Overview and Scope
Statistical analysis software (SAS) refers to computer programs that analyze, manipulate, and visualize data to uncover patterns, trends, and relationships within datasets. These software tools provide a wide range of statistical techniques and methods to help researchers, analysts, and data scientists make sense of complex data and derive meaningful insights.
Sizing and Forecast
The statistical analysis software market size has grown rapidly in recent years. It will grow from $8.45 billion in 2023 to $9.32 billion in 2024 at a compound annual growth rate (CAGR) of 10.3%. The growth in the historic period can be attributed to increased volume and complexity of data, rise in data-driven decision-making, regulatory compliance requirements, the growth of business intelligence, and increased focus on predictive analytics.
The statistical analysis software market size is expected to see rapid growth in the next few years. It will grow to $14.00 billion in 2028 at a compound annual growth rate (CAGR) of 10.7%. The growth in the forecast period can be attributed to the emergence of industry-specific solutions, shift towards cloud-based solutions, focus on real-time analytics, integration with artificial intelligence (AI) and machine learning (ML), and demand for self-service analytics. Major trends in the forecast period include AI-powered features, advanced anomaly detection, natural language processing (NLP) integration, innovation, and cloud-based AI services
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Segmentation & Regional Insights
The statistical analysis software market covered in this report is segmented –
1) By Component: Software, Services
2) By Products: Cloud-Based, On-Premises
3) By Functionality: Descriptive, Predictive, Prescriptive
4) By Industry Vertical: Healthcare, Finance, Education, Manufacturing, Retail, Government, IT And Telecom
North America was the largest region in the statistical analysis software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the statistical analysis software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rapid adoption of cloud computing is expected to propel the growth of the statistical analysis software market going forward. Cloud computing is delivering computing services over the internet, offering resources such as storage, processing power, and software on-demand, without the need for local infrastructure or management. The adoption of cloud computing is due to complete IT infrastructure flexibility, scalability, cost-effectiveness, and enhanced collaboration and accessibility. Statistical analysis software is used in cloud computing environments to leverage cloud platforms’ scalability, flexibility, cost efficiency, and integration capabilities, empowering users to perform advanced analytics, data processing, and modeling tasks with ease and efficiency. For instance, according to data by Flexera, a US-based computer software company, in 2022, 87% of organizations adopted a multi-cloud, of which 72% adopted a hybrid cloud, 13% adopted multiple public clouds, and 2% a multiple private cloud. Furthermore, the cloud spending by small and medium-sized businesses (SMBs) reflects a massive uptake, with 52% of the expenditure being more than $1.2 million in 2022, up from 38% reported in 2021. Therefore, the rapid adoption of cloud computing is driving the growth of the statistical analysis software market.
Key Industry Players
Major companies operating in the statistical analysis software market are Microsoft Corp, International Business Machines Corporation, Oracle Corporation, S&P Global, Pearson Education Inc, SAS Institute, Tableau Software LLC, MathWorks, Alteryx Inc., MicroStrategy Incorporated, TIBCO Software Inc., Dataiku Ltd, Domo Inc., JMP Statistical Discovery LLC, Minitab, LLC, Free Software Foundation, Inc., StataCorp LLC, Wolfram, OriginLab Corporation, DataClarity Corporation, Statwing Inc., Lumivero Pty. Ltd, AcaStat Software, StatGraphics Technologies, GraphPad Software Inc.
The statistical analysis software market report table of contents includes:
1. Executive Summary
2. Statistical Analysis Software Market Characteristics
3. Statistical Analysis Software Market Trends And Strategies
4. Statistical Analysis Software Market – Macro Economic Scenario
5. Global Statistical Analysis Software Market Size and Growth
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32. Global Statistical Analysis Software Market Competitive Benchmarking
33. Global Statistical Analysis Software Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Statistical Analysis Software Market
35. Statistical Analysis Software Market Future Outlook and Potential Analysis
36. Appendix
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