Business Analytics Market Research Report - Global Forecast to 2027

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 2027

ID: MRFR/ICT/5235-HCR | February 2021 | Region: Global | 100 pages         

Business Analytics Market Overview:


According to Business Analytics Market Report, the Business Analytics Market is expected to grow at a CAGR of 10% during the forecast period (2018-2023). As the previous report says, the global business analytics market had shown strong growth during the historic period. Therefore, significant growth is what the market is looking forward to. BA or Business Analytics is the process of methodological study of any organisational data. The iterative study is covered through mainly operational and statistical analysis. The process primarily uses data mining, data aggression, data visualisation, text mining, association and sequence identification. The organisations largely use the Business Analytics tool to understand complex data sets, micro-segment the data and underlying patterns; it also uses the tool to conduct query reporting, location intelligence, predictive analysis, data warehouse, content analysis and enterprise performance.


This report comprises of market dynamics as in market derivers, opportunities, restrains and challenges as well as market segmentations. Each market segment has a detailed discussion in the report along with the regional analysis of the Business Analytics Market. The report also highlights the key players of the market, their contribution and recent developments in the segment.


Business Analytics Market Covid-19 impact:


The pandemic covid-19 has been affecting the global economical market. It has negatively impacted most industries; some industries have also collected benefits from the new situation. To keep the outbreak as minimal as possible, governments are forced to lock down for uncertain time periods, forcing organisations to adapt digitalisation rapidly. The more everything gets digital, the more businesses will generate digital data, which will be a boon to the Business Analytics Market Sales. Moreover, the report has been made keeping all the direct and indirect influences of the pandemic and its different effects on different end-users.


Business Analytics Market Dynamics:



  • Drivers:


Based on Business Analytics Market Analysis, the main driving forces behind the market are the increasing amount of Smartphone adoption and fuelling the growth of the data-driven business.



  • Challenges:


Enterprises continuously storing data on-premise rather than the cloud is a challenging factor for the market to grow.



  • Restrains:


The restraining factor of the market growth can be the lack of knowledge of BA or Business Analytics. The reluctance in the adoption of BA is also holding back the growth of the market.



  • Opportunities:


The rapid increase in adopting the analytics platform for cloud deployment is going to create new opportunities in the global market of Business Analytics. Additionally, the active business marketplaces being active are also expected to create new opportunities in the market for BA solution providers offering tools capable of providing better and faster insights.



  • Cumulative Growth Analysis:


Business generating digital data is the leading factor behind the growth of the global market of Business Analytics. Businesses are rapidly adopting business analytics tools to improve their businesses with a better understanding of the customers. They want to limit their assessment to the forecast period and go forward with previous data analysis, selling patterns and better understand operations and end-user requirements. As the enterprises are generating a large amount of digital data, it also faces the need for cost and time efficiency and performance management. Therefore, the business analytics tools arise, which is the leading reason behind the Business Analytics Market Growth. According to the Business Analytics Market Forecast, it is anticipated to grow at a CAGR of 10% during the forecast period. Steady and strong growth is expected, keeping the growth of the historic period insight.


Business Analytics Market Segmentation Overview:


Globally, the Business Analytics Market Segments are based on the following parts-



  • Deployment

  • Industry

  • Software

  • End-user

  • Application

  • Service

  • Region


By Deployment:


Based on deployment, the global market of business analytics is further segmented into-



  • On-cloud

  • On-premise


By Industry:


Based on industry, the global market of business analytics is further segmented into-



  • Retail

  • Telecom and IT

  • Media & Entertainment

  • Healthcare

  • Manufacturing

  • Energy and power

  • Government

  • BFSI

  • Education

  • Others


By Software:


Based on software, the global market of business analytics is further segmented into-



  • Advanced and predictive analytics

  • Content analytics

  • Data discovery and visualisation software

  • Corporate performance management suites

  • Data warehousing platform

  • Location intelligence

  • Others


By End-user:


Based on end-user, the global market of business analytics is further segmented into-



  • Large scale enterprises

  • SMEs (small & medium scale enterprises)


By Application:


Based on application, the global market of business analytics is further segmented into-



  • Finance analytics

  • Supply chain analytics

  • Marketing analysis

  • Data mining

  • Others


By Service:


Based on service, the global market of business analytics is further segmented into-



  • Professional service

  • Managed service


By Region:


Based on region, the global market of business analytics is further segmented into-



  • North America (US, Canada & Mexico)

  • Europe (UK, Germany, France, Italy, Turkey and Russia etc.)

  • Asia Pacific (Japan, China, Korea, India, Indonesia, Thailand, Australia, Philippines, Vietnam and Malaysia)

  • South America (Argentina, Brazil, Columbia etc.)

  • The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)


Business Analytics Market Regional Analysis:


The global market of Business Analytics is divided into five major parts- North America, Europe, Asia Pacific, South America and MEA.


As far as the regional Business Analytics Market Profit is concerned, North America is anticipated to witness the highest growth during the forecast period. It has one of the largest market shares for technology and digitalisation. North America has constantly been a prominent player in implementing new and updated technologies, which drives the market growth by creating demand for data tracking patterns that helps in taking strategic decisions. The United States is the dominating region of the North American market of business analytics.


After North America, the Asia-Pacific region is also emerging as a strong region with many prominent key players in the market. The increasing adoption of smartphones and growing data-driven businesses are hugely leading the market growth of the region.


Business Analytics Market Competitive Landscape:


The industry's competitive landscape has been evaluated, focusing on the major key players and their actions, developments, and investments. Some of the prominent key players are- Google LLC, Cloudability, EXPONEA, Densify, INC. etc.


Business Analytics Market Major Key Players:


There are many major contributors to the Business Analytics Industry who have been significant contributors to the market. Here is a list of some of the prominent players of the market-



  • Cloudability, Inc. (US)

  • EXPONEA (UK)

  • Densify, Inc. (Canada)

  • Google LLC (US)

  • Mixpanel, Inc. (US)

  • International Business Machines Corporation (IBM) (US)

  • SAS Institute, Inc. (US)

  • SAP SE (Germany)

  • Tableau Software, Inc. (US)

  • Microstrategy Incorporated (US)

  • Teradata Corporation (US)

  • Oracle Corporation (US)

  • com (US)

  • Adobe Systems Incorporated (US)

  • Qlik Technologies, Inc. (US)

  • Tibco Software (US)

  • Microsoft Corporation (US)

  • Fair Isaac Corporation (US)

  • JDA Software Group, Inc. (US)


Report Overview:


The report comprises of:



  • Market Overview

  • Covid-19 Impact

  • Market Dynamics

  • Drivers

  • Challenges

  • Restrains

  • Opportunities

  • Technological Analysis

  • Segmentation Overview

  • Regional Analysis

  • Competitive Landscape

  • Recent Developments

  • Major Key Players



Report Scope:
Report Attribute/Metric Details
  Market Size   Significant Value
  CAGR   10%
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Software, Organisation size
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Cloudability, 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)
  Key Market Opportunities

  • The increase in adoption of analytics platform for cloud deployment can be considered as a driving factor behind the growth of business analytics market.
  • Availability of active marketplaces of businesses is projected to create new opportunities for business analytics solution providers to offer tools that provide better and faster insights.
  •   Key Market Drivers   The growing adoption of smartphones and growth in data driven business are driving the growth of the business analytics market in this region.


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    Frequently Asked Questions (FAQ) :

    Deployment, industry, software, end-user, application, service are the main segments.

    Oracle Corporation (US) and Adobe Systems Incorporated (US) are the main key players investing largely in the Global Business Analytics Market.

    The market’s expectation on the parameters of growth in the future is to gain higher valuation at a substantial CAGR.

    The upward volume of digital data generated by businesses has risen the growth of the business analytics market.

    Google LLC (US), Densify, Inc.(Canada), Cloudability, Inc.(the US), EXPONEA (UK) are the top four key players investing in the market’s growth process.

    Development in business analytics tools due to the development in AI and predictive analytics has led to growth in business analytics market. The emergence of smart data discovery capabilities, machine learning and automation of the entire analytics workflow has led to reduction of time for deriving insights and has made it easier to distribute the data analytics workload among a broader set of people.

    Business analytics encompasses methodologies from applied mathematics, applied probability, applied statistics, computer science, and signal processing for using data to gain insights into business performance and drive business planning.