Cloud-Based Business Analytics Software Market Size Set to Reach New Heights in the Coming Years | Microsoft Corporation, Adobe Systems Incorporated

Cloud-based business analytics software conducts predictive analysis to derive decision making inputs and insights through the application of statistical tools and methods in business performance data. It analyses business data and information through continuous investigation and exploration of historical business performance to obtain decisive insights for business planning. Cloud-based business analytics software helps an organization to optimize business operations and facilitates strategic decision making. The outputs are mostly used by financial analysts, managers, security personnel, and key decision makers of organizations.

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Governmental organizations are boosting their maintenance budgets for system infrastructure while simultaneously funding initiatives for project development, modernization, and enhancement. As a result of the investments' success, ICT vendors now annually set aside funding for the growth of the online market. Global ICT exports are anticipated to increase 3.9% on average year from US$ 784.3 billion in 2021 to US$ 955.19 billion in 2030. Global supply has increased by 9.5% yearly since 2009. In terms of global ICT exports in 2021, Ireland came in first place with US$ 169. 32 billion. The rankings placed China at number 4, the United States at number 2, and India at number 3. Since 2009, Brunei has increased by 228.2% year over year, while Sierra Leone has decreased by 61.7% year over year.

By 2026, European ICT Revenue is likely to increase by 1.5% annually, from US$ 1,802,413 Million in 2021 to US$ 1,933,429 Million. The European market has increased by 3.1% annually since 2016. In terms of ICT Revenue in Europe in 2021, Germany came in first place with US$ 339,074 million. Positions 2, 3, and 4 in this ranking were held by the United Kingdom, France, and Ireland, respectively. Since 2016, Malta has increased by 16.5% year over year, while Italy has decreased by 0.2%.

Increase in adoption of these software by many organizations to gain strategic and competitive advantage over their competitors drive the market. In addition, ability of cloud-based business analytics software to help make proper business-related decisions and also to provide competitive advantage by analyzing and acting upon information in a timely manner propels the growth of the market. However, insufficient volume of meaningful data in small and medium size businesses and lack of skilled and proficient workforce limits the growth of the market. Furthermore, development of trends such as social media analytics and text analytics as well as increase in need to gain insights for business planning is expected to provide numerous growth opportunities for the market.

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The global cloud-based business analytics software market is segmented into deployment model, end user, and application. Based on deployment model, the market is divided into private, public, and hybrid. The end user segment covered in this study includes IT & telecom, retail, BFSI, manufacturing, and others. By application, the market is classified into customer analytics, supply chain analytics, marketing analytics, pricing analytics, and others. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

KEY BENEFITS FOR STAKEHOLDERS
>The study provides an in-depth analysis of the global cloud-based business analytics software market and current & future trends to elucidate the imminent investment pockets.
>Information about key drivers, restrains, and opportunities and their impact analysis on the market size is provided.
>Porter's Five Forces analysis illustrates the potency of buyers and suppliers operating in the industry.
>The quantitative analysis of the global market from 2016 to 2023 is provided to determine the market potential.

KEY MARKET PLAYERS
>Oracle Corporation
>SAS Institute Inc.
>SAP SE
>International Business Machines (IBM) Corporation
>Microsoft Corporation
>Adobe Systems Incorporated
>Tableau Software.
>Salesforce.com, Inc.
>QlikTech International AB
>Fair Isaac Corporation

KEY MARKET SEGMENTS

BY DEPLOYMENT MODEL
>Private Cloud
>Public Cloud
>Hybrid Cloud

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BY END USER
>IT & Telecom
>Retail
>BFSI
>Manufacturing
>Others

BY APPLICATION
>Customer Analytics
>Supply Chain Analytics
>Marketing Analytics
>Pricing Analytics
>Others

BY REGION
>North America?U.S.
?Canada
?Mexico

>Europe?UK
?Germany
?France
?Rest of Europe

>Asia-Pacific?China
?Japan
?India
?Australia
?Rest of Asia-Pacific

>LAMEA?Latin America
?Middle East
?Africa

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