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 data to obtain decisive insights for business planning.
A 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. The demand for cloud-based business analytics software is increasing among small- & medium-sized enterprises due to its low cost and enhanced usability. The growth of the business analytics software market is driven by increase in adoption of predictive analytics software by large & small organizations to gain strategic and competitive advantage over competitors. In addition, ability of business analytics software to deliver better & faster decision-making and to provide competitive advantage by analyzing and acting upon information in a timely manner propel the growth of the market.
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However, budget constraints in small- & medium-sized businesses to provide effective data warehousing and lack of skilled and proficient workforce limit the growth of this market. Conversely, emerging trends such as social media analytics & text analytics and increase in future need to gain insights for business planning are expected to provide numerous opportunities for this market to grow.
The global business analytics software market is segmented on the basis of end user, deployment model, application. End user segment covered in this study include information and IT & telecom, retail, BFSI, manufacturing, and others. Based on deployment model, the market is segmented into on-demand/cloud and on premise. On the basis of application, the market is categorized into customer analytics, supply chain analytics, marketing analytics, pricing analytics, and others. Geographically, 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 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 Corporatio
KEY MARKET SEGMENTS
BY DEPLOYMENT MODEL
On-demand/Cloud
On-premise
BY END-USER
IT & Telecom
Retail
BFSI
Manufacturing
Others
BY APPLICATION
Customer Analytics
Supply Chain Analytics
Marketing Analytics
Pricing Analytics
Others
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BY GEOGRAPHY
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Rest of Europe
Asia-Pacific
China
Japan
India
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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