Market Highlights
According to Market Research Future (MRFR), the global software analytics market is projected to grow at approximately USD 13.2 billion at a 10.40% CAGR between 2022 and 2030 (forecast period).
Market Synopsis
Software analytics help developers in getting insightful conclusions on software buying behaviour of customers. The software analytics technology facilitates software developers to keep them informed for making accurate decision on design of certain software. This is expected to catapult the worldwide software analytics market on an upward direction in the evaluation period.
Data provided by software analytics aids in designing innovations. Hence, is expected to gain high traction for its market, globally. The expansion of product portfolios of major players of the market coupled with the surge in investments made by them are likely to gain momentum of the software analytics market in the coming years.
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The rising competition among enterprises and the increase in the requirement for improved and more effective software analytical tools and solutions are other causes that are expected to propel the market growth. The revenue creation for the software analytics market is expected to be high in the years to come. This is because of the rapid industrialization, which is triggering the enterprise to adopt latest technologies for quick growth.
Segmentation:
The global software analytics market has been segmented on the basis of service, deployment, organization size, and vertical.
On the basis of service, the global software analytics market has been segmented into professional service and support and maintenance services.
Based on deployment, the global software analytics market has been segmented into cloud and on-premise.
Based on organization size, the global software analytics market has been segmented into small & medium enterprises and large enterprises. Small and medium enterprises account for the largest market share.
On the basis of vertical, the global software analytics market has been segmented into government & defense, BFSI, IT & Telecommunication, healthcare, retail, travel & hospitality, manufacturing, transportation & logistics, media & entertainment, others. BFSI sector is predicted to account for the highest market share in the software analytics market.
Detailed Regional Assessment
The global market of software analytics is studied for Americas, Europe, Asia Pacific, and the Rest of the World. The market in North America is expected to spearhead the global market of software analytics. The market in US is anticipated to remain highly lucrative in the evaluation period. The consolidation of regional key players can lead to the augmentation of the North America software analytics market. Europe is a crucial growth pocket of the global software analytics market.
The market in the European region is noted to have significant growth opportunities. The intensifying competition between business enterprises and rise in the deployment of software developers are considered to drive the expansion of the software analytics market in Europe.
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The market in Asia Pacific is expected to tap into the highest CAGR in forecast years. The increase in developmental activities by major players in the region is also expected to surge the market in APAC. The APAC software analytics market is poised to generate considerable revenue in the year of evaluation. The increase in investments made by eminent players in the Europe software analytical market is expected to gain high profit for the market. The changing dynamics of the business sector is expected to influence the Europe market.
Competitive Dashboard
Market Research Future states some of the well-known companies functioning in the global market of software analytics. They include; International Business Machine (U.S.), SAP SE (Germany), Oracle Corporation (U.S.), Tableau Software (U.S.), SAS Institute (U.S.), Qlik (U.S.), Microsoft Corporation (U.S.), Informatica (U.S.), Microstrategy, Inc. (U.S.), and Teradata Corporation (U.S.).
Global Software Analytics Market, By Service (Professional Service, Support and Maintenance Service), By Deployment (Cloud, On-Premise), By Vertical (IT & Telecommunication, Healthcare, BFSI, Retail) - Forecast 2023
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