GITNUX MARKETDATA REPORT 2024

Software Analytics Industry Statistics

The software analytics industry is expected to continue to grow rapidly, driven by increasing data volume, demand for advanced analytics tools, and the continued adoption of analytics in various sectors.

Highlights: Software Analytics Industry Statistics

  • The global big data and business analytics market was valued at 168.8 billion U.S. dollars in 2018 and is forecast to grow to 274.3 billion U.S. dollars in 2022.
  • The world will create 180 zettabytes of data (or 180 trillion gigabytes) in 2025, up from less than 10 zettabytes in 2015, and software analytics will play a critical role in managing this data.
  • Application performance management (APM) forms the largest software type in the software analytics market and it is expected to reach $9.16 billion by 2023.
  • The Asia Pacific region is expected to be the fastest growing region in the software analytics market, with a CAGR of over 20% from 2021 to 2026.
  • North America held a significant market share of over 30% in 2019 in terms of software analytics industry due to the early adoption of advanced technologies.
  • Over 60% of businesses see big data analytics as a driver of revenues as opposed to just a way to cut costs.
  • The market volume of predictive analytics software is projected to exceed 14.5 billion U.S. dollars in 2022.
  • 90% of all the data in the world has been generated in the past two years, showing a significant increase in data generation and consumption, and the growth potential of software analytics industry.
  • By 2022, the global artificial intelligence and advanced analytics inFsoftware markets are projected to be worth 103 billion U.S. dollars.
  • More than 50% of all businesses are leveraging big data analytics for sales and marketing activities.
  • The market size of the global business intelligence (BI) and analytics software market is estimated to be 22.8 billion U.S. dollars in 2020.
  • 97.2% of businesses are investing in big data and AI, emphasizing the role of software analytics.
  • Cloud-based business intelligence and analytics budgets are predicted to grow 4.9% in 2021.
  • The global predictive analytics market is expected to reach $21.5 billion by 2025, with an expected CAGR of 21%.
  • The big data technology and service market are expected to reach USD $77 billion by 2023, a clear indication of the importance of software analytics.
  • More than 70% of companies increased their spending on data-focused technology in 2020, demonstrating the importance of software analytics in today's market.
  • 74% of enterprises plan to increase cloud spending in the wake of COVID-19, which gives a boost to the software analytics industry.

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The Latest Software Analytics Industry Statistics Explained

The global big data and business analytics market was valued at 168.8 billion U.S. dollars in 2018 and is forecast to grow to 274.3 billion U.S. dollars in 2022.

The statistic indicates that the global big data and business analytics market was valued at 168.8 billion U.S. dollars in 2018 and is projected to increase to 274.3 billion U.S. dollars by 2022. This demonstrates a substantial growth trend in the market, implying a rising demand for big data and analytics solutions across various industries. The increasing adoption of data-driven decision-making processes, advancements in technology, and the need for organizations to leverage data for strategic insights are likely driving this market growth. The forecasted expansion reflects a significant opportunity for businesses operating in the big data and analytics sector to capitalize on this trend and offer innovative solutions to meet the evolving needs of organizations seeking to harness the power of data for competitive advantage.

The world will create 180 zettabytes of data (or 180 trillion gigabytes) in 2025, up from less than 10 zettabytes in 2015, and software analytics will play a critical role in managing this data.

The statistic conveys the exponential growth of data creation worldwide, with an expected increase to 180 zettabytes by 2025 from less than 10 zettabytes in 2015. This surge in data generation underscores the critical role that software analytics will play in successfully managing and extracting insights from this vast amount of information. As companies and organizations continue to harness the power of data to drive decision-making and innovation, software analytics will be essential in unlocking the value hidden within the deluge of data being produced, ultimately shaping the future of data-driven strategies and technologies.

Application performance management (APM) forms the largest software type in the software analytics market and it is expected to reach $9.16 billion by 2023.

The statistic highlights the significance of Application Performance Management (APM) within the software analytics market, representing the largest software type in terms of market share. This indicates the widespread adoption and importance of APM tools in monitoring and optimizing the performance of applications. The projected value of $9.16 billion by 2023 signifies the anticipated growth and investment in APM technology over the coming years, reflecting the increasing demand for solutions that help organizations enhance the efficiency and effectiveness of their software applications. This trend underscores the crucial role that APM plays in ensuring the reliability and performance of software systems in today’s digital landscape.

The Asia Pacific region is expected to be the fastest growing region in the software analytics market, with a CAGR of over 20% from 2021 to 2026.

This statistic indicates that the Asia Pacific region is projected to experience significant growth in the software analytics market over the next five years, with a Compound Annual Growth Rate (CAGR) exceeding 20%. This suggests that the demand for software analytics solutions in this region is increasing at a rapid pace, driven by factors such as technological advancements, digital transformation initiatives, and the increasing importance of data-driven decision-making in businesses. The high growth rate indicates a strong market potential for software analytics providers looking to expand their operations in the Asia Pacific region, making it a key area of focus for businesses seeking to capitalize on the growing demand for analytics capabilities in the region.

North America held a significant market share of over 30% in 2019 in terms of software analytics industry due to the early adoption of advanced technologies.

The statistic indicates that North America had a substantial market share of over 30% in the software analytics industry in 2019, largely attributed to the region’s early adoption of advanced technologies. This early adoption likely provided North American companies with a competitive edge by enabling them to leverage cutting-edge analytics tools and methods to enhance decision-making, optimize processes, and drive business growth. The significant market share held by North America underscores the region’s leadership and innovation in the software analytics sector, positioning it as a key player in driving advancements and shaping the industry landscape on a global scale.

Over 60% of businesses see big data analytics as a driver of revenues as opposed to just a way to cut costs.

This statistic suggests that a majority of businesses view big data analytics as a tool that can positively impact their revenue generation efforts rather than solely focusing on cost-cutting measures. By utilizing data analytics effectively, these businesses are able to make informed decisions that lead to improved products or services, enhanced customer experiences, and more strategic marketing strategies—all of which can ultimately result in increased revenues. The shift in perspective from cost-cutting to revenue generation highlights the recognition among businesses of the potential for big data analytics to drive growth and create competitive advantages in today’s data-driven business landscape.

The market volume of predictive analytics software is projected to exceed 14.5 billion U.S. dollars in 2022.

The statistic indicates that the market volume for predictive analytics software is expected to grow significantly in 2022, exceeding 14.5 billion U.S. dollars. This forecast suggests a strong demand for predictive analytics tools, which are used to analyze data and make predictions about future events or trends. The projected market value indicates substantial investment and adoption of these software solutions across various industries for purposes such as improving decision-making, enhancing operational efficiency, and gaining competitive advantage. This growth trend underscores the increasing recognition of the value and impact that predictive analytics can have on businesses in today’s data-driven environment.

90% of all the data in the world has been generated in the past two years, showing a significant increase in data generation and consumption, and the growth potential of software analytics industry.

The statistic, stating that 90% of all data in the world has been generated within the past two years, underscores the explosive growth in data generation and consumption in recent times. This phenomenon highlights the exponential increase in digital information being created through various channels such as social media, Internet of Things (IoT) devices, online transactions, and other digital activities. The rapid accumulation of data presents significant opportunities for organizations to leverage advanced software analytics tools and techniques to extract valuable insights and drive strategic decision-making. This trend further emphasizes the immense growth potential of the software analytics industry as businesses seek to harness the power of big data for competitive advantage and innovation.

By 2022, the global artificial intelligence and advanced analytics inFsoftware markets are projected to be worth 103 billion U.S. dollars.

This statistic indicates that by the year 2022, the combined global market value of artificial intelligence and advanced analytics software is projected to reach 103 billion U.S. dollars. This represents a significant growth and adoption of these technologies across various industries worldwide. The substantial market value suggests a strong demand for AI and analytics solutions, driven by factors such as increasing data complexity, advancements in technology, and a growing emphasis on leveraging data-driven insights for business decision-making and innovation. This projection underscores the increasing importance and impact that artificial intelligence and advanced analytics are expected to have on businesses and society as they continue to evolve and expand.

More than 50% of all businesses are leveraging big data analytics for sales and marketing activities.

The statistic “More than 50% of all businesses are leveraging big data analytics for sales and marketing activities” indicates that a majority of companies are utilizing advanced data analytics tools to enhance their sales and marketing strategies. This suggests that businesses are recognizing the value of leveraging data-driven insights to make informed decisions, improve targeting capabilities, personalize customer experiences, and ultimately drive revenue growth. By harnessing big data analytics, organizations can gain a competitive edge in understanding customer behavior, predicting trends, optimizing campaigns, and maximizing ROI in their sales and marketing efforts.

The market size of the global business intelligence (BI) and analytics software market is estimated to be 22.8 billion U.S. dollars in 2020.

The statistic indicates that the global business intelligence (BI) and analytics software market was worth approximately 22.8 billion U.S. dollars in the year 2020. This figure represents the total value of sales and revenue generated by companies that provide BI and analytics software solutions worldwide. The market size reflects the growing demand for data-driven insights and decision-making tools among businesses across various industries. The significant size of this market suggests the importance and widespread adoption of BI and analytics software in helping organizations extract valuable insights from their data to drive strategic decision-making and improve operational efficiency.

97.2% of businesses are investing in big data and AI, emphasizing the role of software analytics.

The statistic that 97.2% of businesses are investing in big data and AI, with an emphasis on the role of software analytics, indicates a widespread recognition among organizations of the value and potential benefits offered by leveraging advanced data analytics technologies in their operations. By actively investing in big data and AI, businesses are signaling their commitment to harnessing the power of data-driven insights to enhance decision-making processes, improve operational efficiency, and drive innovation. The focus on software analytics further underscores the importance of utilizing analytical tools and platforms to extract valuable insights from the vast amounts of data generated by modern businesses. This trend towards data-driven decision-making is indicative of a broader strategic shift towards a more data-centric approach to business operations.

Cloud-based business intelligence and analytics budgets are predicted to grow 4.9% in 2021.

The statistic indicates that the budgets allocated for cloud-based business intelligence and analytics are projected to increase by 4.9% in the year 2021. This growth suggests a rising trend in organizations investing in cloud-based tools and technologies to empower their decision-making processes and gain insights from their data. The increase in budget allocation signifies a recognition of the importance of leveraging data analytics to drive business performance and stay competitive in the market. Organizations are likely investing more in cloud-based solutions to enhance their analytical capabilities, enable scalability, improve data accessibility, and drive efficiencies in their operations.

The global predictive analytics market is expected to reach $21.5 billion by 2025, with an expected CAGR of 21%.

This statistic indicates that the global predictive analytics market is projected to grow significantly in the coming years, with an expected market size of $21.5 billion by 2025, showcasing a Compound Annual Growth Rate (CAGR) of 21%. This suggests a strong and steady increase in the adoption of predictive analytics solutions across various industries, driven by advancements in technology, increased data availability, and a growing recognition of the benefits of predictive modeling for decision-making and improving business outcomes. The high projected CAGR signifies a robust demand for predictive analytics tools and services, highlighting the importance of leveraging data-driven insights for gaining a competitive edge in today’s rapidly evolving business landscape.

The big data technology and service market are expected to reach USD $77 billion by 2023, a clear indication of the importance of software analytics.

The statistic citing the projected USD $77 billion market size for big data technology and services by the year 2023 underscores the significant growth and increasing importance of software analytics. This substantial market value not only reflects the rapid expansion of the big data industry but also highlights the growing recognition among businesses of the benefits and competitive advantages that software analytics can provide. As organizations seek to extract valuable insights from vast amounts of data to drive decision-making and strategy, the continued growth of the big data market emphasizes the crucial role that software analytics plays in unlocking the potential of data-driven solutions and innovations across various industries.

More than 70% of companies increased their spending on data-focused technology in 2020, demonstrating the importance of software analytics in today’s market.

The statistic indicating that more than 70% of companies increased their spending on data-focused technology in 2020 highlights a significant trend towards the prioritization of software analytics in today’s market. This trend suggests that businesses recognize the value of leveraging data-driven insights to enhance decision-making processes, drive growth, and maintain competitiveness. The substantial increase in investment indicates a growing acknowledgment of the critical role that data-focused technology plays in enabling organizations to extract actionable intelligence from vast amounts of data, ultimately leading to improved performance and strategic outcomes. By prioritizing software analytics, companies are positioning themselves to adapt to the rapidly evolving business landscape and capitalize on the opportunities presented by data-driven decision-making.

74% of enterprises plan to increase cloud spending in the wake of COVID-19, which gives a boost to the software analytics industry.

The statistic that 74% of enterprises plan to increase cloud spending in the wake of COVID-19 indicates a significant trend within the business landscape. As the pandemic has accelerated the need for remote work and digital transformation, organizations are increasingly turning to cloud solutions to support their operations and enable flexibility. This surge in cloud spending is expected to benefit the software analytics industry, as businesses prioritize data insights and analytics tools to optimize their cloud infrastructure and operations. Overall, this statistic highlights the growing importance of cloud technologies and data analytics in driving business resilience and innovation during and post-pandemic.

Conclusion

The software analytics industry is rapidly growing and evolving, driven by the increasing use of data-driven insights and the implementation of advanced analytics tools. Companies that embrace software analytics have a competitive advantage, as they can make more informed decisions based on actionable data. As technology continues to advance, we can expect the software analytics industry to play an even more significant role in driving innovation and driving business success.

References

0. – https://www.www.idc.com

1. – https://www.www.microstrategy.com

2. – https://www.www.flexera.com

3. – https://www.www.globenewswire.com

4. – https://www.www.statista.com

5. – https://www.www.forbes.com

6. – https://www.www.newgenapps.com

7. – https://www.www.dnb.com

8. – https://www.financesonline.com

9. – https://www.www.eweek.com

How we write our statistic reports:

We have not conducted any studies ourselves. Our article provides a summary of all the statistics and studies available at the time of writing. We are solely presenting a summary, not expressing our own opinion. We have collected all statistics within our internal database. In some cases, we use Artificial Intelligence for formulating the statistics. The articles are updated regularly.

See our Editorial Process.

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