Business Analytics Market To be worth $71.1 billion by 2022 Know about the Qualitative and Quantitative Factors driving the market

Key players profiled in this report are IBM, Infor, Tibco Software, Inc., Microsoft Corporation, MicroStrategy Incorporated, Oracle Corporation, QLIK Technologies, Inc., SAP SE, SAS Institute, Inc. and Tableau Software, Inc.

Houston, United States - June 11, 2018 /MarketersMedia/ —

Business Analytics Market is estimated at $44.5 billion in 2015 and is expected to reach $71.1 billion by 2022 growing at a CAGR of 6.9% from 2015 to 2022. The factors that are influencing the market growth include rising demand for the analytics by the organizations due to the growing big data trend, quickly changing business environment and customer choices. However, high execution costs and unwillingness in adoption of business analytics are some factors hindering the market growth. Moreover, scarcity of skilled workers with sound technical capabilities poses major challenge to the market.
Amongst applications, Banking, financial services & insurance (BFSI) and retail industries acquired maximum market share. Tableau was the fastest growing business analytics software company, growing around 80% in a year. North America commanded the largest market share as this region encourages the implementation of business analytics across its diverse organizations followed by Europe. Asia Pacific is extensively witnessing rise in the acceptance of business analytics.

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The key players in the global business analytics market are IBM, Infor, Tibco Software, Inc., Microsoft Corporation, MicroStrategy Incorporated, Oracle Corporation, QLIK Technologies, Inc., SAP SE, SAS Institute, Inc. and Tableau Software, Inc.
Deployment Types Covered: n-site Cloud
Applications Covered: Telecom and IT, Retail, Media and Entertainment, Manufacturing, Healthcare, Government, Energy and Power, Education, Banking, Financial Services and Insurance and other Applications, Software Covered, Search and altering, Advanced and Predictive Analytics, Performance and Big Data Management, Data Discovery and Visualization software, Content Analytics, Business Intelligence, Corporate Performance Management suites, other Software
End Users Covered: Small & Medium Business (SMB), Large Scale Enterprises, Services Covered: Managed Services, Professional Services
Regions Covered: North America, US, Canada, Mexico, Europe, Germany, France, Italy, UK, Spain, Rest of Europe, Asia Pacific, Japan, China

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Major players in the market are identified through secondary research and their market revenues determined through primary and secondary research. Secondary research included the research of the annual and financial reports of the top manufacturers; whereas, primary research included extensive interviews of key opinion leaders and industry experts such as experienced front-line staff, directors, CEOs and marketing executives. The percentage splits, market shares, growth rate and breakdowns of the product markets are determined through using secondary sources and verified through the primary sources.
The report includes an extensive coverage of the various aspects of the global Business Analytics market. It serves as a reliable business tool for both existing and new players in the market and aids them in formulating business strategies.
Business Analytics systems help in maintaining updated information of patients, cut down healthcare costs, and enhance efficiency and accuracy. Owing to these benefits, they are being increasingly acknowledged by many physicians around the globe. Moreover, favorable initiatives introduced by several governments worldwide are promoting the adoption of Business Analytics systems for healthcare facilities. The emergence of digital and connected healthcare technologies is also providing a significant push to the market.

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