Software Analytics Market Leading Growth Drivers, Future Estimation and Industry Outlook 2027
Market Highlights
According to
Market Research Future (MRFR), the global software analytics market is
projected to grow at approximately USD 11.5 billion at a 10% CAGR between 2017
and 2023 (forecast period). The study offers a precise assessment of the
effects of COVID-19 on current / future market conditions. The report also
highlights key market factors that will affect the growth of this sector, such
as market share, top region, and global companies.
Software
analytics can be described as a branch of data analytics. Software analytics is
designed to conduct a specific kind of analytics related to software systems.
The software monitors, predicts, and improves the performance and effectiveness
of software development.
Market
Dynamics
The key drivers
of the market for software analytics include increasing competition between
companies and the demand for improved software analytics. Increasing
competition creates an opportunity for businesses to collect efficient data
related to software development, thereby, boosting the software analytics
market.
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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.
Regional
Analysis
The regional
analysis of the software analytics market is being studied for regions such as
the Asia Pacific, Americas, Europe, and the Rest of the World.
The North
American region has the largest market share in the market for software
analytics due to the involvement of major players in the region and the
adoption of software analytics solutions by small and large companies. Countries
like the United States and Canada contribute a substantial amount of revenue to
the software analytics industry. The Asia Pacific region is expected to rise at
the highest CAGR. Enterprises in the area are investing heavily in software
analytical tools to increase business performance and competitiveness, and
rising software companies in the region are improving the demand in the region.
Key Players
The industry
giants in the global software analytics market are – SAP SE (Germany), Tableau
Software (U.S.), SAS Institute (U.S.), International Business Machine (U.S.),
Oracle Corporation (U.S.), Microsoft Corporation, Qlik (U.S.), Teradata
Corporation (U.S.), Microstrategy, Inc. (U.S.), Informatica (U.S.) and
others.
International
Business Machine is one of the leading industry participants in the market for
software analytics. IBM has developed an analytics software that offers a
complete data and analytics solution. It provides an analytical approach that
generates possibilities for all forms of data from different sources, both
within and outside the enterprise. SAP SE, a major player in the market for
software analytics, provides a wide variety of solutions in analytics. It
offers business intelligence, predictive analytics, and business performance management
solutions.
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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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