SaaS-based Business Analytics Market by End-user and Geography - Forecast and Analysis 2022-2026

The SaaS-based business analytics market share is expected to increase to USD 10.70 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 14.19%.

This SaaS-based business analytics market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers SaaS-based business analytics market segmentation by end-user (retail, BFSI, telecom, healthcare, and others) and geography (North America, Europe, APAC, South America, and Middle East and Africa). The SaaS-based business analytics market report also offers information on several market vendors, including Accenture Plc, Board International SA, Global Software LLC, GoodData Corp., Infor Inc., International Business Machines Corp., Microsoft Corp., MicroStrategy Inc., Open Text Corp., Oracle Corp., Planful Inc., QlikTech International AB, Salesforce.com Inc., SAP SE, SAS Institute Inc., Sisense Inc., Splunk Inc., Tableau Software LLC, Teradata Corp., and TIBCO Software Inc. among others.

What will the SaaS-based Business Analytics Market Size be During the Forecast Period?

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SaaS-based Business Analytics Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a positive impact on the market growth during and post-COVID-19 era. The shift toward SOA is notably driving the SaaS-based business analytics market growth, although factors such as bandwidth and connectivity issues may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the SaaS-based business analytics industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key SaaS-based Business Analytics Market Driver

• One of the key factors driving growth in the SaaS-based business analytics market is the shift toward SOA.
• Service-oriented architecture (SOA) provides an IT framework that helps companies to manage the IT infrastructure with greater flexibility. Due to the growing innovation in products and services, SMBs require IT frameworks that reduce the time to market.
• The SOA solutions offered by IBM help enterprises connect with their channel partners and stakeholders on an integrated platform.
• The SOA architecture provides loosely coupled architecture and design applications; services and codes that can be reused. Loosely coupled architectures ensure that an application running in a cloud-based environment does not intersect with other applications.
• Vendors in the market are also helping enterprises to migrate their ICT framework to SOA-based IT architecture to implement cloud-based business analytics solutions and services.

Key SaaS-based Business Analytics Market Trend

• The rising demand for data integration and visual analytics is a SaaS-based business analytics market trend that is expected to have a positive impact in the coming years.
• aaS-based data integration solutions help enterprises to integrate their back-office systems with database management systems.
• The integration of a business analytics tool allows organizations to streamline their workflows and enables users to access a large set of data that is stored in database management systems.
• Enterprises are integrating data with business intelligence systems to explore and analyze various types of data sets, such as sales data, for the decision-making process.
• The visual analytics features of SaaS-based business analytics are used to highlight key points and metrics through several types of graphical reorientations. Microsoft provides a range of interactive visual analytics representations in its Power BI (a SaaS-based business analytics solution).

Key SaaS-based Business Analytics Market Challenge

• The bandwidth and connectivity issues will be a major challenge for the SaaS-based business analytics market during the forecast period.
• Accessing terabytes of data from cloud-based storage systems requires efficient IT systems that are free from networking blockages.
• Cloud-based solutions are deployed to gain faster data access and run business operations. 
• Connectivity issues in the ICT infrastructure can reduce business performance, and enterprises may shift to on-premises solutions. Accessing cloud computing services via online channels from remote locations should be free from packet loss and latency issues to meet service level agreements for increased performance.
• Efficient connectivity helps SaaS-based business analytics software testers to continue their testing processes without any interruption in servers and data centers.
• Vendors must provide backup and recovery solutions to recover the data from SaaS-based business analytics software due to a network failure.

This SaaS-based business analytics market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global software-as-a-service (SaaS)-based business analytics market as a part of the global application software market within the global IT software market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the SaaS-based business analytics market during the forecast period.

Who are the Major SaaS-based Business Analytics Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

• Accenture Plc
• Board International SA
• Global Software LLC
• GoodData Corp.
• Infor Inc.
• International Business Machines Corp.
• Microsoft Corp.
• MicroStrategy Inc.
• Open Text Corp.
• Oracle Corp.
• Planful Inc.
• QlikTech international AB
• Salesforce.com Inc.
• SAP SE
• SAS Institute Inc.
• Sisense Inc.
• Splunk Inc.
• Tableau Software LLC
• Teradata Corp.
• TIBCO Software Inc.

 

This statistical study of the SaaS-based business analytics market encompasses successful business strategies deployed by the key vendors. The SaaS-based business analytics market is fragmented and the vendors are deploying growth strategies such as offering multiple features in the products to compete in the market.

Product Insights and News

• ibm.com - The company offers SaaS-based business analytics namely IBM Cognos Analytics which is a web-based integrated business intelligence suite.

• ibm.com - The software segment offers software platforms and solutions, which enable clients to predict, automate, secure and modernize their solutions, on a secure hybrid cloud. Under this segment, the company operates three business areas, namely Cognitive Applications, Cloud and Data Platforms, and Transaction Processing Platforms.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The SaaS-based business analytics market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

SaaS-based Business Analytics Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the SaaS-based business analytics market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for SaaS-based Business Analytics Market?

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34% of the market’s growth will originate from North America during the forecast period. The US is the key market for SaaS-based business analytics in North America. Market growth in this region will be slower than the growth of the market in the European, APAC, and South American regions.

In North America, companies focus on reducing maintenance costs and upgrading the software programs that are already installed. This has led to an increase in the demand for cloud computing solutions. This will facilitate the SaaS-based business analytics market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The COVID-19 pandemic had a favorable influence on the SaaS-based business analytics market in this region in 2020. Owing to the pandemic, governments in many nations around the region-imposed lockdowns in 2020, forcing people to stay at home in order to prevent the virus from spreading. As a result, industries across the region were forced to undertake numerous trade activities online, leading to the widespread use of cloud computing for better storage of data, in North America, 

What are the Revenue-generating End-user Segments in the SaaS-based Business Analytics Market?

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The SaaS-based business analytics market share growth by the retail segment will be significant during the forecast period. The outbreak of COVID-19 had a negative impact on the retail sector, owing to the nationwide lockdown in several countries. However, the increasing adoption of cloud-based applications is expected to contribute to the growth of the market during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the SaaS-based business analytics market size and actionable market insights on the post-COVID-19 impact on each segment.

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SaaS-based Business Analytics Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 14.19%
Market growth 2022-2026	$10.70 billion
Market structure	Fragmented
YoY growth (%)	12.8
Regional analysis	North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution	North America at 34%
Key consumer countries	US, China, Japan, Germany, and UK
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Accenture Plc, Board International SA, Global Software LLC, GoodData Corp., Infor Inc., International Business Machines Corp., Microsoft Corp., MicroStrategy Inc., Open Text Corp., Oracle Corp., Planful Inc., QlikTech international AB, Salesforce.com Inc., SAP SE, SAS Institute Inc., Sisense Inc., Splunk Inc., Tableau Software LLC, Teradata Corp., and TIBCO Software Inc.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this SaaS-based Business Analytics Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive SaaS-based business analytics market growth during the next five years
• Precise estimation of the SaaS-based business analytics market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the SaaS-based business analytics industry across North America, Europe, APAC, South America, and Middle East and Africa
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of SaaS-based business analytics market vendors

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