Global Data Analytics Market Expected to Reach $132.9 Billion by 2026"

A recent report by Allied Market Research has projected that the global data analytics market is expected to reach $132.9 billion by 2026, growing at a compound annual growth rate (CAGR) of 28.7% from 2019 to 2026. This is a significant increase from the $22.7 billion market value in 2015.

The report attributes this growth to the increasing adoption of big data analytics tools and the rise in demand for cloud-based analytics solutions. As companies increasingly rely on data analytics to drive their business decisions, the demand for data analytics tools and services is on the rise. The report also highlights the role of cloud computing in driving this growth, as companies look for scalable, cost-effective solutions for processing and storing large amounts of data.

The report notes that North America is currently the largest market for data analytics, due to the presence of large technology companies and a highly developed IT infrastructure. However, the Asia-Pacific region is expected to experience the highest growth rate, due to the increasing adoption of cloud-based analytics solutions and the rise of e-commerce and other digital businesses in the region.

With such rapid growth expected in the data analytics market, it's clear that data analytics is a crucial aspect of business strategy in today's digital age. Companies that invest in data analytics tools and services can gain valuable insights into their operations and customers, allowing them to make more informed decisions and gain a competitive advantage in the marketplace.

Therefore, professionals working in the field of data analytics should keep themselves up-to-date with the latest trends and technologies, and be prepared to adapt to the changing demands of the industry