The market for dark analytics is anticipated to reach US$ 491.9 million in 2022 and then increase at a CAGR of 21.2% to reach US$ 3,356.7 million by 2032. Development is to blame for the high development of information provided by IoT.
Dark analytics is the study of hidden information found in endeavors. Dark information is a broad term for unprocessed data or information that organizations collect as part of various business operations and store regardless of whether they use it to extract knowledge or for business dynamics.
Associations are becoming aware of the significant risk of losing control of business and administrative matters that results from failing to analyze and handle this information. Dark analytics thus involves ongoing training in initiatives that increase the decomposition of PC network jobs and example recognition.
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The dark analytics solution includes a framework that enables customers to create complete data pipelines for handling data extraction, integration, and machine learning-based prediction. The large-scale resolution of statistical inference issues yields valuable insights from this data. By examining customer behavior insights, dark analytics help to better identify underutilized opportunities, particularly in sales and marketing processes.
Dark Analytics Market: Drivers and Restraints
Extracting insights for decision-making by immediate analysis of real-time information from key business processes such as sales, production, and distribution trends is the major factor driving the growth of the dark analytics market.
Moreover, factors such as gaining insights from and making the most of every data point, efficiency in terms of time, money, and resources in processing unstructured data, and aid to minimize the accumulation of dark data by transforming it into valuable real-time information are also some key factors resulting in the growth of dark analytics market.
However, security concerns and risks associated with data, and data storage costs are some factors restraining the growth of the dark analytics market.
Dark Analytics Market: Segmentation
The dark analytics market can be segmented based on analytics type, dark data type, end-user, and region-wise. Based on analytics type market can be further segmented into predictive, prescriptive, diagnostic, and descriptive. Based on dark data type, it can be categorized into business, customer, and operational dark data.
In the end-user type, the dark analytics market is categorized into BSFI, Government, Retail and E-commerce, Travel and hospitality, and others. Region-wise global dark analytics market can be segmented into North America, Europe, Asia-Pacific, Middle East and Africa and Latin America.
Dark Analytics Market: Regional Overview
North America is the biggest market for dark analytics market followed by Europe to ensure compliance with business processes and legal issues. Asia Pacific region is expected to show significant growth in the dark analytics market due to emerging start-ups and a rise in the adoption of analytics in enterprises. Latin America and Middle East regions are showing considerable growth in this market owing to the adoption of data-driven strategies in business processes.
Dark Analytics Market: Key Players
IBM Corporation, Deloitte, SAP SE, Teradata, Hewlett-Packard, EMC Corporation, VMware, Inc., and Microsoft Corporation, are some of the key players in the dark analytics market.
Market Competition
Some of the key participants present in the global Dark Analytics market include IBM Corporation, Deloitte, SAP SE, Teradata, Hewlett-Packard, EMC Corporation, VMware, Inc., and Microsoft Corporation, among others.
Attributed to the presence of such a high number of participants, the market is highly competitive. While global players such as IBM Corporation, Deloitte, SAP SE, Teradata, and Hewlett-Packard account for a considerable market size, several regional-level players are also operating across key growth regions, particularly in North America.
Recent Developments
- In February 2021, Google acquired Halli Labs, a four-month-old Bengaluru-based start-up that develops artificial intelligence and machine learning options.
- In June 2020, Apple acquired Lattice Data, a company that uses an AI-enabled interface to discover and generate unstructured data into structured data.
Key Segments Covered in the Dark Analytics Industry Analysis
Dark Analytics Market by Analytics Type:
- Predictive Dark Analytics
- Prescriptive Dark Analytics
- Diagnostic Dark Analytics
- Descriptive Dark Analytics
Dark Analytics Market by Dark Data Type:
- Business Dark Analytics
- Customer Dark Analytics
- Operational Dark Analytics
Dark Analytics Market by End User:
- Dark Analytics for BFSI
- Dark Analytics for Government
- Dark Analytics for Retail & E-Commerce
- Dark Analytics for Travel and Hospitality
- Dark Analytics for Other End Users
Dark Analytics Market by Region:
- North America Dark Analytics Market
- Latin America Dark Analytics Market
- Europe Dark Analytics Market
- Asia Pacific Dark Analytics Market
- Middle East & Africa Dark Analytics Market
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