Press release
Infrastructure for Business Analytics Market is Forecasted to Reach US$ 8.2 Billion by 2034
The global infrastructure for business analytics market size is estimated at US$ 3.7 billion in 2024 and is forecast to climb to US$ 8.2 billion by 2034. Worldwide revenue from infrastructure for business analytics has been calculated to increase at a CAGR of 9.2% between 2024 and 2034.Infrastructure for business analytics is widely used in enterprise resource management (ERM) applications for enhancing supply chain management, reducing risk potential, fostering teamwork, and enhancing organizational financial conditions. As a result, many businesses are implementing it in ERM applications to save operational and investment costs.
Business analytics is a field of study and application that employs data and analytics to enhance organizational decision-making. The collection of tools, methods, and procedures that support data analysis is referred to as the infrastructure for business analytics.
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Key Companies Profiled
Huawei Technologies; NetApp, Inc.; Cisco Corporation; Hitachi; DataCore Software; Unisys; Silicon Graphics; Inspur; Pure Storage; NEC.
The Role of Business Analytics Infrastructure
Business analytics infrastructure encompasses the hardware and software components that support data analysis, enabling organizations to make informed decisions. Key components include:
Database Servers: Crucial for managing large volumes of data, database servers account for a significant share of the market. These servers allow for efficient data storage, retrieval, and processing, facilitating real-time analytics and decision-making.
Business Software Servers: These servers support various business applications, enhancing operational efficiency and providing insights that drive strategic decisions.
Analytics Servers: Designed to handle complex analytical tasks, these servers process large datasets to uncover patterns and insights that inform business strategies.
Storage Solutions: Internal and external hard disk drives (HDDs) and flash arrays are vital for storing vast amounts of data, ensuring quick access and data integrity.
Market Drivers
Real-Time Data Analytics: The demand for real-time analytics is a significant driver of market growth. Organizations require real-time insights to respond swiftly to market changes, detect fraud, and enhance customer experiences. Real-time data analytics tools help businesses develop strategies for handling unexpected events by providing live dashboard implementations that offer instant access to relevant operational information.
AI and Big Data: The integration of artificial intelligence (AI) and machine learning (ML) with business analytics tools is revolutionizing data analysis. AI-enabled solutions can process vast amounts of data, providing predictive insights that help businesses anticipate market trends and consumer behavior. The rise of big data further fuels the need for robust analytics infrastructure capable of handling diverse and extensive datasets.
Cloud-Based Solutions: The trend towards digitalization and the increasing use of cloud-based analytic solutions are driving the market. Cloud-based tools offer scalability, flexibility, and cost-effectiveness, allowing businesses to analyze large volumes of unstructured data from various sources. This shift enables organizations to improve decision-making processes and achieve operational efficiency.
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Competitive Landscape
Key players in the infrastructure for business analytics industry are increasing the responsiveness of business software servers and database servers, improving the reliability of enterprises, and enhancing product standards. They are concentrating on increasing their operational productivity to make a mark in the industry.
Leading companies are focusing on quality control, pricing trends, new developments, joint ventures, and safety regulations to expand their reach in various developing countries. Several businesses are developing effective cloud analytic solutions to strengthen their market positions.
In September 2023, SAP announced the launch of the world's first software-based enterprise resource planning (ERP) system.
In 2019, a leading technology organization, Oracle Corporation, introduced Oracle Analytics, a collection of data, analytics, and apps that assist businesses in making data-driven decisions. Oracle Analytics provides expanded analytical capabilities for data preparation, visualization, and augmented analysis.
Market Segmentations:
By Infrastructure Type :
Database Servers
Business Software Servers
Analytics Servers
Internal Hard Disk Devices
Internal Flash Arrays
External All Flash Arrays
External All Hard Disk Drives
External Hybrid Flash Arrays
By Application :
Enterprise Resource Management (ERM) Applications
Customer Relationship Management (CRM) Applications
Structured Data Management Software
Data Access, Analysis, and Delivery
Operations and Manufacturing Applications
Application Platforms
Supply Chain Management (SCM) Applications
System Management Software
Integration and Orchestration Middleware
Others
By Region :
North America
Latin America
Western Europe
Eastern Europe
East Asia
South Asia & Pacific
Middle East & Africa
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