Performance Analytics Market Report by Component (Solution, Service), Deployment Mode (On-premises, Cloud-based), Organization Size (Large Enterprises, Small and Medium Enterprises), Application (Financial Performance, Sales and Marketing Performance, IT Operations Performance, Supply Chain Performance, Employee Performance, and Others), Industry Vertical (BFSI, IT and Telecom, Retail, Government and Defense, Healthcare, Manufacturing, and Others), and Region 2024-2032
The global performance analytics market size reached US$ 3.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 14.6 Billion by 2032, exhibiting a growth rate (CAGR) of 16.3% during 2024-2032.
Report Attribute
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023
US$ 3.6 Billion
Market Forecast in 2032
US$ 14.6 Billion
Market Growth Rate (2024-2032)
16.3%
Performance analytics collects and analyzes information to meet business objectives and projections. Its main features include embedded dashboards, key performance indicators (KPIs), and purpose-built metrics to measure and accelerate performance. It offers real-time visibility for instant insights into current patterns and trends, thereby enhancing decision-making. Nowadays, due to the digital transformation of core business processes, performance analytics is widely adopted by different organizations to aggregate, track, and visualize KPIs. It is also used to gain actionable insights, share up-to-date visualizations, anticipate trends, and monitor performance to identify areas for improvement.
Performance Analytics Market Trends:
A significant shift towards online banking solutions is creating huge amounts of financial data. This represents one of the key factors influencing the adoption of performance analytics in the banking, financial services, and insurance (BFSI) sector worldwide. Performance analytics provides fast closing times, tight controls and auditability, real-time consolidation, and elimination of manual errors. Moreover, small and medium-sized enterprises (SMEs) are increasingly relying on performance analytics to understand consumer needs and behavior, improve business performance, and gain a competitive advantage. Additionally, due to the growing access to medical services, healthcare organizations are adopting performance analytics around the world. It assists them in improving transparency in clinical and financial outcomes and making timely, strategic, and operational decisions using actionable, highly reliable data. Apart from this, a considerable rise in the utilization of e-learning solutions on account of the coronavirus disease (COVID-19) outbreak and temporary school closures are contributing to the market growth. Furthermore, several companies are offering advanced performance analytics using artificial intelligence (AI) services, which is further increasing its applications in automated network solutions for transport operations.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global performance analytics market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on component, deployment mode, organization size, application and industry vertical.
Breakup by Component:
Solution
Service
Breakup by Deployment Mode:
On-premises
Cloud-based
Breakup by Organization Size:
Large Enterprises
Small and Medium Enterprises
Breakup by Application:
Financial Performance
Sales and Marketing Performance
IT Operations Performance
Supply Chain Performance
Employee Performance
Others
Breakup by Industry Vertical:
BFSI
IT and Telecom
Retail
Government and Defense
Healthcare
Manufacturing
Others
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being International Business Machines Corporation, Microsoft Corporation, Optymyze, Oracle Corporation, Prophix Software Inc., SAP SE, SAS Institute Inc., Servicenow Inc., Siemens AG, Workday Inc. and Xactly Corporation.
Report Coverage:
Report Features
Details
Base Year of the Analysis
2023
Historical Period
2018-2023
Forecast Period
2024-2032
Units
US$ Billion
Segment Coverage
Component, Deployment Mode, Organization Size, Application, Industry Vertical, Region
Region Covered
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered
International Business Machines Corporation, Microsoft Corporation, Optymyze, Oracle Corporation, Prophix Software Inc., SAP SE, SAS Institute Inc., Servicenow Inc., Siemens AG, Workday Inc. and Xactly Corporation
Customization Scope
10% Free Customization
Report Price and Purchase Option
Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support
10-12 Weeks
Delivery Format
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
Key Questions Answered in This Report
The global performance analytics market was valued at US$ 3.6 Billion in 2023.
We expect the global performance analytics market to exhibit a CAGR of 16.3% during 2024-2032.
The rising utilization of performance analytics, as it aids in understanding consumer needs and behavior, improving business performance, and gaining a competitive advantage, is primarily driving the global performance analytics market.
The sudden outbreak of the COVID-19 pandemic has led to the increasing deployment of performance analytics by numerous education institutions, owing to the escalating adoption of e-learning methods, during the lockdown scenario.
Based on the component, the global performance analytics market can be segmented into solution and service. Currently, solution holds the majority of the total market share.
Based on the deployment mode, the global performance analytics market has been divided into on-premises and cloud-based, where cloud-based currently exhibits a clear dominance in the market.
Based on the organization size, the global performance analytics market can be categorized into large enterprises and small and medium enterprises. Currently, small and medium enterprises account for the majority of the global market share.
Based on the application, the global performance analytics market has been segregated into financial performance, sales and marketing performance, IT operations performance, supply chain performance, employee performance, and others. Among these, financial performance currently holds the largest market share.
Based on the industry vertical, the global performance analytics market can be bifurcated into BFSI, IT and telecom, retail, government and defense, healthcare, manufacturing, and others. Currently, BFSI exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global performance analytics market include International Business Machines Corporation, Microsoft Corporation, Optymyze, Oracle Corporation, Prophix Software Inc., SAP SE, SAS Institute Inc., Servicenow Inc., Siemens AG, Workday Inc., and Xactly Corporation.
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