Dark Analytics Market Snapshot (2023 to 2033)

The global dark analytics market is anticipated to be valued at USD 588.8 million in 2023. The increasing concentration of companies towards data security is further compelling the companies to analyse dark data to plan their information security strategy. Overall, demand for dark analytics is projected to grow at a CAGR of 21.3% between 2023 and 2033, totaling around USD 4,071.7 million by 2033.

Data Points Key Statistics
Growth Rate (2018 to 2022) 19.2% CAGR
Expected Market Value (2023) USD 588.8 million
Anticipated Forecast Value (2033) USD 4,071.7 million
Projected Growth Rate (2023 to 2033) 21.3% CAGR

Dark analytics is the analysis of dark data present in enterprises. Dark data is generally referred to as raw data or information buried in the text, tables, and figures that organizations acquire in various business operations and store but is unused to derive insights and for decision making in business.

Organizations nowadays are realizing that there is a huge risk associated with losing a competitive edge in business and regulatory issues that comes with not analyzing and processing this data. Hence, dark analytics is a practice followed in enterprises that advance in analyzing computer network operations and pattern recognition.

The rapid penetration owing to the introduction of digitalization and industrial revolutions and high growth in data generated by organizations because of increased adoption of IoT is expected to flourish the growth of the dark analytics market during the forecast period.

On the other hand, security concerns and risks associated with data are one of the major factors that are expected to hamper the growth of the Dark Analytics market over the analysis period.

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Key Drivers Underpinning Dark Analytics Industry Expansion

Digitization of Businesses & Potential to Optimize Real-time Data Will Act as Prominent Growth Drivers

The major factor that is expected to propel the growth of the Dark Analytics market during the forecast period includes extracting insights for decision making by immediate analysis of real-time information from key business processes such as sales, production, and distribution trends.

Additionally, factors such as gaining insights from and making the most of every data point, efficiency in terms of time, money, and resources in processing unstructured data, and aid to minimize the accumulation of dark data by transforming it into valuable real-time information are also anticipated to accelerate the growth of dark analytics market over the analysis period.

Internet access and devices enable organizations to obtain relevant data, such as customer behavior in retail outlets, real-time marketing analysis, sensor-driven decision analytics, and immediate control response in complex automated systems. Technology that connects businesses and governments to all smart prospects, such as smart urban, transportation, smart healthcare, and smart energy.

As an outcome, the rapid adaptation of IoT in vertical markets including BFSI, universal health care, industrial production, and others is projected to boost for dark analytics to produce significant information from dark data. Dark details can be obtained in the form of emails, video files, messages, audio, images, and other layouts. It is exceptionally hard for data analysts to maintain, regulate, and clean this dark data.

Challenges Faced by Dark Analytics Industry

High Volume of Raw & Unsynchronized Data May Slowdown the Market Expansion

Synchronization and integration of dark data are among the major restraints for the dark analytics market. There is huge heterogeneity in dark data since it is obtained from different sources at different rates and on different schedules. There is a risk of information being unsynchronized due to conventional data marts, sequences of data extractions and transformations, and importantly, its accumulation from diverse sources.

In recent times, the volume of data has been increasing due to the growing use of various personal devices, such as smartphones, wearable devices, and laptops, among others, which require real-time processing of data, data coherence, and proper technology selection, thereby making integration of transactional data much more difficult. This may hamper the adoption of dark analytics solutions in the coming years.

There is a huge scarcity of affordable dark analytics management and business consulting firms. The dark analytics management and consulting vertical is mostly dominated by large companies whose services are not in line with the needs and budgets of small and medium organizations. Large consulting companies are mostly concerned with selling their business services to undertake complex projects for extended periods. As there is a huge demand for analytics-associated services among small and business enterprises, the shortage of management and consulting firms may slow down the adoption of dark analytics in the coming years.

In addition, security concerns and risks associated with data, and data storage costs are some other factors impeding the growth of the dark analytics market over the analysis period.

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Sudip Saha

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Region-wise Insights

North America's Soaring Investments in BFSI & Cloud-based Start-ups Projected to Nurture Significant Position in the Global Dark Analytics Market

In terms of regional platforms, North America holds a significant market share in the dark analytics market. The region is expected to accumulate 27.8% revenue in 2023. North America is the biggest market for dark analytics market to ensure compliance with business processes and legal issues.

The region is expected to show significant growth in the dark analytics market, attributed to emerging start-ups and the rise in the adoption of analytics in enterprises. Dark analytics solutions are adopted by governments and large enterprises to improve their decision-making process.

For instance, In Aug 2022, SAP announced that the RISE with SAP solution continued its strong rate of adoption across businesses in North America, as organizations of all sizes selected SAP in the second quarter of 2022 to help drive their cloud transformations.

Growth of European Dark Analytics Market Unfolds with Incorporation of State-of-the-art Technologies in Business Model

According to Future Market Insights, Europe is expected to provide immense growth opportunities for dark analytics and is expected to reach a market share of 23.6% in 2023. Europe is expected to emerge as the second-largest region, driven by the adoption of data-driven strategies in business processes. This market growth is attributed to the rising prominence of artificial intelligence and increasing investments in data analytics programs.

Over the years, Germany undertook new steps to institutionalize governmental data analysis. In 2021, the government made a Euro 239 million investment for building data labs in every ministry and the Chancellery, adding new capacity across the federal government. These initiatives are fueling the market growth of the Dark Analytics segment in the region.

Moreover, the developments in the E-commerce and BFSI sectors are another factor augmenting the demand for dark analytics to make crucial business decisions.

Asia Pacific Bolsters Demand for Dark Analytics with Robust IT Sector Growth and Enhanced Data Protection Needs

As per the recent analysis by Future Market Insights, Asia pacific is anticipated to be the highest growing region over the forecast period. The growth in the Asia Pacific will primarily be driven by the increasing concentration of IT companies adopting dark analytics to optimize their business functionality.

In Addition, the rising number of security breaches is one of the foremost factors anticipated to propel the growth of dark analytics during the forecast period. For instance, In July 2021, Japanese-headquartered insurance firm Tokio Marine Group became a victim of ransomware attacks on its Singapore unit. The insurer also verified that the ransomware attack affected the Singapore subsidiary only, and there is no damage or effect on different group companies. The victim organization has taken information security safeguards so far and will endeavor to make more efforts to keep customer data and confidential information protected.

Category-wise Insights

By End User Type: BFSI Leads as Prominent Dark Analytics Category in Global Market

The global dark analytics market is segmented into analytics type, dark data type, end-user type, and regions. Based on the end-user type segment, the BFSI industry segment captures the highest volume of market share in the global Dark Analytics market. This segmental growth is attributed to the incessantly growing digital data and rising inclination toward the customer-centric business model.

The growing adoption of cutting-edge technologies including big data, blockchain, cloud computing, and biometrics generates extensive data. AI-based solutions are incorporated with machine learning algorithms to assist banks in gathering and analyzing data. It offers an in-depth analysis of the customer data and helps banks to make decisions, enabling operational efficiency and gaining higher ROI.

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The Start-Up Ecosystem: Key Players Opening Frontiers for Future Growth

There are many prominent market players in the dark analytics market, who are working hand-in-hand to provide the best-in-class Dark Analytics for enhancing the global analytics arena. However, many global start-ups in the dark analytics market are stepping forward in matching the requirements of the dark analytics domain.

  • Founded in 2012, Elastic is a Cloud-based platform for enterprise search. It is a distributed search and analytics engine for structured, unstructured, and time series data. It collects log data from multiple sources for visualization. Its commercial products offer deployment, monitoring, security, and notifications. Its clients include Microsoft, Netflix, Uber, and Slack. The company is based out of Mountain View (United States) and garnered funding of USD 104 million.
  • Launched in 2015, Bobble AI is an Indian-based provider of an AI-based keyboard app. It has a facial recognition feature that is used to convert selfies into GIFs and stickers. Its other features include multilingual language support, glide typing, custom fonts, themes, voice typing, and autocorrection. The app integrates with Facebook, Snapchat, and Whatsapp Messenger platforms. The app features work in real-time with its ability to match facial expressions and facial tone with the sticker's emotion and theme. Since the launch, the company has collected funding of USD 9 million.
  • Founded in 2015, Primer develops a text analytics solution that uses a combination of supervised and unsupervised machine learning models to ingest large quantities of textual data and provide summaries of what it deems the most important information. It uses 6 computational engines to help it summarize and contextualize data. The primer claims that its platform is used by government agencies and Fortune 50 companies. The startup has received a total funding of USD 154 Million and is located in San Francisco (United States).
  • Founded in 2006, Clarabridge is a USA based firm that offers a CEM platform to collect feedback through multi-channel - mobile, email, IVR, desktop, social channels, text, surveys, and blogs to capture the voice of the customer. Text analytics, speech analytics, sentiment analysis, and NLP help to manage unstructured feedback and provide real-time actionable insights that can be integrated with CRM systems to provide better services to customers. Some of its customers include AOL, Capital One, Expedia, Intuit, Walmart, United Airlines, and Marriott International. It acquired Engagor and MarketMetrix in 2015 and 2014.

Competitive Landscape: The Leading Players in the Dark Analytics Market are Making Significant Strides and Advancements

  • In July 2022, IBM announced the acquisition of Databand.ai, a leading provider of data observability software that helps organizations fix issues with their data, including errors, pipeline failures, and poor quality - before it impacts their bottom line. This news further strengthens IBM's software portfolio across data, AI, and automation to address the full spectrum of observability and helps businesses ensure that trustworthy data is being put into the right hands of the right users at the right time.
  • In June 2022, Microsoft announced its plans to acquire cyber threat analysis and research company Miburo. The cybersecurity company specializes in detecting and responding to foreign information operations.
  • In February 2021, Google acquired Halli Labs, a four-month-old Bengaluru-based start-up that develops artificial intelligence and machine learning options.
  • In June 2020, Apple acquired Lattice Data, a company that uses an AI-enabled interface to discover and generate unstructured data into structured data.
  • May 2023 - Deloitte acquired all the assets of Optimal Design Co. Deloitte's leading-edge capabilities, paired with Optimal Design's multi-disciplinary PES talent. It is expected to help customers unlock innovation and achieve their digital transformation goals.
  • July 2023 - IBM Corporation collaborated with the National Association of Boards of Pharmacy (NABP) with a view of bringing visibility to the drug supply chain and helping protect patients from counterfeit or substandard prescription medications.

Report Scope

Attribute Details
Growth Rate CAGR of 21.3% from 2023 to 2033
Market Value in 2023 USD 588.8 million
Market Value in 2033 USD 4,071.7 million
Base Year for Estimates 2022
Historical Data 2018 to 2022
Forecast Period 2023 to 2033
Quantitative Units Revenue in USD million and CAGR from 2023 to 2033
Report Coverage Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis
Segments Covered Analytics type, Dark Data type, End User, Region
Regions Covered North America; Latin America; Europe; Asia Pacific; Middle East and Africa
Key Countries Profiled United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, China, Japan, South Korea, GCC, South Africa, Israel
Key Companies Profiled IBM Corporation; Deloitte; SAP SE; Teradata; Hewlett-Packard; EMC Corporation; VMware, Inc.; Microsoft Corporation

Key Segments Covered in the Dark Analytics Industry Analysis

By Analytics Type:

  • Predictive
  • Prescriptive
  • Diagnostic
  • Descriptive

By Dark Data Type:

  • Business
  • Customer
  • Operational

By End User:

  • BFSI
  • Government
  • Retail & E-Commerce
  • Travel and Hospitality
  • Other End Users

By Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa

Frequently Asked Questions

How Big is the Dark Analytics Market?

The market is valued at USD 588.8 million in 2023.

Who are the Key Dark Analytics Market Players?

IBM, SAP, and Microsoft are key market players.

Which are the Key Asian Countries in the Dark Analytics Market?

India, Japan, and China dominate the Asian market.

How Big Will the Dark Analytics Market by 2033?

The market is estimated to reach USD 4,071.7 million by 2033.

Which Region holds high Lucrativeness in Dark Analytics Market?

North America is projected to emerge as a lucrative market.

Table of Content
	1. Executive Summary
	2. Market Overview
	3. Market Background
	4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
	5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Analytics Type
		5.1. Predictive
		5.2. Prescriptive
		5.3. Diagnostic
		5.4. Descriptive
	6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Dark Data Type
		6.1. Business
		6.2. Customer
		6.3. Operational
	7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End User
		7.1. BFSI
		7.2. Government
		7.3. Retail & E-Commerce
		7.4. Travel and Hospitality
		7.5. Other End Users
	8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
		8.1. North America
		8.2. Latin America
		8.3. Western Europe
		8.4. Eastern Europe
		8.5. South Asia and Pacific
		8.6. East Asia
		8.7. Middle East and Africa
	9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
	10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
	11. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
	12. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
	13. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
	14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
	15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
	16. Key Countries Market Analysis
	17. Market Structure Analysis
	18. Competition Analysis
		18.1. IBM Corporation
		18.2. Deloitte
		18.3. SAP SE
		18.4. Teradata
		18.5. Hewlett-Packard
		18.6. EMC Corporation
		18.7. VMware, Inc.
		18.8. Microsoft Corporation
		18.9. Micro Focus
		18.10. Amazon Web Services
		18.11. Avepoint
		18.12. Zoomdata
	19. Assumptions & Acronyms Used
	20. Research Methodology
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