Global Performance Analytics Market: North America Powers Growth, finds TMR Research

San Francisco, California, October 10, 2018: A recent report by TMR Research, titled, “Performance Analytics Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017–2025,” finds that competition is stiff in the market because of the presence of numerous players trying to outshine one another. They are seen providing tailor-made software and services in their constant quest to improve their customer base.
The global performance analytics market is predicted to rise impressively in the next couple of years because of the industries being upgraded almost everywhere. This is because performance analytics combines technology and data to gauge performance against the pre-set parameters. The results are then compared against desired or ideal ones. Sectors such as banking and finance, manufacturing, healthcare, supply chain management, and operations are seen adopting performance analytics at a swift pace.

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Further, rise of newer vendor offerings such as cloud based performance analytics solutions is also benefitting the market. With cloud-based software, vendors can track performance and offer analytics on the run-time.

From a geographical standpoint, North America currently holds a prominent position in the global performance analytics market. This is because of the large-scale investments in cloud solutions in the region, particularly in Canada and the U.S. Another reason why the North America market accounts for a leading share is because of the early uptake of latest technologies in the region.

In the near term, Asia Pacific is predicted to emerge as a lucrative region in the global performance analytics market because the rising tertiary sector. With banking, finance, and insurance sector, healthcare sector, and manufacturing sector flourishing in the region, especially in China, India, Thailand, Singapore, Malaysia, and Japan, the demand for performance analytics is set to rise.

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Key players in the global performance analytics market that have been profiled in the report are Siemens Inc., Servicenow, Inc., International Business Machines Corporation, SAP SE, Adaptive Insights, and Oracle Corporation.

Performance Analytics Market Huge Growth Opportunities for Players by 2025

Global Performance Analytics Market: Overview

Performance analytics utilizes technology and data to study the performance of an identity and measure periodic improvements based on desired results. The software and services offered by performance analytics can be used for various applications including the fields of banking and finance, administration of a supply chain, operations at an organization, and sales and marketing among others. For instance, performance analytics software and services helps local government leaders to monitor their policies and initiatives pertaining to the benefits reaching to their community and residents. With rapid urbanization and the growing need for accurate analysis, the demand in the global performance analytics market is expected to expand at a rapid rate during the forecast period of 2017 to 2025. 

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Global Performance Analytics Market: Key Trends

Factors such as the growing need to generate insights from constantly increasing volume of the data, technological advancements in computing power, and increasing prevalence of metrics driven business performance assessment are expected to extend the demand in the global performance analytics market in the near future. However, the lack of awareness regarding the benefits offered by performance analytics software and services and concerns of positive return of investment (ROI) among the prospect end-users is hindering the market from attaining its true potential. Lack of skilled analytics workforce and data security are other two factors challenging the growth rate of the global performance analytics market.

The segment of services can be bifurcated into managed services and professional services including support and maintenance and consulting services. Out of these, the demand for managed services is surging quickly owing to its extending application in almost every technological domain in a client environment. With these services, organizations can sustain their market via service consistency, technical expertise, and flexibility. The demand for predictive performance analytics is surging too, as it aids the business organizations in anticipating the future business scenarios with in-depth analytics of past and present performance data. With predictive model, the users to are able to understand the probable risks and prepare for the eventualities at all levels. 

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Global Performance Analytics Market: Market Potential

The emergence of advanced vendor offerings including cloud-based performance analytics solutions is expected to prove a boon for the market in the near future. With cloud-based software, vendors are now able to track the performance and offer their analytics on the run-time and hence are opening new market opportunities. 

Global Performance Analytics Market: Regional Outlook

North America currently serves the maximum demand for performance analytics, which is a reflection of large investments in cloud-based solutions in various sectors in the countries such as the U.S. and Canada. This region also has a high adoption rate of new technologies, besides being the headquarters of several prominent players in this market. These two factors are expected to maintain North America are the most lucrative region in the market for performance analytics during the forecast period. However, rapid urbanization in a number of emerging economies is expected to turn Asia Pacific into a profitable region in the near future. The demand for cost-effective performance analytics is favoring the growth of the market in this region. Europe is expected to showcase sluggish growth rate. 

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Global Performance Analytics Market: Competitive Landscape

With the presence of a number of players with significant presence in several regions, the competition in the global performance analytics market is quite stiff and customized services and software is the primary strategy adopted by these players to gain ground over their competitors. Some of the leading vendors in the performance analytics market are Servicenow, Inc., Siemens AG, International Business Machines Corporation, Adaptive Insights, Optymyze, Quantros, Inc., SAP SE, Oracle Corporation, Xactly Corporation, Callidus Software Inc., Nice Systems Inc., Tidemark Systems, Inc., Prophix Software, Inc., SAS Institute, Inc., and Tagetik Software Srl.

Need to Monitor Consumer Patterns Augments Demand

San Francisco, California, June 30, 2017: TMR Research states that the global performance analytics market is likely to witness a terrific growth rate in the coming years as uptake of technology has become imperative. The research report, titled “Performance Analytics Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025,” discusses the future of the overall market by assessing the strengths, weaknesses, opportunities, and threats likely to impact its trajectory. The widening scope of applications are estimated to be the key growth driver for the overall market in the foreseeable future.

The report states that the global market will be largely driven by growing awareness amongst end users about the advantages of these software and services. The rapid pace of urbanization has intensified the need to monitor a wide range of changing dynamics such as implementation of policies, health records, and initiatives. All of these factors are expected to bolster the demand for performance analytics software and services. The increasing need to gather meaningful insights due to spike in data volumes, terrific technological advancements, and adoption of assessment methods that based on metrics are also supportive market growth.

The types of services available in the global performance analytics market are professional services and managed services. Of these, analysts expect that the demand for managed services will soar due to its increasing adoption in a wide range of technologically-driven spheres. These services are known to play an instrumental role in making in bringing in consistency, flexibility, and technical expertise in organizations and businesses. The report also states that the demand for predictive performance analytics will also rise as it is known to help businesses garner an in-depth analytics of historical events as well as the present-day scenario. In terms of geography, the North America performance analytics market is expected to exhibit a phenomenal pace of growth as the region has a higher awareness of technology.

Some of the leading players operating in the global performance analytics market are Xactly Corporation, Servicenow, Inc., International Business Machines Corporation, Nice Systems Inc., Siemens AG, Adaptive Insights, SAS Institute, Inc., Optymyze, Quantros, Inc., Oracle Corporation, SAP SE, Callidus Software Inc., Tidemark Systems, Inc., Tagetik Software Srl., and Prophix Software, Inc. The research report provides a thorough analysis of the competitive landscape present in the global market. It also assesses the research and development statuses, financial overview, and business and marketing strategies of these companies for the coming few years. The publication also includes expert comments and recommendations to help the readers gain a valuable insight of the trajectory of the overall market.