The Business Research Company’s Business Analytics and Enterprise Software Global Market Report 2021: COVID-19 Impact And Recovery To 2030
LONDON, GREATER LONDON, UK, January 6, 2022 /EINPresswire.com/ — The business analytics & enterprise software market consists of sales of business analytics and enterprise software by entities that produce such software to better understand an organization’s strengths and weaknesses. Enterprise software is a software used to satisfy the needs of an organization rather than individual users.
In common with other sectors, the COVID pandemic depressed the market in 2019-20 (2% growth), with supply chain disruptions and lockdowns impacting infrastructure and communications growth.
As per data on the Global Market Model, the business analytics & enterprise software market size stood at $260.84 billion in 2020 and is expected to grow rapidly between 2020 and 2025, starting with a COVID bounce-back growth rate of 5.5%, that is projected to grow to 12.4% CAGR over the five-year forecast period. This equates to Global Revenues of $439.73 billion by 2025. The fastest growing segment is, without doubt, Business Intelligence (BI) software, with a CAGR of 26.6% between 2021 – 2025.
The largest segment historically has been ERP software – and this dominance is forecast to continue up to 2025 (46.0% of market share). However, the longer-term forecast to 2030 predicts a decline in ERP’s share to 34.5%, with the top slot going to BI software, which is expected to take 40.3% of the market share.
The regional picture shows a shift in regional market size, with the dominance of North America in 2010 (50%), declining to 41.5% by 2015 and slipping down to second place in 2019 (37.2%). The Asia Pacific region gained ascendancy in 2019 (38.4%) and is forecast to rise to 48.5% by 2030. Conversely, the North America market will have “slumped” to 25.7% of revenue share by 2030. It should be noted that the other regions – Eastern Europe, Western Europe, Middle East, Africa and South America – will remain minnows, in comparison, with just over 25% market share between them.
The data by country up to 2020, reflects the current dominance of the USA and shows the meteoric compound annual growth rate (CAGR) in India (41.4%), China (20.2%) and Germany (24.4%) over the ten-year historic period (2010 – 2020).
The Business Analytics & Enterprise Software Global Market Report is one of a series of new reports from The Business Research Company that provides business analytics and enterprise software market overviews, analyses and forecasts business analytics and enterprise software market size, share, business analytics and enterprise software market players, business analytics & enterprise software market segments and geographies, the market’s leading competitors’ revenues, profiles and market shares.
Here are some related reports:
Big Data And Analytics Services Global Market Report 2021
Business Process As A Service (BPaaS) Global Market Report 2021 – COVID-19 Impact And Recovery
Business Support Services Global Market Report 2021 – COVID-19 Impact And Recovery
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