Zion Market Research Global Business Analytics Market, 2016 – 2024 | Page 3

Business Analytics Market
divided into the cloud and on premise. The various types of the global market include large
enterprises and small and medium enterprises. The verticals where the business analytics
concept is implemented include BFSI, energy and power, healthcare, media and
entertainment, education, government, telecom and IT and others. Region-wise, the global
business analytics market is diversified into Latin America, North America, Europe, Asia-
Pacific and the Middle East and Africa.
Global Business Analytics Market: Growth Factors
Large enterprises usually adopt the business analytics technology within their organization
as they have the data support system and have the ability to invest in this business
optimizing software. The business analytics have adopted the cloud technology, which is, in
turn, fueling the market growth. The other factors that are pushing the market growth are the
mobile BI solutions, cloud deployment and the increasing level of competition. The vertical
that is largely adopting the business analytic tools is the health industry while the retail and
BFSI verticals are capturing a maximum of the market. In the recent years, the
organizations are concentrating more on the customer satisfaction but are also focusing on
their productivity, thus they are adopting the business analytic tools to sort the day-to-day
data from various business activities. The high investment cost for the implementation of the
business analytics, the hesitancy in adopting the tools, lack of knowledge and skilled
workforce are factors negatively impacting the market growth.
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Global Business Analytics Market: Regional Analysis