Report Ocean has released a market research report on the Business Analytics Software industry, covering 150+ countries and analyzing over 1,00000 published and forthcoming reports per year. The report, prepared by subject matter experts, researchers, and market research professionals, utilizes various methodologies and analytical approaches, including S.W.O.T. and P.E.S.T.E.L. analysis and regression analysis, to forecast market growth. It also examines the industry’s regulations and policies and potential future advancements.
The global business analytics software market size was US$ 68.0 billion in 2021. The global business analytics software market size is forecast to reach US$ 178.2 billion by 2030, growing at a compound annual growth rate (CAGR) of 11.3% during the forecast period from 2022 to 2030.
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Business analytics software facilitates the analysis and interpretation of business data by allowing ongoing research and investigation of past business performance to gain actionable insights for future business strategies. The tool provides real-time decision-making assistance by enabling the discovery of patterns and linkages among data streams and the automated execution of tasks and processes.
Factors Influencing Market Growth
- Small and medium-sized businesses find cloud-based business analytics software to be highly beneficial due to its low cost and ease of use. A subset of business analytics called social media analytics has gained considerable popularity as social media marketing grows in popularity, driving the global market.
- A surge in cloud-based business analytics software demand among SMEs and widespread adoption of business analytics software among organizations drive the growth of the business analytics software market.
- The high costs of implementation of business analytics software and the lack of a skilled workforce may slow down the growth of the global market.
- The emergence of social media analytics and text analytics, coupled with an increasing need to gain insights for business planning, is forecast to provide numerous growth opportunities for the market during the forecast period.
Impact Analysis of COVID-19
The implementation of work-from-home policies worldwide has resulted in a demand for cloud-based Big Data analytics to manage crucial information, presenting a potential market opportunity. In addition to the need to manage the data generated by various industries, growth in the volume of data generated drove the market for business analytics software. Furthermore, many governments have implemented Big Data analytics to update real-time data from COVID-19 and make actionable insights from it. Moreover, Big Data analytics has enabled researchers, healthcare professionals, and scientists to aggregate and synthesize incident data on a regular basis and globally. As a result, these factors positively affected the global market growth during the COVID-19 outbreak.
Regional Insights
North America held the majority share of the business analytics software market in 2021 and is forecast to retain its position during the forecast period. Due to the abundance of business analytics solutions vendors such as Microsoft Corporation, Oracle Corporation, Salesforce.com, Inc, and others, the business analytics software market continues to grow.
During the forecast period, Asia Pacific is forecast to experience significant growth. Due to the fact that most companies in Asia-Pacific emphasize improving management and increasing efficiency to remain competitive.
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Leading Competitors
The leading prominent companies profiled in the global business analytics software are:
- Adobe
- Fair Isaac Corporation
- Google LLC.
- IBM Corporation
- Microsoft Corporation
- Oracle Corporation
- Qlik
- Salesforce.com, Incorporated
- SAP SE
- SAS Institute Incorporated
- Other Prominent Players
Scope of the Report
The global business analytics software market segmentation focuses on Component, Deployment Mode, Application, Organization Size, End-User, and Region.
Segmentation based on Component
- Software
- Service
Segmentation based on Deployment Mode
- On-premise
- Cloud
Segmentation based on Application
- Customer Analytics
- Supply Chain Analytics
- Marketing Analytics
- Pricing Analytics
- Risk & Credit Analytics
- Others
Segmentation based on Organization Size
- Large Enterprises
- Small- & Medium-sized Enterprises
Segmentation based on End-User
- IT & Telecom
- Retail & E-commerce
- BFSI
- Manufacturing
- Healthcare
- Government
- Education
- Others
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Segmentation based on Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
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
What our reviews offer:
- Market share assessments for the regional and country-level segments
- Strategic hints for the new entrants
- Covers market facts for 2023, until 2031
- Market tendencies (drivers, opportunities, threats, challenges, funding opportunities, and recommendations)
- Strategic pointers in key enterprise segments based totally on the market estimations
- Competitive landscaping mapping the key frequent trends
- Company profiling with specified strategies, financials, and current developments
- Supply chain tendencies mapping the modern day technological advancements
Business Analytics Software Market Research Report Scenario includes:
>The report provides qualitative and quantitative trends of global Business Analytics Software Market across type, type of products, service, and geography.
>The report starts with the key takeaways, highlighting the key trends and outlook of the global Business Analytics Software Market.
>Provides the research methodology of the study.
>Further provides PEST analysis for each region.
>Highlights the key industry dynamics in the Business Analytics Software Market, including factors that are driving the market, prevailing deterrent, potential opportunities as well as future trends. Impact analysis of these drivers and restraints is also covered in this section.
>Discusses the global Business Analytics Software Market scenario, in terms of historical market revenues, and forecast till the year 2031.
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