Market Analysis
Market Research Future (MRFR) projects the global dark analytics market size to hit USD 880.50 Million at a compound annual growth rate (CAGR) of 25.08% from 2020 to 2027 (forecast period).
Growing Adoption of IoT Across Industry Verticals
Dark analytics is the analysis of information assets gathered, processed, and stored by an organization as part of its regular business operations. Technological advancements such as computer vision, pattern recognition, and cognitive analytics enable firms to focus on unstructured information for accurate decision making and an improved user experience.
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The growing adoption of IoT across many industry verticals is propelling the Dark Analytics Market forward. According to an analysis, there will be around 500 billion devices in the connected ecosystem by the end of 2030. As this IoT ecosystem grows, so will the volume of data collected, the majority of which will be dark data comprised of structured and unstructured data. Dark analytics solutions are capable of analyzing such vast amounts of unstructured and untapped data and assisting enterprises in gaining actionable business insights for better decision making. Furthermore, the increasing use of modern technologies such as artificial intelligence and machine learning to analyze data is prompting enterprises to use dark data solutions in order to boost their ROI.
Market Segmentation
The global dark analytics industry has been broadly segmented on the basis of component, deployment, application, and industry vertical.
By component, the global dark analytics market has been segmented into solutions and services.
By deployment, the global dark analytics market has been segmented into on-cloud and on-premise.
By application, the global dark analytics market has been segmented into operations, finance, human resource, and marketing.
By industry vertical, the global dark analytics market has been segmented into IT and telecommunication, BFSI, retail and e-commerce, government, healthcare, media and entertainment, and others.
Regional Analysis
North America to Dominate the Global Market
During the projected period, North America is expected to dominate the dark analytics market. The region is known for being a technological innovator and early adoption of technology. Organizations throughout the region are quickly implementing dark analytics solutions to evaluate the massive amounts of data generated by advanced technologies such as IoT and big data. The region is also a center for the major providers of dark analytics solutions, who are extensively spending in research and development to add new features to their systems and enhance their capabilities. The region has been divided into three countries: the United States, Canada, and Mexico.
Europe to Follow North America
In terms of market share, Europe follows North America in the worldwide dark analytics market. As the European government focuses on data security compliance and legal challenges, the region's adoption of dark analytics solutions is increasing.
Key Players
The prominent players active in the global dark analytics market are Amazon Web Services, Inc. (US), Symantec Corporation (US), Microsoft Corporation (US), SAP SE (Germany), IBM Corporation (US), Teradata (US), Datameer, Inc. (US), Micro Focus (UK), SAS Institute Inc. (US), and Dell Inc. (US).
Other players include Zoho Corporation (US), AvePoint, Inc. (US), Commvault (US), TIBCO Software Inc. (US), Zoomdata (US), Veritas (US), Deloitte (US), Synerscope (The Netherlands), and Datumize (Spain) among others.
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Dark Analytics Market Research Report: Information by Technology (Hall Effect, Magneto Resistive, Variable Reluctance), By Application (Automotive, Industrial, Aerospace & Defense, Consumer Electronics) and Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America)—Forecast till 2030
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