Pune, India, Aug. 02, 2023 (GLOBE NEWSWIRE) -- According to Fortune Business Insights, global data mining tools market size was valued at USD 900.7 million in 2022 and is projected to grow from USD 1,005.9 million in 2023 to USD 2,400 million by 2030, exhibiting a CAGR of 13.2% during the forecast period. Growing Efforts to Improve Customer Satisfaction to Boost Market Growth. Fortune Business Insights™ displays this information in a report titled, Data Mining Tools Market Forecast, 2023-2030.
Data mining tools are a set of solutions and technologies that can study, identify patterns, and deliver data to form a model that can help organizations take informed decisions about their business operations. A wide range of industry verticals are experiencing digital transformation, resulting in the generation of massive volumes of digital data. This factor is predicted to fuel the data mining tools market growth.
Request a Free Sample PDF:
https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/data-mining-tools-market-107800
Key Industry Development:
May 2023: Assembly Software, with the help of its advanced analytics product Neos, introduced a next-generation data mining tool that can deliver predictive information automatically. It uses historic data and learning technology to identify real insights, which can reduce the time spent on mining.
Key Takeaways
- Prediction Analysis Using Data Mining Tools amid COVID-19 Pandemic Boosted Market Growth
- Incorporation of Data Mining and Machine Learning Solutions to Propel Market Growth
- By Enterprise Type Analysis: Higher IT Investment Capabilities to Drive Product Adoption Across Large Enterprises
- Assembly Software Launched Next-Gen Data Mining Tool to Deliver Predictive Information
- Data Mining Tools Market Size in North America was USD 388.4 Million in 2022
Discover the Leading Players Featured in the Report:
“Companies leading the Data Mining Tools Market are Oracle Corporation (U.S.), IBM Corporation (U.S.), KNIME AG (Switzerland), Altair Engineering Inc. (RapidMiner) (U.S.), Orange (Ljubljana), Rattle GUI (Togaware Pty Ltd) (Australia), Sisense Inc. (U.S.), Kaggle (Google LLC) (U.S.), SAS Institute Inc. (U.S.), Teradata Corporation (U.S.)”
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 13.2% |
| 2030 Value Projection | USD 2400 Million |
| Base Year | 2022 |
| Data Mining Tools Market Size in 2022 | USD 900.7 Million |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 160 |
| Segments covered | Deployment, Enterprise Type, Industry, Application and Geography |
Browse Complete Report Details:
https://www.fortunebusinessinsights.com/data-mining-tools-market-107800
Drivers and Restraints:
Growing Efforts to Improve Customer Satisfaction to Boost Market Growth
Stiff market competition and the ever-evolving business landscape have prompted many companies in this market to formulate various strategies to improve customer satisfaction. They are also increasing their investments in data mining tools to detect various factors that can enhance customer experience. These tools can help firms predict and identify trends from the readily available datasets to assist them in creating future strategies. These factors are expected to drive the market growth.
However, lack of skilled technical expertise and resources can restrict the market growth.
Segmentations:
By Deployment
- On-Premise
- Cloud
By Enterprise Type
- Large Enterprises
- Small & Medium Enterprises
By Industry
- BFSI
- Healthcare
- Retail
- IT & Telecom
- Manufacturing
- Education
- Government
- Others
By Application
- Marketing
- Supply Chain & Procurement
- Intrusion Detection
- Business Transaction
- Others
By Region
- North America
- Europe
- Middle East & Africa
- Asia Pacific
Regional Insights:
North America Market to Show Robust Growth with Rising Use of Advanced Technologies
North America is expected to hold a dominant position in the global market as the region is one of the early adopters of advanced technologies such as Machine Learning (ML), Artificial Intelligence (AI), and IoT. The use of these technologies has increased the volume of data generation by many folds, which has boosted the demand for reliable data analysis and pattern recognition solutions. This factor is expected to boost the regional market growth.
Asia Pacific is also anticipated to showcase notable growth in the coming years due to the rising number of internet users and strong economic growth in various nations across the region.
Quick Buy - Data Mining Tools Market Research Report:
https://www.fortunebusinessinsights.com/compare-plan/107800
Competitive Landscape:
Key Players to Use Corporate Strategies to Expand their Product Range
Some of the leading players operating in this market are trying to increase their geographical presence by using various corporate strategies such as mergers and acquisitions. These strategies will also help them expand their product portfolios and strengthen their technological expertise.
FAQ’s
How big is the Data Mining Tools Market?
Data Mining Tools Market size was USD 900.7 million in 2022.
How fast is the Data Mining Tools Market growing?
The Data Mining Tools Market will exhibit a CAGR of 13.2% during the forecast period, 2023-2030
Related Reports:
Data Science Platform Market Size, Share & Trends, Forecast 2023
Internet of Things [IoT] Market Size, Share & Growth 2023-2030
Big Data Analytics Market Size, Share, Growth Statistics 2030
Process Mining Software Market Size, Share & Growth
About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: sales@fortunebusinessinsights.com
