Cloud-based Business Analytics Software Market is estimated to be US$ 159.2 billion by 2032; Increasing Adoption of Cloud-based Technology to Propel Market Growth

Download Sample

Published Date: May 2023

Cloud-based Business Analytics Software Market or cloud BI is the process of transformation of data in actionable insights in partially or fully manner within cloud environment. Cloud-based Business Analytics Software it gives organizations the information which they need to make data-driven decisions without any cost.

Rising demand for Cloud-based Business Analytics Software and increasing customer awareness about various benefits of cloud-based business analytics software such as its higher performance, easy access to key business metrics, helps in increasing revenue, lower costs, which result in growth of target market. Further, rising popularity of social media marketing in turn, is expected to drive the Cloud-based Business Analytics Software market growth over the forecast period.

The report “Cloud-Based Business Analytics Software Market, By Type (Private Cloud, Public Cloud, and Hybrid Cloud), By Application (Customer Analytics, Supply Chain Analytics, Marketing Analytics, and Pricing Analytics), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2032”

Key Highlights:

In November 2022, IBM launched new software to break down data and analytics silos to make data-driven decisions quickly and to navigate unpredictable disruptions. Newly launched software solution includes, new “IBM Analytics Content Hub” to bring together the business intelligence solutions from multiple vendors.
In February 2023, Alteryx launched general availability of its Analytics Cloud Platform which includes, redesigned user interface for Designer Cloud and new decision intelligence featured within Auto Insights that enable users to automate data and analytic processes

Analyst View:

The key factor driving the growth of the Cloud-based Business Analytics Software market is rising data connectivity by hybrid and multi-cloud environments. Further, growing adoption of digital technologies, cost benefits of cloud-based services, massive rise in big data has become key factor in adding value to cloud analytics which is expected to provide opportunities for businesses operating in different verticals in cloud market. Furthermore, increasing adoption of hybrid models and Omni Cloud systems is expected to fruitful the demand for Cloud-based Business Analytics Software market growth in coming years.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Cloud-Based Business Analytics Software Market, By Type (Private Cloud, Public Cloud, and Hybrid Cloud), By Application (Customer Analytics, Supply Chain Analytics, Marketing Analytics, and Pricing Analytics), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2032”

Key Market Insights from the report:

Cloud-based Business Analytics Software Market accounted for US$ 53.4 billion in 2022 and is estimated to be US$ 159.2 billion by 2032 and is anticipated to register a CAGR of 10.9%. The Cloud-based Business Analytics Software Market is segmented based on Type, Application, and Region.

Based on Type, Cloud-based Business Analytics Software Market is segmented into Private Cloud, Public Cloud, and Hybrid Cloud.
Based on Application, Cloud-based Business Analytics Software is segmented into Customer Analytics, Supply Chain Analytics, Marketing Analytics, and Pricing Analytics.
By Region, the Cloud-based Business Analytics Software Market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa.

Competitive Landscape & their strategies of Cloud-based Business Analytics Software Market:

The prominent players operating in the Cloud-based Business Analytics Software Market includes, Varsity Brands, Inc., Bison, Inc., Draper, Inc., Aalco Metals Limited, Gared Holdings, Inc., WE LLC company, Goalsetter Systems, Inc., Lifetime Products, Inc., First Team Sports, Inc., Porter Athletic, Inc., and others.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

About Prophecy Market Insights

Prophecy Market Insights is specialized market research, analytics, marketing/business strategy, and solutions that offers strategic and tactical support to clients for making well-informed business decisions and to identify and achieve high-value opportunities in the target business area. We also help our clients to address business challenges and provide the best possible solutions to overcome them and transform their business.

Some Important Points Answered in this Market Report Are Given Below:

Explains an overview of the product portfolio, including product development, planning, and positioning
Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
Detailed analysis of the market revenue over the forecasted period.
Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
Study on the segments that are anticipated to dominate the market.
Study on the regional analysis that is expected to register the highest growth over the forecast period