Business Analytics & Enterprise Software Global Market Report 2024

The business analytics & enterprise software market size has grown rapidly in recent years. It will grow from $470.03 billion in 2023 to $531.09 billion in 2024 at a compound annual growth rate (CAGR) of 13.0%. The growth observed during the historic period can be attributed to factors such as the digitization of businesses, competitive pressures within industries, the emphasis on cost optimization, the adoption of mobile workforce solutions, and the focus on supply chain optimization.

The business analytics & enterprise software market size is expected to see rapid growth in the next few years. It will grow to $903.88 billion in 2028 at a compound annual growth rate (CAGR) of 14.2%. The anticipated growth in the forecast period can be attributed to factors such as increasing concerns around data privacy, the implementation of augmented analytics, sustainability initiatives, the continued growth of e-commerce, advancements in quantum computing, and the initiatives related to smart cities. Major trends expected in the forecast period encompass the widespread adoption of artificial intelligence (AI) in business solutions, real-time data processing and analytics, the integration of cloud-based enterprise software, the incorporation of blockchain in business applications, and a focus on personalization and customization in software solutions.

Mobility has become an integral part of digital solutions, globally transforming businesses and driving the demand for IT services. It plays a crucial role in customer experience management, fosters interaction among strategic partners and suppliers, and facilitates greater access to information and services for executing critical business operations. The development and implementation of mobile applications are reliant on IT services. Tieto, for example, excels in mobility, offering customized solutions in healthcare, logistics, telecommunications, energy, and manufacturing through its enterprise mobility solution framework.

The growth of the business analytics and enterprise software market is expected to be propelled by the increasing adoption of cloud-based solutions. These solutions, residing on remote servers and accessible through the internet, provide businesses with scalability, flexibility, and cost-effectiveness. Eurostat reported a 5-percentage point increase, reaching 41%, in EU enterprises utilizing cloud computing in 2021, with large businesses exhibiting a 7-percentage point increase to 72%. This surge in cloud-based solution adoption is a driving force behind the growth of the business analytics and enterprise software market.

The COVID-19 pandemic acted as a significant restraint on the business analytics and enterprise software market in 2020. Disruptions in supply chains due to trade restrictions and challenges faced by employees working from home, caused by lockdowns imposed globally, impacted the infrastructure and communication of these establishments. Despite the negative impact throughout 2020 and into 2021, the market is expected to recover across the forecast period, considering the pandemic as a 'black swan' event unrelated to ongoing weaknesses in the market or the global economy.

In recent years, there has been a notable increase in the prevalence of low-cost open-source alternatives, emerging as preferred platforms for developing new technology. Open source is no longer limited to software deemed unprofitable; companies are now open-sourcing software to enhance market presence and share. According to Allison Randal, President of the Open Source Initiative, 78% of companies use open-source solutions, with 64% participating in open-source projects, signifying a rise in open-source software platforms for application development.

Leading companies in the business analytics and enterprise software market are actively engaged in developing innovative solutions, including AI-powered offerings, to gain a competitive edge. AI-powered business analytics software, utilizing artificial intelligence and machine learning, analyzes large data sets to generate insights, predictions, and recommendations for data-driven decision-making. IBM, for instance, launched the IBM Business Analytics Enterprise in November 2022, featuring AI-powered software designed to dismantle data and analytics silos, facilitating quick data-driven decisions. This suite of business intelligence tools provides a comprehensive understanding of data sources across an entire organization.

In April 2021, IBM announced the acquisition of Turbonomic for $2 billion. This strategic move enables IBM to offer solutions addressing the high costs associated with managing performance and availability in a complex hybrid cloud environment. Turbonomic, an enterprise software company based in the US, aligns with IBM's vision for providing advanced solutions in this dynamic market.

Major companies operating in the business analytics & enterprise software market report are Nippon Telegraph And Telephone Corp., International Business Machines Corporation, Oracle Corporation, Microsoft Corporation, SAP SE, Salesforce.com, Fiserv Inc., Adobe Systems Incorporated, Leidos, Atos SE, Workday Inc., SAS Institute Inc., Teradata Corporation, Tibco Software Inc., Fair Isaac Corporation, Alteryx Inc., QlikTech International AB, Domo Inc., ThoughtSpot Inc., Mixpanel Inc., Sisense Inc., RapidMiner Inc., Domino Data Lab, PanTerra Networks Inc., Cloudability Inc., Densify Inc., Google LLC, Tableau Software Inc., Infor, BOARD International, GoodData Corporation, Datameer Inc., Yellowfin BI. Asia-Pacific was the largest region in business analytics & enterprise software market in 2023. North America was the second largest region in business analytics & enterprise software market. The regions covered in the business analytics & enterprise software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The primary types within the domain of business analytics and enterprise software include ERP software, BI software, CRM software, SCM software, and other software. ERP software is utilized by organizations to manage and plan daily business activities, covering areas such as finance, manufacturing, supply chain, and human resources. These software solutions can be deployed using models such as the On-Demand Or Cloud model and on-premise model. They find applications across various industries, including IT and telecommunications, BFSI, manufacturing, retail, healthcare, education, media, and other sectors.

The business analytics & enterprise software market research report is one of a series of new reports that provides business analytics & enterprise software market statistics, including business analytics & enterprise software industry global market size, regional shares, competitors with a business analytics & enterprise software market share, detailed business analytics & enterprise software market segments, market trends and opportunities, and any further data you may need to thrive in the business analytics & enterprise software industry. This business analytics & enterprise software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The countries covered in the business analytics & enterprise software market report are Australia; China; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa.

The business analytics & enterprise software market includes revenues earned by entities by developing and distributing software that are used to analyze business data 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. Such organizations include businesses, schools, interest-based user groups, clubs, charities, and governments. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.


The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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