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Advanced Analytics Market revenue to cross USD 590 Billion by 2035, says Research Nester

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New York, July 24, 2023 (GLOBE NEWSWIRE) — The global advanced analytics market size is expected to expand at ~24.6% CAGR from 2023 to 2035. The market is anticipated to garner a revenue of USD 590 billion by the end of 2035, up from a revenue of ~USD 42 billion in the year 2022. This remarkable expansion can be attributed to factors such as the adoption of cloud-based analytics the rise of automation and artificial intelligence and the growing need for predictive analytics, across diverse industries. By 2025, 86% of organizations are projected to prioritize cloud-first technologies and cloud storage will hold, over 58% of all data.

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Furthermore, there will be a shift in IT spending with, around 52% allocated to solutions instead of traditional IT tools by 2025. By leveraging cloud-based analytics organizations can reap advantages such, as enhanced data security minimized IT expenses, and optimized efficiency. Automation and AI play roles in streamlining processes while predictive analytics empowers organizations to make well-informed decisions. It is anticipated that the escalating demand for these cutting-edge technologies will be a driver, in fuelling the growth of the cloud computing market in the future.

Advanced Analytics Market: Key Takeaways

  • Market in North America to propel the highest growth
  • The BFSI segment to garner the highest growth
  • Market in Asia Pacific to grow at a highest rate

Rising Adoption of the Internet of Things (IoT) And The Increasing Need to Enhance Customer Experience to Boost Market Growth

IoT has enabled businesses to collect real-time data from various sources and use it to improve customer experience. This data can be used to customize products and services for customers, as well as to identify customer preferences and trends to optimize strategies and operations. An IoT report shows that 15 billion active IoT endpoints are expected to exist in 2022, representing a 19% increase over the previous year. By 2023, 17 billion active IoT devices will be connected globally, a growth of 17%.

IoT enables the collection of data from multiple sources and allows for the analysis of this data in real time. This data can then be used to identify trends and patterns, allowing organizations to make better decisions and optimize operations. By using advanced analytics, companies can gain insight into their customer base and use that information to create better customer experiences.

Advanced Analytics Market: Regional Overview

The global advanced analytics market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region. 

Rapid Adoption of Advanced Analytics Technology, such as Artificial Intelligence and Machine Learning to Drive Growth in The North American Region

The advanced analytics market in the North American region is estimated to garner the largest revenue of 45% by the end of 2035. Governments in the region are creating policies to promote the adoption of advanced analytics, such as providing tax incentives and grants for companies that invest in these technologies.

Additionally, the increasing investments by venture capitalists and investment firms are expected to further accelerate the development of the industry. For instance, in December 2021, Microsoft Corporation partnered with CVS Health to develop an innovative solution for enhancing consumer health. The company automated its tasks by leveraging Azure Cognitive services such as Computer Vision. Advanced analytics technology, such as artificial intelligence and machine learning, are becoming more accessible and available to businesses in the region. This is expected to increase the number of businesses leveraging these technologies, which will drive further innovation and growth.

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Ever Increasing Digitalization Among Businesses to Drive the Growth in the Asia Pacific Region

The Asia Pacific advanced analytics market is estimated to garner a significant revenue of 24% by the end of 2035. Businesses are leveraging customer analytics to gain insights into customer behaviors, preferences, and trends. This helps them to make informed decisions that can help them increase their efficiency, reduce costs, and increase their profitability.

Additionally, the region has seen a digital transformation across many industries, leading to increased investments in analytics and AI. The digital transformation sector in India has grown at a CAGR of more than 16%, from USD 195 billion in FY20 to USD 226 billion in FY22. A 2027 forecast assumes that the IT sector in India will be worth approximately USD 395 billion. As businesses move more of their operations digitally, they will need more sophisticated ways of understanding customer behavior and trends to make decisions. Advanced analytics is the perfect tool for this, as it can provide insights into customer behavior that would otherwise be difficult to obtain.

Advanced Analytics Segmentation by Application

  • BFSI
  • IT & Telecom
  • Healthcare
  • Government & Defense
  • Transportation
  • Retail

The BFSI segment is anticipated to hold the largest revenue of 29% by the end of 2035 due to the increasing demand for predictive analytics and machine learning in the banking and financial services industry, which enables them to better understand customer behavior and optimize operations.

Additionally, the introduction of digital banking solutions, such as online banking, mobile banking, and artificial intelligence-based chatbots, has further contributed to the increasing demand for advanced analytics in the BFSI sector. Based on data 50% of adults, in the United States utilize digital banking services. Furthermore, the younger generations, Gen Z and millennials are more inclined towards such services, with a staggering 98% actively engaging with them. On a scale, it is projected that the number of users opting for banking will surpass 3.5 billion by the year 2024.

Advanced Analytics Segmentation by Type

  • Big Data Analytics
  • Business Analytics
  • Customer Analytics
  • Risk Analytics
  • Statistical Analytics

The big data analytics segment is anticipated to hold the largest revenue of 35% by the end of 2035 due to the increasing demand for big data analytics solutions across various industries such as IT & telecommunications, banking & financial services, healthcare, and retail.

Furthermore, the increasing number of organizations embracing digital transformation and producing big data on a large scale is expected to propel the growth of the segment shortly. The amount of data generated each day is approximately 2.6 quintillion bytes. By 2028, Big Data analytics could reach USD 80 billion in the healthcare sector. As businesses become more data-driven, they need to find ways to analyze and interpret their data to make informed decisions. Advanced analytics tools such as machine learning, artificial intelligence, and predictive analytics are becoming increasingly popular as they allow businesses to quickly and accurately analyze large amounts of data and make better decisions.

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Advanced Analytics Segmentation by Deployment Type

  • On-Premise
  • Cloud

A few of the well-known market leaders in the global advanced analytics market that are profiled by Research Nester are Altair Engineering, Inc., Fair Isaac Corporation FICO, International Business Machines Corporation, KNIME, Microsoft Corporation, Oracle Corporation, RapidMiner, Inc., SAP SE, SAS Institute Inc., Trianz., and other key market players.

Recent Development in the Market

  • IBM has released its newest software, IBM Business Analytics Software. This software helps businesses decode business insights from large amounts of data without disrupting their operations. It improves business efficiency through intelligent planning, forecasting, and reporting.
  • A collaboration between SAS and the Monetary Authority of Singapore involves integrating AI-advanced solutions into the financial sector with a Veritas toolkit. It contributes to the optimization of workflow automation and capabilities.

About Research Nester

Research Nester is a one-stop service provider with a client base in more than 50 countries, leading in strategic market research and consulting with an unbiased and unparalleled approach towards helping global industrial players, conglomerates and executives for their future investment while avoiding forthcoming uncertainties. With an out-of-the-box mindset to produce statistical and analytical market research reports, we provide strategic consulting so that our clients can make wise business decisions with clarity while strategizing and planning for their forthcoming needs and succeed in achieving their future endeavors. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds.


GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Artificial Intelligence

Elevate Your Virtual Reality Experience with KIWI design RGB Vertical Stand, Now Available on Meta’s Website

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LOS ANGELES, May 11, 2024 /PRNewswire/ — Top-tier VR accessories provider KIWI design has launched its latest product, the RGB Vertical Stand. This Meta-authorized accessory, designed to deepen users’ immersion in the metaverse, is now available on the official Meta website.

“KIWI design’s commitment to pushing the boundaries of virtual reality accessories takes another leap forward with the introduction of our new products,” said Ray,the CEO of KIWI design. “We are always dedicated to bringing innovative upgrades to VR device accessories, with the goal of enriching users’ virtual reality experiences.”
The newly launched RGB Vertical Stand features a user-friendly modular design with push-in assembly, making it easy to set up and use. It is compatible with Meta Quest 3, Quest 2, and Quest Pro, ensuring widespread usability. With a magnetic USB Type-C connector, it provides an effortless way to charge and display your headset. Users can also customize their display with 16 pre-set ambient multicolor RGB light options.
With VR technology constantly evolving, users are seeking more immersive experiences. As a leading manufacturer of VR accessories, KIWI design is committed to enhancing the user experience, through unique product designs. Since its establishment in 2015, KIWI design has acquired over 100 patents and has a diverse product lineup, including head straps, facial interfaces, VR stands, charging accessories, and controller grip covers.
KIWI design has also actively participated in the Made for Meta program, which is provided by Meta to strengthen its partnerships with leading brands to deliver accessories that enhance Meta products with more choice and a richer experience for everyone. KIWI design’s participation in this program validates its high-quality design standards.
The RGB Vertical Stand for Meta Quest 3, Quest 2, and Quest Pro and another specially designed authorized charging dock for the Meta  Oculus Quest 2 are now available for purchase on both KIWI design’s website and Amazon. For more information about our brand and products, please visit our website and follow KIWI design on Facebook, Instagram, X, YouTube and TikTok.
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WIO Taps Gracenote to Revolutionize Television Broadcast Reporting

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LOS ANGELES, May 11, 2024 /PRNewswire/ — WIO LLC, parent company of the global TV broadcast airings platform, WIOpro™, has announced a new strategic agreement with Gracenote, the global content data business unit of Nielsen, to address the longstanding challenge of accurately tracking and collecting music royalties generated by broadcast television and digital programming, With this agreement, WIO will integrate Gracenote TV program metadata and show airings into its WIOpro™ (“When’s It On – Professional”) platform enabling performance rights organizations, copyright management organizations and other entities to better monitor broadcast schedules and identify when royalties have been earned.

By integrating Gracenote historical program data into WIOpro’s new LookBack™ feature, WIO is enhancing its reporting capabilities and empowering Collection Societies, Rights Management Companies and the royalty-earning community to more easily monitor and export broadcast airings and better understand collections opportunities.
“At WIO, we are committed to empowering collection societies and copyright holders around the world with our platform tools and unprecedented access to the best and most accurate television broadcast and streaming data available,” said Shawn Pierce, Co-Founder and CEO of WIO LLC. “We have enjoyed an incredible relationship with Gracenote for 10 years. With the solidification of this agreement, we are able to deliver an unrivaled dataset to the royalty and residual community in a way that has not been offered before.” said Adam Shafron, Co-Founder and CTO of WIO LLC.
“WIO’s platform developed to solve the difficult matter of royalty tracking only becomes more powerful based on the integration of accurate, timely and comprehensive Gracenote metadata,” said Scott Monahan, Director, Strategic Partnerships, Gracenote. “We look forward to the combination of WIOpro’s technology and Gracenote’s program metadata delivering on the promise of transforming music royalty collection so that rights holders can be fairly compensated for use of their work.”
WIO and Gracenote will be at the MusicBiz 2024 conference in Nashville, TN May 13 – 16. Contact Dave Pelman, COO of WIO LLC at [email protected] for media queries or to book an appointment for a product demonstration.
About WIO:WIO is a technology company dedicated to providing broadcast television and digital programming data tailored specifically for the royalty and residual collection industry. Through its platform WIOpro (wiopro.com), users obtain access to real-time broadcast insights, reporting and curated data delivery.
About Gracenote:Gracenote is the content data business unit of Nielsen providing entertainment metadata, connected IDs and related offerings to the world’s leading creators, distributors and platforms. Gracenote enables advanced content navigation and discovery capabilities helping individuals easily connect to the TV shows, movies, music, podcasts and sports they love while delivering powerful content analytics making complex business decisions simpler.
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IDTechEx Explores Printed Electronics in Electrified and Autonomous Mobility

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BOSTON, May 10, 2024 /PRNewswire/ — Electrification, autonomy, and vehicle ownership saturation are causing a technological revolution in the automotive sector. These automotive meta-trends are driving drastic changes in electronic component requirements and present a high-volume opportunity for printed electronics to capitalize on.

Historically, printed electronics technologies have nurtured a close relationship with the automotive sector, with printed force sensors pioneering passenger safety through seat occupancy and seatbelt detection. As such, the automotive sector continues to represent the lion’s share of the global printed and flexible sensor market, which IDTechEx’s report on the topic evaluates as worth US$421M in 2024. However, if the automotive sector is to continue to be a reliable revenue stream, printed electronics technology providers must adapt to address the emerging technical challenges facing future mobility.
Augmenting autonomous vehicles with printed electronics
As vehicle autonomy levels advance, the increasing number and distribution of spatial mapping sensors required will need continuous performance improvements to ensure passenger safety. Emerging printed electronics technologies can augment these sensors, extending detection bandwidth and maximizing reliability during operation.
Transparent conductive films (TCFs) are being developed to heat and defog LiDAR sensor panels, ensuring the function is unperturbed by external environmental conditions. Properties such as high transparency and low haze are important for defogging. These properties can be easily tuned using the wide variety of material options available for TCFs, including carbon nanotubes and silver nanowires.
IDTechEx identifies printed heating as a leading application of transparent conductive films. This is attributed to diminishing growth prospects in capacitive touch sensing applications. Innovations in thin film coating techniques have enabled indium tin oxide (ITO) to dominate touch sensing applications, all but displacing TCFs completely.
Looking towards the future, printed electronics technologies could play a more active role in advanced autonomous driving. Emerging semiconductive materials, such as quantum dots, printed directly onto conventional silicon image sensor arrays can extend detection range and sensitivity deeper into the infrared region. Augmenting existing image sensor technology with enhanced spectral range could facilitate the competition of hybrid silicon sensors with established InGaAs detectors.
Printed sensors promise granularized battery health monitoring
Vehicle electrification is driving the sustained development and evolution of electronic management systems, particularly in the battery and electric drivetrain. A strong market pull exists for technologies that increase vehicle efficiency, range, and lifetime while reducing recharge times.
Printed pressure and temperature sensors measure battery cell swelling and thermal profiles, providing granularized physical data that can be used to optimize battery deployment and recharging. Moreover, hybrid printed sensors that combine integrated printed heating elements promise a solution to actively address battery temperature. IDTechEx estimates that printed sensor-enabled battery deployment and charging optimizations could be worth up to US$3000 in savings per vehicle.
There remains uncertainty about whether electrification trends will correspond to increased demand for physical sensors in electric vehicle batteries, owing to the utility of existing electronic readouts for managing deployment. Virtual sensors also pose a threat, where AI-enabled software models interpret data to predict and emulate physical sensor functions without the need for discreet components. However, emerging regulations regarding safety and sensor redundancy will likely favor measurable metrics and see automotive makers continue to adopt physical sensors. IDTechEx predicts that virtual sensors are unlikely to displace their physical counterparts – so long as low-cost sensors remain widely available.
Embedding printed electronics in the car of the future
IDTechEx predicts that global car sales will saturate over the next decade, with automakers increasingly looking for premium features and technical innovations to differentiate themselves from the competition. In-cabin technologies will be highly desirable – as the location where passengers reside and interact with the vehicle the most.
Lighting elements are emerging as a prominent differentiator, described as “the new chrome” by Volkswagen’s chief designer. The use of in-mold structural electronics (IMSE) enables the integration of embedded lighting elements using existing manufacturing processes. 3D electronics technologies are intrinsically attractive for automotive integration, as functional layers are conformable and lightweight while easily embedded within existing aesthetic elements.
Despite strong tailwinds, the adoption of in-mold electronics within automotive interiors has been sluggish. This is attributed to the challenges of meeting automotive qualification requirements, as well as stiff competition with less sophisticated alternatives such as applying functional films to thermoformed parts. Nevertheless, momentum is building, with technology providers like Tactotek partnering with Mercedes-Benz and Stallantis to progress the automotive validation of IMSE to TRL5.
Outlook for printed electronics in automotive applications
Just as printed force sensors heralded early passenger safety systems, printed electronics technology is poised to underpin next-generation innovations for the car of the future. But this time, the competition will be stiff. Critical cost requirements must be met, while desirable new functionality must address existing challenges faced by manufacturers. Printed electronics can play a role in supporting emerging electrified and autonomous mobility, such as augmenting LiDAR sensors or optimizing electric battery deployment. Demand for technologies that enhance passenger experience and vehicle aesthetics will continue to grow, and printed electronics can supply low-power, lightweight lighting solutions for these.
Sustained engagement from tier suppliers and manufacturers continues to make the automotive sector key to printed sensor market growth opportunities – a total market IDTechEx predicts will reach US$960M by 2034. Strong partnerships between material providers and printed electronics technology providers are complementary to those of the highly vertically integrated automotive value chains between tier suppliers and OEMs. Leveraging printing techniques to provide solutions that slot into existing manufacturing processes and designs will be crucial. In the medium term, the printed electronics technologies most likely to realize revenue potential are those that can adapt to service emerging challenges already known to the automotive industry.
For more information on IDTechEx’s research on this topic, please see their report, “Printed and Flexible Sensors 2024-2034: Technologies, Players, Markets”. Downloadable sample pages are available for this report.
For the full portfolio of printed and flexible electronics market research from IDTechEx, please visit www.IDTechEx.com/Research/PE.
About IDTechEx:
IDTechEx provides trusted independent research on emerging technologies and their markets. Since 1999, we have been helping our clients to understand new technologies, their supply chains, market requirements, opportunities and forecasts. For more information, contact [email protected] or visit www.IDTechEx.com. 
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