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Global Business Analytics Market Overview
The Global Business Analytics Market size is estimated to reach $11.9 billion by 2026, growing at a CAGR of 9.3% over 2021-2026. Company analytics (BA) is the set of skills, technology, and methodologies used to iteratively analyze and investigate historical industry performance to receive insight and guide business strategy. Company analytics focuses on using data and statistical approaches to gain new insights and knowledge of business performance. On the other hand, company intelligence has typically focused on employing a set of metrics to assess previous performance and drive business strategy. Organizations had to be patient since BI, analytics, and related data management technologies took time to develop and install. More innovative, quicker, and more automated technology and flexible development approaches are assisting in the reduction of delays.
Impact of COVID-19 on the Business Analytics Market:
Businesses globally are scrambling to adapt to the implications of COVID-19. Managers must make timely judgments on cost control and liquidity management and identify appropriate priorities while being active and adapting their decisions to changing circumstances. According to a current survey guided by Burtch Works and the International Institute for Analytics of 300 analytics professionals across the United States, 43 percent of respondents stated that analytics is at the forefront of their activities, assisting their organizations in making significant decisions in response to the COVID-19 crisis.
Key Takeaways from Global Business Analytics Market Report:
By deployment, the market for Cloud to grow at the highest CAGR during the forecast period
By Deployment, Business Analytics Market is segmented into Cloud & On-Premises. Cloud dominated the Business Analytics Market by deployment in 2020. It is also the fastest-growing over the forecast period 2021-2026. Over the next five years, demand for cloud-based business analytics solutions is likely to skyrocket. The adoption of cloud-based business analytics systems is fueled by the speed of deployment, scalability, and availability for a day, seven days a week. In addition, because most businesses want to improve their financial performance, cloud-based solutions are essential because they have lower operating, maintenance, and installation expenses.
North America to account for the largest market share during the forecast period.
North America held the largest share of the Business Analytics Market in 2020, with a global market share of 35.9%. Furthermore, North America is also the fastest-growing over the forecast period 2021-2026. The expansion of the market is due to technological advancements, the existence of developed nations, and the presence of essential manufacturers in this area. Furthermore, the Business Analytics Market in this area is dominated by expanding automotive, BFSI, healthcare, manufacturing, and other verticals. In addition, developing innovative market methods like company-to-employee, business-to-consumer, and business-to-business also opened up new financial analytics opportunities.
Market Dynamics
Driver: Increasing usage of Social Media Analytics is driving the Business Analytics Market.
Organizations seek to leverage information assets to improve customer connections, business outcomes, and operational efficiency, and business analytics is in high demand. However, keeping up with the changing needs and expectations of an increasing number of Business analytics users has grown more complex. Emerging business analytics trends such as social media analytics and text analytics, on the other hand, are expected to open up various prospects for the industry. Furthermore, because social media is more successful than traditional advertising, many companies have made it their primary source for various advertising campaigns, product promotions, and events.
Challenge: High Investment Costs are restraining the market growth.
As both use and investment in business and data analytics reach new highs, IT companies continue to eat data at unprecedented rates. In recent years, business and data analytics systems have evolved from strategic to operational applications, with data being extracted straight from transactional systems like ERP, CRM, and other operating systems.
Key Market Players
Pivotal Players in the Global Business Analytics Market consist of Oracle, IBM Corporation, SAP SE, Microsoft Corporation, Tibco Software, SAS Institute, Infor Inc, QLIK Technologies, and Salesforce.
Developments
In May 2020, Oracle revealed the availability of Oracle Analytics for Cloud HCM, which is made on Oracle Analytics Cloud and Oracle Autonomous Database. Oracle Analytics for Cloud HCM delivers HR executives, analysts, and business people a comprehensive view of data from across the organization, allowing them to gain better insights into workforce management. In addition, customers can get the most out of Oracle Cloud HCM by using self-service analytics.
Report Coverage and Scope
The report "Global Business Analytics Market" by Research Informatic covers an in-depth detailed analysis for the following segment covered under the scope.
By Deployment Mode
By End-User
By Geography
Global Business Analytics Market Growth, Trend and Forecast 2022-2027
Chapter 1 Business Analytics Market Overview
1.1 Product Overview and Scope of Business Analytics
1.2 Business Analytics Market Segmentation by Deployment Mode
1.2.1 Cloud
1.2.2 On-Premises
1.2.3 Hybrid
1.3 Business Analytics Market Segmentation by End-User
1.3.1 BFSI
1.3.2 Healthcare
1.3.3 Manufacturing
1.3.4 Retail
1.3.5 Telecom and IT
1.3.6 Others
1.4 Business Analytics Market Segmentation by Regions
1.4.1 North America
1.4.2 China
1.4.3 Europe
1.4.4 Southeast Asia
1.4.5 Japan
1.4.6 India
1.4.7 Global Market Size (Value) of Business Analytics (2015-2028)
Chapter 2 Global Economic Impact on Business Analytics Industry
2.1 Global Macroeconomic Environment Analysis
2.1.1 Global Macroeconomic Analysis
2.1.2 Global Macroeconomic Environment Development Trend
2.2 Global Macroeconomic Environment Analysis by Regions
Chapter 3 Global Business Analytics Market Competition by Manufacturers
3.1 Global Business Analytics Production and Share by Manufacturers (2021 and 2022)
3.2 Global Business Analytics Revenue and Share by Manufacturers (2021 and 2022)
3.3 Global Business Analytics Average Price by Manufacturers (2021 and 2022)
3.4 Manufacturers Business Analytics Manufacturing Base Distribution, Production Area, and Product Type
3.5 Business Analytics Market Competitive Situation and Trends
3.5.1 Business Analytics Market Concentration Rate
3.5.2 Business Analytics Market Share of Top 3 and Top 5 Manufacturers
3.5.3 Mergers & Acquisitions, Expansion
Chapter 4 Global Business Analytics Production, Revenue (Value) by Region (2015-2022)
4.1 Global Business Analytics Production by Region (2015-2022)
4.2 Global Business Analytics Production Market Share by Region (2015-2022)
4.3 Global Business Analytics Revenue (Value) and Market Share by Region (2015-2022)
4.4 Global Business Analytics Production, Revenue, Price and Gross Margin (2015-2022)
4.5 North America Business Analytics Production, Revenue, Price and Gross Margin (2015-2022)
4.6 Europe Business Analytics Production, Revenue, Price and Gross Margin (2015-2022)
4.7 China Business Analytics Production, Revenue, Price and Gross Margin (2015-2022)
4.8 Japan Business Analytics Production, Revenue, Price and Gross Margin (2015-2022)
4.9 Southeast Asia Business Analytics Production, Revenue, Price and Gross Margin (2015-2022)
4.10 India Business Analytics Production, Revenue, Price and Gross Margin (2015-2022)
Chapter 5 Global Business Analytics Supply (Production), Consumption, Export, Import by Regions (2015-2022)
5.1 Global Business Analytics Consumption by Regions (2015-2022)
5.2 North America Business Analytics Production, Consumption, Export, Import by Regions (2015-2022)
5.3 Europe Business Analytics Production, Consumption, Export, Import by Regions (2015-2022)
5.4 China Business Analytics Production, Consumption, Export, Import by Regions (2015-2022)
5.5 Japan Business Analytics Production, Consumption, Export, Import by Regions (2015-2022)
5.6 Southeast Asia Business Analytics Production, Consumption, Export, Import by Regions (2015-2022)
5.7 India Business Analytics Production, Consumption, Export, Import by Regions (2015-2022)
Chapter 6 Global Business Analytics Production, Revenue (Value), Price Trend by Type
6.1 Global Business Analytics Production and Market Share by Type (2015-2022)
6.2 Global Business Analytics Revenue and Market Share by Type (2015-2022)
6.3 Global Business Analytics Price by Type (2015-2022)
6.4 Global Business Analytics Production Growth by Type (2015-2022)
Chapter 7 Global Business Analytics Market Analysis by Application
7.1 Global Business Analytics Consumption and Market Share by Application (2015-2022)
7.2 Global Business Analytics Consumption Growth Rate by Application (2015-2022)
7.3 Market Drivers and Opportunities
7.3.1 Potential Applications
7.3.2 Emerging Markets/Countries
Chapter 8 Business Analytics Manufacturing Cost Analysis
8.1 Business Analytics Key Raw Materials Analysis
8.1.1 Key Raw Materials
8.1.2 Price Trend of Key Raw Materials
8.1.3 Key Suppliers of Raw Materials
8.1.4 Market Concentration Rate of Raw Materials
8.2 Proportion of Manufacturing Cost Structure
8.2.1 Raw Materials
8.2.2 Labor Cost
8.2.3 Manufacturing Expenses
8.3 Manufacturing Process Analysis of Business Analytics
Chapter 9 Industrial Chain, Sourcing Strategy and Downstream Buyers
9.1 Business Analytics Industrial Chain Analysis
9.2 Upstream Raw Materials Sourcing
9.3 Raw Materials Sources of Business Analytics Major Manufacturers in 2022
9.4 Downstream Buyers
Chapter 10 Marketing Strategy Analysis, Distributors/Traders
10.1 Marketing Channel
10.1.1 Direct Marketing
10.1.2 Indirect Marketing
10.1.3 Marketing Channel Development Trend
10.2 Market Positioning
10.2.1 Pricing Strategy
10.2.2 Brand Strategy
10.2.3 Target Client
10.3 Distributors/Traders List
Chapter 11 Market Effect Factors Analysis
11.1 Technology Progress/Risk
11.1.1 Substitutes Threat
11.1.2 Technology Progress in Related Industry
11.2 Consumer Needs/Customer Preference Change
11.3 Economic/Political Environmental Change
Chapter 12 Global Business Analytics Market Forecast (2022-2027)
12.1 Global Business Analytics Production, Revenue Forecast (2022-2027)
12.2 Global Business Analytics Production, Consumption Forecast by Regions (2022-2027)
12.3 Global Business Analytics Production Forecast by Type (2022-2027)
12.4 Global Business Analytics Consumption Forecast by Application (2022-2027)
12.5 Business Analytics Price Forecast (2022-2027)
Chapter 13 Appendix
Published On:April 2022
Base Year:2021
Historical Data:2018-2020
No of Pages:250
Business Analytics Market Size, Share & Trends Ana...
RD Code : IT22