The global Business Analytics Software Market is expected to reach a considerably large market size in 2028 and register a high CAGR over the forecast period. Industry analysis indicates that rising demand for enterprise business analytics software in industries, such as healthcare and manufacturing, is driven by changing market trends, which are expected to support industry growth as well as market growth over the forecast period.

The Business Analytics Software Market comprises activities such as development and distribution of software solutions for customer relationship management (CRM), business analytics, business intelligence (BI), predictive analysis, and collaboration. It also includes training and consulting services related to this software. Currently, IT companies are focusing on design and development of effective business analytics tools. These software solutions can prove to be useful for businesses and data analysts.

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Key Players Operating in Global Business Analytics Software Market:

  • Microsoft Corporation
  • Oracle Corporation
  • IBM Corporation
  • SAP AG
  • Tableau Software Inc
  • QlikTech International AB
  • Tibco Software Inc
  • MicroStrategy Inc
  • SAS Institute Inc.
  • EMC Corporation
  • Symantec Corporation
  • HP
  • CA Technologies Inc.
  • VMware Inc.

Here are the driving factors of the Business Analytics Software Market:

  1. Low interest rates and tax benefits for IT infrastructure upgrades drive companies to incorporate changes in their existing IT infrastructure.
  2. Technological advancements in enterprise business analytics software and rising demand from small-scale enterprises for enterprise resource planning software and customer relationship management software are boosting market growth.
  3. The increase in the volume of data generated across organizations is driving the need for resources to help businesses rapidly interpret, process, and maximize data, which is boosting market growth.
  4. Changing market trends, such as the rising demand for enterprise business analytics software in industries such as healthcare and manufacturing, are expected to support industry growth as well as market growth over the forecast period.
  5. The deployment of data-driven activities in different sectors, such as healthcare, retail, transport, and logistics, is projected to boost demand for enterprise business analytics software in the next few years.

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