
Reporting, the final in Analytics Tools, is essential for presenting and communicating data insights to stakeholders. However, it is also not expected to dominate the Global Embedded Analytics Market. While reporting tools provide static or interactive reports that summarize key metrics and KPIs, they are less dynamic and interactive compared to other s. Nevertheless, reporting remains a fundamental component of embedded analytics, ensuring that critical information is delivered in a clear and concise manner to support decision-making processes.
Insights On Key Deployment Modes
Cloud-Based
Cloud-Based deployment mode is expected to dominate the Global Embedded Analytics Market. With the increasing adoption of cloud-based solutions across industries, organizations are shifting towards cloud deployments for their analytics needs. The cloud-based deployment mode offers numerous advantages such as scalability, flexibility, cost-effectiveness, and easy access to data from anywhere at any time. Additionally, the cloud-based model allows for seamless integration with other cloud-based applications and services, enabling organizations to harness the power of embedded analytics to make data-driven decisions. As a result, the demand for cloud-based embedded analytics solutions is expected to surge in the coming years, making it the dominating in the Global Embedded Analytics Market.
On-Premises
On the other hand, while cloud-based deployments are expected to dominate the market, the on-premises still holds significance in the Global Embedded Analytics Market. Some organizations have strict data security concerns and regulatory requirements that necessitate keeping their data on-premises. These organizations prefer to have complete control over their analytics infrastructure and sensitive data, which makes on-premises deployments a suitable option. Although the growth rate of on-premises deployments may not be as rapid as cloud-based solutions, it will continue to cater to the needs of organizations with specific requirements.
Insights On Key Business Functions
Production
Production is expected to dominate the Global Embedded Analytics Market. As organizations strive for efficient and effective production processes, embedded analytics can significantly contribute to optimizing operations and improving decision-making. By integrating analytics seamlessly within production systems, manufacturers can gain real-time insights into their processes, identify bottlenecks, monitor quality control, and enhance overall productivity. Embedded analytics can also enable predictive maintenance and supply chain optimization, leading to cost savings and streamlined operations.
With its potential to drive process improvement and operational excellence, the Production is likely to dominate the Global Embedded Analytics Market.
Finance
The Finance within the By Business Functions category is also expected to play a significant role in the Global Embedded Analytics Market. Embedded analytics can empower finance professionals with real-time access to data and customizable dashboards, aiding in financial reporting, budgeting, and forecasting. With a deeper analysis of financial metrics and key performance indicators (KPIs), organizations can make informed decisions and drive growth.
Embedded analytics can also support risk management, fraud detection, and compliance efforts within the finance domain. As finance remains a critical function across industries, the Finance is likely to have a substantial impact on the Global Embedded Analytics Market.
Human Resources (HR)
In the era of data-driven decision-making, the Human Resources (HR) function is likely to embrace embedded analytics for enhancing talent management and workforce planning. By leveraging embedded analytics, HR professionals can access comprehensive employee data, measure performance, and identify skill gaps. Embedded analytics can also enable predictive analytics for workforce planning, enhance employee engagement, and facilitate the recruitment process.
With the increasing focus on people analytics and HR optimization, the HR holds significant potential within the Global Embedded Analytics Market.
Marketing and Sales
The Marketing and Sales also holds prominence within the Global Embedded Analytics Market. By leveraging embedded analytics, marketing and sales teams can gain insights into customer behavior, preferences, and market trends.
Real-time analytics can support targeted marketing campaigns, personalized customer experiences, and lead generation. Embedded analytics can aid in sales forecasting, territory optimization, and customer ation. By empowering marketing and sales professionals with actionable insights, the Marketing and Sales is expected to have a notable impact within the Global Embedded Analytics Market.
Others
The remaining s within the "Others" category may also contribute to the Global Embedded Analytics Market but might not dominate compared to the previously discussed s. These s may include various functional areas such as supply chain management, operations, customer service, and more. While embedded analytics can offer benefits in these areas, the level of dominance may vary based on industry and organizational priorities. Therefore, while the "Others" is expected to play a in the Global Embedded Analytics Market, it may not exert the same level of influence as the Production, Finance, HR, and Marketing and Sales s.
Insights On Key Organization Sizes
Small and Medium-Sized Enterprises (SMEs)
Small and medium-sized enterprises (SMEs) are expected to dominate the Global Embedded Analytics Market. These organizations typically have limited resources and rely on cost-effective solutions to meet their analytical needs. Embedded analytics provides SMEs with the ability to integrate analytical capabilities directly into their existing applications, eliminating the need for separate analytics tools or platforms. This holistic approach allows SMEs to leverage data insights in real-time, enhancing their decision-making process and improving operational efficiency. Furthermore, the scalability and flexibility of embedded analytics solutions cater to the evolving needs of SMEs as they grow and expand their businesses.
Large Enterprises
Large enterprises, although a significant player in the Global Embedded Analytics Market, are expected to have a relatively smaller market share compared to SMEs. These organizations often have greater financial resources and more sophisticated IT infrastructures, enabling them to adopt comprehensive analytics solutions tailored to their specific needs. While embedded analytics offers value to large enterprises, they may already have established analytics platforms and may opt to enhance their existing systems rather than adopting embedded analytics solutions. However, large enterprises operating in niche industries or seeking to streamline their analytical processes may still find embedded analytics beneficial in improving decision-making and accelerating insights delivery.
Insights On Key Industry Verticals
Healthcare And Life Sciences:
Based on the available data and trends in the global embedded analytics market, the Healthcare And Life Sciences industry vertical is expected to dominate this market. The increasing adoption of digital healthcare solutions and the need for real-time analytics in healthcare organizations are driving the demand for embedded analytics in this sector. With the integration of embedded analytics, healthcare providers can analyze large volumes of patient data and gain valuable insights for improving patient care, operational efficiency, and decision-making. Additionally, the implementation of electronic health records (EHR) and the emphasis on personalized medicine further contribute to the growing demand for embedded analytics in the Healthcare And Life Sciences sector.
Retail and Consumer Goods:
The Retail and Consumer Goods industry vertical is also expected to play a significant role in the global embedded analytics market.
Retailers and consumer goods companies are increasingly utilizing embedded analytics to gain insights into customer behavior, improve customer experience, optimize inventory management, and enhance overall operational efficiency. With the integration of embedded analytics, retailers can analyze sales data, customer preferences, and market trends in real-time, allowing them to make data-driven decisions and offer personalized experiences to their customers. This adoption of embedded analytics in the retail and consumer goods sector is driven by the need to stay competitive in a rapidly evolving market and meet the ever-changing demands of consumers.
BFSI (Banking, Financial Services, and Insurance): The BFSI industry vertical is another key player in the global embedded analytics market. Financial institutions, including banks, insurance companies, and investment firms, are leveraging embedded analytics to gain insights into financial data, detect fraud, prevent risks, and provide personalized financial advice to their customers. Embedded analytics enables these institutions to make informed decisions, improve operational efficiency, and enhance customer satisfaction. With the increasing reliance on data analytics in the financial sector, embedded analytics is expected to continue dominating the BFSI industry vertical in the global market.
IT and Telecommunication:
The IT and Telecommunication sector is experiencing a significant demand for embedded analytics solutions. With the increasing complexity of IT systems and the need for real-time insights, companies in this sector are adopting embedded analytics to monitor network performance, analyze customer data, and optimize resource allocation. Embedded analytics enables IT and telecommunication companies to improve service quality, identify bottlenecks, enhance customer experiences, and make data-driven decisions. As a result, this sector is expected to contribute substantially to the global embedded analytics market.
Manufacturing, Government, Energy And Utilities, Others: Among the remaining s of the By Industry Verticals group, Manufacturing, Government, Energy and Utilities, and Others are also expected to have a presence in the global embedded analytics market. However, their individual dominance in the market is relatively lower compared to the Healthcare And Life Sciences, Retail and Consumer Goods, and BFSI sectors. In these industries, embedded analytics can be utilized for various purposes such as enhancing operational efficiency, improving resource management, optimizing production processes, and streamlining decision-making. While they may not dominate the market, these industry verticals are expected to have a significant demand for embedded analytics solutions in their respective domains.
Insights on Regional Analysis:
North America
North America is expected to dominate the Global Embedded Analytics Market. The region is home to several key players in the embedded analytics industry, including major software vendors and technology giants. Additionally, North America has a mature and well-established IT infrastructure, which provides a strong foundation for the adoption of embedded analytics solutions. The region's advanced data analytics capabilities, strong focus on innovation, and high demand for real-time insights further contribute to its dominance in the market. Furthermore, businesses across various sectors in North America are increasingly recognizing the value of embedded analytics in improving decision-making processes and gaining a competitive edge, driving the market growth in the region.
Latin America
Latin America is witnessing significant growth in the adoption of embedded analytics solutions. The region is characterized by a growing economy, expanding digitalization, and increasing investments in technology infrastructure. As organizations in Latin America strive to become more data-driven, there is a rising demand for embedded analytics to extract actionable insights from their vast data sources. The integration of analytics capabilities into existing business applications allows companies in the region to enhance decision-making processes, improve operational efficiency, and drive business growth. These factors, coupled with the presence of major software vendors and the increasing penetration of cloud-based analytics solutions, position Latin America as a promising market for embedded analytics.
Asia Pacific
Asia Pacific is emerging as a lucrative market for embedded analytics, driven by rapid digital transformation across industries in the region. The increasing adoption of big data analytics, IoT, and artificial intelligence solutions presents immense opportunities for embedded analytics vendors in Asia Pacific.
The region's large population, strong digital infrastructure, and growing smartphone penetration contribute to the generation of vast amounts of data, which can be leveraged through embedded analytics to gain valuable insights. Additionally, the rise of e-commerce, online retail, and the need for real-time business intelligence are fueling the demand for embedded analytics solutions in Asia Pacific. As a result, the region is witnessing substantial investments and nerships in the embedded analytics market, making it a key contender for market dominance.
Europe
Europe is poised to experience significant growth in the embedded analytics market. The region's advanced technological infrastructure, stringent regulatory compliance standards, and focus on data privacy and security create favorable conditions for the adoption of embedded analytics solutions. European organizations are increasingly recognizing the need to harness the power of data analytics to drive business performance and gain a competitive advantage.
The integration of embedded analytics into business applications enables companies in Europe to enhance decision-making, optimize operations, and improve customer experience. The presence of a large number of key players in the European market, along with the growing emphasis on digital transformation, positions the region as a major player in the global embedded analytics market.
Middle East & Africa
The Middle East & Africa region is witnessing a growing interest in embedded analytics solutions. The region's rapidly expanding digital economy, increasing investments in technology infrastructure, and the need to drive innovation and efficiency in business operations are driving the adoption of embedded analytics. Organizations in this region are recognizing the importance of data-driven decision making and are leveraging embedded analytics to gain actionable insights from their data. The deployment of these solutions helps businesses in the Middle East & Africa improve operational efficiency, optimize resource allocation, and drive growth. With the increasing technology advancements and initiatives promoting digital transformation in the region, embedded analytics is expected to gain significant traction, making it an important of the global market.
Company Profiles:
Major partparticipants in the worldwide Embedded Analytics sector assume a vital function by furnishing enterprises with unified analytics functionalities embedded within their current software platforms, facilitating evidence-based decision-making and enhanced corporate intelligence. Their duties encompass crafting and dispersing sophisticated analytics resources and resolutions that smoothly amalgamate with customers' structures, aiding them in extracting valuable perceptions and advancing operational effectiveness. Prominent entities in the Embedded Analytics sector comprise Microsoft Corporation, IBM Corporation, SAP SE, Oracle Corporation, SAS Institute Inc., MicroStrategy Incorporated, Tableau Software, TIBCO Software Inc., QlikTech International AB, and Information Builders Inc.
COVID-19 Impact and Market Status:
The global demand for embedded analytics solutions has seen a significant increase due to the Covid-19 pandemic, with businesses depending on data-driven insights to maneuver through the volatile market circumstances. The global COVID-19 crisis has had a
significant impact on the embedded analytics sector. As the economy faces a slowdown, many companies have been compelled to scale back their investments in technology and software, which includes embedded analytics solutions. This reduction in spending has led to a decrease in the demand for embedded analytics tools across a range of industries such as healthcare, retail, finance, and manufacturing. Moreover, the implementation of social distancing protocols and remote work practices has disrupted normal business operations, resulting in the postponement or cancellation of projects related to the integration of analytics software.Nevertheless, the pandemic has underscored the crucial role of data-driven decision-making. This has prompted a greater appreciation of the value of embedded analytics in assisting organizations in navigating through uncertain circumstances. As businesses look to recover and rebuild in the aftermath of the pandemic, there is an anticipated resurgence in the emphasis on leveraging embedded analytics to access real-time insights, monitor operations, and make informed strategic choices. Consequently, although the embedded analytics market has experienced a temporary setback due to COVID-19, it is also poised for growth opportunities as companies prioritize data analytics to propel business expansion and enhance resilience.
Latest Trends and Innovation:
- In March 2019, Qlik Technologies acquired Attunity, a provider of data integration and big data management software. The acquisition aimed to strengthen Qlik's ability to deliver real-time data, enable cloud analytics, and enhance data lake management capabilities.
- In October 2019, Tableau Software was acquired by Salesforce. The acquisition aimed to combine Tableau's data visualization and analytics capabilities with Salesforce's customer relationship management (CRM) platform, enabling customers to gain insights from their data and make data-driven decisions.
- In June 2020, Looker, a leading data platform company, was acquired by Google Cloud. The move aimed to strengthen Google Cloud's data analytics and business intelligence capabilities, enabling customers to access, analyze, and visualize their data in real-time.
- In July 2020, TIBCO Software acquired Information Builders, a provider of business intelligence (BI) and data analytics solutions. The acquisition aimed to enhance TIBCO's analytics offerings, providing customers with advanced capabilities for data integration, data quality, and data governance.
- In November 2020, Sisense acquired Periscope Data, a data analytics and visualization platform. The acquisition aimed to strengthen Sisense's capabilities in embedded analytics and expand its market reach.
- In January 2021, Alteryx acquired Feature Labs, a provider of automated feature engineering technology. The acquisition aimed to enhance Alteryx's data science and analytics platform, enabling customers to accelerate their analytics workflows and derive insights from complex datasets.
- In February 2021, TIBCO Software announced its acquisition of Information Builders' iWay Software suite. The acquisition aimed to strengthen TIBCO's capabilities in data integration and management, enabling customers to connect and unify their data sources for analytics and decision-making.
- In April 2021, Microsoft acquired Nuance Communications, a leader in conversational AI and cloud-based speech recognition. The acquisition aimed to enhance Microsoft's industry-specific cloud offerings, including healthcare analytics and transcription services.
- In May 2021, ThoughtSpot, a provider of search and AI-driven analytics platforms, acquired SeekWell, a data engineering platform. The acquisition aimed to enable customers to seamlessly integrate data engineering and analytics capabilities, empowering them to derive insights from diverse data sources.
- In June 2021, Sisense announced the acquisition of Percepto, an AI-powered analytics platform. The acquisition aimed to enhance Sisense's capabilities in machine learning and artificial intelligence, enabling customers to leverage data-driven insights for improved business outcomes.
Significant Growth Factors:
The embedded analytics market is witnessing significant growth due to several key drivers, such as the growing need for real-time data analysis, the increasing use of advanced analytics tools, and the rising requirement for data-centric decision-making processes in the corporate sector. The market for Embedded Analytics is poised
for substantial growth in the foreseeable future, driven by various key factors. Primarily, the escalating uptake of data-centric decision-making practices across diverse industries is creating a need for embedded analytics solutions. Companies are increasingly realizing the importance of leveraging real-time data to derive valuable insights and facilitate well-informed business choices. Additionally, the growing emphasis on enhancing cost efficiencies and operational productivity is boosting the demand for embedded analytics. These solutions enable organizations to conduct data analysis within their current applications and systems, thereby obviating the requirement for separate analytics tools.
Furthermore, the increasing preference for cloud-based services is playing a significant role in the adoption of embedded analytics, offering advantages like scalability, adaptability, and cost efficiency. Moreover, the surge in mobile device usage and the demand for convenient access to analytics on-the-go are contributing to market expansion, as embedded analytics platforms empower users to retrieve data and insights from any location and at any time. Lastly, the advent of cutting-edge technologies such as artificial intelligence and machine learning is accelerating the integration of embedded analytics. These advanced technologies enhance data examination capabilities and enable predictive and prescriptive analytics functions.
Restraining Factors:
Challenges encountered within the EmbeddedAnalytics Market encompass issues related to ensuring data security and the intricacies involved in integrating with current systems. The market for embedded analytics has experienced notable growth in recent years; however, there are various factors that could hinder its further development. One major challenge is the scarcity of skilled professionals and experts in the embedded analytics domain, making it difficult for enterprises to find individuals with the necessary technical skills and knowledge to effectively implement such solutions. Additionally, the high costs associated with deploying embedded analytics systems can be prohibitive, especially for small and medium-sized enterprises (SMEs). The upfront expenses for infrastructure development and software licensing may discourage organizations from incorporating embedded analytics into their operations.
Concerns about data security and privacy also serve as obstacles to widespread adoption, as organizations are cautious about sharing sensitive information and outsourcing data management. Moreover, the complexity of integrating embedded analytics with existing IT infrastructures and applications can be a time-consuming and challenging process. Despite these hurdles, it is important to recognize the significant potential of the embedded analytics market. As businesses increasingly prioritize data-driven decision-making and operational efficiency, the demand for embedded analytics solutions is expected to grow. Technological advancements such as cloud computing and artificial intelligence are likely to mitigate some of the current limitations, making embedded analytics more accessible and cost-effective. By investing in training, addressing security issues, and continuing to innovate, the market is well-positioned for expansion, creating opportunities for both vendors and enterprises.
Key Segmentation:
Solutions Overview
• Software
• Services
Analytics Tools Overview
• Dashboard and Data Visualization
• Self-Service Tools
• Benchmarking
• Reporting
Deployment Modes Overview
• On-Premises
• Cloud-Based
Business Functions Overview
• Finance
• Human Resources (HR)
• Marketing and Sales
• Production
• Others
Organization Sizes Overview
• Small and Medium-Sized Enterprises (SMEs)
• Large Enterprises
Industry Verticals Overview
• BFSI
• IT and Telecommunication
• Retail and Consumer Goods
• Healthcare and Life Sciences
• Manufacturing
• Government
• Energy and Utilities
• Others
Regional Overview
North America
• US
• Canada
• Mexico
Europe
• Germany
• France
• U.K
• Rest of Europe
Asia Pacific
• China
• Japan
• India
• Rest of Asia Pacific
Middle East and Africa
• Saudi Arabia
• UAE
• Rest of Middle East and Africa
Latin America
• Brazil
• Argentina
• Rest of Latin America
Frequently Asked Questions (FAQ) :
The major contenders in the global embedded analytics market Microsoft Corporation, IBM Corporation, SAP SE, Oracle Corporation, SAS Institute Inc., MicroStrategy Incorporated, Tableau Software, TIBCO Software Inc., QlikTech International AB, and Information Builders Inc.
The base year for the report is 2023 in embedded analytics market
The global embedded analytics Market is Segmented on the basis By Solutions, By Analytics Tools, By Business Functions, By Organization Sizes, By Industry Verticals, By Region.