Cloud-based business analytics software conducts predictive analysis to derive decision making inputs and insights through the application of statistical tools and methods in business performance data. It analyses business data and information through continuous investigation and exploration of historical business performance to obtain decisive insights for business planning. Cloud-based business analytics software helps an organization to optimize business operations and facilitates strategic decision making. The outputs are mostly used by financial analysts, managers, security personnel, and key decision makers of organizations.
Increase in adoption of these software by many organizations to gain strategic and competitive advantage over their competitors drive the market. In addition, ability of cloud-based business analytics software to help make proper business-related decisions and also to provide competitive advantage by analyzing and acting upon information in a timely manner propels the growth of the market. However, insufficient volume of meaningful data in small and medium size businesses and lack of skilled and proficient workforce limits the growth of the market. Furthermore, development of trends such as social media analytics and text analytics as well as increase in need to gain insights for business planning is expected to provide numerous growth opportunities for the market.
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The global cloud-based business analytics software market is segmented into deployment model, end user, and application. Based on deployment model, the market is divided into private, public, and hybrid. The end user segment covered in this study includes IT & telecom, retail, BFSI, manufacturing, and others. By application, the market is classified into customer analytics, supply chain analytics, marketing analytics, pricing analytics, and others. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The passage highlights the trend of governmental organizations increasing their maintenance budgets for system infrastructure while also investing in initiatives for project development, modernization, and enhancement. This has led to the success of investments and an increase in the annual funding set aside by ICT vendors for the growth of the online market. The passage also mentions the anticipated increase in global ICT exports, which are expected to rise by an average of 3.9% yearly from US$ 784.3 billion in 2021 to US$ 955.19 billion in 2030. The global supply of ICT has increased by 9.5% yearly since 2009.
In terms of global ICT exports in 2021, Ireland ranked first with US$ 169.32 billion, followed by the United States at number 2, India at number 3, and China at number 4. The passage also notes the significant increase in Brunei’s global ICT exports by 228.2% year over year since 2009, while Sierra Leone’s global ICT exports have decreased by 61.7% year over year in the same period. Overall, the passage highlights the growth and potential of the global ICT market, driven by increased investments and funding for infrastructure and project development.
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It seems that the ICT industry in Europe is predicted to experience moderate growth in the coming years, with an annual increase of 1.5% expected from 2021 to 2026. Germany currently holds the top position in terms of ICT revenue in Europe, followed by the United Kingdom, France, and Ireland. It’s interesting to note that while some countries like Malta have experienced significant growth in the ICT industry since 2016, others like Italy have seen a slight decline. This information can be useful for businesses and investors looking to enter or expand in the European ICT market.
KEY BENEFITS FOR STAKEHOLDERS
>The study provides an in-depth analysis of the global cloud-based business analytics software market and current & future trends to elucidate the imminent investment pockets.
>Information about key drivers, restrains, and opportunities and their impact analysis on the market size is provided.
>Porter’s Five Forces analysis illustrates the potency of buyers and suppliers operating in the industry.
>The quantitative analysis of the global market from 2016 to 2023 is provided to determine the market potential.
KEY MARKET PLAYERS
>Oracle Corporation
>SAS Institute Inc.
>SAP SE
>International Business Machines (IBM) Corporation
>Microsoft Corporation
>Adobe Systems Incorporated
>Tableau Software.
>Salesforce.com, Inc.
>QlikTech International AB
>Fair Isaac Corporation
KEY MARKET SEGMENTS
BY DEPLOYMENT MODEL
>Private Cloud
>Public Cloud
>Hybrid Cloud
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BY END USER
>IT & Telecom
>Retail
>BFSI
>Manufacturing
>Others
BY APPLICATION
>Customer Analytics
>Supply Chain Analytics
>Marketing Analytics
>Pricing Analytics
>Others
BY REGION
>North America?U.S.
?Canada
?Mexico
>Europe?UK
?Germany
?France
?Rest of Europe
>Asia-Pacific?China
?Japan
?India
?Australia
?Rest of Asia-Pacific
>LAMEA?Latin America
?Middle East
?Africa
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
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