The Service Analytics Market is expected to reach USD 1.56 Billion by 2026, according to a new Reports and Data report. Service analytics is the process of processing, retrieving, and analyzing data produced from the performance of a service system to extend, enhance, and personalize a service to design value for both service providers and customers. . High -level analytics includes interrelated technologies, the most popular of which are natural language processing (NLP) and retrieval, artificial intelligence/machine learning, and big data technologies. These technologies and methods, although not commonly deployed in healthcare, are all done at the dynamic level of most vendors. As these technologies evolve, advanced analytics, will enable more accurate predictive and deterministic capabilities.
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The market in the APAC region is expected to witness the highest CAGR of 14.5% during the forecast period. Organizations in the region are developing Data and Analytics tools and platforms to achieve different data sets with more significant volumes and gain deeper insights from the data. The enhanced investment tools and services required for transforming current business methods and producing innovative products/services through deeper insights generated from Analytics tools, will establish a significant growth factor.
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Additional important findings from the report suggest
- The Service Analytics Market is estimated to reach USD 1.56 Billion by 2026, at a CAGR of 13.6% during the forecast period.
- The solution share is worth a larger share of 65.1% of the market in 2018.
- Cloud deployment is expected to grow at a higher rate of 13.9% during the forecast period.
- The IT service analytics function segment is expected to grow at the highest rate of 14.1% during the forecast period.
- Retail and ecommerce applications are expected to grow at the highest rate of 13.8% during the forecast period.
- The North America region accounted for the largest share of 30.3% of the market in 2018. The market in the region is expected to increase due to the growing use of cloud solutions by companies to promote information management in the expected time frame. Having leading market players in the region helps in the creation and implementation of innovative technologies. The application is motivated by the need to track data patterns, and thus evaluate the success of the business.
- Various players are developing strategies to mark their presence in the industry.
- In October 2018, one of the world’s leading technology organizations, IBM, acquired Raleigh -based Red Hat for USD 34 billion.
- Major players in the Service Analytics Market include SAP SE, SAS Institute, Agile CRM, Microsoft Corporation, BlueFletch, Aureus Analytics, Centina Systems, ClickSoftware Technologies, Microstrategy Incorporated, Numerify, Inc., Mobi, Oracle, Salesforce.com, Inc. . , Sisense, Servicenow, Inc., and Tableau Software.
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For the purpose of this study, Reports and Data segmented the market based on Deployment, Component, Function, Application, and region:
Deployment Outlook (Revenue, USD Million; 2016-2026)
Share Outlook (Revenue, USD Million; 2016-2026)
Outlook Function (Revenue, USD Million; 2016-2026)
- Customer Service Analytics
- IT Service Analytics
- Field Service Analytics
Application Outlook (Revenue, USD Million; 2016-2026)
- BFSI
- Retail and eCommerce
- Energy and Utilities
- Government
- The others
Regional Outlook (Revenue, USD Million; 2016-2026)
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
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