Business Analytics Market

Business Analytics Market Growth, Size, Share, Outlook, Demand, Key Player Analysis and Opportunity 2021-2026

The global business analytics market to grow at a CAGR of around 10% during the forecast period (2021-2026).


According to the latest report by IMARC Group, titled “Business Analytics Market Growth: Global Industry Trends, Share, Size, Opportunity and Forecast 2021-2026,” the global business analytics market size experienced healthy growth during 2015-2020. Business analytics is a data management solution, which includes collating, sorting, processing and transforming data into business insights. It utilizes sophisticated data, quantitative analysis, mathematical models, information systems, computer science, operations research to analyze the data, develop models, predict future events and recommend adequate actions to maximize ideal outcomes. Some of the main components of data analytics are data aggregation, data mining, association and sequence identification, text mining, forecasting, predictive analytics, optimization, and data visualization.

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Market Trends

The rising adoption of the internet of things (IoT), machine learning and artificial intelligence (AI) are increasing the volume and complexity of data sets. This, along with the growing mobile data and cloud computing traffic, is escalating the demand for business analytics across the globe. Additionally, business analytics aids an organization in analyzing historical data and performances of its business processes for better decision-making and optimal management of resources. Owing to this, there is increasing adoption of business analytics in the telecom and IT sectors, which is acting as another major growth-inducing factor. Furthermore, the expanding application of business analytics in the healthcare, energy and power, media and entertainment and banking, financial services, and insurance (BFSI) sectors, is expected to create a positive outlook for the market growth in the upcoming years.

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

Asia Pacific

Europe

Latin America

Middle East and Africa

Competitive Landscape:

 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.

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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry 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.

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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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