SaaS-based Business Analytics Market: Introduction
- SaaS-based business analytics is a cloud-based model in which a third-party provider hosts business analytics tools such as reports and dashboards to enterprises in a protected online location, with less complex and flexible pricing.
- SaaS-based business analytics is one of the cloud computing solutions used by retail, BFSI, healthcare, and other industries. Economic conditions and uncertain business could result in increased cost pressure. Hence, these industries are deploying SaaS-based business analytics, to create cloud-based infrastructure according to their business requirements.
- During the COVID-19 pandemic outbreak, governments and the WHO (World Health Organization) are increasingly adopting SaaS- based business analytics, in order to deeply analyze the impact of coronavirus across the world. This in turn is expected to accelerate the SaaS-based business analytics market. In addition, SaaS-based business analytics providers are empowering advanced technology in innovative ways to help enterprises and customers across various industries to fight the coronavirus outbreak. This is boosting the growth of the SaaS-based business analytics market across the globe.
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Global SaaS-based Business Analytics Market: Market Dynamics
- Rising adoption of SaaS-based business analytics in the retail sector due to the continuous development of e-commerce technologies is expected to trigger the growth of the SaaS- based business analytics market. Retailers make the most of profits by implementing management information systems and analytical tools, which can decrease their capital expenditure. This enhances the demand for SaaS- based business analytics in retail industry.
- Growing popularity of the operating expenses (OPEX) business model across numerous industry verticals is expected to boost the growth of the SaaS- based business analytics market during the forecast period.
- Demand for SaaS-based business analytics is high in small & medium-sized enterprises due to its low cost and enhanced usability, in turn accelerating the growth of the SaaS- based business analytics market.
- Growing adoption of mobile based business analytical tools is a factor which can empower the SaaS-based business analytics market. Mobile phones and smartphones are integrated with analytical software applications, so as to identify potential customers using these technologies, which fuels the growth of the SaaS-based business analytics market.
North America to Account for Major Share of the Global SaaS-based Business Analytics Market
- In terms of region, the global SaaS-based business analytics market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- North America is anticipated to lead the global SaaS-based business analytics market, due to well-established players in the region who focus on innovations and build capabilities to differentiate their products from their competitors. This factor accelerates the growth of the SaaS-based business analytics market in the North America region.
- The SaaS-based business analytics market in Asia Pacific is expected to hold significant share due to rising number of small & medium sized enterprises in developing countries such as India and China. In addition, rising awareness among organizations about SaaS-based business analytics is expected to trigger the growth of the market across Asia Pacific.
Global SaaS-based Business Analytics Market: Competitive Landscape
Key Players Operating in the Global SaaS-based Business Analytics Market
Companies operating in the SaaS-based business analytics market are increasingly investing in research and development to develop new and innovative techniques to provide SaaS-based business analytics software. The SaaS-based business analytics market is highly fragmented with the presence of numerous manufacturers in both developed and developing regions. Key players operating in the global SaaS-based business analytics market include:
- GoodData Corporation.
- IBM Corp.
- Microsoft Corp.
- MicroStrategy Incorporated.
- Open Text Corporation.
- Oracle Corp.
- QlikTech international AB
- Salesforce.com Inc.
- SAP SE
- SAS Institute Inc.
- Teradata
- TIBCO Software Inc.
Global SaaS-based Business Analytics Market: Research Scope
Global SaaS-based Business Analytics Market Segmentation, by Deployment
- Cloud
- On-premise
Global SaaS-based Business Analytics Market Segmentation, by Enterprise
- Small & Medium
- Large
Global SaaS-based Business Analytics Market Segmentation, by End-user
- Retail
- BFSI
- IT & Telecom
- Healthcare
- Others (energy and utilities)
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
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