Business Analytics Market Size, Growth, Share, Trends and Forecast by 2025

Press Release:

Global Business Analytics Market to Exhibit Strong Growth During 2020-2025, Impelled by Growing Adoption of Big Data

*As the coronavirus disease (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Business Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025

The global business analytics market is currently witnessing strong growth. Business analytics (BA) is the iterative and methodical study of organizational data through statistical and operational analysis. It utilizes data aggregation, data mining, text mining, data visualization, association and sequence identification. The BA analytical tools are commonly used by organizations to conduct query reporting, predictive analysis, location intelligence, content analysis, data warehousing and enterprise performance management and to understand complex data sets, underlying patterns and micro-segment the data. They also incorporate the principles of information systems, deep learning and artificial intelligence (AI) to provide an accurate analysis. Based on those predictions, innovative solutions to business problems are formulated to give organizations a competitive edge and make data-driven decisions.

The emergence of the Internet of Things (IoT)-enabled technologies and big data, along with the increasing adoption of cloud computing by organizations, is among the key factors driving the growth of the market. Enterprises are generating large quantities of digital data which employ business analytics tools for better understanding of the operations and requirements of their end users. Furthermore, cloud-enabled BA tools aid in the real-time analysis of data with enhanced cost and time efficiency coupled with performance management, optimization of resources and overcoming organization challenges, which is boosting the demand for BA across the globe. Additionally, growing demand from small and medium-sized enterprises (SME) is another factor contributing to the market growth. These enterprises are employing advanced tools such as descriptive, diagnostic and predictive BA, instead of the conventionally used spreadsheet modeling and manual calculations. Moreover, the increasing usage of BA by finance-based security agencies for inspection, monitoring and preventing fraudulent activities related to large-value accounts, is projected to drive the market further. Other factors contributing to the market growth include thriving banking and finance services industry and growing retail and e-commerce sector. Looking forward, IMARC Group expects the global business analytics market to continue its strong growth during 2020-2025.

Breakup by Software:

Query, Reporting and Analysis Tools
Advanced and Predictive Analytics
Location Intelligence
Content Analytics
Data Warehousing Platform
Others

Breakup by Deployment Type:

Cloud-based
On-Premises

Breakup by End-User:

Large Enterprises
Small and Medium Size Enterprises

Breakup by Vertical:

BFSI
Energy and Power
Manufacturing
Healthcare
Government
Education
Media and Entertainment
Telecom and IT
Others

Breakup by Region:

North America
- United States
- Canada
Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
Latin America
- Brazil
- Mexico
- Others
Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined with some of the key players being Adobe Systems Incorporated, International Business Machines (IBM) Corporation, Microsoft Corporation, Microstrategy Incorporated, Oracle Corporation, Salesforce.com Inc., SAP SE, SAS Institute Inc., Tableau Software, Tibco Software Inc., etc.

Key Questions Answered in This Report:

How has the global business analytics market performed so far and how will it perform in the coming years?
What are the key regional markets?
What has been the impact of COVID-19 on the global business analytics market?
What is the breakup of the market based on the software?
What is the breakup of the market based on the deployment type?
What is the breakup of the market based on the end-user?
What is the breakup of the market based on the vertical?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the market?
What is the structure of the global business analytics market and who are the key players?
What is the degree of competition in the market?