Business Analytics Market
Business Analytics Market Size, Share & Trends Analysis Report by Component (Software and Services), by Deployment (Cloud-Based and On-Premises), by Application (Customer Analytics, Supply Chain Analytics, Marketing Analytics, Pricing Analytics, Risk & Credit Analytics, and Others), and by End-Users (BFSI, Government, Retail, Healthcare, Media & Entertainment, IT & Telecom, and Others) Forecast Period (2022-2028)
Business analytics market is anticipated to grow at a CAGR of 10.1% during the forecast period. The growing establishment of start-ups coupled with government initiatives across the globe is the major factor driving the growth of the market. For instance, back in 2016, the government of India launched the ‘Startup India Initiative’, to build a stronger ecosystem for nurturing the startup culture. As a result of which, according to the government, there were around 65,861 recognized startups in India as of December 2021. These startups are diversified across 56 sectors including IT services, enterprise software, technology hardware, and several others.
Additionally, some of the Amlgo Labs, founded in 2017, provides innovative concepts and solutions to businesses and execute effective decision strategies. Moreover, the start-up offers fraud risk analytics, regulatory and compliance analytics, customer analytics, sales, and marketing analytics, etc. Apart from this, Atlan Founded in 2019, helps to bring reproducibility to data and analytics assets, with easily shareable data profiles, metadata and documentation, project templates, and more. It empowers diverse data businesses to take control of their analytics pipeline by offering to deal with large volumes of data, enabling users to rapidly prototype big data projects and helping IT teams enforce enterprise-grade security.
Segmental Outlook
The global business analytics market is segmented based on the component, deployment, application, and end-users. Based on the component, the market is bifurcated into software and services. Based on the deployment, the market is divided into cloud and on-premise. Based on the application, the market is further sub-segmented into customer analytics, supply chain analytics, marketing analytics, pricing analytics, risk & credit analytics, and others. Based on the end-users, the market is augmented into the BFSI, government, retail, healthcare, media & entertainment, IT & Telecom, and others. Among these, the software segment is expected to hold a considerable share in the market due to the changing customers' requirements and behaviour which are pushing end-users to adopt software-based solutions which will improve customer satisfaction and experience.
Among end-users, the BFSI segment is expected to hold a prominent share in the business analytics market over the forecast period. The growing technology is significantly favouring the BFSI industry by allowing banks, financial companies, and insurance companies to contact and engage clients on a larger scale. The factors such as increasing focus to improve customer lifecycle, early fraud detection, and mounting data volume are expected to propel market growth. For instance, in June 2022, State-run banks turned to dedicated analytics teams to analyze data to track frauds, detect stressed borrowers who may default on payments, and help the lenders stay ahead of the competition. The benefits of introducing business analytics include more effective marketing, new revenue opportunities, customer personalization, and improved operational efficiency which is further driving the market growth.
Regional Outlooks
The global business analytics market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa, and Latin America). The market can be analyzed for a particular region or country level as per the requirement. The Europe segment is expected to hold a considerable share in the business analytics market during the forecast period, owing to the increasing digitization and availability of developed technological infrastructure in the region.
Global Business Analytics Market Growth, by Region 2022-2028
The North American Region is Expected to Hold a Significant Share in the Global Business Analytics Market
Among all regions, the North American region is expected to hold a significant market share during the forecast period. The presence of business analytics solutions market players such as Microsoft Corp., Oracle Corp., Salesforce.com, Inc, and others are accelerating the growth of the business analytics market. For instance, IBM offers IBM planning analytics with Watson powered by TM1 and IBM Cognos analytics. Planning Analytics is AI-infused integrated planning, budgeting, and forecasting solution that allows businesses to quickly and confidently create plans for finance, sales, supply chain, and beyond. Whereas, IBM Cognos Analytics is an AI-fueled business intelligence and analytics software that supports the entire data analytics lifecycle, from discovery to operationalization.
Market Players Outlook
The major companies serving the global business analytics market include Adobe Inc., Domo, Inc., Google LLC, IBM Corp., Infor, MicroStrategy Inc., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in October 2021, IBM and Deloitte announced a new offering—DAPPER, an AI-enabled managed analytics solution. The solution reinforces the two organizations' 21-year global alliance—which helps organizations accelerate the adoption of hybrid cloud and AI across the enterprise—and 10 years of experience implementing the Deloitte Analytics Platform. DAPPER's end-to-end capabilities will allow organizations to gain confidence in the insights that their data provides via a secure, simple consume managed service offering that aims to resolve the challenges of adopting AI.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global business analytics market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. Overview
3.1.2. Financial Analysis
3.1.3. SWOT Analysis
3.1.4. Recent Developments
3.2. Key Strategy Analysis
4. Market Segmentation
4.1. Global Business Analytics Market by Component
4.1.1. Software
4.1.2. Services
4.2. Global Business Analytics Market by Deployment
4.2.1. Cloud-Based
4.2.2. On-Premises
4.3. Global Business Analytics Market by Application
4.3.1. Customer Analytics
4.3.2. Supply Chain Analytics
4.3.3. Marketing Analytics
4.3.4. Pricing Analytics
4.3.5. Risk & Credit Analytics
4.3.6. Others
4.4. Global Business Analytics Market by End-User
4.4.1. BFSI
4.4.2. Government
4.4.3. Retail
4.4.4. Healthcare
4.4.5. Media and Entertainment
4.4.6. IT and Telecom
4.4.7. Others
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. Adobe Inc.
6.2. Cloudability, Inc.
6.3. Densify, Inc.
6.4. Domo, Inc.
6.5. Fair Isaac Corp.
6.6. Google LLC
6.7. IBM Corp.
6.8. Infor
6.9. Looker Data Sciences, Inc.
6.10. Microsoft Corp.
6.11. MicroStrategy Inc.
6.12. Mixpanel, Inc.
6.13. Oracle Corp.
6.14. PanTerra Networks, Inc.
6.15. QLIK Technologies, Inc.
6.16. Salesforce.com, Inc.
6.17. SAP SE
6.18. SAS Institute, Inc.
6.19. Sisense Ltd.
6.20. Teradata Corp.
6.21. Tibco Software, Inc.
1. GLOBAL BUSINESS ANALYTICS MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2021-2028 ($ MILLION)
2. GLOBAL BUSINESS ANALYTICS BY SOFTWARE MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
3. GLOBAL BUSINESS ANALYTICS BY SERVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
4. GLOBAL BUSINESS ANALYTICS MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT, 2021-2028 ($ MILLION)
5. GLOBAL CLOUD-BASED BUSINESS ANALYTICS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
6. GLOBAL ON-PREMISES BUSINESS ANALYTICS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
7. GLOBAL BUSINESS ANALYTICS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
8. GLOBAL BUSINESS ANALYTICS FOR CUSTOMER ANALYTICS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
9. GLOBAL BUSINESS ANALYTICS FOR SUPPLY CHAIN ANALYTICS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION
10. GLOBAL BUSINESS ANALYTICS FOR MARKETING ANALYTICS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
11. GLOBAL BUSINESS ANALYTICS FOR PRICING ANALYTICS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION
12. GLOBAL BUSINESS ANALYTICS FOR RISK AND CREDIT ANALYTICS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
13. GLOBAL BUSINESS ANALYTICS FOR OTHER MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION
14. GLOBAL BUSINESS ANALYTICS MARKET RESEARCH AND ANALYSIS BY END-USER, 2021-2028 ($ MILLION)
15. GLOBAL BUSINESS ANALYTICS FOR BFSI MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
16. GLOBAL BUSINESS ANALYTICS FOR GOVERNMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
17. GLOBAL BUSINESS ANALYTICS FOR RETAIL MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
18. GLOBAL BUSINESS ANALYTICS FOR HEALTHCARE MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
19. GLOBAL BUSINESS ANALYTICS FOR MEDIA & ENTERTAINMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
20. GLOBAL BUSINESS ANALYTICS FOR IT & TELECOM MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
21. GLOBAL BUSINESS ANALYTICS FOR OTHER MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
22. GLOBAL BUSINESS ANALYTICS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
23. NORTH AMERICAN BUSINESS ANALYTICS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
24. NORTH AMERICAN BUSINESS ANALYTICS MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2021-2028 ($ MILLION)
25. NORTH AMERICAN BUSINESS ANALYTICS MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT, 2021-2028 ($ MILLION)
26. NORTH AMERICAN BUSINESS ANALYTICS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
27. NORTH AMERICAN BUSINESS ANALYTICS MARKET RESEARCH AND ANALYSIS BY END-USER, 2021-2028 ($ MILLION)
28. EUROPEAN BUSINESS ANALYTICS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
29. EUROPEAN BUSINESS ANALYTICS MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2021-2028 ($ MILLION)
30. EUROPEAN BUSINESS ANALYTICS MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT, 2021-2028 ($ MILLION)
31. EUROPEAN BUSINESS ANALYTICS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
32. EUROPEAN BUSINESS ANALYTICS MARKET RESEARCH AND ANALYSIS BY END-USER, 2021-2028 ($ MILLION)
33. ASIA-PACIFIC BUSINESS ANALYTICS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
34. ASIA-PACIFIC BUSINESS ANALYTICS MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2021-2028 ($ MILLION)
35. ASIA-PACIFIC BUSINESS ANALYTICS MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT, 2021-2028 ($ MILLION)
36. ASIA-PACIFIC BUSINESS ANALYTICS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
37. ASIA-PACIFIC BUSINESS ANALYTICS MARKET RESEARCH AND ANALYSIS BY END-USER, 2021-2028 ($ MILLION)
38. REST OF THE WORLD BUSINESS ANALYTICS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
39. REST OF THE WORLD BUSINESS ANALYTICS MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2021-2028 ($ MILLION)
40. REST OF THE WORLD BUSINESS ANALYTICS MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT, 2021-2028 ($ MILLION)
41. REST OF THE WORLD BUSINESS ANALYTICS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
42. REST OF THE WORLD BUSINESS ANALYTICS MARKET RESEARCH AND ANALYSIS BY END-USER, 2021-2028 ($ MILLION)
1. GLOBAL BUSINESS ANALYTICS MARKET SHARE BY COMPONENT, 2021 VS 2028 (%)
2. GLOBAL BUSINESS ANALYTICS BY SOFTWARE MARKET SHARE BY REGION, 2021 VS 2028 (%)
3. GLOBAL BUSINESS ANALYTICS BY SERVICES MARKET SHARE BY REGION, 2021 VS 2028 (%)
4. GLOBAL BUSINESS ANALYTICS MARKET SHARE BY DEPLOYMENT, 2021 VS 2028 (%)
5. GLOBAL CLOUD-BASED BUSINESS ANALYTICS MARKET SHARE BY REGION, 2021 VS 2028 (%)
6. GLOBAL ON-PREMISES BUSINESS ANALYTICS MARKET SHARE BY REGION, 2021 VS 2028 (%)
7. GLOBAL BUSINESS ANALYTICS MARKET SHARE BY APPLICATION, 2021 VS 2028 (%)
8. GLOBAL BUSINESS ANALYTICS FOR CUSTOMER ANALYTICS MARKET SHARE BY REGION, 2021 VS 2028 (%)
9. GLOBAL BUSINESS ANALYTICS FOR SUPPLY CHAIN ANALYTICS MARKET SHARE BY REGION, 2021 VS 2028 (%)
10. GLOBAL BUSINESS ANALYTICS FOR MARKETING ANALYTICS MARKET SHARE BY REGION, 2021 VS 2028 (%)
11. GLOBAL BUSINESS ANALYTICS FOR PRICING ANALYTICS MARKET SHARE BY REGION, 2021 VS 2028 (%)
12. GLOBAL BUSINESS ANALYTICS FOR RISK & CREDIT ANALYTICS MARKET SHARE BY REGION, 2021 VS 2028 (%)
13. GLOBAL BUSINESS ANALYTICS FOR OTHER MARKET SHARE BY REGION, 2021 VS 2028 (%)
14. GLOBAL BUSINESS ANALYTICS MARKET SHARE BY END-USER, 2021 VS 2028 (%)
15. GLOBAL BUSINESS ANALYTICS FOR BFSI MARKET SHARE BY REGION, 2021 VS 2028 (%)
16. GLOBAL BUSINESS ANALYTICS FOR GOVERNMENT MARKET SHARE BY REGION, 2021 VS 2028 (%)
17. GLOBAL BUSINESS ANALYTICS FOR RETAIL MARKET SHARE BY REGION, 2021 VS 2028 (%)
18. GLOBAL BUSINESS ANALYTICS FOR HEALTHCARE MARKET SHARE BY REGION, 2021 VS 2028 (%)
19. GLOBAL BUSINESS ANALYTICS FOR MEDIA & ENTERTAINMENT MARKET SHARE BY REGION, 2021 VS 2028 (%)
20. GLOBAL BUSINESS ANALYTICS FOR IT & TELECOM MARKET SHARE BY REGION, 2021 VS 2028 (%)
21. GLOBAL BUSINESS ANALYTICS FOR OTHER MARKET SHARE BY REGION, 2021 VS 2028 (%)
22. GLOBAL BUSINESS ANALYTICS MARKET SHARE BY REGION, 2021 VS 2028 (%)
23. US BUSINESS ANALYTICS MARKET SIZE, 2021-2028 ($ MILLION)
24. CANADA BUSINESS ANALYTICS MARKET SIZE, 2021-2028 ($ MILLION)
25. UK BUSINESS ANALYTICS MARKET SIZE, 2021-2028 ($ MILLION)
26. FRANCE BUSINESS ANALYTICS MARKET SIZE, 2021-2028 ($ MILLION)
27. GERMANY BUSINESS ANALYTICS MARKET SIZE, 2021-2028 ($ MILLION)
28. ITALY BUSINESS ANALYTICS MARKET SIZE, 2021-2028 ($ MILLION)
29. SPAIN BUSINESS ANALYTICS MARKET SIZE, 2021-2028 ($ MILLION)
30. REST OF EUROPE BUSINESS ANALYTICS MARKET SIZE, 2021-2028 ($ MILLION)
31. INDIA BUSINESS ANALYTICS MARKET SIZE, 2021-2028 ($ MILLION)
32. CHINA BUSINESS ANALYTICS MARKET SIZE, 2021-2028 ($ MILLION)
33. JAPAN BUSINESS ANALYTICS MARKET SIZE, 2021-2028 ($ MILLION)
34. SOUTH KOREA BUSINESS ANALYTICS MARKET SIZE, 2021-2028 ($ MILLION)
35. REST OF ASIA-PACIFIC BUSINESS ANALYTICS MARKET SIZE, 2021-2028 ($ MILLION)
36. REST OF THE WORLD BUSINESS ANALYTICS MARKET SIZE, 2021-2028 ($ MILLION)
