The data mining tools market size has grown rapidly in recent years. It will grow from $1.02 billion in 2023 to $1.16 billion in 2024 at a compound annual growth rate (CAGR) of 13.4%. The growth observed during the historical period can be attributed to several factors, including increased automation in manufacturing processes, rising labor costs, growth in e-commerce activities, the flexibility of applications, and heightened safety standards.
The data mining tools market size is expected to see rapid growth in the next few years. It will grow to $1.88 billion in 2028 at a compound annual growth rate (CAGR) of 12.9%. The anticipated growth in the upcoming period can be attributed to several factors, including increasing cybersecurity measures in robotics, rapid expansion of the manufacturing industry, growing adoption of Industry 4 technologies, strong government support, and government-driven initiatives. Major trends expected in the forecast period encompass the rise of collaborative robotics (cobots), ongoing product innovation, advancements in technology, integration of artificial intelligence (AI) and machine learning, as well as expansion into new industries.
The increasing adoption of cloud-based solutions is poised to drive the expansion of the data mining tools market in the future. Cloud-based solutions encompass services and applications accessed over the Internet, utilizing remote servers for data storage, management, and processing, offering users flexibility and on-demand access. Data mining tools play a crucial role in boosting the adoption of cloud-based solutions by enabling organizations to extract valuable insights and patterns from extensive datasets, thereby optimizing decision-making processes and enhancing the efficiency of cloud-based applications. For example, as reported by the European Commission (EC) in December 2023, the adoption of cloud-based solutions in the European Union witnessed a notable increase of 4.2% points compared to 2021, with 45.2% of enterprises procuring cloud computing services. This surge underscores the significant role of cloud-based solutions in driving the growth of the data mining tools market.
Key players in the data mining tools market are intensifying their focus on developing advanced software, including data mining software, to gain a competitive advantage. Data mining software is specialized software that employs algorithms and techniques to analyze large datasets, extracting valuable patterns, insights, and knowledge crucial for informed decision-making. For instance, in January 2023, Nextpoint, a US-based software development company, unveiled a new data mining software named Data Mining, which boasts processing speeds 30 times faster for early case assessment and complex data analysis. This software facilitates real-time analysis of large datasets, resulting in a 10-fold reduction in review costs and time.
In September 2022, Altair Engineering Inc., a US-based information technology company, completed the acquisition of RapidMiner for $100 million. This acquisition strengthens Altair's data analytics portfolio, offering advanced solutions and seamless integration with existing tools, thereby empowering a diverse user base to address data analytics challenges more effectively. RapidMiner, a US-based data science platform, analyzes the impact of an organization's data, complementing Altair's data analytics capabilities.
Major companies operating in the data mining tools market report are Microsoft Corporation, Dell Technologies Inc., Intel Corporation, International Business Machines Corporation, Oracle Corporation, SAP SE, Hewlett Packard Enterprise Development LP, Fortinet Inc., SAS Institute, Salford Systems, Teradata, Frontline Systems, Fair, Isaac and Company (FICO), MathWorks, Alteryx, SunTec India, Sisense, Dataiku, Reltio, Minitab LLC, CB Insights, KNIME, Biomax Informatics, BlueGranite Inc., Crunchbase Inc., RockDaisy, Megaputer Intelligence Inc., H2O.ai, Angoss Software Corporation, Splunk.
North America was the largest region in the data mining tools market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the data mining tools market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the data mining tools market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The data mining tools market includes revenues earned by entities by providing services such as predictive analytics, pattern recognition, anomaly detection, machine learning integration, and custom data analysis solutions. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The data mining tools market consists of sales of such as RapidMiner, KNIME, Weka, Orange, and IBM SPSS Modeler. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
Data mining tools are software applications that leverage statistical, mathematical, and artificial intelligence techniques to identify trends, patterns, and insights from large datasets, enabling informed business decisions and extracting valuable knowledge.
The main types of data mining tools are categorized as tools and services. A tool refers to a software application used to aid in accomplishing specific tasks, such as shaping, forming, or finishing materials, or performing a particular operation. These tools can be deployed on-premise or in the cloud and are utilized by various sectors including retail and e-commerce, banking, financial services, insurance (BFSI), government and defense, manufacturing, energy and utilities, education, IT and telecom, healthcare, among others. Both large enterprises and small and medium-sized enterprises (SMEs) utilize these data mining tools.
The data mining tools market research report is one of a series of new reports that provides data mining tools market statistics, including data mining tools industry global market size, regional shares, competitors with a data mining tools market share, detailed data mining tools market segments, market trends and opportunities, and any further data you may need to thrive in the data mining tools industry. This data mining tools market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The data mining tools market size is expected to see rapid growth in the next few years. It will grow to $1.88 billion in 2028 at a compound annual growth rate (CAGR) of 12.9%. The anticipated growth in the upcoming period can be attributed to several factors, including increasing cybersecurity measures in robotics, rapid expansion of the manufacturing industry, growing adoption of Industry 4 technologies, strong government support, and government-driven initiatives. Major trends expected in the forecast period encompass the rise of collaborative robotics (cobots), ongoing product innovation, advancements in technology, integration of artificial intelligence (AI) and machine learning, as well as expansion into new industries.
The increasing adoption of cloud-based solutions is poised to drive the expansion of the data mining tools market in the future. Cloud-based solutions encompass services and applications accessed over the Internet, utilizing remote servers for data storage, management, and processing, offering users flexibility and on-demand access. Data mining tools play a crucial role in boosting the adoption of cloud-based solutions by enabling organizations to extract valuable insights and patterns from extensive datasets, thereby optimizing decision-making processes and enhancing the efficiency of cloud-based applications. For example, as reported by the European Commission (EC) in December 2023, the adoption of cloud-based solutions in the European Union witnessed a notable increase of 4.2% points compared to 2021, with 45.2% of enterprises procuring cloud computing services. This surge underscores the significant role of cloud-based solutions in driving the growth of the data mining tools market.
Key players in the data mining tools market are intensifying their focus on developing advanced software, including data mining software, to gain a competitive advantage. Data mining software is specialized software that employs algorithms and techniques to analyze large datasets, extracting valuable patterns, insights, and knowledge crucial for informed decision-making. For instance, in January 2023, Nextpoint, a US-based software development company, unveiled a new data mining software named Data Mining, which boasts processing speeds 30 times faster for early case assessment and complex data analysis. This software facilitates real-time analysis of large datasets, resulting in a 10-fold reduction in review costs and time.
In September 2022, Altair Engineering Inc., a US-based information technology company, completed the acquisition of RapidMiner for $100 million. This acquisition strengthens Altair's data analytics portfolio, offering advanced solutions and seamless integration with existing tools, thereby empowering a diverse user base to address data analytics challenges more effectively. RapidMiner, a US-based data science platform, analyzes the impact of an organization's data, complementing Altair's data analytics capabilities.
Major companies operating in the data mining tools market report are Microsoft Corporation, Dell Technologies Inc., Intel Corporation, International Business Machines Corporation, Oracle Corporation, SAP SE, Hewlett Packard Enterprise Development LP, Fortinet Inc., SAS Institute, Salford Systems, Teradata, Frontline Systems, Fair, Isaac and Company (FICO), MathWorks, Alteryx, SunTec India, Sisense, Dataiku, Reltio, Minitab LLC, CB Insights, KNIME, Biomax Informatics, BlueGranite Inc., Crunchbase Inc., RockDaisy, Megaputer Intelligence Inc., H2O.ai, Angoss Software Corporation, Splunk.
North America was the largest region in the data mining tools market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the data mining tools market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the data mining tools market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The data mining tools market includes revenues earned by entities by providing services such as predictive analytics, pattern recognition, anomaly detection, machine learning integration, and custom data analysis solutions. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The data mining tools market consists of sales of such as RapidMiner, KNIME, Weka, Orange, and IBM SPSS Modeler. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
Data mining tools are software applications that leverage statistical, mathematical, and artificial intelligence techniques to identify trends, patterns, and insights from large datasets, enabling informed business decisions and extracting valuable knowledge.
The main types of data mining tools are categorized as tools and services. A tool refers to a software application used to aid in accomplishing specific tasks, such as shaping, forming, or finishing materials, or performing a particular operation. These tools can be deployed on-premise or in the cloud and are utilized by various sectors including retail and e-commerce, banking, financial services, insurance (BFSI), government and defense, manufacturing, energy and utilities, education, IT and telecom, healthcare, among others. Both large enterprises and small and medium-sized enterprises (SMEs) utilize these data mining tools.
The data mining tools market research report is one of a series of new reports that provides data mining tools market statistics, including data mining tools industry global market size, regional shares, competitors with a data mining tools market share, detailed data mining tools market segments, market trends and opportunities, and any further data you may need to thrive in the data mining tools industry. This data mining tools market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Data Mining Tools Market Characteristics3. Data Mining Tools Market Trends and Strategies32. Global Data Mining Tools Market Competitive Benchmarking33. Global Data Mining Tools Market Competitive Dashboard34. Key Mergers and Acquisitions in the Data Mining Tools Market
4. Data Mining Tools Market - Macro Economic Scenario
5. Global Data Mining Tools Market Size and Growth
6. Data Mining Tools Market Segmentation
7. Data Mining Tools Market Regional and Country Analysis
8. Asia-Pacific Data Mining Tools Market
9. China Data Mining Tools Market
10. India Data Mining Tools Market
11. Japan Data Mining Tools Market
12. Australia Data Mining Tools Market
13. Indonesia Data Mining Tools Market
14. South Korea Data Mining Tools Market
15. Western Europe Data Mining Tools Market
16. UK Data Mining Tools Market
17. Germany Data Mining Tools Market
18. France Data Mining Tools Market
19. Italy Data Mining Tools Market
20. Spain Data Mining Tools Market
21. Eastern Europe Data Mining Tools Market
22. Russia Data Mining Tools Market
23. North America Data Mining Tools Market
24. USA Data Mining Tools Market
25. Canada Data Mining Tools Market
26. South America Data Mining Tools Market
27. Brazil Data Mining Tools Market
28. Middle East Data Mining Tools Market
29. Africa Data Mining Tools Market
30. Data Mining Tools Market Competitive Landscape and Company Profiles
31. Data Mining Tools Market Other Major and Innovative Companies
35. Data Mining Tools Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Data Mining Tools Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on data mining tools market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
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- Assess the Russia - Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
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- Identify growth segments for investment.
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- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
- Report will be updated with the latest data and delivered to you along with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Description:
Where is the largest and fastest growing market for data mining tools ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The data mining tools market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) By Component: Tools; Services2) By Platform: On-premise; On-cloud
3) By Organization Size: Large Enterprises; Small And Medium-sized Enterprises (SMEs)
4) By End-Use: Retail And E-commerce; Banking, Financial Services, And Insurance (BFSI); Government And Defense; Manufacturing; Energy And Utilities; Education; IT And Telecom; Healthcare; Other End Uses.
Key Companies Mentioned: Microsoft Corporation; Dell Technologies Inc.; Intel Corporation; International Business Machines Corporation; Oracle Corporation
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
- Microsoft Corporation
- Dell Technologies Inc.
- Intel Corporation
- International Business Machines Corporation
- Oracle Corporation
- SAP SE
- Hewlett Packard Enterprise Development LP
- Fortinet Inc.
- SAS Institute
- Salford Systems
- Teradata
- Frontline Systems
- Fair, Isaac and Company (FICO)
- MathWorks
- Alteryx
- SunTec India
- Sisense
- Dataiku
- Reltio
- Minitab LLC
- CB Insights
- KNIME
- Biomax Informatics
- BlueGranite Inc.
- Crunchbase Inc.
- RockDaisy
- Megaputer Intelligence Inc.
- H2O.ai
- Angoss Software Corporation
- Splunk
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 175 |
Published | March 2024 |
Forecast Period | 2024 - 2028 |
Estimated Market Value ( USD | $ 1.16 Billion |
Forecasted Market Value ( USD | $ 1.88 Billion |
Compound Annual Growth Rate | 12.9% |
Regions Covered | Global |
No. of Companies Mentioned | 30 |