Market Synopsis:

As per the latest study published by Market Research Future (MRFR), the global software analytics market is set to strike a CAGR of 10% during the forecast period 2017 to 2023. The market is estimated to reach a valuation of USD 11.5 Bn by the end of the assessment period. The focus on improving the effectiveness and efficiency of software development has accelerated the deployment of software analytics all across the world. The trend is projected to perpetuate in the forthcoming years.

Software analytics help the developers in drawing insightful conclusions regarding software buying behavior. It facilitates informed decision making which is poised to catapult the software analytics market on an upward trajectory for the next few years.

The information extracted with the help of software analytics facilitates innovation and development of the market. The endeavors directed towards the expansion of the portfolios of the key players coupled with increasing investments is likely to expedite the momentum of the software analytics market expansion. This is forecasted to have a positive impact on the growth of the market in the foreseeable future. The rising competition among business enterprises and the growing demand for improved software analytical tools are other significant factors that are expected to accelerate revenue creation for the market participants.

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Market Segmentation:

By service, the global software analytics market has been segmented into Professional Service, Support and Maintenance Service.

By deployment, the software analytics market has been segmented into cloud and on-premise.

By vertical, the global software analytics market has been segmented into IT & telecommunication, healthcare, BFSI, and retail.

Regional Insights:

The software analytics market, by region, has been segmented into Asia Pacific, Americas, Europe and the Rest of the World. North America is the largest market for software analytics and is likely to remain highly lucrative over the assessment period. The consolidation of the major players in the region is projected to augment the software analytics market over the next couple of years. The major country-level markets of the region are the U.S. and Canada.

Europe is an important growth pocket and is projected to resonate strong growth opportunities in the upcoming years. The growing competition between the business enterprises and increasing deployment of software is prognosticated to drive the growth of the software analytics market in the region.

Asia Pacific is estimated to strike the highest CAGR through the forecast period. The growth trajectory of the regional market is guided by the expansion and developmental activities initiated by the key players in the region. The regional software analytics market is set to witness increasing investments in software analytical tools. This, in turn, has been anticipated to accelerate the revenue creation for the participants of the software analytics market. The focus on the development of the efficiency of the business sector has revolutionized the market. The trend is likely to continue and influence the growth of the software analytics market positively over the assessment period.

Competitive Dashboard:

Some of the key players profiled in the report are SAP SE (Germany), International Business Machine (U.S.), Oracle Corporation (U.S.), SAS Institute (U.S.), Tableau Software (U.S.), Microsoft Corporation (U.S.), Qlik (U.S.), Microstrategy, Inc. (U.S.), Informatica (U.S.), and Teradata Corporation (U.S.).

Industry News:

In June 2018, Tableau Software, the U.S., acquired Empirical Systems, a startup spun out of MIT in 2016.

In October 2018, International Business Machine (IBM), an American multinational information technology company, has agreed to acquire Red Hat Inc., a software developer. The acquisition is worth USD 33.4 Bn.

In November 2018, SupplyPro®, a premier provider of inventory management solutions, has unveiled new SupplySystem Intelligent Software™ for inventory management. The software is embedded with analytics and case management.

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About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

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