Global Business Analytics Software Market

Global Business Analytics Software Market Size, Share, Growth Analysis, By Technology(Cloud Business Intelligence, Mobile Business Intelligence), By Function(Executive Management, Finance), By Tool(Dashboards & Scoreboards, OLAP & Visualization Tools) - Industry Forecast 2024-2031


Report ID: SQMIG45J2141 | Region: Global | Published Date: March, 2024
Pages: 197 | Tables: 93 | Figures: 76

Global Business Analytics Software Market News

  • In September 2023, Oracle announced the release of a next-generation platform for data, analytics, and artificial intelligence (AI) that will enable clients of Oracle Fusion Cloud Applications to improve business outcomes by fusing data-driven insights with wise choices and actions. An advancement over Oracle Fusion Analytics Warehouse, the Fusion Data Intelligence Platform will offer business data as a service along with AI/ML models, rich interactive analytics, 360-degree data models for important business entities, automated data pipelines, and intelligent applications.

     

  • The first software-based enterprise resource planning (ERP) solution was announced by SAP SE in September 2023, and it has since transformed business and our clients' capacity to provide value.

     

  • In August 2023 Pyramid Analytics, a provider of next-generation business intelligence (BI) software, and global retail experts Smollan officially signed an international reseller and implementation collaboration agreement. Through the agreement, Smollan will be able to offer more services, including the sale of Pyramid Analytics licenses and the implementation of Pyramid Analytics software, through its data and technology company, DataOrbis. 

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FAQs

Global Business Analytics Software Market size was valued at USD 38 billion in 2022 and is poised to grow from USD 42.18 billion in 2023 to USD 97.21 billion by 2031, growing at a CAGR of 11% in the forecast period (2024-2031).

The competitive landscape of the global business analytics software market is characterized by dynamic players striving to assert their prominence in this rapidly evolving domain. Established technology giants and innovative start-ups engage in intense competition, each vying to capture a significant market share. Key players such as Microsoft, SAP, IBM, and Oracle leverage their extensive resources, brand recognition, and comprehensive product portfolios to maintain a competitive edge. 'IBM Corporation', 'Microsoft Corporation', 'SAP SE', 'Oracle Corporation', 'SAS Institute Inc.', 'Tableau Software (acquired by Salesforce)', 'QlikTech International AB', 'Adobe Inc.', 'Teradata Corporation', 'MicroStrategy Incorporated', 'TIBCO Software Inc.', 'Domo, Inc.', 'Alteryx, Inc.', 'Informatica Corporation', 'Sisense Inc.', 'IBM Corporation', 'Google LLC', 'RapidMiner, Inc.', 'GoodData Corporation', 'ThoughtSpot, Inc.'

In today's fast-paced business environment, the ability to access real-time insights is crucial. Business analytics software offers the capability to analyze data in real-time, enabling prompt decision-making.

Rise of Advanced Analytics and AI: The integration of advanced analytics techniques, including machine learning and artificial intelligence (AI), is becoming more prevalent. These technologies enhance predictive capabilities, automate processes, and drive more accurate and real-time insights.

The Asia-Pacific region is poised to demonstrate remarkable growth in the business analytics software market, projecting an impressive CAGR of 12.9%. This forecasted surge underscores the region's dynamic economic landscape, rapid technological advancements, and increasing adoption of data-driven strategies across industries. The Asia-Pacific's ascent as a key player in the global business analytics software market can be attributed to its burgeoning economies, burgeoning digitalization, and a burgeoning need for insightful decision-making.

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Global Business Analytics Software Market

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