Market Highlights:
Software analytics can be defined as a branch of data analytics. Software analytics is designed to perform specific type of analytics related to software systems. This software monitor, predict and improve the performance and effectiveness of software development.
The key drivers of software analytics market includes rising competition between businesses and growing demand for improved software analytics is fueling the software analytics market growth. According to the study, by vertical segment BFSI sector is expected to account for highest market share in software analytics market. By organization size segment, small and medium enterprises accounts for largest market share. Increasing competition creates opportunity for businesses to collect efficient data of related to software development is one of the prime factor boosting software analytics market.
International Business Machine is one of the prominent market players in software analytics market. IBM has designed analytics software that provides a complete solution over data and analytics. It offers analytics solution that creates opportunities in all types of data from numerous sources, within and outside the organization. SAP SE a major player in software analytics market offers a wide range of solutions in analytics. It provides business intelligence, predictive analytics and enterprise performance management solutions.
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Major Key Players
SAP SE (Germany),
SAS Institute (U.S.),
International Business Machine (U.S.),
Oracle Corporation (U.S.),
Tableau Software (U.S.),
Microsoft Corporation, Qlik (U.S.),
Teradata Corporation (U.S.),
Microstrategy, Inc. (U.S.),
Informatica (U.S.)
The software analytics market is expected to grow at approximately USD 11.5 Billion by 2023, at 10% of CAGR between 2017 and 2023.
Market Segmentation
The software analytics market has been segmented on the basis of deployment, service, organization size and vertical. The cloud based software analytics solution provides search filters in terms of website traffic, most popular site and measure campaign performance. Cloud solution enable organization by providing drag and drop function and offers roll-based workflow. The study indicates that growing demand of digitally stored data and cloud computing is driving the on-premise deployment service.
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The software analytics market in North America region is growing due to high adoption of cloud solutions by enterprise and need to improve information governance in organizations. According to the study, the software analytics market will show rapid growth in Europe region. Asia-Pacific market is estimated to be one of the fastest growing market as it is continuously investing into research and development of software analytics market and growing analytics trends to attract more users is driving software analytics market in the region. Increasing population, and growing IT landscape is boosting the market in the region. The region is witnessing high adoption of software analytics tools by enterprises. Developing countries such as India and China are adopting software analytics tools at large scale owing to high amount of data generation from numerous industries and the need to designed software to store those data and for efficient management of business is one of the prime factor that is boosting the market in the region. By vertical segment, BFSI and retail sector is driving the software analytics market. The region is witnessing high growth in software analytics market due to growing technological advancement in cloud, analytics and business intelligence.
Intended Audience
- Investors and consultants
- System Integrators
- Government Organizations
- Research/Consultancy firms
- Technology solution providers
- IT Solution Providers
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