Global Business Analytics Market to Grow at a CAGR of 8.3% During the Period 2024-2032, Driven by Growth in Big Data

The global business analytics market is expected to be pushed by growth of Big Data, modern solutions by leading companies, and the need to analyse huge amounts of data (particularly unstructured data) in the digital age to make intelligent business decisions, and streamline and optimize processes. Use of data analytics pervades several domains, including marketing, healthcare, logistics, finance, ecommerce, food service and restaurants, professional sports, entertainment, casinos, and others. North America, Europe and Asia are expected to be key markets. 

Over the years, business analytics applications have displayed significant growth in different sectors, including agriculture, finance marketing, stock marketing, medical, manufacturing, bond marketing, customer relationship management, human resources, and others.

Leading companies offer modern and high-quality business analytics software solutions to enable efficient business operations. For example, IBM offers data and analytics consulting services to enable organizations to put together organizational data for analytical, operational, data science, and AI models to optimize data-driven decision making and allow efficient business processes. 

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Wipro offers data, analytics, and AI services which help organizations generate novel business models and streams of revenue while enabling quality, security, and regulatory compliance of data. 

In 2020, Oracle introduced cloud-based MySQL database service with a new analytics engine capable of carrying out transaction processing and business analysis projects within the same database system.

Key Findings of the Report

• The global business analytics market is expected to be driven by the need to optimize and streamline business processes.

• Applications across sectors are expected to boost market growth.

• Asia, Europe and North America are projected to be key markets.    

Market Analysis by Software, Deployment Type, Enterprise Size, Industry Vertical and Region 

• By software, the market is segmented into Reporting Query, and Analysis Tools; Data Warehousing Platform; Content Analytics; and Others.

• On the basis of deployment type, the market is divided into Cloud and On-premises.

• Based on enterprise size, the market is classified into Large Enterprises and Small and Medium Enterprises.

• By industry vertical, the market is divided into Energy and power; Banking, Financial Services, and Insurance (BFSI); Government; Education; Healthcare; Retail; Media and Entertainment; Telecom and IT; Manufacturing; and Others.

• By region, the market is segmented into Europe, North America, Latin America, Asia Pacific, and Middle East and Africa.

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