Embedded analytics enables business users to access business data and perform queries to generate insights using this data within an application. It equips business users with easy-to-use data exploration, data preparation, appropriate analytics, and data visualization tools and techniques. It helps companies cut down on inevitable losses, gain real-time operational insights, and grab new opportunities. The global embedded analytics market is expected to grow from USD 26.77Billion in 2017 to USD 51.78 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 14.1%.
The embedded analytics market includes an expansive number of vendors providing software and services, such as Microsoft Corporation (US), IBM (US), SAP SE (Germany), SAS Institute (US), Oracle Corporation (US), MicroStrategy Incorporated (US), Tableau Software (US), TIBCO Software (US), Birst (US), Logi Analytics (US), QlikTech International (US), Sisense (US), Information Builders (US), OpenText (Canada), and Yellowfin International (Australia). The players in this business sector have embraced different strategies to extend their worldwide presence and market shares. Partnerships, collaborations, agreements, new product launches, product developments, mergers and acquisitions, joint ventures, and expansions are said to be the significant strategies embraced by the market players in the embedded analytics market.
Microsoft Corporation is one of the eminent leaders in the embedded analytics market. The organization primarily serves the regions of North America, Asia Pacific (APAC), Latin America, Middle East and Africa (MEA), and Europe. Microsoft’s long-term strategy leans more toward the organic growth strategy, where it looks forward to bringing out new advanced products and services in the market. In May 2017, Microsoft introduced Power Business Intelligence (BI) Premium, which builds on the existing Power BI portfolio, with a capacity-based licensing model that increases the flexibility in terms of accessing, sharing, and distributing the content. As a part of the new offering, Power BI Embedded is converged with the Power BI service, to deliver one API surface, a consistent set of capabilities and provides access to the latest features.
The fundamental objective of IBM is to meet every industry’s client requirement and in addition, provide new advancements to BI with embedded analytics tools. The organization serves clients across different industries, such as communications; Banking, Financial Services, and Insurance (BFSI); energy and utilities; hospitality; healthcare; retail; travel and transportation; metals and mining; government sector; media and entertainment; and education. IBM is headquartered in the US and has its presence across 175 countries, worldwide. IBM is considered as one of the strongest suppliers of embedded analytics tools. The organization follows both organic as well as inorganic strategies to deal with the expansion of its market share. In June 2017, IBM launched the first suite of cognitive solutions to help financial institution professionals manage their regulatory and fiduciary responsibilities. Its Watson-powered software can be deployed on the IBM Cloud and was designed to help financial professionals in 3 areas: understanding the regulatory requirements, delivering increased insights into potential financial crimes, and managing financial risks with a new architectural approach for data.
Embedded Analytics Market by Component (Software and Services), Business Function (IT, Marketing and Sales, Finance, Production, and HR), Deployment Model (On-Premises and On-Demand), Organization Size, Industry, and Region - Global Forecast to 2022
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