Evolve Business Intelligence has published a research report on the Global Data Analysis Software Market, 2021–2030. The global Data analysis software market is projected to exhibit a CAGR of around 14.2% during the forecast period of 2022 to 2030.
Evolve Business Intelligence has recognized the following companies as the key players in the global Data analysis software market are IBM Corporation, Microsoft, Oracle, SAP, Amazon Web Services Inc, Tableau Software, SiSense Inc, Zoho Corporation Pvt Ltd, ThoughtSpot Inc, Mu Sigma, Looker Data Sciences Inc, Datameer Inc, Alteryx Inc, Dell Inc, SAS Institute Inc.
The global Data analysis software market is projected to be valued at USD 177.47 Billion by 2030, recording a CAGR of around 14.2% during the forecast period. Data analysis software is a sort of program that gathers, integrates, analyses, and delivers data to the user in an easy-to-understand format. Statistical packages, data mining software, database management software, and online tools are among the formats and tools available in the software. The software market is expected to experience growth in the future, due to the increase in demand for cloud-based data analytics software for reducing cost and time. Some of the key factors driving the market are increasing demand for data analytics due to increasing competition and globalization, and advancements in technology which are further facilitating users to analyze their data and bringing insights from various data sources. The global data analytics software market has been witnessing a rapidly growing demand for business analytics software due to a rise in competition and globalization across various industries such as retail and e-commerce, insurance, healthcare, manufacturing, automotive, and logistics. There is also an increasing number of data breaches which has increased the demand for tools that help to maintain the security of company data.
The COVID-19 outbreak had a positive impact on the Data analysis software markets. The outbreak caused many companies to change the way they were operating, and the software market was no different. There was an increase in the amount of data analysis software companies.
The global Data analysis software market has been segmented based on the type, deployment, application, and region.
By Type, the Data analysis software market is segmented based on Linux, Windows, Mac OS, Android, and IOS. The Linux segment is expected to dominate the data analysis software market. Due to its self-sustaining structure and highly efficient computation power, This operating system features a flexible environment that allows businesses to use the software without limitations.
Based on Deployment, the Data analysis software market is segmented based on On-premise and Cloud-based. The Cloud-based segment is expected to dominate the data analysis software market because of factors such as increased use of business analytics software by many enterprises, a surge in demand for cloud-based business analytics software among SMEs, and the numerous benefits provided by data analytics solutions.
Based on Application, the Data analysis software market is segmented based on SMEs, Large Enterprises, Other. The large enterprise segment is expected to dominate the data analysis software market because data analytics software and procedures convert raw data, organize data, and model data to make conclusions and discover patterns In large firms, data analytics techniques are frequently used to assist businesses in making better business decisions.
The Data analysis software market is divided into five regions: North America, Europe, Asia-Pacific, Latin America, Middle East & Africa. The North American region is projected to have the largest share of the global Data analysis software market, followed by Europe and Asia-Pacific regions. North America is among the most important markets for data analysis software. The main driver of this expansion is the rising demand for data analysis in North America, which has resulted in a rise in outsourcing and sharing of these processes with third parties, and also organizations automating their business operations with data analysis software. The Asia-Pacific region is seeing a growth in the number of commercial spaces and the number of people spending time inside of them. Furthermore, as internet penetration rises, changing with increasing urbanization, economic growth, and increased need for data-driven decision making, favorably boosting the region’s data analysis software business growth. The South American region is projected to grow at a fast pace in the forecasting period. The region has high internet connectivity and a skilled IT staff. This makes it an attractive location for organizations looking for new prospects in the data analysis software sector. The Middle East and Africa are experiencing significantly faster growth. This is owing to the expansion of the manufacturing and infrastructure sectors, which will fuel the growth of the data analysis software market in the region.