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Regression Analysis Tool Market

Regression Analysis Tool Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2031

Regression Analysis Tool - Introduction

  • Regression analysis is a set of statistical processes used to estimate relationships between dependent and independent variables based on samples available. This process is known as curve fitting or surface fitting, which is used for better predictions by using equations.
  • There are mainly two basic types of regression - linear and nonlinear. If the statistical parameters fits linearly in a normal equation then the model is known as linear model; if it does not fit in the equation, it is called nonlinear model of regression.
  • Regression analysis tools are primarily used for predicting and estimating the relationship between a dependent variable and independent variable to get more accurate and reliable results.
  • SPSS, R, MATLAB, and Excel are the different tools used for regression analysis. Among these, Excel is the most commonly used tool for regression analysis.
  • Regression analysis tools provide detailed analytical solutions that can be used to improve products and services and also help by providing an equation for a graph that helps predict data trends.
global regression analysis tool market size and forecast

Global Regression Analysis Tool Market: Dynamics

Global Regression Analysis Tool Market: Key Drivers

  • The shifting trend of various companies who want more accurate and reliable results, have led to high demand for regression analysis tools in the market as it predicts accurate results than other analysis tools.
  • Organizations use regression analysis tools to eliminate the time-consuming and lengthy sample analyzing process, which drives the demand for regression analysis tools.
  • In the healthcare & biomedical domain, signal processing regression analysis tools are used to evaluate techniques that predict the complexity of the disease, and thus raises the demand for regression analysis tools.
  • Regression analysis is lengthy, complicated and time consuming, which restrains the growth of the regression analysis tools market.
  • Lack of skilled professionals restrains the growth of regression analysis tools market.
  • Regression analysis tool market has opportunities in the biomedical signal processing field.
global regression analysis tool market dynamics

Impact of COVID-19 on the Global Regression Analysis Tool Market

  • As the world is facing economic slowdown due to COVID-19, developed countries are strongly affected by the pandemic.
  • However, COVID-19 has a positive impact on the regression analysis tool market, as regression analysis tools provide more accurate and reliable results while estimating the relationship between variables by using different online and offline tools. This is likely to expand the regression analysis tools market during the forecast period.

North America to Hold Major Share of the Global Regression Analysis Tool Market

  • In terms of region, the global regression analysis tool market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
  • North America is expected to hold major share in terms of revenue of the regression analysis tool market during the forecast period, as the region has a significant local as well as global presence of regression analysis service providers.
  • Europe has significant adoption rate of regression analysis tools due to the high rate of technological advancement in the field of cloud and analytics.
  • The increasing penetration of internet users in IT and telecommunication companies in Middle East and Africa grows demand for regression analysis tool in MEA region.
global regression analysis tool market outlook by region

Global Regression Analysis Tool Market: Competition Landscape

  • Several players are active in the regression analysis tool market with a strong presence. CAMO Software AS, a key player in the regression analysis tool market announced a global partnership with Metrohm AG, a company dealing in precision instruments and created AMO’s Unscrambler X software which offers import and export functionality to analyze the sample and measurement execution.

Key Players Operating in the Global Regression Analysis Tool Market Include:

  • MathWorks, Inc.
  • International Business Machines Corporation
  • SAS Institute Inc.
  • StataCorp LLC
  • Minitab Inc.
  • QlikTech International AB
  • GraphPad Software Inc.
  • Lumina Decision Systems
  • TIBCO Software
  • CAMO Software AS
  • OriginLab Corporation
  • Scilab
  • (EViews) IHS Global Inc.
  • GNU Octave
  • RStudio, PBC

Global Regression Analysis Tool Market: Research Scope

Global Regression Analysis Tool Market, by Component

  • Software
  • Services

Global Regression Analysis Tool Market, by Deployment

  • Cloud
  • On-premise

Global Regression Analysis Tool Market, by Type

  • Simple Linear Regression Tool
  • Multiple Linear Regression Tool

Global Regression Analysis Tool Market, by Application

  • BFSI
  • IT & telecommunication
  • Healthcare & Life sciences
  • Media & Entertainment
  • Transportation & Logistics
  • Education
  • Retail
  • Others

Global Regression Analysis Tool Market, by Organization size

  • Small & Medium Enterprises
  • Large Enterprises

Global Regression Analysis Tool Market, by Region

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia Pacific
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa
  • South America
    • Brazil
    • Rest of South America

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