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Data Mining Tools Market 2022-2030 - Expected To Create High Demand During The Forecast Period | Reports And Data

Data Mining Tools Market

Data Mining Tools Market

The Data Mining Tools Market size was USD 764.3 Million in 2021 and is expected to register a revenue CAGR of 13.2% during the forecast period.

NEW YORK CITY, NEW YORK, USA, May 11, 2022 /EINPresswire.com/ -- The global Data Mining Tools Market is forecast to reach USD 2,321.3 Million by 2030, according to a new report by Reports and Data. Data Mining is the process of analyzing data from various dimensions, domains, perspectives, and finding the previously used hidden patterns of heterogeneous set of data, to classify and group into the same clusters of data with respect to the identified relationships. Data mining tools help us get the valuable insights from huge amount of data, that is generated every second worldwide by applying data mining algorithms through machine leering, statistics, artificial intelligence, and visualizations in quick time. The global market is growing predominantly as the amount of data every second is being drastically elevated globally. SMEs are expected to contribute remarkably in the forecast period due to a massive adoption of the data mining tools for their relational, transactional and heterogeneous databases. Sales & marketing sub-segment in the business application has the highest usage of these tools and is also calculated to achieve the highest growth rate.

APAC is forecasted to achieve the fastest growth of about 14.1% in the period 2021 – 2030, due to an increase in adoption of the data mining tools in SMEs of all the industries in the countries like China, Singapore, and India. North America holds the highest market share of 37.6% in 2018 because of the prodigious rate of deployment of the data mining solutions in the conglomerates.

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Market Overview:

The global Data Mining Tools market is expected to account for robust revenue share over the forecast period owing to factors such as rapidly evolving ICT sector, increasing deployment of ICT devices and services in commercial, industrial as well as residential settings, and high focus on developing advanced products. ICT services are significantly gaining traction in various sectors including agriculture, healthcare and pharmaceutical, IT, and BFSI. Other factors such as increasing adoption of cloud based services, rising concerns about data security and large data management, growing demand for smartphones, computers, laptops and rising disposable income are expected to fuel global market revenue growth during the forecast period.

Competitive Landscape:

The report also focuses on details of each market player including its global position, financial standing, company overview, product & service portfolio, and revenue generation. The global Data Mining Tools market is extremely competitive and consists of several key players at regional and global level. These players are focusing on various strategies such as investments in R&D, new product launches, mergers and acquisitions, partnerships, joint ventures and collaborations to strengthen their market position.

Leading companies operating in the market are:
• Microsoft Corporation
• Intel Corporation
• International Business Machines Corporation
• Oracle Corporation
• Others

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Global Data Mining Tools Market Segmentation:

By Component Type:
• Tools
• Services
By Service Type:
• Managed Services
• Consulting & Implementation
• Others
By Organization Size:
• Small and Medium-Sized Enterprises (SMEs)
• Large Enterprises
By End-use:
• Retail
• Banking, Financial Services, and Insurance (BFSI)
• Healthcare and Life Sciences
• Telecom and IT
• Government and Defense
• Energy and Utilities
• Manufacturing
• Others

Regional Outlook:

The report offers in depth analysis of leading regions categorized into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.

Regional Analysis covers:

• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o Italy
o U.K.
o Rest of EU
• Asia Pacific
o India
o China
o Japan
o South Korea
o Rest of APAC
• Latin America
o Brazil
o Argentina
o Rest of Latin America
• Middle East & Africa
o Saudi Arabia
o South Africa
o U.A.E
o Rest of MEA

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Key questions addressed in the report:
• What are the key outcomes of Porter’s Five Force analysis?
• What CAGR is the global Data Mining Tools market expected to register during the forecast period?
• Who are the key players operating in the global Data Mining Tools market?
• What are the key factors that are expected to boost market growth between 2021 and 2028?
• Which key factors are expected to hamper overall market growth?
• What is the expected market size of Data Mining Tools market between 2021 and 2028?

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About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

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Reports and Data
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