SaaS-based Business Analytics Market: Introduction
- SaaS-based business analytics is a cloud-based model in which a third-party provider hosts business analytics tools such as reports and dashboards to enterprises in a protected online location, with less complex and flexible pricing.
- SaaS-based business analytics is one of the cloud computing solutions used by retail, BFSI, healthcare, and other industries. Economic conditions and uncertain business could result in increased cost pressure. Hence, these industries are deploying SaaS-based business analytics, to create cloud-based infrastructure according to their business requirements.
- During the COVID-19 pandemic outbreak, governments and the WHO (World Health Organization) are increasingly adopting SaaS- based business analytics, in order to deeply analyze the impact of coronavirus across the world. This in turn is expected to accelerate the SaaS-based business analytics market. In addition, SaaS-based business analytics providers are empowering advanced technology in innovative ways to help enterprises and customers across various industries to fight the coronavirus outbreak. This is boosting the growth of the SaaS-based business analytics market across the globe.
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Global SaaS-based Business Analytics Market: Market Dynamics
- Rising adoption of SaaS-based business analytics in the retail sector due to the continuous development of e-commerce technologies is expected to trigger the growth of the SaaS- based business analytics market. Retailers make the most of profits by implementing management information systems and analytical tools, which can decrease their capital expenditure. This enhances the demand for SaaS- based business analytics in retail industry.
- Growing popularity of the operating expenses (OPEX) business model across numerous industry verticals is expected to boost the growth of the SaaS- based business analytics market during the forecast period.
- Demand for SaaS-based business analytics is high in small & medium-sized enterprises due to its low cost and enhanced usability, in turn accelerating the growth of the SaaS- based business analytics market.
- Growing adoption of mobile based business analytical tools is a factor which can empower the SaaS-based business analytics market. Mobile phones and smartphones are integrated with analytical software applications, so as to identify potential customers using these technologies, which fuels the growth of the SaaS-based business analytics market.
North America to Account for Major Share of the Global SaaS-based Business Analytics Market
- In terms of region, the global SaaS-based business analytics market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- North America is anticipated to lead the global SaaS-based business analytics market, due to well-established players in the region who focus on innovations and build capabilities to differentiate their products from their competitors. This factor accelerates the growth of the SaaS-based business analytics market in the North America region.
- The SaaS-based business analytics market in Asia Pacific is expected to hold significant share due to rising number of small & medium sized enterprises in developing countries such as India and China. In addition, rising awareness among organizations about SaaS-based business analytics is expected to trigger the growth of the market across Asia Pacific.
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Global SaaS-based Business Analytics Market: Competitive Landscape
Key Players Operating in the Global SaaS-based Business Analytics Market
Companies operating in the SaaS-based business analytics market are increasingly investing in research and development to develop new and innovative techniques to provide SaaS-based business analytics software. The SaaS-based business analytics market is highly fragmented with the presence of numerous manufacturers in both developed and developing regions. Key players operating in the global SaaS-based business analytics market include:
- GoodData Corporation.
- IBM Corp.
- Microsoft Corp.
- MicroStrategy Incorporated.
- Open Text Corporation.
- Oracle Corp.
- QlikTech international AB
- Salesforce.com Inc.
- SAP SE
- SAS Institute Inc.
- TIBCO Software Inc.
Global SaaS-based Business Analytics Market: Research Scope
Global SaaS-based Business Analytics Market Segmentation, by Deployment
Global SaaS-based Business Analytics Market Segmentation, by Enterprise
- Small & Medium
Global SaaS-based Business Analytics Market Segmentation, by End-user
- IT & Telecom
- Others (energy and utilities)
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.