Global SaaS-based Business Analytics Market is expected to foresee significant growth. North America to lead the growth!
- Himanshu Patni
- November 21, 2022
- TELECOM & IT
- SaaS-based Business Analytics Market, SaaS-based Business Analytics Market Growth, SaaS-based Business Analytics Market Share, SaaS-based Business Analytics Market Size, SaaS-based Business Analytics Market Trends
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The global SaaS-based business analytics market is expected to register a CAGR of around 14% over the period of 2022-2028. This is mainly due to the growing acceptance of cloud computing among various industries, increasing use of business analytics to drive process and cost efficiencies, and increasing applications of artificial intelligence (AI) and big data analytics in businesses. SaaS-based business analytics software helps enterprises interpret and analyze business data by enabling continuous research and exploration of past business performance and uncovering actionable insights for business strategy. It helps enterprises in discovering patterns and connections between data streams and automate tasks and processes for real-time decision-making.
Based on deployment, the market is classified into on-premises and cloud. The on-premises segment captured a significant share of the global SaaS-based business analytics market and is expected to witness robust CAGR during the forecast period, owing to the high preference for this type of deployment to have complete control over confidential data and less dependency on the internet in case of internet interruption.
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By organization size, the market is bifurcated into large enterprises and SMEs. Among these two, the large enterprises seized a considerable share of the global SaaS-based business analytics market mainly due to the need for enhanced customer experience, improved efficiency, reduced manufacturing cost, better product management, etc. Moreover, business analytics gives businesses an excellent overview and insight into how companies can become more efficient, and these insights enable such businesses to optimize and automate their processes.
For a better understanding of the market adoption of SaaS-based business analytics, the market is analyzed based on its worldwide presence in the countries such as North America (US, Canada, Rest of North America), Europe (Germany, France, Spain, UK, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific), Rest of World. North America is expected to grow at a steady growth rate owing to the presence of key market players in the region and the quick adoption of new technologies. In addition, the increasing focus on artificial intelligence (AI) and big data analytics in the major economies in the region is further contributing to the growth of this market.
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Some of the major players operating in the SaaS-based business analytics market are GoodData Corporation, Oracle Corporation, International Business Machines Corporation, MicroStrategy Incorporated, OpenText Corporation, QlikTech International AB, SAP SE, SAS Institute Inc., Microsoft Corporation, and TIBCO Software Inc.
Global SaaS-based Business Analytics Market Segmentation
Market Insight, by Deployment
Market Insight, by Organization Size
- Large Enterprises
Market Insight, by Industry
- Information and Communication Technology
- Banking and Financial Services
Market Insight, by Region
- North America
- Rest of North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Top Company Profiles
- GoodData Corporation
- Oracle Corporation
- International Business Machines Corporation
- MicroStrategy Incorporated
- OpenText Corporation
- QlikTech International AB
- SAP SE
- SAS Institute Inc.
- Microsoft Corporation
- TIBCO Software Inc.