The global performance analytics is expected to reach approximately USD 4 billion by the end of 2022 with 20% CAGR during forecast period 2016-2022.
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Key Players
The prominent players in the global performance analytics market are Siemens AG (Germany), Adaptive Insights (US), Xactly Corporation (US), Oracle Corporation (US), SAP SE (Germany), SAS Institute Inc. (US), Optymyze (US), Callidus Software, Inc. (US), IBM Corporation (US), Service Now, Inc. (US), among others, are profiled in Market Research Future analysis and are at the forefront of competition in the performance analytics market.
Performance Analytics Global Market – Overview
Performance analytics is used to track, monitor, aggregate and visualize the core business activities, and overall key performance indicators of the organisation which helps companies to improve their services. It also helps to gain insights from the data to improve overall performance of the organisation. Performance analytics market emerges through the growing need of monitoring and measuring the performance of business and increasing focus on optimal utilization of resources.
Highly Competitive environment in Performance Analytics Market, drives the need to promote and manage the sales and marketing activities, to increase overall performance and brand awareness. Integration of various business applications is another driver for the performance analytics market. Due technological advancement in information technology led to the adoption of cloud base performance analytics model which is responsible for the growth of the market.
Performance analytics is mainly used in banking, financial services & insurance, healthcare, IT & telecommunication, government, energy and utilities and others. However, banking, financial services and insurance are early adopters and contribute the largest market share of performance analytics as they need to gain a complete view of key parameters that drives profitability so that they can manage risk, track and monitor sales, operational performance, analyse results, dynamically adjust plans to achieve profitable growth. Further, security and data privacy, lack of skilled analytical workforce acts as a restraint for the growth of the market.
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Industry News
July 17. Service Now released new platform Jakarta.
Service Now released a new platform named Jakarta, named after Indonesia’s capital. Jakarta came up with several changes in the platform that will help organizations automate and for their effective business processes. Service Now Jakarta came with the updates like, change in the platform interface, updated performance analytics, ServiceNow Express, Security operations.
Sep 16, Oracle announces most comprehensive offering for analytics in cloud
Oracle announces various innovations that will provide a complete cloud service suite for the organizations to unlock value from their data. Oracles new cloud service will change the way business generate insights from the data, using advance algorithms, machines and processes to give predictive and accurate outcomes.
May 16, Tata consultancy services (TCS) and siemens expands partnership
Tata consultancy services (TCS) an Indian based global IT service, business solution and Siemens a Germany based automation company expands their partnership to deliver performance intelligent product using big data analytics. With the support of TCS’ big data experts to Siemens PLM software, for the effective use of siemens Omneo performance analytics solution. These technologies have potential to revolutionize the manufacturing sector.
Performance Analytics Global Market – Segmentation
Segmentation by Components: Software, Service.
Segmentation by Analytics Type: Predictive, Prescriptive and Descriptive Analytics.
Segmentation by Deployment: On-Premise, Software as a Service (SaaS).
Segmentation by Application: Sales Analytics, Marketing Analytics, Supply chain Analytics, Financial Analytics, Employee Analytics, Employee Analytics, IT analytics.
Segmentation by Vertical: BFSI, IT & Telecommunications, Retail, Healthcare, Government, Transportation, Energy & Utility, Others
Segmentation by Region: North-America, Europe, Asia-Pacific, Rest of the World.
Performance Analytics Global Market – Regional Analysis
The regional analysis of 3D technology market is studied for North America, Europe, Asia Pacific and Rest of the World.
North America contributes to the largest market share and expected to dominate the market of performance analytics due to increase investments and adoption of cloud-based solution, present of large number of key players and early adoption of technological advancements. However, Asia-Pacific is expected to be the fastest growing market in the forecast period due to adoption of technological advancement and implementation of cost effective performance analytics model for small scale and medium scale enterprises.
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