Business Analytics Software Market by Component (Software and Service), Deployment Model (Cloud and On-premise), Application (Customer Analytics, Supply Chain Analytics, Marketing Analytics, Pricing Analytics, Risk & Credit Analytics, and Others), Enterprise Size (Large Enterprises and SMEs), and Industry Vertical (IT & Telecom, Retail & E-Commerce, BFSI, Manufacturing, Healthcare, Government, Education, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030
Business analytics software uses statistical tools and methodologies to conduct predictive analysis in order to obtain decision-making inputs and insights from business performance data. It analyzes business data and information by conducting ongoing investigations and explorations of historical business performance data in order to derive actionable insights for business planning. Business analytics software aids in the optimization of business operations and the facilitation of strategic decision-making for an organization. Financial analysts, managers, security workers, and key decision makers in corporations mostly use the outputs. The popularity of cloud-based business analytics software has grown among small and medium-sized businesses, owing to its low cost and ease of use.
The growth of the global business analytics software market is driven by factors such as increase in adoption of business analytics software by multiple organizations and surge in demand for cloud-based business analytics software among SMEs. In addition, rise in awareness regarding numerous benefits provided by business analytics solutions and worldwide acceleration of digital transformation in enterprises due to COVID-19 outbreak fuels growth of the market. However, high implementation costs of business analytics software and lack of skilled workforce limit the growth of this market. Conversely, emerging trends such as social media analytics & text analytics and increase in need to gain insights for business planning are expected to provide numerous opportunities for the expansion of the market during the forecast period.
The global business analytics software market is segmented into component, deployment model, application, organization size, end user, and region. Depending on component, the market is bifurcated into software and service. On the basis of deployment model, it is segregated into on-demand/cloud and on-premise. The applications covered in the study include customer analytics, supply chain analytics, marketing analytics, pricing analytics, risk & credit analytics, and others. By organization size, the market is fragmented into large enterprises and small- & medium-sized enterprises. As per end user, it is differentiated into IT & telecom, retail & E-commerce, BFSI, manufacturing, healthcare, government, education, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global business analytics software market is dominated by key players such as Adobe, Fair Isaac Corporation, Google LLC., IBM Corporation, Microsoft Corporation, Oracle Corporation, Qlik, Salesforce.com, Inc., SAP SE, and SAS Institute Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
KEY BENEFITS FOR STAKEHOLDERS
The study provides an in-depth analysis of the global business analytics software market forecast along with the current & future trends to explain the imminent investment pockets.
Information about key drivers, restraints, & opportunities and their impact analysis on global business analytics software market trends is provided in the report.
Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
The quantitative analysis of the market from 2021 to 2030 is provided to determine the market potential.
Key Market Segments
By Component
Software
Service
By Deployment Mode
On-premise
Cloud
By Application
Customer Analytics
Supply Chain Analytics
Marketing Analytics
Pricing Analytics
Risk & Credit Analytics
Others
By Organization Size
Large Enterprises
Small- & Medium-sized Enterprises
By End User
IT & Telecom
Retail & E-commerce
BFSI
Manufacturing
Healthcare
Government
Education
Others
By Region
North America
U.S.
Canada
Europe
UK
Germany
France
Rest of Europe
Asia-Pacific
China
Japan
Australia
India
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
KEY MARKET PLAYERS
Adobe
Fair Isaac Corporation
Google LLC.
IBM Corporation
Microsoft Corporation
Oracle Corporation
Qlik
Salesforce.com, Inc.
SAP SE
SAS Institute Inc.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook