Global Data Mining Tools Market 2018-2023: The Need for Embedded Intelligence to Gain Competitive Advantage

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The data mining tools market is expected to grow from USD 591.2 Million in 2018 to USD 1,039.1 Million by 2023, at a Compound Annual Growth Rate (CAGR) of 11.9% during the forecast period, owing to the significant increase in data volume and increased awareness among enterprises to leverage the benefits of available data assets.

The Banking, Financial Services, and Insurance (BFSI) industry vertical includes commercial banks, insurance companies, non-banking financial companies, stock brokerage firms, and payment gateway providers. BFSI companies deal with critical credit management, collection management, and fraud detection management in their day to day financial operations.

Additionally, the BFSI industry vertical deals with large volumes of customer and transactional data from various sources. BFSI organizations are looking forward to provide customer friendly digital solutions and software platforms, so that they can serve their customers in a better way. The BFSI industry vertical is a major contributor, in terms of revenue, in the data mining tools market.

Data mining tools empower enterprises to extract usable data from a large set of raw data and analyze hidden data patterns to categorize these patterns into useful information. Data mining managed services would be used extensively by enterprises to gain traction in the global data mining tools market.

Managed services enable organizations to focus on their core business competencies while managed service providers mine data for them and provide insights from hidden data patterns. These services further help organizations in focusing on customer-centric aspects and adding value to business operations.

The marketing segment is expected to have the largest market share during the forecast period. The marketing business function enables enterprises to understand the historical transaction patterns of customers, thus helping them plan and manage new marketing campaigns. Furthermore, data mining provides insights into customer-buying patterns and helps organizations in managing the demand and supply match while offering customized offerings to their clients.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Market Opportunities in the Data Mining Tools Market
4.2 Market By Deployment Type
4.3 Market By Component
4.4 Market By Organization Size
4.5 Market Top 3 Industry Verticals and Regions

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Significant Increase in Data Volume
5.2.1.2 Increased Awareness Among Enterprises to Leverage the Available Data Assets
5.2.2 Restraints
5.2.2.1 Government Rules and Regulations
5.2.3 Opportunities
5.2.3.1 Increasing Need to Create Insights From Raw Data
5.2.3.2 Need for Embedded Intelligence to Gain Competitive Advantage
5.2.4 Challenges
5.2.4.1 Data Privacy, Security, and Reliability
5.2.4.2 Advent of Bi and Ai Raising Concerns for Data Mining Vendors

6 Data Mining Tools Market, By Component
6.1 Introduction
6.2 Tools
6.3 Services

7 Market By Service
7.1 Introduction
7.2 Managed Services
7.3 Consulting and Implementation
7.4 Others

8 Market By Business Function
8.1 Introduction
8.2 Marketing
8.3 Finance
8.4 Supply Chain and Logistics
8.5 Operations

9 Data Mining Tools Market, By Industry Vertical
9.1 Introduction
9.2 Retail
9.3 Banking, Financial Services, and Insurance
9.4 Healthcare and Life Sciences
9.5 Telecom and IT
9.6 Government and Defense
9.7 Energy and Utilities
9.8 Manufacturing
9.9 Others

10 Data Mining Tools Market, By Deployment Type
10.1 Introduction
10.2 On-Premises
10.3 Cloud

11 Market By Organization Size
11.1 Introduction
11.2 Large Enterprises
11.3 Small and Medium-Sized Enterprises

12 Data Mining Tools Market, By Region
12.1 Introduction
12.2 North America
12.3 Europe
12.4 Asia Pacific
12.4.4 Rest of Asia Pacific
12.5 Middle East and Africa
12.6 Latin America

13 Competitive Landscape
13.1 Overview
13.2 Market Ranking
13.3 Competitive Scenario
13.3.1 New Product/Service Launches and Product Upgradations
13.3.2 Business Expansions
13.3.3 Acquisitions
13.3.4 Partnerships, Agreements, and Collaborations

14 Company Profiles
14.1 IBM
14.2 SAS Institute
14.3 Oracle
14.4 Microsoft
14.5 Teradata
14.6 MathWorks
14.7 H2O.ai
14.8 Intel
14.9 Alteryx
14.10 SAP
14.11 Rapidminer
14.12 Knime
14.13 FICO
14.14 Salford Systems
14.15 BlueGranite
14.16 Angoss Software
14.17 Megaputer Intelligence
14.18 Biomax Informatics
14.19 Frontline Systems
14.20 Suntec India
14.21 Dataiku
14.22 Wolfram Research
14.23 Reltio
14.24 SenticNet
14.25 Business Insight

For more information about this report visit https://www.researchandmarkets.com/research/kxdsp8/global_data?w=5

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SOURCE Research and Markets

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