Press release
Data Analytics Software Market is Expected To Grow at the Highest CAGR During the Forecast Period 2023-2032
Data Analytics Software Market
Data Analytics is a statistical way of analysing and reviewing vast amounts of data in order to obtain an effective result. The data processed in this manner can be gathered from previous trends and used to get analytical knowledge that can aid in corporate success. Data analytics can be very useful in reducing costs, making faster decisions, and launching new products or services. The market's primary drivers are rising technology usage and growing analytics.
Business analytics software supports in the interpretation and analysis of business data by enabling continuing research and investigation of previous business performance to acquire actionable insights for business strategy. It facilitates the finding of patterns and connections across data streams, as well as the automation of tasks and processes for real-time decision-making. Cloud-based business analytics software is in high demand among small and medium-sized organisations due to its low cost and ease of use. Furthermore, as the popularity of social media marketing develops, demand for social media analytics, a subset of business analytics, has expanded significantly, propelling the sector ahead.
Software for Big Data Analytics Market research reports provide a thorough look at key rivals through strategic analysis, micro and macro market trend and scenario analysis, pricing analysis, and a comprehensive summary of market situations throughout the forecast period. It is a thorough study that focuses on fundamental and secondary drivers, market share, leading segments, and regional analysis. The research also examines significant actors, big collaborations, mergers and acquisitions, as well as trending innovation and corporate policies.
Market Dynamics:
Drivers Outlook:
Data generation and consumption are increasing as a result of the introduction of mobile technology such as smartphones and tablets, as well as advancements in mobile networks and Wi-Fi. From 2010 to 2020, the amount of data generated, recorded, duplicated, and consumed on a global scale increased by approximately 5,000%, from 1.2 trillion gigabytes to 59 trillion gigabytes. Users created 1.7 MB of data every second in 2020, for example.
The data analytics market is critical for improving corporate processes and eliminating data waste. This service is based primarily on four important characteristics: volume, diversity, velocity, and authenticity. Enterprises benefit from data analytics by configuring deeper insights into unstructured data and identifying evidence that supports business assumptions. The analytical tools assist business analysts and users in creating corporate value and gaining a competitive advantage. Furthermore, it promotes procurement efficiency, enables firms to build marketing plans, assist corporate growth, and differentiate themselves from competitors.
Insights into Opportunities:
Enterprises may use AI and machine learning to examine complex data and produce efficient solutions. In general, firms in the customer engagement industry use these two technologies to evaluate and predict product sales dialogues. HubSpot, for example, has integrated machine learning and natural language processing technology into its internal content management system to better find, market, and pitch prospective clients, as well as support existing customers.
Restraint:
Data analytics usage is predicted to increase in nations such as China, India, and Japan in the next years due to the sudden increase in the use of social media applications by enterprises to research client behaviour patterns in order to make their strategies more effective. Many firms are gradually recognising the profitability and benefits of using data analytics; nevertheless, the market is hampered by a shortage of qualified in-house resources.
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Global Data Analytics Software Market: Major Players
• Alteryx
• Google Analytics
• Domo
• IBM
• Zoho Analytics
• MATLAB
• Minitab
• SAP Business Intelligence Platform
• GoodData
• Yellowfin
• Apache Spark
• Sisense
• RapidMiner
• Birst
• Visitor Analytics
• Stata
• Qlik Sense
• Looker
• Apache Hadoop
Global Data Analytics Software Market: By Types
• On-premise
• Cloud-based
Global Data Analytics Software Market: By Applications
• SMEs
• Large Enterprises
Global Data Analytics Software Market: Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global Data Analytics Software market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.
Reasons to Purchase this Report
• Market segmentation based on qualitative and quantitative analysis, taking into account both economic and non-economic aspects.
• Data on market value (in US dollars) for each section and sub-segment
• Identifies the area and market segment anticipated to experience the quickest growth and hold the majority of the market.
• Analysis by geography showcasing product/service usage in the region and highlighting the market dynamics affecting each region.
• A competitive landscape that takes into account recent service/product launches, collaborations, company expansions, and acquisitions by the companies profiled, as well as the market share of the leading players.
• Comprehensive company profiles for the top players in the industry, including business overviews, corporate insights, product benchmarking, and SWOT analyses
• The industry's future market forecast in light of recent changes, including growth possibilities, drivers of growth, and obstacles present in both developing and emerging economies.
• Comprises a thorough examination of the market from a number of angles using Porter's Five Forces analysis.
• Offers market knowledge across the Value Chain
• The current market dynamics scenario and future market expansion prospects
• Post-sales analyst assistance for six months
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Key Questions Answered in This Report
1. What was the size of the global Data Analytics Software Market in 2021?
2. What is the expected growth rate of the global Data Analytics Software Market during 2022-2027?
3. What are the key factors driving the global Data Analytics Software Market?
4. What has been the impact of COVID-19 on the global Data Analytics Software Market?
5. What is the breakup of the global Data Analytics Software Market based on the software type?
6. What is the breakup of the global Data Analytics Software Market based on the deployment type?
7. What is the breakup of the global Data Analytics Software Market based on the industry?
8. What is the breakup of the global Data Analytics Software Market based on the end-use?
9. What are the key regions in the global Data Analytics Software Market?
10. Who are the key players/companies in the global Data Analytics Software Market?
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Our strategic market analysis and capability to comprehend deep cultural, conceptual and social aspects of various tangled markets has helped us make a mark for ourselves in the industry. Analytics Market Research is a frontrunner in helping numerous companies; both regional and international to successfully achieve their business goals based on our in-depth market analysis. Moreover, we are also capable of devising market strategies that ensure guaranteed customer bases for our clients.
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