UK Data Analytics Market

UK Data Analytics Market Overview:

The UK data analytics market size reached USD 3.11 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 18.11 Billion by 2032, exhibiting a growth rate (CAGR) of 20.70% during 2024-2032. The market is propelled by increasing internet penetration, rising demand for wearable devices, inflating disposable incomes of consumers, and growing penetration of 5G technology in the country.

UK Data Analytics Market Trends:

Growing Adoption of Cloud Technologies

The UK data analytics market has been rapidly expanding due to the increased adoption of big data and cloud-based technologies. Organizations are increasingly collecting large volumes of structured as well as unstructured data from different sources, and the real-time analysis of this data is very crucial in making appropriate decisions. Scalable storage and processing capability by cloud computing makes it easy for businesses to tackle large-scale data analytics without big upfront investment in infrastructure. The need for advanced data analytics solutions is expected to increase in the UK as businesses continue pushing themselves toward digital transformation, fueling expansion.

Regulatory Requirements

The UK's strict regulatory environment, particularly concerning data protection and privacy laws like the General Data Protection Regulation (GDPR), is fueling the growth of the data analytics market. The Data Protection Act 2018 controls how personal information is used by organizations, businesses or the government. Organizations are required to comply with these regulations by implementing effective data governance strategies. Data analytics tools that offer transparency, traceability, and enhanced security measures are in high demand as businesses seek to ensure compliance while maximizing the value of their data. The need to navigate complex regulatory frameworks and protect sensitive customer information is pushing companies to invest in sophisticated data analytics solutions that support robust governance practices.

Increasing Use of AI and ML Technologies   

The increasing use of artificial intelligence (AI) and machine learning (ML) in various industries is a significant driver of the UK data analytics market. For instance, Forbes Magazine published that the UK AI market is worth more than £16.8 billion, according to the US International Trade Administration, and is expected to grow to £801.6 billion by 2035. These technologies enable businesses to automate data analysis processes, identify patterns, and make predictions with high accuracy. Sectors such as healthcare, finance, and manufacturing are adopting AI-driven analytics to improve efficiency, reduce operational costs, and enhance product and service offerings. The integration of AI and ML into analytics platforms is also opening up new opportunities for predictive and prescriptive analytics, allowing companies to make proactive decisions. This trend is expected to continue driving market growth in the coming years.

UK Data Analytics Market News:

• In June 2024, Finbourne, a business based in London's financial center, has created a platform to assist financial institutions manage and use more of their data in AI and other models. It is announcing £55 million ($70 million) in funding, which will be used to expand its reach beyond the square mile.
• In March 2023, -Energy Aspects (EA) and Vortexa launched a new strategic relationship that combines industry-leading energy commodity data and intelligence with best-in-class cargo monitoring analytics to give energy markets a better knowledge of short-term market trends. EA will employ Vortexa's cargo monitoring analytics to enhance its research and analysis of global crude, refined products, and LNG markets. The cooperation aims to provide clarity in energy markets amid a period of instability and transformation.

UK Data Analytics Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on type, solution, deployment, and application.

Type Insights:

• Prescriptive Analytics
• Predictive Analytics
• Customer Analytics
• Descriptive Analytics
• Others
   

The report has provided a detailed breakup and analysis of the market based on the type. This includes prescriptive analytics, predictive analytics, customer analytics, descriptive analytics, and others.

Solution Insights:

• Security Intelligence
• Data Management
• Data Monitoring
• Data Mining
   

A detailed breakup and analysis of the market based on the solution have also been provided in the report. This includes security intelligence, data management, data monitoring, and data mining.

Deployment Insights:

• Cloud
• On-premises
   

The report has provided a detailed breakup and analysis of the market based on the deployment. This includes cloud and on-premises.

Application Insights:

• Supply Chain Management
• Enterprise Resource Planning
• Database Management
• Human Resource Management
• Others
   

A detailed breakup and analysis of the market based on the application have also been provided in the report. This includes supply chain management, enterprise resource planning, database management, human resource management, and others.

Regional Insights:

• London
• South East
• North West
• East of England
• South West
• Scotland
• West Midlands
• Yorkshire and The Humber
• East Midlands
• Others
   

The report has also provided a comprehensive analysis of all the major regional markets, which include London, South East, North West, East of England, South West, Scotland, West Midlands, Yorkshire and The Humber, East Midlands, and Others.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

UK Data Analytics Market Report Coverage:

Key Questions Answered in This Report:

• How has the UK data analytics market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the UK data analytics market?
• What is the breakup of the UK data analytics market on the basis of type?
• What is the breakup of the UK data analytics market on the basis of solution?
• What is the breakup of the UK data analytics market on the basis of deployment?
• What is the breakup of the UK data analytics market on the basis of application?
• What are the various stages in the value chain of the UK data analytics market? 
• What are the key driving factors and challenges in the UK data analytics?
• What is the structure of the UK data analytics market and who are the key players?
• What is the degree of competition in the UK data analytics market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the UK data analytics market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the UK data analytics market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the UK data analytics industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.