The dark analytics market is projected to grow from USD 278.3 million in 2018 to USD 867.7 million by 2023, at a CAGR of 25.5% from 2018 to 2023. Some of the major factors driving the dark analytics market include rapid increase in data generated by organizations, the adoption of AI and ML technologies for dark data analysis, and an increase in deployment of dark analytics solutions.
Companies such as include IBM (US), SAP (Germany), Amazon Web Services (US), Micro Focus (UK), and Dell EMC (US) offer dark analytics solutions and services for different industries. These players have adopted various growth strategies such as collaborations, partnerships, acquisitions, and new product launches and product enhancements to strengthen their position in the dark analytics market. Partnerships, collaborations, and agreements account for more than half of the share of the total growth strategies adopted by these leading players in the dark analytics market from November 2015 to June 2018.
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IBM (US) offers solutions such as InfoSphere Warehouse, IBM Watson Explorer Deep Analytics Edition (WEXDAE), Cognos Analytics, and Watson Analytics. The company also offers services such as, consulting and managed services. IBM focuses on inorganic strategies such as partnerships and collaborations to strengthen its position in the dark analytics market. For instance, in June 2018, IBM joined hands with Intellect Design Arena, a global leader in financial technology for the BFSI vertical, to deliver comprehensive digital solutions for the banking sector.
SAP (Germany) focuses both on organic and inorganic strategies such as partnerships, collaborations, and new product launches to grow in the dark analytics market. For instance, in June 2018, SAP SE launched SAP C/4HANA, to help businesses serve and retain customers. It also introduced SAP HANA Data Management Suite that enables enterprises to turn huge amounts of data, both structured and unstructured, into valuable data. In May 2017, SAP Ariba, a business division of SAP SE, partnered with IBM to deliver cognitive procurement solutions. The alliance of IBM Watson technologies and SAP Ariba solutions will help provide insights from unstructured information. This unstructured information enables decision-making across supplier management, contract, and sourcing activities.
Dark Analytics Market by Component (Solutions, Services), Deployment Mode (Cloud, On-premises), Business Application (Marketing, Operations, Finance, Human Resources), Vertical (BFSI, Healthcare), and Region - Global Forecast to 2023
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