The global dark analytics market stands at US$ 491.9 Mn as of now and is expected to reach US$ 3.36 Bn by the year 2032 at a stellar CAGR of 21.2% between 2022 and 2032.
Dark analytics solutions do help the organizations in managing campaigns, making quick decisions, analyzing markets, and deriving customer insights. The SMEs actually get empowered as they are able to look through the existing as well as future risks. With cloud-based analytics solutions doing the rounds, dark analytics solutions are being implemented at a large scale these days and the scenario is expected to be the same even going forward.
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It is a known fact that source of data in the present scenario is of varied interests, and comes from internet, personal devices, social media, and likewise. This data could be in an unstructured or un-analyzed form. This is where dark analytics would help a great deal. As per IBM, dark data accounted for 93% of the entire data generated in the year 2020. Future Market Insights has walked through these nitty-gritties with insights in its latest market study entitled ‘Dark Analytics Market’.
Key Takeaways from Dark Analytics Market
- North America holds more than 30% of the market share due to analytics being increasingly adopted in enterprises. Governments, along with big enterprises, adopt dark analytics for improvising on decision-making processes. On these grounds, SAP, in August 2022, made an announcement that RISE with SAP solution did continue at a large scale all across North America.
- Europe holds more than 18% of the overall market share. This could be credited to business processes increasingly adopting data-driven strategies. Also, the government of Germany, in the year 2021, invested 239 Mn Euros to build data labs in every Chancellery and ministry, thereby adding a new-fangled capacity all across federal government.
- The Asia-Pacific is expected to grow at the fastest rate in the dark analytics market. This could be credited to growing numbers of security breaches all over. Along these lines, Tokio Marine Group, in July 2021, got victimised by ransomware attacks at its unit based out of Singapore.
“With an increasing demand for converting dark data into intelligent and insightful data to enable decision-making, the global dark analytics market is bound to witness grandeur in the upcoming period”, says an analyst from Future Market Insights.
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Competitive Landscape
- IBM, in July 2022, announced that it would be acquiring Databand.ai (one of the leading providers of data observability software helping organizations in fixing problems with data inclusive of pipeline failures, errors, and poor quality – all before affecting the bottom line). This step would strengthen the former’s software portfolio all across automation, AI, and data for addressing entire range of observability and helping businesses to ensure that only the data that is trustworthy falls in the right hands.
- Apple, in June 2020, completed acquisition of Lattice Data. The latter makes use of AI-enabled interface for discovering and generating structured data.
- Google completed acquisition of Halli Labs in February 2021. The latter was a start-up working on ML and AI options.
- Microsoft, in June 2022, announced plans for acquiring Miburo (a cyber-threat analysis and research firm).
- IBM, in September 2018, tabled Cognos Analytics, which is known as an AI-driven multi-tenancy solution designed for integrating features like NLP, ML, and advanced analytics, that too, with automatic pattern detection.
- Microsoft, in June 2018, extended its partnership (that was 6 years old back then) with Hortonworks, so as to expand the presence of Apache Hadoop and the open source big data analytics to Cloud.
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What does the Report Cover?
- Future Market Insights offers an exclusive perspective and various real-time insights on the dark analytics market in its latest study, presenting historical demand assessment of 2016 – 2021 and projections for 2022 – 2032.
- The research study is based on analytics type (predictive dark analytics, prescriptive dark analytics, diagnostic dark analytics, and descriptive dark analytics), by dark data type (business dark analytics, customer dark analytics, and operational dark analytics), and by end-user (dark analytics for BFSI, dark analytics for government, dark analytics for retail and e-Commerce, dark analytics for travel and hospitality, and dark analytics for the other end-users).
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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