The global time series analysis software market is estimated to grow at a CAGR of around 12% during the forecast period. Time series analysis is one of the powerful analysis techniques. It is a statistical technique; this technique deals with time-series data in order to do trend analysis. Time series analysis is used by the business head to make important decisions, such as load forecasting, business forecasting, financial forecasting, and stock market analysis, and so on. In a time-series data, a sequence of large numbers of data is taken at successive equally spaced points in time. Analyze these large numbers of data manually would take a long time, to analyze a time-series data efficiently in a shorter time business heads take the help of various time series analysis software.

Industry 4.0 revolution is driving the global time series analysis software market. Now, the machine learning algorithms and artificial neural networks are used for time series analysis to forecast the trend. Furthermore, the recent developments in big data analytics, cloud computing, social networks, natural language processing (NLP) and machine learning have a significant impact on time series analysis software market. Extensive use of time series analysis and predictive analysis in the supply chain management, healthcare, stock market, and manufacturing industry is also driving the global time series analysis software market. Further, in the pandemic situation, many country’s governments are taking the help of time series analysis technique to determine the spread of the infection, also they are using it to take important decisions, such as how long a lockdown should be, numbers of the requirement of the test-kits, numbers of the requirement of the ventilators, numbers of the requirement the isolation wards, and others.

High subscription cost for the time series analysis software is restraining the growth of the market. For instance, Tableau license costs $999 for a desktop personal with annual maintenance, $1,999 for a desktop professional with annual maintenance. SAS software costs $8,700 per year for the most basic license only. Furthermore, the complexity of these time series analysis software is also one of the restraining factors of the global time series analysis software market. Besides, the adoption of the ML-based platform in various sectors is an opportunity for future market growth. ManyML-based time series analysis software is used by the business head to take important decisions, such as requirements of the raw materials, forecasting of sales, and others.

Segmentation

The global time series analysis software market is segmented based on the type and end-user. Based on the type, the market is segmented into cloud-based and on-premises time series analysis software. Based on the end-user, the market is segmented into large enterprises, SMEs, and education institute.

Large enterprises held a significant share in the end-user segment

Extensive use of time series analysis in large enterprises is driving the growth of the global time series analysis software market. Large enterprises have a huge amount of historical data, in order to use these large amounts of data efficiently, large enterprises are using time series analysis software to find the hidden pattern in these data. It helps them to make important decisions such as forecasting of online users, forecasting of traffic on their website, forecasting of users spending habits, forecasting of the staff turnover, and others. Moreover, large enterprises use time series analysis software in the supply chain management too, such as forecasting the requirements of the raw material, forecasting of the customer demands, and others.

Global Time Series Analysis Software Market Share by End-User, 2018 (%)

Regional Outlook

Geographically, the global time series analysis software market is segmented based on the region including North America, Europe, Asia-Pacific, and the Rest of the world (RoW). The time series analysis software market in North America is anticipated to have a major share among all the regions followed by Asia-Pacific. The presence of a large number of manufacturing firms, research institutes, and the presence of the major market players of time series analysis software in the North American region is fueling the growth of the market in North America. Further, cohesive government action is also contributing to the market growth. For instance, in February 2019, the US president signed an executive order for the American AI initiative. Asia-Pacific is the fastest-growing market across the globe. China is the world's largest manufacturing hub, where companies are using time series analysis software. Besides this, India is one of the largest service providers, here analytics service companies use time series analysis software, which is propelling the Asia-Pacific time series analysis software market.

Global Time Series Analysis Software Market Growth, by Region 2019-2025

Competitive Landscape

The major players that are providing time series analysis software include Microsoft Corp., Anodot Ltd., Google LLC., Trendalyze Inc., Seeq Corp, Software AG., InfluxDataOperations UK, Ltd., Tableau Software Llc., SAS Institute, IBM Corp., and others.Range of time series analysis software provided by these key players including SAS, Tableau, Trendalyze, IBM SPSS, Trendminer, Warp 10, Time series insights, SQL, Google cloud interference, Influx DB, and others. These players are adopting various strategies to sustain in the market. For instance, in June 2018, Software AG acquired Trendminer, TrendMiner, which offers an intuitive self-service analytics platform for time-series-based data. This acquisition helped Software AG to expand its IoT portfolio through time-series data used in AI algorithms.

The Report Cover

• Market value data analysis of 2018 and forecast to 2025.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global time series analysis software market. Based on the availability of data, information related to pipeline products, 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.