The global Descriptive Analytics Market research report forecast to 2032 has been recently published by Reports and Data to help user understand the current market scenario. The report offers a detailed analysis of market size, market share, revenue growth, emerging trends, market drivers, restraints, opportunities, limitations, and top companies operating in the market. The data is obtained through extensive primary and secondary research which is further verified by industry experts. This data is represented using various charts, tables and graphs which makes it easier for the reader. It also provides complete analysis of the global Descriptive Analytics market with details about statistical tools such as SWOT and Porter’s Five Forces analysis.

The global Descriptive Analytics market size was USD 23.4 billion in 2022 and is expected to reach a value of USD 98.6 billion in 2032 and register a revenue CAGR of 17% during the forecast period. In sectors like manufacturing, energy and utilities, and automotive, among others, there is a growing need for precise and efficient data analysis. The need for Descriptive Analytics solutions that can deliver actionable insights for optimizing production processes and lowering operating costs is being driven by the availability of Big Data and the growing usage of the Internet of Things (IoT) in industrial operations.

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The information and communication technology sector is rapidly gaining traction owing to rapid technological advancements, high demand for smartphones, laptops, computers and other modern electronic devices, and increasing adoption of latest technologies such as Artificial Intelligence (AI), Internet of Things (IoT), and cloud services. The ICT sector consists of several sections, software, hardware, telecommunications and other services. Factors such as increasing demand for advanced ICT services in BFSI, agriculture, retail, hospital and healthcare, rapid adoption of digitalization, rising number of internet users and high demand of advanced services and devices are expected to drive global market revenue growth during the forecast period. Other factors such as increasing need for managing large data base, rising concerns about data security and increasing investments in R&D activities are expected to boost market growth during the forecast period.

Competitive Landscape:

Competitive landscape of global Descriptive Analytics market is quite fragmented with regional and global key players. These market players are involved in various strategies including mergers and acquisitions, collaborations, new product launches or corporate deals to retain their market position and expand product portfolio. 

Some leading companies operating in the global Descriptive Analytics market

• Siemens AG
• IBM Corporation
• General Electric Company
• PTC Inc.
• SAS Institute Inc.
• ABB Ltd.
• Honeywell International Inc.
• Rockwell Automation, Inc.
• Cisco Systems, Inc.
• Accenture Plc.

The global market is further segmented into type and application:

Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.

• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
• Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
• Latin America (Brazil, Rest of LATAM)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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