With the emergence and long-term Impact of COVID-19, Global Data Mining Tools Market to reach USD 2428.58 million by 2030
Bizwit Research & Consulting LLP’s recent analysis on the Global Data Mining Tools Market points towards a potential rise to USD 2428.58 million by 2030. Data mining tools are software applications or platforms that facilitate the process of extracting valuable insights and patterns from large datasets. These tools utilize a variety of methods and algorithms to explore, examine, and analyze data, frequently with the aim of identifying unobserved connections, patterns, and trends that aid in prediction and decision-making.
Many industries, including BFSI, healthcare, retail, IT & telecom, manufacturing, education, government, and others, regularly employ data mining techniques. The growing demand for predictive analysis, rising use of data mining tools in the banking industry, rising inclination towards data mining tools to improve organizational efficiency, and a significant increase in data volume are the most prominent factors that are propelling the market demand across the globe.
Geographically, the global Data Mining Tools market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). North America dominated the market in 2022 because of the development of innovative technologies like artificial intelligence, machine learning, the Internet of Things, and more, as well as sufficient availability of supporting infrastructure. Whereas, Asia Pacific is expected to grow at the highest CAGR over the forecast years. The growing expenditure for the development of IT infrastructure, surging number of small-scale businesses, and rising commercial investments by numerous companies are significantly propelling the market demand across the region.
The global Data Mining Tools market is highly competitive owing to the presence of several key players such as 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.) and others.
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Key findings of the study suggest:
- Global Data Mining Tools Market is anticipated to grow with a healthy growth rate of more than 13.2% over the forecast period 2023-2030.
- In the Deployment segment, Cloud emerged out as the leading market segment in 2022.
- North America is anticipated to drive regional growth owing to development of innovative technologies in the region.
- Asia Pacific is expected to grow at higher rate owing to growing expenditure for the development of IT infrastructure in the region.
Bizwit Research & Consulting has considered following segments for the study:
By Deployment:
- On-Premise
- Cloud
By Enterprise Type:
- Large Enterprises
- Small & Medium Enterprises
By Application:
- Marketing
- Supply Chain & Procurement
- Intrusion Detection
- Business Transaction
- Others
By Industry:
- BFSI
- Healthcare
- Retail
- IT & Telecom
- Manufacturing
- Education
- Government
- Others
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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Bizwit Research & Consulting LLP is a global provider of business intelligence & consulting services. The company has a strong primary base of key industry leaders along with the chain of industry analysts to analyze the market trends and its future impact in order to estimates and forecast different business segments and markets. Bizwit incorporate big data, expert analysis, and huge industry database to deliver client focused business consulting reports. Our analysts perform unbiased measurement and assessment of market opportunities to comprehend detailed market forecast. Our team of key opinion leaders evaluates the market size, growth prospects, end-use, applications, value & supply chain and top vendors in the industry to help the clients to take conversant business decisions without any vague assumptions.
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