Dublin, Nov. 16, 2023 (GLOBE NEWSWIRE) -- The "Australia Data Analytics Market Competition Forecast & Opportunities, 2028" report has been added to ResearchAndMarkets.com's offering.
Australia Data Analytics Market is expected to register a high CAGR during the forecast period, 2024-2028
The data analytics market in Australia is expected to grow as organizations become more data driven. Data analytics has become a critical tool for businesses to make important choices. The Australia Data Analytics Market has been driven by the increasing demand from organizations for predictive insights and data-driven decision-making capabilities.
The Australia data analytics market is rapidly growing and has become a significant contributor to the country's economy, Moreover, the development of advanced technologies such as artificial intelligence, machine learning, and big data has made it easier to analyse large amounts of data.
Furthermore, the adoption of cloud computing has made it easier for businesses to store and access their data, enabling them to analyse it more efficiently. Data analytics assists firms in identifying fraud, increasing efficiency, decreasing risk, enhancing customer experience and happiness, responding quickly to new market trends, obtaining a competitive advantage over other industry players, and so on.
The rising number of enterprises that rely on big scale data analytics to get more insights into their customers' behaviour as well as their particular business requirements is one of the reasons for the growth of the data analytics industry in Australia.
Furthermore, increased awareness among companies about the generated data that can be utilised to predict future events is favorably driving the growth of the country's data analytics industry. Additionally, increased use of integrated and linked technologies is expected to drive market growth during the forecast period.
Adoption of Cloud-Based Technologies & Rise of Big Data Analytics
Australia's data analytics market is seeing a rapid expansion, propelled by the increasing prevalence of cloud-based technologies and the emergence of big data analytics. These advances in technology are revolutionizing the manner in which companies interact with and analyse their data, permitting them to generate priceless insights and make well-informed decisions.
Firstly, the emergence of cloud-based technology has had a significant impact on the landscape of data analytics. Cloud services provide organizations in Australia with a scalable and elastic infrastructure, enabling them to store and process significant amounts of data with greater efficiency. On-premises constraints are easily navigated and, on top of that, access to advanced analytics is made achievable.
Moreover, cloud-based data analytics solutions allow businesses of any size to undertake real-time analysis, foster collaboration across teams, and gain access to analytics tools and services at the click of a button. It is this scalability and accessibility that has led to the growing popularity and quicker-than-expected growth of the data analytics market within Australia.
Increasing Demand for Data-driven Decision-making & Need for Real-time Analytics
Data analytics solutions give organisations the tools that need to handle, analyse, and understand data in order to make better business choices and achieve a competitive edge. In Australia, there is an increasing demand for real-time analytics solutions, notably in banking, healthcare, and transportation. Businesses may use real-time analytics to monitor their operations in real-time, allowing them to adapt rapidly to changes in their environment and make more informed decisions.
The analytics market in Australia is poised for significant growth due to two major factors: the increasing demand for data-driven decision-making and the need for real-time analytics. These factors are driven by the evolving business landscape and the growing importance of leveraging data to gain a competitive advantage.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 90 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $945 Million |
| Forecasted Market Value (USD) by 2028 | $3791.48 Million |
| Compound Annual Growth Rate | 25.8% |
| Regions Covered | Australia |
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in Australia Data Analytics Market
- TIBCO Software Australia Pty Ltd
- Teradata Corporation.
- SAP AUSTRALIA PTY LTD.
- SAS Institute Australia Pty Ltd
- IBM Australia Ltd
- Pernix Corporation
- Woveon Australia
- SFDC Australia Pty. Ltd. (Salesforce)
- QLIKTECH AUSTRALIA PTY LTD
- Microsoft Pty Ltd
Report Scope:
Australia Data Analytics Market, By Component
- Software
- Services
Australia Data Analytics Market, By Deployment
- On-Premise
- Cloud
Australia Data Analytics Market, By Organization Size
- Large Enterprises
- Small and Medium Enterprises
Australia Data Analytics Market, By End-User Industry
- Retail & E-Commerce
- Government & Defense
- BFSI
- IT & Telecom
- Others
Australia Data Analytics Market, By Region:
- Australian Capital Territory+ New South Wales
- Victoria+Tasmania
- Queensland
- Western Australia
- Northern Territory+Southern Australia
For more information about this report visit https://www.researchandmarkets.com/r/bhd1wr
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