Advanced Analytics Market, By Type (Big Data Analytics, Customer Analytics), By Deployment (On-premises, Cloud), By Organization Size (Large Enterprises, SMEs), By Component (Solution, Services), By End-Use (Healthcare and Life Sciences, Retail and Consumer Goods), and By Region Forecast to 2032

Advanced Analytics Market Overview and Key Insights:

The global advanced analytics market reached USD 68.26 billion in 2024 and is expected to register a revenue CAGR of 24.2% during the forecast period. Growing need for data-driven decision-making, increasing adoption of big data and other technologies, emergence of Machine Learning (MI) and Artificial Intelligence (AI), increasing demand for predictive analytics, and rising demand for cloud-based analytics are expected to drive revenue growth of the market.  

Market Drivers:

The growing need for data-driven decision-making is creating a high demand for advanced analytics. In recent years, organizations have witnessed the emergence of an economy that relies heavily on data. The global volume of data generated, captured, copied, and consumed in 2024 is approximately 149 zettabytes. This number is expected to increase to 181 zettabytes by the end of 2025. This highlights the rapid growth in data in recent years. It is being driven by factors such as the proliferation of connected devices, social media, and the increasing digitization of business processes. This shift has been fueled by the digital revolution, the rise of connectivity, and the rapid dissemination of information. As a result, there is a growing awareness of the significance of data and its analysis using advanced statistical models and machine learning techniques.  

The high demand for advanced analytics is prompting manufacturers to introduce advanced solutions in the market. In May 2025, Navan, a comprehensive global platform for travel and expense management, introduced new advanced analytics feature for its customers. This enhancement provides travel and finance teams with deeper insights, enabling them to make more informed decisions regarding travel expenditures. With the advanced analytics tool, users can now effortlessly analyze detailed spending data and identify potential cost-saving opportunities more efficiently. The integration of advanced analytics into business platforms is transforming analytics from a specialized tool to a mainstream operational asset, which drives revenue growth of the market.

Market Opportunity:

Rising demand for cloud-based analytics is creating significant opportunities for the advanced analytics market. Cloud platforms eliminate the need for heavy upfront infrastructure investment. It helps organizations of all sizes, especially SMEs to adopt advanced analytics solutions with ease. These platforms support real-time data processing, remote access, and seamless integration with AI, machine learning, and big data technologies. Cloud-based analytics increases analytical capabilities across industries.

In December 2023, Fair Isaac, a U.S.-based data and analytics firm, has introduced its cloud-based FICO platform in India. According to the company, this deployment will help Indian businesses gain critical insights, enhance operational efficiency, and achieve meaningful commercial results. This type of initiatives increases the overall adoption rate of analytics solutions and drives revenue growth of the market.

Recent Trends:

One recent trend in the advanced analytics market is the rise of augmented analytics. Augmented analytics adopts Artificial Intelligence (AI), Machine Learning (ML) to automate data preparation, insight generation, and explanation. This approach democratizes data analysis, allowing users without technical expertise to interact with data, generate insights, and make informed decisions. The market for augmented analytics is experiencing rapid growth. Industries such as retail, healthcare, and finance are increasingly adopting augmented analytics to enhance customer experiences, optimize operations, and mitigate risks.

In January 2023, Seerist Inc., a top provider of augmented analytics solutions for threat and security professionals, has announced the rollout of new features aimed at enhancing the platform’s overall value. The company is also nearing completion of its integration of human analysis content, which was previously exclusive to its CORE solution. These enhancements will help users to gain deeper contextual intelligence, filter out irrelevant data, and tailor the platform more effectively to focus on key operational priorities within their organizations. This type of initiative sets a new benchmark for analytics platforms and drives revenue growth of the market.

Restraints & Challenges:

However, one of the major concerns related to advanced analytics is the issue of data security and privacy. The risk of cyber-attacks and data breaches increases as more data is collected and analyzed by companies. This has led to a growing demand for more secure data storage and analytics solutions. Moreover, with the implementation of data protection laws such as the GDPR and the CCPA, companies are required to ensure that they have appropriate measures in place to protect the privacy of data of their customers. Failure to comply with these regulations can result in hefty fines and reputational damage. These concerns around data security and privacy have led to a lack of trust among consumers, which is a significant barrier to revenue growth in the advanced analytics market.

Component Segment Insights and Analysis:

Based on the component, the advanced analytics market is segmented into solutions and services. Solution segment is further sub-segmented into customer analytics, business analytics, statistical analysis, risk analytics, and others. Services segment is further sub-segmented into managed services and professional services.

Solution segment accounted for largest revenue share in the advanced analytics market in 2024 due to the increasing demand for data-driven decision-making across industries. Businesses are actively seeking ways to gain a competitive edge in the market, and advanced analytics provide valuable insights that help identify growth opportunities. Advanced analytics solutions are becoming more crucial to make informed decisions based on data rather than intuition. Furthermore, with the increasing adoption of cloud computing and the rise of Internet of Things (IoT) devices, there is a need for advanced analytics solutions to help manage and analyze the vast amounts of data generated from these sources. The availability of affordable and user-friendly advanced analytics solutions makes them accessible to businesses of all sizes, driving the revenue growth of this segment.

Type Segment Insights and Analysis:

Based on type, the advanced analytics market is segmented into big data analytics, real-time analytics, cognitive analytics, augmented analytics, sentiment analysis, cohort analysis and others. Big data analytics segment is further sub-segmented into descriptive analytics, diagnostic analytics, predictive analytics, and prescriptive analytics.

Big data analytics segment accounted for largest revenue share in the advanced analytics market in 2024 due to the rapid increase in the volume of data being generated across various industries. This has created an opportunity for organizations to gain insights into customer behavior, market trends, and business operations, among other things. In addition, the growing need for businesses to make data-driven decisions to remain competitive in the marketplace is supporting revenue growth of this segment. Big data analytics helps companies to extract valuable insights from their data and make informed decisions based on those insights.   

In October 2023, Fujitsu Limited and TOPPAN Holdings Inc. entered a business alliance to jointly advance the medical big data sector. The collaboration aims to support research and development initiatives by leveraging medical big data in line with Japan’s Next Generation Medical Infrastructure Act. Fujitsu will create SaaS-based analytics services tailored for pharmaceutical companies and medical institutions, utilizing anonymized electronic medical record data. The initiative contributes to increased market demand, higher subscription-based revenues, and stronger penetration of big data solutions, which boosts revenue growth of this segment

End-Use Segment Insights and Analysis:

Based on end-use, the advanced analytics market is segmented into Banking, Financial Services, and Insurance (BFSI), healthcare and life sciences, retail and consumer goods, IT and telecommunications, manufacturing, government and public sector, transportation and logistics, energy and utilities, and others.

Banking, Financial Services, and Insurance (BFSI) segment accounted for largest revenue share in the advanced analytics market in 2024 due to the rising adoption of advanced analytics for detecting fraudulent transactions, improving processes, and managing data risks. In the banking and financial services sector, customer relationships are fundamentally built on trust, loyalty, and personalized service. However, as services and products become more complex, there is a growing need for decision-making tools that provide more informed judgments and generate better business outcomes. The BFSI industry needs to leverage its data to analyze and make informed decisions. By analyzing data, businesses can identify ways to optimize revenue while enhancing customer service and strengthening business connections.

In April 2025, FICO, a global leader in advanced analytics software, launched its cloud-based platform in India. Leading Indian banks like HDFC Bank, Axis Bank, and AU Small Finance Bank are among the early adopters of this innovative technology. This growing adoption of advanced analytics solutions among financial institutions reflects a broader digital transformation trend in the sector and drives revenue growth of this segment.

Geographical Outlook:

Advanced analytics market is strategically segmented by geography to provide a comprehensive understanding of regional market dynamic. Discover demand analysis, emerging trends, and growth opportunities shaping market performance across different regions and countries.

North America Advanced Analytics Market:

North America accounted for largest revenue share in the global advanced analytics market in 2024 due to the availability of a supportive infrastructure to implement advanced analytics, increasing demand for cloud-based analytics in countries, especially in U.S. and Canada. The United States was the largest market for public cloud services, with spending surpassing USD 432 billion in 2024. With the growth of cloud computing and the rising adoption of advanced technologies, the demand for cloud-based analytics is expected to increase in North America. This surge in cloud investment provided the necessary infrastructure for widespread adoption of advanced analytics solutions and drives revenue growth of the market in this region.

In addition, increasing adoption of big data is also supporting revenue growth of the market in this region. In May 2023, SkyWatch received an investment from the Canadian government to develop sophisticated self-governing space systems using artificial intelligence and big data analytics. The aim of the challenge on advanced autonomous space systems is to enhance the utilization and functioning of space and Earth observation resources through the application of AI and big data analytics.

Asia Pacific Advanced Analytics Market:

Asia Pacific is expected to register a fast revenue growth rate during the forecast period due to the rapid digital transformation across key industries such as banking, healthcare, manufacturing, and retail. Governments and enterprises, especially in China, Japan, and India, are increasingly investing in data-driven technologies to improve operational efficiency, enhance customer experience, and support real-time decision-making. The proliferation of smartphones, IoT devices, and cloud computing has led to an exponential rise in data generation. It creates a strong demand for advanced analytics solutions in the region.

Chinese technology giants Tencent and Alibaba challenged the country’s traditional banking sector by launching their popular digital payment platforms, WeChat Pay and Alipay. Leveraging the vast volumes of user data they have accumulated over time, these companies are able to offer personalized financial services that align closely with the individual behaviors and preferences of their users. This widespread application of data analytics in digital finance stimulates broader adoption of advanced analytics solutions across the financial ecosystem and drives revenue growth of the market in the region.

Europe Advanced Analytics Market:

Market in Europe is expected to register a steady revenue growth rate during the forecast period due to the growing adoption of data analytics in different industry verticals such as BFSI, healthcare, and manufacturing, especially in U.K., Germany, and France. The rising demand for cloud-based analytics solutions and the growing adoption of big data analytics and AI technologies are further supporting the revenue growth of the market in this region. The involvement of significant market players in the region and government initiatives that aim to encourage the adoption of advanced analytics solutions are also contributing to the revenue growth of the market in Europe.

In May 2025, Expandi Limited, one of Europe’s leading B2B MarTech and AdTech providers and a global industry leader, formed a strategic alliance with Kompass, a renowned global player in B2B SalesTech and MarTech solutions. This innovative partnership is set to transform the way businesses engage, market, and expand by combining advanced technologies with exceptional data capabilities. This is accelerating the adoption of advanced analytics tools among enterprises seeking to optimize customer targeting, streamline operations, and improve ROI. broadening the base and driving revenue growth of the market in this region.

Competition Analysis:

The advanced analytics market is characterized by a fragmented structure, with numerous players competing across various segments and regions. List of major players included in the Advanced Analytics market report are:

• Oracle Corporation
• SAP SE
• IBM Corporation
• Microsoft Corporation
• Altair Engineering Inc.
• FICO
• Teradata
• Alteryx Inc
• QlikTech International AB
• SAS Institute Inc.
• Amazon Web Services (AWS)
• TIBCO Software Inc.
• Google LLC (Alphabet Inc.)
• Cloudera, Inc.
• Databricks, Inc  

Strategic Developments in Advanced Analytics Market:

• On 11 March 2025. WNS (Holdings) Limited, a company specializing in digital-led business transformation and services, has announced the acquisition of Kipi.ai, a leading provider of data modernization and democratization services centered around the Snowflake platform. Kipi.ai offers end-to-end capabilities including strategic consulting, implementation, and managed services across data engineering, advanced analytics, and data science. The company primarily serves U.S.-based clients and brings deep domain expertise across sectors such as banking and financial services, insurance, manufacturing and retail, high tech and professional services, as well as healthcare and life sciences.
• On 18 October 2022, Oracle unveiled a range of new product innovations for its data and analytics solutions. The new features in Oracle Fusion Analytics across various analytics domains, including CX, ERP, HCM, and SCM, offer over 2,000 prebuilt KPIs, reports, and dashboards to help decision-makers monitor their performance against strategic goals. Additionally, Oracle Analytics Cloud (OAC) has introduced new features that enable business users to be more self-sufficient by reducing their reliance on IT. This is achieved through curated data assets created by IT, such as the centralized semantic model.

Key Advantages for Stakeholders:

Navistrat Analytics’ industry report provides an in-depth quantitative analysis of various market segments, historical and current trends, market forecasts, and dynamics within the global market. The historical years covered in this report are 2022 to 2023, with 2024 serving as the base year for market size calculations. The forecast period extends from 2025 to 2032.

The report includes an executive summary and a comprehensive overview of market drivers, restraints, opportunities, and challenges (DROC), along with insights into regulatory standards. It features detailed analyses such as PORTER’s Five Forces, SWOT, and PESTLE, as well as assessments of technological trends and the competitive landscape.

PORTER’s Five Forces analysis helps stakeholders evaluate the impact of new entrants, competitive rivalry, supplier power, buyer power, and substitution threats, enabling them to assess the level of competition and the attractiveness of the global market. The competitive landscape provides stakeholders with a clear understanding of the current market positions of key players, offering valuable insights into their competitive environment.

Scope And Key Highlights of The Advanced Analytics Market Report:

The Advanced Analytics market report offers a detailed analysis of market size, including historical revenue (in USD Billion) data for 2022-2023 and revenue forecasts for 2025-2032 across the following segments:

• Component (Revenue, USD Billion; 2022-2032)

• • Solutions
    • Customer Analytics
    • Business Analytics
    • Statistical Analysis
    • Risk Analytics
    • Others
  • Services
    • Managed Services
    • Professional Services

• Types Outlook (Revenue, USD Billion; 2022-2032)

• • Big Data Analytics
    • Descriptive Analytics
    • Diagnostic Analytics
    • Predictive Analytics
    • Prescriptive Analytics
  • Real-Time Analytics
  • Cognitive Analytics
  • Augmented Analytics
  • Sentiment Analysis
  • Cohort Analysis
  • Others

• Deployment Outlook (Revenue, USD Billion; 2022-2032)

• • On-Premises
  • Cloud
    • Public Cloud
    • Private Cloud
    • Hybrid Cloud

• Organization Size Outlook (Revenue, USD Billion; 2022-2032)

• • Large Enterprises
  • Small & Medium Sized Enterprises (SMEs)

• End-Use Outlook (Revenue, USD Billion; 2022-2032)
  • Banking, Financial Services, and Insurance (BFSI)
  • Healthcare and Life Sciences
  • Retail and Consumer Goods
  • IT and Telecommunications
  • Manufacturing
  • Government and Public Sector
  • Transportation and Logistics
  • Energy and Utilities

• Regional Outlook (Revenue, USD Billion; 2022-2032)
  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Benelux
    • Nordic Countries
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Oceania
    • ASEAN Countries
    • Rest of APAC
  • Latin America
    • Brazil
    • Rest of LATAM
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Israel
    • Turkey
    • Rest of MEA

Frequently Asked Questions (FAQ) about the Advanced Analytics Market Report