What is Reporting Tools?
Reporting Tools are comprehensive software tools which enables businesses to collect data from both external and internal sources, and further process the data to extrapolate patterns as well as data point based analytics. This processed data is presented in the form of charts, tables or other visual representations to paint a picture or story. Few of the applications of reporting tools include predictive analytics, visualisation tools, dashboards among other uses. Predictive analytics is the most widely popular applications of reporting tools. Surge in demand for visual data inforgraphics has been major reason for growth of the reporting tools. North America is the major market of the reporting tools.
The market study is broken down, by Application (Dashboards and Scoreboards, Predictive Analysis, OLAP and Visualization Tools and Others) and major geographies with country level break-up.
Growing demand for visual representation of data analytics has resulted in surge in demand for reporting tools. Enhanced business analytics solutions enable firms to assess market better and thus make better decisions, improving the success rate of the firms in future business decisions. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Google LLC (United States), IBM Corporation (United States), Oracle Corporation (United States), SAP SE (Germany), Microsoft Corporation (United States), Tableau Software (United States), Cloud9 Analytics, Inc. (United States), Cluvio (United States), SAS Institute, Inc. (United States) and Informatica (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are AgencyAnalytics (Canada), Slemma, Inc. (United States) and Deepdivr (Denmark).
Segmentation Overview
AdvanceMarketAnalytics has segmented the market of Global Reporting Tools market by Type, Application and Region.
On the basis of geography, the market of Reporting Tools has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End Use, the sub-segment i.e. BFSI will boost the Reporting Tools market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Organisation Size , the sub-segment i.e. SMEs will boost the Reporting Tools market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
In 2021, Insightsoftware, a United States based ERP Vendor which specialises in specializing in financial reporting tools and budgeting tools. has announced acquisition of Logi Analytics, Inc., specialising in business intelligence and business analytics as well as interactive data visualisation solutions. The acquisition will significantly expand the market reach of the Insightsoftware as well as forging relations with new customer bases.
Market Trend
- Predictive Analytics is rising in Popularity as Businesses Look to Reduce the Risks
Market Drivers
- Surge in Demand for Visual Data Info-graphics in Businesses
- Increasing Adoption of Digital Solutions by Businesses
Opportunities
- SMEs are Largely Untapped Market
Restraints
- Presence of Large Number of Digital Tools in Market
Challenges
- Providing to Customized Requirements in Order to Attain a Competitive Edge
Key Target Audience
Reporting Tools Developers, New Entrants/Investors, Venture Capitalists and Private Equity Firms, Research Organizations and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.