Global Business Analytics Market was valued at US$ 10 Bn in 2019 and is expected to reach US$ 32 Bn by 2026, at a CAGR of 15.65% during the forecast period.
The report includes an analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.
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Global Business Analytics Market Dynamics:
The rate of production of data from user devices, like mobiles, tablets, and laptops is rising exponentially in line with the growth in the major end-user segments, trends, like online shopping, data from kiosks at malls and fuel stations are also increasing because of rising in the purchasing power of customers. This is directed to huge amounts of data to be processed for businesses to recognize user behaviour and make customized products to gain market share and value.
Companies are increasingly dependent on technology to increase competitive advantage over competitors. Sales and marketing teams are projected to continue to keep track of their customers using CRM solutions which collect data from social media and other varied sources and present them in an actionable way to the users. The emergence of social media is playing a major role in this regard, as firms are mandatory to adopt a consumer-centric approach, by actively taking feedback and designing movements using business analytics. With the rising growth of IoT, the data produced and requirements for business analytics are further estimated to increase.
Factors that are influencing the market growth contain rising demand for analytics by the organizations owing to the growing big data trend, quickly changing business environment, and customer choices. Still, high execution costs and unwillingness to acceptance of business analytics are some factors limiting the growth of the market. Also, the lack of skilled workers with sound technical capabilities poses a major challenge to the market.
Among applications, banking, financial services & insurance (BFSI), and retail industries holding the largest market share. Tableau is the fastest growing business analytics software company, growing around 90% in a year. North America held the largest market share as this region encourages the implementation of business analytics across its various organizations followed by Europe. The Asia Pacific is widely witnessing a rise in the adoption of business analytics.
Business analytics software is helping in interpretation and analysis of business data over continuous exploration and examination of historical business performance to gain significant insights for business planning, by the application of statistical methods and tools in business performance data, a business analytics software is conducting predictive analysis to originate decision-making insights and inputs.
So, the business analytics software is helping an organization to improve its business operations and enables informed and strategic decision-making. It is also helping uncover patterns and relationships in data streams and leads to the automation of tasks and procedures for real-time responses in decision-making. Outputs are mostly used by managers, security personnel, financial analysts, and key decision-makers of the association.
Demand for cloud-based business analytics software is highly increasing in small and medium-sized enterprises due to its low-cost and improved usability. Also, demand for social media analytics, a part of business analytics, is rising significantly because of the increase in popularity of social media marketing.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data, and projections with a suitable set of assumptions and methodology. The report also helps in understanding Business Analytics market dynamics, structure by identifying and analyzing the market segments and project the global market size.
Further, the report also focuses on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to emerging segment in the Business Analytics market.
Global Business Analytics Market, Key Highlights:
• Global Business Analytics Market analysis and forecast, in terms of value.
• Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Global Business Analytics Market
• Global Business Analytics Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.
• Global Business Analytics Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.
• Global Business Analytics Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.
• Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.
• Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Global Business Analytics Market are also profiled.
The report has considered the base year of 2019 and past four years trend. 2020 figures are at actuals, however due to different dynamics of year 2020, market forecast is not only dependent upon 2020, but on the basis of 2016-2020.
Scope of the Global Business Analytics Market: Inquire before buying
Global Business Analytics Market by Deployment Type:
• On-site
• Cloud
Global Business Analytics Market by Application:
• Telecom and IT
• Retail
Global Business Analytics Market by Software:
• Search And Altering
• Advanced And Predictive Analytics
• Other
Global Business Analytics Market by Service:
• Managed Services
• Professional Services
Global Business Analytics Market by Geography:
• North America
• Asia-Pacific
• Europe
• Latin America
• Middle East & Africa
Global Business Analytics Market Key Players
• IBM
• Infor
• Tibco Software, Inc.
• Microsoft Corporation
• Microstrategy Incorporated
• Oracle Corporation
• QLIK Technologies, Inc.
• SAP SE
• SAS Institute, Inc.
• Tableau Software, Inc.
• Adobe Systems Incorporated
• International Business Machines Corporation
• Fair Isaac Corporation
• Amazon Web Services
• Teradata Corporation
• Salesforce.com Inc.
• SAS Institute Inc.
• Cloudability, Inc.
• Densify, Inc.
• Maxpanel Inc.
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Global Business Analytics Market was valued at US$ 10 Bn in 2018 and is expected to reach US$ 32 Bn by 2026, at a CAGR of 15.65 % during forecast period.Global Business Analytics Market by Deployment Type Rate of production of data from user devices, like mobiles, tablets, and laptops is rising exponentially in line with the growth in the major end-user segments, trends, like online shopping, data from kiosks at malls and fuel stations are also increasing because of rise in the purchasing power of customers.
This is directed to huge amounts of data to be processed for businesses to recognize user behavior and make customized products to gain market share and value.Companies are increasingly dependent on technology to increase competitive advantage over competitors.
With the rising growth of IoT, the data produced and requirement for business analytics are further estimated to increase.Factors which are influencing the market growth contains rising demand for the analytics by the organizations owing to the growing big data trend, quickly changing business environment and customer choices.
Also, lack of skilled workers with sound technical capabilities poses major challenge to the market.Amongst applications, Banking, financial services & insurance (BFSI) and retail industries holding the largest market share.
Asia Pacific is widely witnessing rise in the adoption of business analytics.Business analytics software is helping in interpretation and analysis of business data over continuous exploration and examination of historical business performance to gain significant insights for business planning, by the application of statistical methods and tools in business performance data, a business analytics software is conducting predictive analysis to originate decision making insights and inputs.
It is also helping uncover patterns and relationships in data streams and leads to automation of tasks and procedures for real-time responses in decision making.
Global Business Analytics Market Research Report, By Software (Predictive Analytics, Content Analytics, Data Discovery and Visualization Software), Industry (BFSI, Education, Government), Organisation size (Large-Scale Enterprise) — Forecast till 2023Market HighlightsBusiness analytics tools, much like advanced and predictive analysis, are currently trending in the market.
The growing need for data visualization and discovery due to the increasing amount of digital data is driving the growth of business analytics market.
Growing adoption of smartphones and increase in the amount of time spent on smartphones by consumers has led to generation of valuable user data for businesses to benefit from.Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/6698Industry newsSeptember 2018, Qlik announced the release of Qlik core — the company’s platform for building new classes of data-driven applications, leveraging the Qlik Associative Engine.
The product features include a complete set of APIs, open source libraries, increased flexibility, and built-in support for Amazon Web Services among others.Key PlayersCloudability, Inc.(US), Densify, Inc.(Canada), EXPONEA (UK), Google LLC (US), International Business Machines Corporation (IBM) (US), Mixpanel, Inc. (US), PanTerra Networks, Inc. (US), SAP SE (Germany), SAS Institute, Inc. (US), Tableau Software, Inc. (US), Teradata Corporation (US), INFOR (US), Microstrategy Incorporated (US), Oracle Corporation (US), Adobe Systems Incorporated (US), Salesforce.com (US), Qlik Technologies, Inc. (US), Microsoft Corporation (US), Tibco Software (US), Fair Isaac Corporation (US), JDA Software Group, Inc. (US) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global business analytics market.Regional AnalysisThe regional analysis of the global business analytics market is done for North America, Europe, Asia-Pacific, and RoW.North America is expected to dominate the business analytics market during the forecast period.
The growing technological advancement and increase in amount of digital data generated by tech giants in countries like the US is driving the growth of the business analytics market in this region.
Additionally, the growing need for risk management software by multiple businesses is contributing to the market growth.Europe is expected to contribute significantly to the growth of business analytics market during the forecast period.
