Harrisburg, NC -- (SBWIRE) -- 10/30/2020 -- The Market Insights Reports has added a new statistical market report to its repository titled as, Business Analytics & Enterprise Software Market. It provides the industry overview with market growth analysis with a historical & futuristic perspective for the following parameters; cost, revenue, demands, and supply data (as applicable). Furthermore, the report also sheds light on recent developments and technological platforms, in addition to distinctive tools, and methodologies that will help to propel the performance of industries. The report also presents forecasts for Business Analytics & Enterprise Software investments from 2020 to 2023.
The global business analytics & enterprise software market is expected to grow from $255.8 billion in 2019 to $260.4 billion in 2020 at a compound annual growth rate (CAGR) of 1.9%. The low growth is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 13% from 2021 and reach $362.3 billion in 2023.
Top Leading Companies of Global Business Analytics & Enterprise Software Market are SAP; SAS Institute; IBM Corporation; Oracle Corporation; Tableau Software Inc and others.
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Asia Pacific was the largest region in the global business analytics & enterprise software market, accounting for 38% of the market in 2019. North America was the second largest region accounting for 37% of the global business analytics & enterprise software market. Africa was the smallest region in the global business analytics & enterprise software market.
Over the past five years there has been an increasing prevalence of low-cost open source alternatives. Open source has become a preferred platform for developing new technology. In the past, software product companies would open source software that was not making money, but now companies are open sourcing software to increase its presence and share in the market. According to Allison Randal, President, Open Source Initiative, 78% of companies use open source solutions and 64% participate in open source projects indicating an increase in open source software platforms to build applications in 2015.
The business analytics and enterprise software market consists of sales of business analytics and enterprise software by entities (organizations, sole traders and partnerships) that produce business analytics and enterprise software designed to analyze business data to better understand an organization's strengths and weaknesses.
Enterprise Software is a software used to satisfy the needs of an organization rather than individual users. Such organizations include businesses, schools, interest-based user groups, clubs, charities, and governments.
Markets Covered:
1) By Type: ERP Software; BI Software; CRM Software; SCM Software; Other Software
2) By End-User Industry: IT and Telecommunications; BFSI; Manufacturing; Retail; Healthcare; Education; Media; Others
3) By Deployment Model: On-Demand/Cloud; On-Premise
Important Features that are under Offering and Key Highlights of the Reports:
– Detailed overview of Market
– Changing market dynamics of the industry
– In-depth market segmentation by Type, Application etc.
– Historical, current and projected market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of Business Analytics & Enterprise Software Market
– Strategies of key players and product offerings
– Potential and niche segments/regions exhibiting promising growth
Geographically, this report is segmented into several key Regions, with sales, revenue, Market Share (%) and Growth Rate (%) of Business Analytics & Enterprise Software in these regions, from 2015 to 2020(forecast), covering Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Furthermore, the report provides a detailed analysis of the global Business Analytics & Enterprise Software market with an analysis of market size by value and volume. Along with this, an analysis of the penetration rate and the average revenue generated per user (ARPU) in the market has also been done. The report also includes a detailed analysis of the global Business Analytics & Enterprise Software market by countries, comprising of its market by value, volume, and ARPU and penetration rate.
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Research uses a bottom-up approach to assess the overall size of the market. Data from different industries and end-user industries and their applications across different product types are recorded and forecast during the forecast period. These segments and sub-segments are documented by industry experts and experts, as well as company representatives, and by analyzing data from these segments and sub-segments over the last few years, externally verified to gain market size.
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Note: All the reports that we list have been tracking the impact of COVID-19 the market. Both upstream and downstream of the entire supplychain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.
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