Published Date : Jul 17, 2017
Albany, New York, July 17, 2017: A recent report added to the portfolio of MarketResearchReports.biz focuses on the global market for SaaS-based business analytics. The report, titled “Global SaaS-based Business Analytics Market 2017-2021,” states that the market will expand at an exponential 26% CAGR from 2017 to 2021. One of the key factors projected to drive the market is the increased preference to operating expenses (OPEX) business model across a number of industries owing to the vast benefits that the business model offers as compared to the capital expenditure (CAPEX) model.
The rising adoption of mobile-based business analytics is projected to be one of the key trends to gather pace in the next few years. As organizations begin to understand the usage of data collected from smartphones integrated with business analytics tools and services such as location-based mobile technologies to identify potential customers, the demand for SaaS-based business analytics tools will increase.
On the basis of end-user, the SaaS-based business analytics market has been segmented in the report into media and entertainment, healthcare, energy and utilities, banking, financial services, and insurance (BFSI), retail, and telecom. In 2016, the BFSI segment held the dominant share in the global SaaS-based business analytics market and is expected to continue to remain the top consumer of SaaS-based business analytics solutions over the forecast period. The rising preference of financial institutions to SaaS-based business analytics tools to bring about a reduction in the cost involved in establishing IT infrastructure will continue to keep the demand SaaS-based business analytics tools strong across the BFSI sector.
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From a geographical standpoint, the market for SaaS-based business analytics has been covered for Americas (North America and South America), APAC (Asia Pacific), and EMEA (Europe, Middle East, and Africa). The report estimates that the market in Americas is projected to emerge as the leading revenue contributor to the global market throughout the report’s forecast period. The vast rise in the use of analytics tools and services in industries such as healthcare and BFSI is expected to drive the market in the region. Moreover, the mounting rise in the use of cloud-based analytics across organizations in the region’s industrial section will also auger well for the SaaS-based business analytics market in the near future.
The global SaaS-based business analytics market has a highly competitive vendor landscape. The large number of companies in the market compete on the basis of factors such as such as cost and product features. Moreover, companies also focus on the development of customized products to stay ahead in the game and strengthen their hold on the global marketplace. Some of the leading vendors in the global SaaS-based business analytics market are Qlik, Microsoft, Salesforce, TIBCO Software, SAS, IBM, Birst, BRIDGEi2i, MicroStrategy, OpenText, BOARD International, GoodData, Host Analytics, Logi Analytics, Oracle, SAP AG, Sisense, Teradata, Tableau Software, and Zoomdata.
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