Business Analytics Market:
Growth opportunities in the Business Analytics market look promising over the next six years. This is mainly due to the proper implementation of analytics, rising usage of real-time analytics to improve the efficiency of the business, and the growing number of solutions for SMEs and large enterprises.
Business Analytics Industry Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
Various changes in the business landscape are encouraging organizations to opt for business analytics to enhance business models and outcomes based on previous trends and information. Over the past few years, there has been an era of business disruptions and corporate advancements, which has increased the demand for business analytics solutions. Organizations are using real-time analytics use to increase the efficiency of the business. Amazon gleans over 2,000 historical and real-time data points on order and leverages machine learning algorithms for transactions with an elevated likelihood of being fraudulent.
The uninterrupted industrial innovations, which include mobility cloud, vendors are providing hosted solutions to increase productivity in a cost-efficient manner. Various cloud service providers have provided improved solutions to meet the requirement of SMEs and larger enterprises. For example, IBM is offering cloud analytics services that supports smarter decisions and help in transforming the business. Therefore, the proper implementation of analytics is one of the emerging business analytics market trends that is further increasing the demand for business analytics solutions. Various startups have revamped data management processes to automate the process of data management and have optimized the course of further analysis. With salesforce.com successfully acquired Tableau, the latter in September 2019, introduced new Data Management capabilities with Tableau Catalog while launching its Server Management Add -On. This will further surge the growth of the business analytics market share over the coming years.
Component Drivers
On the basis of component coverage, software is projected to witness a faster CAGR over the forecast period. The software helps in the smooth delivery of insights regarding any business queries and comprehend and analyses them. Thus, analytics plays an important role in improving structural efficiency and optimizing resources. Oracle, IBM, and SAP are the top organizations that are in this segment and providing various business analytics solutions to capture the increasing demand.
Business Analytics Market’s Leading Manufacturers:
- Oracle
- IBM
- SAP
- Microsoft
- TIBCO Software Inc.
- SAS Institute, Inc.
- MICROSTRATEGY INCORPORATED.
- Qlik
- com, inc.
Business Analytics Market Segmentation:
Segmentation by Component:
- Software
- Services
Segmentation by Enterprise Size:
- Small and Medium Enterprises
- Large Enterprises
Segmentation by Industry Vertical:
- Telecom & IT
- Retail
- Media and Entertainment
- Manufacturing
- Healthcare
- Energy and Power
- Education
- BFSI
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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