Global Research And Development (R&D) Analytics Market demand is anticipated to be valued at US$ 2,025.0 Million in 2022, forecast a CAGR of 12.1% to be valued at US$ 6,366.6 Million from 2022 to 2032. Growth is attributed to the evolving need in end-use industries. From 2016 to 2021 a CAGR of 9.1% was registered for the Research And Development Analytics Market.
Revenue growth for any institution depends on the investment made in Research and Development organizations, there is a need to take several vital decisions with regard to allocations of funds, monitor the recent technology trends and assess the risks and also manage talent. Much of these are done through experience and the expertise of the organization which is more of an art than science in which they have devised their own methods.
For short-term projects, these methods might be beneficial but for long-term Research and Development projects adoption of analytics has to be done in industries as there is a need to take decisions regarding what products to develop, competition landscape, intellectual property, patent data, market segmentation, etc.
The use of analytics in Research and Development can increase revenue and lower cost, improve accuracy, save time, and meet customers’ ever-increasing demand. There is a large volume of unstructured or unorganized data in this complex business environment, so there is a need to optimize this data using analytics in order to improve their return on investment in Research and Development.
| Data Points | Key Statistics |
|---|---|
| Growth Rate (2016 to 2021) | 9.1 % CAGR |
| Projected Growth Rate (2022 to 2032) | 12.1% CAGR |
| Expected Market Value (2022) | US$ 2,025.0 Million |
| Anticipated Forecast Value (2032) | US$ 6,366.6 Million |
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Increasing Usage in Large Enterprises to Drive the Market Growth
There is a large increase in the amount of data and there is a need to effectively manage the database with appropriate tools for converting them to valuable and structured data for accelerating the growth of the Research and Development organizations. There is a need to take decisions regarding what products to develop, customer behavior, competition landscape, intellectual property, patent data, spending, and revenue return analysis.
The increasing adoption of analytics tools assists in precise and customer-focused businesses and offers accurate data which helps in tracking achievements and goals from campaigns. This will continue to fuel the demand for Research and Development analytics solutions across different industry verticals.
Large organizations are finding it difficult to analyze these large sets of unstructured data, so here advanced Research and Development analytics tools come in to extract the relevant and appropriate information. Data being stored is growing exponentially everywhere in many formats which need to be organized and utilized appropriately.
The Data Security Concern May Impede the Market Growth
Although the Research And Development (R&D) Analytics Market has numerous end-uses, there are numerous obstacles that likely pose a challenge to market growth. Data security and privacy concerns are major challenges faced in Research And Development (R&D) Analytics Market.
Another challenge was with nomenclature followed by different companies in their data as several standards are designed by themselves internal of the organization or by respective government regulations. However, with the increasing usage of analytics in industries such as automobile, aerospace, and clinical research, demand in the Research And Development (R&D) Analytics Market is poised to grow exponentially during the assessment period.
Principal Consultant
Presence of a Leading Market Provider to Boost the Market Growth in North America
North America dominated the global Research And Development (R&D) Analytics Market and accounted for 34.4% market share and the global Research And Development (R&D) Analytics Market is anticipated to spur over the forthcoming years in this region. North America is projected to lead the global market during the forecast period with augmenting developments in the IT sector and the presence of large enterprises.
Also, the growing demand for innovative business intelligence products in the North American region has assisted the growth of the Research And Development (R&D) Analytics Market in this region.
Cloud computing, the Internet of Things (IoT), blockchain, and artificial intelligence are expanding the applications of Research and Development analytics and, as a result, driving the market. Due to the existence of prominent service suppliers, such as Microsoft, Oracle, and IBM corporation. A plethora of technological breakthroughs has been tested in the USA.
Increasing Adoption of Analytical Tools in Many Organizations to Drive The Market Growth
According to Future Market Insights, Europe is expected to provide immense growth opportunities for the Research And Development (R&D) Analytics Market, due to the technological development in the region. Europe’s Research And Development (R&D) Analytics Market accounts for a 24.7% share of the total global market. The European Market is expected to exhibit growth at a swift pace owing to the large-scale adoption of Research and Development analytics supporting tools in industries across the region.
Furthermore, the growing adoption of connected and IoT-enabled devices has driven the demand for innovative solutions based on the latest technologies, as well as the continued rollout of analytics. This is likely to expand the global Research And Development (R&D) Analytics Market size. The technological advancement in various industries, such as BFSI, IT and telecom, technology, automotive, and healthcare, in the region provides opportunities for the growth of the market.
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The Asia-Pacific is expected to register the fastest growth in revenue generation for Research And Development (R&D) Analytics Market due to the large population in countries such as China, and India.
The growth of the regional market is driven by the widespread adoption of big data analytics tools and solutions in the region. The enterprises in the region are investing heavily in customer analytics to improve business efficiency and productivity.
Moreover, the expansion of the IT sector in countries such as China, India, and Japan is anticipated to elevate the market demand in the near future. The presence of leading Research and Development analytics providers in the region boosts the growth of the market in the Asia Pacific.
The new entrants in the Research And Development (R&D) Analytics Market are continually indulging in several collaborations and highly investing in research and development activities to provide more convenient solutions to industry verticals. Some of the major start-ups that are leading the development of the market are- Fractal Analytics, Mu Sigma, Latent View
Some of the key participants present in the global Research And Development (R&D) Analytics Market include Teradata, Oracle Corporation, IBM Corporation, SAS Institute Inc., Tableau Software Inc., Microsoft Corporation, Sisense Inc., SAP SE, and TARGIT among others. Major players in the Research And Development (R&D) Analytics Market follow the strategy of partnership or acquisition of various local players to gain a competitive edge in the market. Some of the developments are listed below
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 12.1 % from 2022 to 2032 |
| Expected Market Value (2022) | US$ 2025.0 Million |
| Anticipated Forecast Value (2032) | US$ 6366.6 Million |
| Base Year for Estimation | 2021 |
| Historical Data | 2016 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Billion, Volume in Kilotons, and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered |
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| Regions Covered |
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| Key Countries Profiled |
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| Key Companies Profiled |
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| Customization | Available Upon Request |
FMI projects the global Research And Development (R&D) Analytics Market to expand at a 12.1% value CAGR by 2032
North America is expected to be the most opportunistic with a 34.3% share of the total Research And Development (R&D) Analytics Market
Teradata, Oracle Corporation, IBM Corporation, SAS Institute Inc., and Tableau Software Inc., are some prominent Research and Development analytics, market providers.
1. Executive Summary | Research And Development (R&D) Analytics Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
3.6.1. By Key Regions
3.6.2. By Key Countries
3.7. Regional Parent Market Outlook
4. Global Market Analysis 2016 to 2021 and Forecast, 2022 to 2032
4.1. Historical Market Enterprise Size Value (US$ Million) Analysis, 2016 to 2021
4.2. Current and Future Market Enterprise Size Value (US$ Million) Projections, 2022 to 2032
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By End User
5.1. Introduction / Key Findings
5.2. Historical Market Enterprise Size Value (US$ Million) Analysis By End User, 2016 to 2021
5.3. Current and Future Market Enterprise Size Value (US$ Million) Analysis and Forecast By End User, 2022 to 2032
5.3.1. Pharmaceuticals
5.3.2. Life Sciences
5.3.3. Clinical Research
5.3.4. Automobile
5.3.5. Aerospace
5.3.6. Defense
5.3.7. Others
5.4. Y-o-Y Growth Trend Analysis By End User, 2016 to 2021
5.5. Absolute $ Opportunity Analysis By End User, 2022 to 2032
6. Global Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Enterprise Size
6.1. Introduction / Key Findings
6.2. Historical Market Enterprise Size Value (US$ Million) Analysis By Enterprise Size, 2016 to 2021
6.3. Current and Future Market Enterprise Size Value (US$ Million) Analysis and Forecast By Enterprise Size, 2022 to 2032
6.3.1. Large Enterprises
6.3.2. Medium Enterprises
6.3.3. Small Enterprises
6.4. Y-o-Y Growth Trend Analysis By Enterprise Size, 2016 to 2021
6.5. Absolute $ Opportunity Analysis By Enterprise Size, 2022 to 2032
7. Global Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Region
7.1. Introduction
7.2. Historical Market Enterprise Size Value (US$ Million) Analysis By Region, 2016 to 2021
7.3. Current Market Enterprise Size Value (US$ Million) Analysis and Forecast By Region, 2022 to 2032
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. Asia Pacific
7.3.5. Middle East and Africa(MEA)
7.4. Market Attractiveness Analysis By Region
8. North America Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Country
8.1. Historical Market Enterprise Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2016 to 2021
8.2. Market Enterprise Size Value (US$ Million) Forecast By Market Taxonomy, 2022 to 2032
8.2.1. By Country
8.2.1.1. USA
8.2.1.2. Canada
8.2.2. By End User
8.2.3. By Enterprise Size
8.3. Market Attractiveness Analysis
8.3.1. By Country
8.3.2. By End User
8.3.3. By Enterprise Size
8.4. Key Takeaways
9. Latin America Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Country
9.1. Historical Market Enterprise Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2016 to 2021
9.2. Market Enterprise Size Value (US$ Million) Forecast By Market Taxonomy, 2022 to 2032
9.2.1. By Country
9.2.1.1. Brazil
9.2.1.2. Mexico
9.2.1.3. Rest of Latin America
9.2.2. By End User
9.2.3. By Enterprise Size
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By End User
9.3.3. By Enterprise Size
9.4. Key Takeaways
10. Europe Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Country
10.1. Historical Market Enterprise Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2016 to 2021
10.2. Market Enterprise Size Value (US$ Million) Forecast By Market Taxonomy, 2022 to 2032
10.2.1. By Country
10.2.1.1. Germany
10.2.1.2. United Kingdom
10.2.1.3. France
10.2.1.4. Spain
10.2.1.5. Italy
10.2.1.6. Rest of Europe
10.2.2. By End User
10.2.3. By Enterprise Size
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By End User
10.3.3. By Enterprise Size
10.4. Key Takeaways
11. Asia Pacific Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Country
11.1. Historical Market Enterprise Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2016 to 2021
11.2. Market Enterprise Size Value (US$ Million) Forecast By Market Taxonomy, 2022 to 2032
11.2.1. By Country
11.2.1.1. China
11.2.1.2. Japan
11.2.1.3. South Korea
11.2.1.4. Singapore
11.2.1.5. Thailand
11.2.1.6. Indonesia
11.2.1.7. Australia
11.2.1.8. New Zealand
11.2.1.9. Rest of Asia Pacific
11.2.2. By End User
11.2.3. By Enterprise Size
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By End User
11.3.3. By Enterprise Size
11.4. Key Takeaways
12. Middle East and Africa(MEA) Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Country
12.1. Historical Market Enterprise Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2016 to 2021
12.2. Market Enterprise Size Value (US$ Million) Forecast By Market Taxonomy, 2022 to 2032
12.2.1. By Country
12.2.1.1. GCC Countries
12.2.1.2. South Africa
12.2.1.3. Israel
12.2.1.4. Rest of Middle East and Africa(MEA)
12.2.2. By End User
12.2.3. By Enterprise Size
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By End User
12.3.3. By Enterprise Size
12.4. Key Takeaways
13. Key Countries Market Analysis
13.1. USA
13.1.1. Pricing Analysis
13.1.2. Market Share Analysis, 2021
13.1.2.1. By End User
13.1.2.2. By Enterprise Size
13.2. Canada
13.2.1. Pricing Analysis
13.2.2. Market Share Analysis, 2021
13.2.2.1. By End User
13.2.2.2. By Enterprise Size
13.3. Brazil
13.3.1. Pricing Analysis
13.3.2. Market Share Analysis, 2021
13.3.2.1. By End User
13.3.2.2. By Enterprise Size
13.4. Mexico
13.4.1. Pricing Analysis
13.4.2. Market Share Analysis, 2021
13.4.2.1. By End User
13.4.2.2. By Enterprise Size
13.5. Germany
13.5.1. Pricing Analysis
13.5.2. Market Share Analysis, 2021
13.5.2.1. By End User
13.5.2.2. By Enterprise Size
13.6. United Kingdom
13.6.1. Pricing Analysis
13.6.2. Market Share Analysis, 2021
13.6.2.1. By End User
13.6.2.2. By Enterprise Size
13.7. France
13.7.1. Pricing Analysis
13.7.2. Market Share Analysis, 2021
13.7.2.1. By End User
13.7.2.2. By Enterprise Size
13.8. Spain
13.8.1. Pricing Analysis
13.8.2. Market Share Analysis, 2021
13.8.2.1. By End User
13.8.2.2. By Enterprise Size
13.9. Italy
13.9.1. Pricing Analysis
13.9.2. Market Share Analysis, 2021
13.9.2.1. By End User
13.9.2.2. By Enterprise Size
13.10. China
13.10.1. Pricing Analysis
13.10.2. Market Share Analysis, 2021
13.10.2.1. By End User
13.10.2.2. By Enterprise Size
13.11. Japan
13.11.1. Pricing Analysis
13.11.2. Market Share Analysis, 2021
13.11.2.1. By End User
13.11.2.2. By Enterprise Size
13.12. South Korea
13.12.1. Pricing Analysis
13.12.2. Market Share Analysis, 2021
13.12.2.1. By End User
13.12.2.2. By Enterprise Size
13.13. Singapore
13.13.1. Pricing Analysis
13.13.2. Market Share Analysis, 2021
13.13.2.1. By End User
13.13.2.2. By Enterprise Size
13.14. Thailand
13.14.1. Pricing Analysis
13.14.2. Market Share Analysis, 2021
13.14.2.1. By End User
13.14.2.2. By Enterprise Size
13.15. Indonesia
13.15.1. Pricing Analysis
13.15.2. Market Share Analysis, 2021
13.15.2.1. By End User
13.15.2.2. By Enterprise Size
13.16. Australia
13.16.1. Pricing Analysis
13.16.2. Market Share Analysis, 2021
13.16.2.1. By End User
13.16.2.2. By Enterprise Size
13.17. New Zealand
13.17.1. Pricing Analysis
13.17.2. Market Share Analysis, 2021
13.17.2.1. By End User
13.17.2.2. By Enterprise Size
13.18. GCC Countries
13.18.1. Pricing Analysis
13.18.2. Market Share Analysis, 2021
13.18.2.1. By End User
13.18.2.2. By Enterprise Size
13.19. South Africa
13.19.1. Pricing Analysis
13.19.2. Market Share Analysis, 2021
13.19.2.1. By End User
13.19.2.2. By Enterprise Size
13.20. Israel
13.20.1. Pricing Analysis
13.20.2. Market Share Analysis, 2021
13.20.2.1. By End User
13.20.2.2. By Enterprise Size
14. Market Structure Analysis
14.1. Competition Dashboard
14.2. Competition Benchmarking
14.3. Market Share Analysis of Top Players
14.3.1. By Regional
14.3.2. By End User
14.3.3. By Enterprise Size
15. Competition Analysis
15.1. Competition Deep Dive
15.1.1. Teradata
15.1.1.1. Overview
15.1.1.2. Product Portfolio
15.1.1.3. Profitability by Market Segments
15.1.1.4. Sales Footprint
15.1.1.5. Strategy Overview
15.1.1.5.1. Marketing Strategy
15.1.2. Oracle Corporation
15.1.2.1. Overview
15.1.2.2. Product Portfolio
15.1.2.3. Profitability by Market Segments
15.1.2.4. Sales Footprint
15.1.2.5. Strategy Overview
15.1.2.5.1. Marketing Strategy
15.1.3. IBM Corporation
15.1.3.1. Overview
15.1.3.2. Product Portfolio
15.1.3.3. Profitability by Market Segments
15.1.3.4. Sales Footprint
15.1.3.5. Strategy Overview
15.1.3.5.1. Marketing Strategy
15.1.4. SAS Institute Inc.
15.1.4.1. Overview
15.1.4.2. Product Portfolio
15.1.4.3. Profitability by Market Segments
15.1.4.4. Sales Footprint
15.1.4.5. Strategy Overview
15.1.4.5.1. Marketing Strategy
15.1.5. Tableau Software Inc.
15.1.5.1. Overview
15.1.5.2. Product Portfolio
15.1.5.3. Profitability by Market Segments
15.1.5.4. Sales Footprint
15.1.5.5. Strategy Overview
15.1.5.5.1. Marketing Strategy
15.1.6. Microsoft Corporation
15.1.6.1. Overview
15.1.6.2. Product Portfolio
15.1.6.3. Profitability by Market Segments
15.1.6.4. Sales Footprint
15.1.6.5. Strategy Overview
15.1.6.5.1. Marketing Strategy
15.1.7. Sisense Inc.
15.1.7.1. Overview
15.1.7.2. Product Portfolio
15.1.7.3. Profitability by Market Segments
15.1.7.4. Sales Footprint
15.1.7.5. Strategy Overview
15.1.7.5.1. Marketing Strategy
15.1.8. SAP SE
15.1.8.1. Overview
15.1.8.2. Product Portfolio
15.1.8.3. Profitability by Market Segments
15.1.8.4. Sales Footprint
15.1.8.5. Strategy Overview
15.1.8.5.1. Marketing Strategy
15.1.9. TARGIT
15.1.9.1. Overview
15.1.9.2. Product Portfolio
15.1.9.3. Profitability by Market Segments
15.1.9.4. Sales Footprint
15.1.9.5. Strategy Overview
15.1.9.5.1. Marketing Strategy
16. Assumptions & Acronyms Used
17. Research Methodology
Industrial Automation
September 2022
REP-GB-181
250 pages
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Research And Development (R&D) Analytics Market
