The dark analytics market is evaluated at US$334.468 million for the year 2019 and is projected to grow at a CAGR of 26.94% reaching the market size of US$1,776.077 million by the year 2026.
Dark analytics is the process of analyzing large amounts of unutilized and unstructured data to make use of it for better decision making, improved data-driven marketing, and many other applications. The rising number of security breaches is one of the prominent factors anticipated to propel the growth of dark analytics during the forecast period. Furthermore, as the competition among the organizations continues to intensify, they are witnessing an increasing need to analyze large volumes of unstructured or dark data to gain meaningful insights from it and use it for improved marketing and operational efficiency. The increasing focus of companies towards data security is further pushing the companies to analyze dark data to plan their information security strategy. This is projected to increase the demand for dark analytics solutions, thus boosting the market growth during the assessment period.
The recent outbreak of the novel coronavirus disease had a positive impact on the dark analytics market. As the pandemic restricted the people inside their homes and strict COVID-19 measures, work-from-home was implemented in many parts of the world, wherever possible, which increased the amounts of data generated, as everything was managed by distance. Also, the pandemic led to a boost in digitalization which further led to a rise in data. Furthermore, the marketing strategies of companies largely shifted to the online platform and led to a rise in data-driven marketing. This led to a surge in the adoption of dark analytics during the pandemic. Furthermore, with the rise in data usage, the trend for the increased adoption of dark analytics is projected to continue in the future.
The rise in data-driven marketing.
One of the major factors anticipated to drive the growth of the dark analytics market during the forecast period is the increased use and popularity of data-driven marketing. With the rise in digitalization, data-driven marketing has gained traction. By making the use of customer data and analyzing it, individual-targeted and better marketing strategies can be made, and hence the data-driven market has been surging. Furthermore, the competition in data-driven marketing has increased immensely over the years and hence companies now have been diving into the dark data to gather new and unexplored insights about the customers, in order to stay ahead of the competition. With the rise of new technologies such as machine learning and big data analytics, using dark data analytics for marketing is expected to be one of the key differentiators in competition between the companies' marketing strategies in the future. Hence, the rising competition in data-driven marketing is expected to prompt marketers to adopt advanced technologies like dark analytics, which is projected to boost the growth of the data analytics market during the forecast period.
Increased focus on data security.
The rise in the cases of data breaches has led to an increased focus of companies on their data security, which has led to increased demand for dark data analytics and hence is anticipated to propel the growth of the dark analytics market during the forecast period. As per the information from the government of India, the cases of cybersecurity in India increased nearly three times compared to 2019, reaching 1.16 million cybersecurity cases in 2020. In May 2021, a data breach of patients' personal information was reported at Mississippi's Coastal Family Health Center (CFHC). The information such as names, addresses, social security numbers, medical insurance information, and health and treatment information was hacked. Such kinds of data breach cases have been increasing over the years, which has led to data security concerns among companies. The untapped dark data when recognized and managed leads to scaling up of the organization's security, which protects that untapped vulnerable data from hackers, which is one of the prominent factors anticipated to drive the adoption of dark analytics in the coming years.
North America to hold a significant market share.
Geographically, the North American region is anticipated to hold a significant market share owing to the presence of market leaders in analytics such as Microsoft Corporation, and Amazon Web Services, among others. Furthermore, the countries in the region are technologically advanced and hence have a higher tendency to adopt new technologies like dark analytics. The Asia Pacific region is anticipated to witness substantial growth during the forecast period due to rising investments in cloud-based solutions and an emerging IT sector. Furthermore, the rising number of analytics start-ups in the region is anticipated to propel the growth of the dark analytics market in the Asia Pacific during the forecast period.
|Market size value in 2019||US$334.468 million|
|Market size value in 2026||US$1776.077 million|
|Growth Rate||CAGR of 26.94% from 2019 to 2026|
|Forecast Unit (Value)||USD Million|
|Segments covered||Analytics Type, Deployment Mode, End-Use Industry, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||IBM Corporation, SAP SE, Amazon, Teradata Corporation, Microsoft Corporation, Dell EMC, AvePoint, Inc., Datameer, Inc., Commvault, Cohesity, Inc., SynerScope|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What is the size of the global dark analytics market?
A1. Dark Analytics Market was valued at US$334.468 million in the year 2019.
Q2. What will be the dark analytics market size by 2026?
A2. The global dark analytics market is projected to reach a market size of US$1776.077 million by 2026.
Q3. What are the growth prospects for the dark analytics market?
A3. The dark analytics market is projected to grow at a CAGR of 26.94% during the forecast period.
Q4. What factors are anticipated to drive the dark analytics market growth?
A4. The rising number of security breaches is one of the prominent factors anticipated to propel the growth of the dark analytics market.
Q5. Which region holds the maximum share of the dark analytics market?
A5. Geographically, the North American region is anticipated to hold a significant share of the dark analytics market.
All our studies come with 2 months of analyst support.
We are in compliance with the global privacy laws.