The global demand for Data Mining Tools Market is presumed to reach the market size of nearly USD 3.72 MN by 2028 from USD 1.59 MN in 2021 with a CAGR of 12.9% under the study period 2022 - 2028.
Data mining is the technique of sorting out large data sets to find patterns & relationships that can be used for data analysis and to solve business problems. Data mining processes and tools help enterprises to estimate future trends & make well-informed business decisions. Data mining is a vital component of outstanding analytics programs in organizations. It is an essential part of data analytics & is one of the fundamental approaches in data science, which use cutting-edge analytics methods to extract valuable & applicable information from data sets. Successful data mining helps in several aspects of managing operations and business strategies.
Market Dynamics
The major drivers leading to the robust growth of the data mining tools market include the rise in advanced technologies like artificial intelligence & the internet of things (IoT), as well as growing public and private investments in software & services that enable seamless data processing, particularly in developing economies, and the rise in demand for embedded intelligence to gain a competitive advantage. The rise in small and medium-scale enterprises, the growing volume of organizational data, the awareness among businesses to use the data assets at their disposal, the digitalization of economies, and the emergence of cloud computing will further contribute to the market growth of data mining tools.
The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of data mining tools. The growth and trends of data mining tools industry provide a holistic approach to this study.
Market Segmentation
This section of the data mining tools market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Component
By Service
- Managed Services
- Consulting And Implementation
- Others (Support And Maintenance, Training And Education)
By Business Function
- Marketing
- Finance
- Supply Chain And Logistics
- Operations
By Industry Vertical
- Retail
- Banking, Financial Services, And Insurance (Bfsi)
- Healthcare And Life Sciences
- Telecom And IT
- Government And Defense
- Energy And Utilities
- Manufacturing
- Others (Education, And Media And Entertainment)
By Deployment Type
By Organization Size
- Large Enterprises
- Small And Medium-Sized Enterprises (SMEs)
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Data Mining Tools market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Data Mining Tools Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the data mining tools market include IBM (US), Microsoft (US), SAS Institute (US), Oracle (US), Intel (US), SAP SE (Germany), RapidMiner (US), KNIME (Switzerland), Teradata (US), MathWorks (US), H2O.ai (US), Alteryx (US), FICO (US), Angoss (Canada), Salford Systems (US), BlueGranite (US), Megaputer (US), Biomax Informatics (Germany), Frontline Systems (US), Dataiku (France), Wolfram (US), Reltio (US), SenticNet (Singapore), Business Insight (Belgium), and SunTec India (Delhi). This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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