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Manager at Zion Market Research
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Global Dark Analytics Market Predicted to Reach USD 928.58 Million By 2024
According to the report, global dark analytics market was valued at around USD 193.65 million in 2017 and is expected to reach approximately USD 928.58 million in 2024, growing at a CAGR of 25.10% between 2018 and 2024.
Dark analytics is a segment that refers to the analysis of data which is hidden or buried in different forms such as tables, matrices, spreadsheets, drawing, and much more. These hidden data can be recognized by computer vision and pattern recognition which is of great use to the industries, organizations, or markets to identify their shortcomings along with unlocking new opportunities. In case, these valuable data leaks from an organization can lead to severe risk for that organization. This data contains valuable information about the organization which is still not been evaluated but has been generated and stored in some form. Dark analytics can reveal new hidden opportunities coupled with serious industry pain. This is a disruptive technology which has brought digital revolution by unlocking dark secrets. The technology promises the growth of the organization along with the industry. The market void is anticipated to be filled by the involvement of a large number of companies in the coming future.
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Rising trends for artificial intelligence and machine learning coupled with the growing rate of data generation have triggered the market pace. Large involvement of SMEs in the market has shown futuristic opportunity to cater the significant market pace. However, regulatory risk along with open-ended exposure of data is expected to hinder the dark analytics market rate.
Dark analytics market is segmented based on component, deployment, applications, verticals, and regions. The component segment is bifurcated into solutions and services. The services sector is sub-segmented into consulting & system integration, managed services, and training & support. The solution component is predicted to be the most opportunistic segment because of the large involvement of players in the market. By deployment, the dark analytics market is divided into cloud and on-premises. In addition, the on-premise segment is anticipated to grow at the highest CAGR in the forecast period supporting the higher rate of security for dark data. Marketing, finance, operation, and human resource are the application segments for the dark analytics market. Among the application segment, the marketing sector is expected to grow rapidly owing to the fact that valuable information obtained by dark analytics is opening new prospects for growing markets. By verticals, dark analytics market is categorized into retail & e-commerce, BFSI, healthcare, travel & hospitality, government, telecommunication, and others. Healthcare reveals large market application and is predicted to be the lucrative vertical. By geography, North America is leading the dark analytics market due to the presence of major market players in the region.
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Some of the major players in dark analytics market are IBM Corp., SAP SE, Amazon Web Services, Micro Focus, Dell EMC, Microsoft, AvePoint, Teradata, Symantec, Datameer, IRI, SAS Institute, and Commvault. Prominent players in the market believe in strategic collaboration and partnership agreement for expanding their business. Companies are also focusing on portfolio expansion and through new product launch along with tactical merger and acquisition.