Published on : Jul 25, 2017
Albany, New York, July 25, 2017: The global software as a service (SaaS)-based business analytics market has been projected to exhibit a strong CAGR of 25.84% for the forecast period 2017–2021. According to a market research report, titled “Global SaaS-based Business Analytics Market 2017–2021”, the exponential rise in data could be key for improving growth prospects in the industry. For the course of the forecast period, the analysts have presented a broad account of the current scenario and growth opportunities predicted to take shape in the market.
Although there are enough driving factors that have anticipated for the world SaaS-based business analytics market by the analysts, players could be challenged by some limitations in their growth journey. One of them has been expected to be the threat from vendors of open-source business analytics. However, there could be certain trends improving the situation in the market. These could be the rising interest in supply chain visibility by several organizations, advancement of artificial intelligence (AI), and magnifying demand for visual analytics and data integration. More opportunities could be birthed in the market with the surged adoption of mobile-based business analytical tools and advent of sophisticated analytical tools.
The 68-page market intelligence publication has segmented the world SaaS-based business analytics market into energy and utilities, healthcare, media and entertainment, telecom, retail, and banking, financial services, and insurance (BFSI) by end use. In the list of exhibits, the report has provided the shares of each end-use market for the review period 2016–2021. By geography, the analysts have categorized the market into three broad regions, viz. Europe, the Middle East and Africa, Asia Pacific, and the Americas. Similarly, for regional share distribution, the list of exhibits has presented all of these geographies.
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With inputs from important entities and industry experts, the authors of the report have prepared an in-depth analysis to provide a complete study of the international SaaS-based business analytics market. For the coming years, the vendor landscape of the market has been explicitly covered through detailed profiling of dominant companies such as TIBCO Software, Salesforce.com, SAS, Qlik, and Microsoft. However, other prominent companies have also been detailed in the report.
It is through cloud-based software deployment model that the implementation of SaaS-based business analytics software programs takes place. According to the National Institute of Standards and Technology (NIST), could computing could be defined as a model that allows on-demand, convenient, and ubiquitous network access to a shared group of configurable computing resources, including services, applications, storage, servers, and networks. The preference for operating expenses (OPEX) business model over capital expenditure (CAPEX) has been anticipated to augur well for the market since the former could promote the adoption of cloud computing solutions in a range of industry verticals.
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