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Global Business Analytics Market Size, Trends, Analysis: By Software: Query, Reporting and Analysis Tools, Content Analytics, Data Warehousing Platform, Others; By Deployment Type: Cloud, On-premises; By Enterprise Size; By Industry Vertical; Regional Analysis; Competitive Landscape; Industry Events and Developments; 2023-2028

Global Business Analytics Market Outlook

The global business analytics market is expected to grow at a CAGR of 8.3% during the period 2023-2028. Growth of Big Data has led to an increase in the demand for business analytics. Modern data analytics techniques are today required to decipher the huge amounts of data (particularly unstructured data) in the digital age.

 

Companies use data analytics to gather, process, integrate and formulate data for development, assessment, and review of analytical models, and better decision making. Use of data analytics pervades several domains, including marketing, healthcare, logistics, finance, ecommerce, food service and restaurants, professional sports, entertainment, casinos, and others. North America, Europe and Asia are expected to be key regions for the business analytics market. 

 

Market Growth is Expected to be Pushed by Need to Better Understand Data to Make Intelligent Business Decisions

Business analytics indicates the use of statistical methods and techniques to assess historical data to obtain new and deeper insights and improve decision-making. Key elements of business analytics include text mining, data aggregation, data mining, association and sequence identification, forecasting, predictive analytics, data visualization, and optimization. Descriptive analytics assesses historical data to determine the response of a given unit to a group of variables; predictive analytics, on the other hand, examines historical data to establish the probability of certain future consequences or outcomes. Prescriptive analytics combines the descriptive and predictive analytics approaches to gain insights into possible future outcomes with estimated time and reason of occurrence. Examples of business analytics may include management and running of clinical information systems (healthcare industry), following player spending and formulation of retention efforts in nightclubs and casinos, restructuring of operations in fast food restaurants through monitoring of peak customer hours and determining the time of preparation of particular food items on the basis of assembly time. Such applications are expected to drive the global business analytics market.

 

Major Solution Providers Offer Modern Solutions

Leading companies offer modern and high-quality business analytics software solutions to enable efficient business operations. Popular business analytics tools used by companies include QlikView, SAS Business Analytics (SAS BA), Splunk, Board, Microstrategy, Sisense, Dundas BI, KNIME, TIBCO Spotfire, Tableau Big Data Analytics, and others.

 

Businesses Use Business Analytics to Optimize Processes and Improve Offerings

Several leading companies have made significant investments in business analytics, supporting the growth of the business analytics market. Businesses seek to gain deep insights to streamline and optimize processes, and eliminate inefficiencies therein. Company-wide optimization and streamlining processes may include formulation and assessment of company decisions on the basis of past performance and market trends; assessing departmental performance and growth efforts; evaluating employee productivity and performance; assessing present and future human resource and skill requirements; evaluating and forecasting the performance of potential investments; determining demand for a given service or product and observing consumer behaviour; and others. For example, Amazon.com discerns sales data by analysing purchases to reach out to customers and predict what types of products would a customer prefer to buy. General Electric uses business analytics on its sensor data to predict when engine maintenance would be needed. 

 

Disney uses business analytics to predict consumer behaviour and preferences and offer superior customer experience.

 

Zara uses data gathered from Instagram, surveys, and social media to better understand customers’ fashion sensibilities and create fashion that becomes popular and a trend once it reaches the stores.

 

Market Segmentation

By software, the business analytics market is segmented into:

  • Content Analytics
  • Query, Reporting and Analysis Tools
  • Data Warehousing Platform
  • Others

 

On the basis of deployment type, the market is divided into:

  • Cloud
  • On-premises

 

By enterprise size, the market is segmented into:

  • Large Enterprises
  • Small and Medium Enterprises

 

By industry vertical, the market is classified into:

  • Energy and power
  • Banking, Financial Services, and Insurance (BFSI)
  • Government
  • Education
  • Healthcare
  • Retail
  • Manufacturing
  • Media and Entertainment
  • Telecom and IT
  • Others

 

By region, the market is segmented into: 

  • Middle East and Africa
  • North America
  • Asia Pacific
  • Europe
  • Latin America

 

Key Industry Players in the Market  

The report comprehensively analyses key players in the global business analytics market, monitoring their capacity and newest developments like plant turnarounds, capacity expansions, and mergers and acquisitions:

 

  • Oracle Corporation
  • IBM Corporation
  • Panterra Networks, Inc.
  • Teradata Corporation
  • Tableau Software, LLC.
  • Others

 

The EMR report offers a deep understanding of the industry through a SWOT analysis and Porter’s Five Forces model. 

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2022
Historical Period 2018-2022
Forecast Period 2023-2028
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Software
  • Deployment Type
  • Enterprise Size
  • Industry Vertical
  • Region
Breakup by Software
  • Query, Reporting and Analysis Tools
  • Content Analytics
  • Data Warehousing Platform
  • Others
Breakup by Deployment Type
  • Cloud
  • On-premises
Breakup by Enterprise Size
  • Large Enterprises
  • Small and Medium Enterprises
Breakup by Industry Vertical
  • Banking, Financial Services, and Insurance (BFSI)
  • Energy and power
  • Education
  • Government
  • Retail
  • Healthcare
  • Media and Entertainment
  • Manufacturing
  • Telecom and IT
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT
  • Porter's Five Forces
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Oracle Corporation
  • IBM Corporation
  • Panterra Networks, Inc.
  • Teradata Corporation
  • Tableau Software, LLC.
  • Others

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface 
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions   
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments  
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges  
8    Global Business Analytics Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Business Analytics Historical Market (2018-2022) 
    8.3    Global Business Analytics Market Forecast (2023-2028)
    8.4    Global Business Analytics Market by Software
        8.4.1    Query, Reporting and Analysis Tools
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2018-2022)
            8.4.1.3    Forecast Trend (2023-2028)
        8.4.2    Content Analytics
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2018-2022)
            8.4.2.3    Forecast Trend (2023-2028)
        8.4.3    Data Warehousing Platform
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2018-2022)
            8.4.3.3    Forecast Trend (2023-2028)
        8.4.4    Others
    8.5    Global Business Analytics Market by Deployment Type
        8.5.1    Cloud
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2018-2022)
            8.5.1.3    Forecast Trend (2023-2028)
        8.5.2    On-premises
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2018-2022)
            8.5.2.3    Forecast Trend (2023-2028)
    8.6    Global Business Analytics Market by Enterprise Size
        8.6.1    Large Enterprises
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2018-2022)
            8.6.1.3    Forecast Trend (2023-2028)
        8.6.2    Small and Medium Enterprises
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2018-2022)
            8.6.2.3    Forecast Trend (2023-2028)
    8.7    Global Business Analytics Market by Industry Vertical
        8.7.1    Banking, Financial Services, and Insurance (BFSI)
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2018-2022)
            8.7.1.3    Forecast Trend (2023-2028)
        8.7.2    Energy and power
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2018-2022)
            8.7.2.3    Forecast Trend (2023-2028)
        8.7.3    Education
            8.7.3.1    Market Share
            8.7.3.2    Historical Trend (2018-2022)
            8.7.3.3    Forecast Trend (2023-2028)
        8.7.4    Government
            8.7.4.1    Market Share
            8.7.4.2    Historical Trend (2018-2022)
            8.7.4.3    Forecast Trend (2023-2028)
        8.7.5    Retail
            8.7.5.1    Market Share
            8.7.5.2    Historical Trend (2018-2022)
            8.7.5.3    Forecast Trend (2023-2028)
        8.7.6    Healthcare
            8.7.6.1    Market Share
            8.7.6.2    Historical Trend (2018-2022)
            8.7.6.3    Forecast Trend (2023-2028)
        8.7.7    Media and Entertainment
            8.7.7.1    Market Share
            8.7.7.2    Historical Trend (2018-2022)
            8.7.7.3    Forecast Trend (2023-2028)
        8.7.8    Manufacturing
            8.7.8.1    Market Share
            8.7.8.2    Historical Trend (2018-2022)
            8.7.8.3    Forecast Trend (2023-2028)
        8.7.9    Telecom and IT
            8.7.9.1    Market Share
            8.7.9.2    Historical Trend (2018-2022)
            8.7.9.3    Forecast Trend (2023-2028)
        8.7.10    Others
    8.8    Global Business Analytics Market by Region
        8.8.1    Market Share
            8.8.1.1    North America
            8.8.1.2    Europe
            8.8.1.3    Asia Pacific
            8.8.1.4    Latin America
            8.8.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2018-2022)
        9.1.2    Forecast Trend (2023-2028)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2018-2022)
        9.2.2    Forecast Trend (2023-2028)
        9.2.3    Breakup by Country 
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
        9.3    Asia Pacific
        9.3.1    Historical Trend (2018-2022)
        9.3.2    Forecast Trend (2023-2028)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2018-2022)
        9.4.2    Forecast Trend (2023-2028)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2018-2022)
        9.5.2    Forecast Trend (2023-2028)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
11    Competitive Landscape
    11.1    Market Structure
    11.2    Company Profiles
        11.2.1    Oracle Corporation
            11.2.1.1    Company Overview
            11.2.1.2    Product Portfolio
            11.2.1.3    Demographic Reach and Achievements
            11.2.1.4    Certifications
        11.2.2    IBM Corporation
            11.2.2.1    Company Overview
            11.2.2.2    Product Portfolio
            11.2.2.3    Demographic Reach and Achievements
            11.2.2.4    Certifications
        11.2.3    Panterra Networks, Inc.
            11.2.3.1    Company Overview
            11.2.3.2    Product Portfolio
            11.2.3.3    Demographic Reach and Achievements
            11.2.3.4    Certifications
        11.2.4    Teradata Corporation
            11.2.4.1    Company Overview
            11.2.4.2    Product Portfolio
            11.2.4.3    Demographic Reach and Achievements
            11.2.4.4    Certifications
        11.2.5    Tableau Software, LLC.
            11.2.5.1    Company Overview
            11.2.5.2    Product Portfolio
            11.2.5.3    Demographic Reach and Achievements
            11.2.5.4    Certifications
        11.2.6    Others
12    Industry Events and Developments

 

List of Key Figures and Tables

1.    Global Business Analytics Market: Key Industry Highlights, 2018 and 2028
2.    Global Business Analytics Historical Market: Breakup by Software (USD Million), 2018-2022
3.    Global Business Analytics Market Forecast: Breakup by Software (USD Million), 2023-2028
4.    Global Business Analytics Historical Market: Breakup by Deployment Type (USD Million), 2018-2022
5.    Global Business Analytics Market Forecast: Breakup by Deployment Type (USD Million), 2023-2028
6.    Global Business Analytics Historical Market: Breakup by Enterprise Size (USD Million), 2018-2022
7.    Global Business Analytics Market Forecast: Breakup by Enterprise Size (USD Million), 2023-2028
8.    Global Business Analytics Historical Market: Breakup by Industry Vertical (USD Million), 2018-2022
9.    Global Business Analytics Market Forecast: Breakup by Industry Vertical (USD Million), 2023-2028
10.    Global Business Analytics Historical Market: Breakup by Region (USD Million), 2018-2022
11.    Global Business Analytics Market Forecast: Breakup by Region (USD Million), 2023-2028
12.    North America Business Analytics Historical Market: Breakup by Country (USD Million), 2018-2022
13.    North America Business Analytics Market Forecast: Breakup by Country (USD Million), 2023-2028
14.    Europe Business Analytics Historical Market: Breakup by Country (USD Million), 2018-2022
15.    Europe Business Analytics Market Forecast: Breakup by Country (USD Million), 2023-2028
16.    Asia Pacific Business Analytics Historical Market: Breakup by Country (USD Million), 2018-2022
17.    Asia Pacific Business Analytics Market Forecast: Breakup by Country (USD Million), 2023-2028
18.    Latin America Business Analytics Historical Market: Breakup by Country (USD Million), 2018-2022
19.    Latin America Business Analytics Market Forecast: Breakup by Country (USD Million), 2023-2028
20.    Middle East and Africa Business Analytics Historical Market: Breakup by Country (USD Million), 2018-2022
21.    Middle East and Africa Business Analytics Market Forecast: Breakup by Country (USD Million), 2023-2028
22.    Global Business Analytics Market Structure

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