Business Intelligence (BI) is the use of applications and practices to collect, integrate, analyze and present raw information. Times series intelligence is a technique under the BI umbrella. Time series data is a set of analytical information, such as industrial process parameters or business metrics, collected in correlation with time. Analyzing time series data gives performance patterns essential for critical decision making in economic forecasting, budget analysis, financial market analysis, inventory management and others. The digital trend has transformed the rigorous manual tasks for analyzing huge data sets to computer software assisted process. Time series intelligence software helps in extracting significant business insights and trends from the database which stores information related to business operations. Organizations are largely deploying time series intelligence software to analyze huge data sets and produce results at a faster rate, with reduced human error. Thus, such factors are influencing the growth of global time series intelligence software market.
Access the Full Report @ https://www.absolutemarketsinsights.com/reports/Global-Time-Series-Intelligence-Software-Market-2019-2027-342
The global time series intelligence software market revenue stood at US$ 420.7 Million in 2020 and is expected to reach US$ 1,981.4 Million by the end of 2029, growing at a CAGR of 17.7%.
On the basis of component, the global time series intelligence software market is segmented into solution and services offered by the major players in this market. The solutions offered either come as a stand-alone software or in an integrated business intelligence suite. Solutions segment led the market with 70.84% in 2018 and is expected to hold 68.15% in 2027 with a CAGR of 17.2% from 2019 to 2027. Advent of more efficient software solutions, utilizing state of the art technologies, coupled with the growing awareness about business intelligence methods has fostered the adoption of time series intelligence solutions across organizations. For instance, Daimler AG uses machine learning powered time series forecasting tool called, ‘AutoML’ which automates the process of selecting relevant features in time series data. Integrated solutions are projected to hold majority of the share, with around 63.62% in 2027. The services segment, is expected to grow with comparatively higher CAGR of 18.8% over the forecast period. The growing popularity of cloud based solutions is expected to influence the services segment with increased requirement of services such as data center services, integration services and consultation service amongst others.
The time series intelligence software can be either deployed on a web based platform or a cloud based platform. Cloud based segment is leading with 63.59% share of global time series intelligence software market in 2018. Cloud based time series intelligence software allows users to access software applications that run on shared computing resources such as processing power, memory, and disk storage. The server-less approach of cloud based applications overcomes the challenges in scaling and enables data professional to work flexibly from remote locations. Thus, major players in the time series intelligence software market have launched their cloud based solutions. For instance, ABB Ability platform utilizes Microsoft Azure Time Series Insights, a cloud based time series intelligence tool of Microsoft, for storing and analyzing IoT data sets. Thus, advantages of cloud based solutions such as reduced infrastructure cost and faster real-time insights will boost the global time series intelligence software market over the forecast period.
The time series intelligence software has four major applications including data exploration & visual anomaly detection, operational analysis, advanced analytics and others. On the basis of application, data exploration & visual anomaly detection segment is leading the time series intelligence software market with 46.19% of share in 2018. The technological revolution has transformed conventional time series intelligence software with state-of-the-art technologies such as artificial intelligence. For instance, Tensormake Corporation, USA based startup, has introduced automated time series forecasting tool named oneclick.ai. This tool is powered with deep learning to solve complex tasks quickly with more than 90% accuracy.
The report provides both, qualitative and quantitative research of global time series intelligence software market, as well as provides worthy insights into the rational scenario and favored development methods adopted by key contenders. The report also offers extensive research on the key players in global time series intelligence software market and detailed insights on the competitiveness of these players. Key business strategies such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts adopted by the major players are also recognized and analyzed in the report. For each company, the report recognizes their headquarters, competitors, product/service type, application and specification, pricing, and gross margin.
The primary market participants in the global time series intelligence software market includes Anodot Ltd., Axibase Corporation, Datapred SA, Microsoft Corporation, Seeq Corporation, SenX S.A.S., Shapelets, Trendalyze, Inc., TrendMiner amongst others.
Purchase the latest in-depth report @ https://www.absolutemarketsinsights.com/checkout?id=342
Global Time Series Intelligence Software Market
- By Component
- Solution
- Integrated
- Standalone
- Services
- Solution
- By Platform
- Web based
- Cloud based
- By Application
- Data Exploration & visual anomaly detection
- Operational Analysis
- Advanced Analytics
- Others
- By End User
- Data Analysts
- Data Scientists
- Others
- By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Contact Us:
Company: Absolute Markets Insights
Email Id: sales@absolutemarketsinsights.com
Phone: IN +91-740-024-2424, US +1-510-420-1213
Contact Name: Shreyas Tanna
Website: www.absolutemarketsinsights.com
