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The SaaS-Based Business Analytics Market is projected to grow by USD 10.19 Billion (2024-2028), driven by the shift towards SOA and AI-driven market transformation – Technavio

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NEW YORK, Oct. 9, 2024 /PRNewswire/ — Report with the AI impact on market trends – The Global SaaS-based Business Analytics Market size is estimated to grow by USD 10.19 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  13.63%  during the forecast period. Shift toward SOA is driving market growth, with a trend towards rising demand for data integration and visual analytics. However, bandwidth and connectivity issues  poses a challenge – Key market players include Accenture Plc, Board International SA, GS Topco GP LLC, GoodData Corp., Infor Inc., International Business Machines Corp., Microsoft Corp., MicroStrategy Inc., Open Text Corporation, Oracle Corp., Planful Inc., QlikTech international AB, Salesforce Inc., SAP SE, SAS Institute Inc., Sisense Ltd., Splunk Inc., Tableau Software LLC, Teradata Corp., and TIBCO Software Inc..

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Saas-Based Business Analytics Market Scope

Report Coverage

Details

Base year

2023

Historic period

–

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 13.63%

Market growth 2024-2028

USD 10198.3 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

12.14

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 41%

Key countries

US, Germany, China, UK, and Japan

Key companies profiled

Accenture Plc, Board International SA, GS Topco GP LLC, GoodData Corp., Infor Inc., International Business Machines Corp., Microsoft Corp., MicroStrategy Inc., Open Text Corporation, Oracle Corp., Planful Inc., QlikTech international AB, Salesforce Inc., SAP SE, SAS Institute Inc., Sisense Ltd., Splunk Inc., Tableau Software LLC, Teradata Corp., and TIBCO Software Inc.

Market Driver

SaaS-based business analytics solutions enable enterprises to integrate their back-office systems with database management systems, streamlining workflows and granting users access to vast data sets. These tools facilitate the integration of technical and business processes from various sources, converting raw data into valuable insights. With the escalating volume of data, analyzing, transforming, monitoring, and interpreting data has become essential for businesses. Globalization necessitates real-time connections between customers, suppliers, and resources. To link multiple enterprise systems with web and wireless applications, companies require integration platforms. Businesses integrate data with business intelligence systems to examine various data sets, such as sales data, for informed decision-making. Organizations also combine business analytics software with visual analytics tools for the dynamic representation of data. Visual analytics technology generates graphical representations of charts and graphs, like heat maps, to essential points and metrics through various graphical reorientations. Microsoft’s Power BI, a SaaS-based business analytics solution, offers interactive visual analytics representations. 

The SaaS-based business analytics market is experiencing significant growth due to the increasing demand for data-driven insights in various industries, particularly in Big Finance and Business (BFSI). Advanced technologies like artificial intelligence (AI) and machine learning (ML) are driving this trend, enabling predictive analytics and process automation. Cloud technology, specifically cloud-based solutions, is a key factor in this growth. Large enterprises are increasingly moving away from on-premise software towards cloud-based approaches for data storage, management, and analysis. Tech-savvy consumers and digital transformation are also major drivers, with real-time insights and personalized services becoming increasingly important. Government investments in data analytics are also fueling growth. The market offers various data analytics tools, providing real-time analytics, data visualization, and data security. The pay-as-you-go model and subscription fees make these solutions accessible to businesses of all sizes. Network monitoring, asset utilization, sales performance, customer behavior, and customer service are some of the key areas where SaaS-based analytics is making a difference. Data processing and data analysis are at the heart of these solutions, providing informed decisions and improving customer experience. Data security is a top priority, with various measures in place to ensure the confidentiality, integrity, and availability of data. 

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 Market Challenges

Cloud-based business analytics solutions, such as SaaS (Software as a Service), offer enterprises faster data access for efficient business operations. However, connectivity issues in the ICT (Information and Communication Technology) infrastructure can hinder performance. Packet loss and latency are common challenges when accessing cloud computing services from remote locations. Vendors must ensure their networking infrastructure is free from these issues to meet service level agreements. Network and data isolation are also concerns with SaaS-based business analytics software. To mitigate risks, vendors should provide backup and recovery solutions in case of network failures. Efficient connectivity is crucial for uninterrupted testing processes, ensuring seamless data access and server functionality.

The Saas-Based Business Analytics Market is experiencing significant growth due to the increasing demand for real-time data insights from various industries like Retail and E-commerce, Telecom and IT, Healthcare, and SMEs. However, challenges persist in delivering an optimal customer experience with personalized services, ensuring data security, and handling mission-critical workloads. Data processing and visualization require technical expertise, and the choice between on-site and cloud-based approaches depends on factors like bandwidth and connection. Data analytics tools must integrate seamlessly with hardware and provide data science capabilities for data-driven decisions. Big data and business intelligence are essential for informed decisions, but the pay-as-you-go model and subscription fees can be a concern for some organizations. Data integration is crucial, and service-oriented architecture plays a vital role in ensuring seamless data flow. Challenges in data processing, data visualization, data security, and data analytics tools can hinder the adoption of Saas-Based Business Analytics. Addressing these challenges requires a focus on real-time analytics, data science, and a user-friendly interface for various industries, including retailers and data-driven startups.

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Segment Overview 

This saas-based business analytics market report extensively covers market segmentation by  

End-user 1.1 Retail1.2 BFSI1.3 Telecom1.4 Healthcare1.5 OthersGeography 2.1 North America2.2 Europe2.3 APAC2.4 South America2.5 Middle East and Africa

1.1 Retail-  The retail industry’s dynamic nature, driven by e-commerce technologies, necessitates effective business analytics for maximizing profits. Retailers can reduce capital expenditure by subscribing to cloud-based retail analytics solutions, which connect stakeholders in the supply chain management (SCM) systems. Real-time decision-making is achievable through business analytics in SCM, with leading retailers like Walmart utilizing this for operational efficiency and control. Despite the COVID-19 pandemic’s negative impact, the adoption of cloud-based applications is forecasted to fuel market growth.

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Research Analysis

The Saas-based business analytics market is experiencing significant growth due to the increasing adoption of advanced technologies such as big data analytics, predictive analytics, artificial intelligence, and machine learning. These technologies enable process automation and data integration, providing insights that help businesses make informed decisions in real-time. The cloud technology-driven model offers flexibility, scalability, and cost savings, making it an attractive option for industries such as BFSI and telecom, as well as retailers and SMEs. On-site business analytics and service-oriented architecture are also being complemented by the on-demand, on-cloud analytics solutions. E-commerce technology and data science are further driving the market growth by providing visual analytics and advanced analytics capabilities. Overall, the market is poised for continued growth as more businesses recognize the value of data-driven insights.

Market Research Overview

The SaaS-based business analytics market is experiencing significant growth due to the increasing adoption of advanced technologies like Big data analytics, machine learning, and artificial intelligence. These technologies enable process automation, real-time insights, and data-driven decisions for businesses across various industries, including BFSI, retail, telecom, and healthcare. Cloud technology plays a crucial role in delivering on-demand, flexible, and cost-effective solutions for large enterprises and data-driven startups alike. Cloud-based solutions, available in public, private, and hybrid models, offer advantages such as pay-as-you-go and subscription fees, making them an attractive alternative to on-premise software. Real-time analytics and machine learning solutions provide valuable data insights for tech-savvy consumers, driving digital transformation and customer experience enhancements. Government investments and customer behavior data analysis contribute to the market’s growth, with applications ranging from network monitoring and asset utilization to real-time energy trading and customer service. Data management, data security, and data visualization tools are essential components of SaaS-based business analytics, ensuring informed decisions and mission-critical workloads. SMEs and data-driven startups benefit from the cloud-based approach, which offers scalability, ease of integration, and affordability. The market also caters to industries like retail and e-commerce, telecom and IT, and healthcare, addressing their unique data processing and bandwidth requirements. Overall, the SaaS-based business analytics market continues to evolve, driven by the increasing importance of data-driven insights and informed decision-making.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

End-userRetailBFSITelecomHealthcareOthersGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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GAC Wins 8 Awards, Including 4 First Prizes, Showcasing Technological Innovation Strength

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SUZHOU, China, Oct. 31, 2026 /PRNewswire/ — On October 28, GAC won 8 awards at the 2026 China-SAE Science and Technology Award ceremony in Suzhou, Jiangsu. In the fields of automotive chips, electric drive, vehicle safety, intelligent driving governance and body design, four first prizes were awarded to two GAC-led projects and two GAC-participated projects, and one GAC-led project won second prize.

In chips, GAC’s led project built a full-chain path from vehicle definition to scale application, working with 105 partners to apply nearly 400 chip models and over 1,000 domestic chips. The HYPTEC GT Special Edition, China’s first ICV with 100% domestically designed chips, has been launched.

In electric drive, GAC pioneered mass production of amorphous alloy stators and carbon-fiber high-speed rotors, becoming the world’s only company to mass-produce amorphous alloy automotive motors. Its amorphous ribbon is just 0.025 mm thick. The motor reaches 99.03% peak efficiency, 17.29 kW/kg power density (@1000V)—nearly three times the industry mainstream—and 30,000 rpm maximum speed; system CLTC efficiency reaches 94.184%. For users, energy consumption drops 4%, and range rises 30-50 km with the same battery capacity. It has been applied to HYPTEC, AION and AISTALAND models and promoted to other automakers. The related precision manufacturing technology won the Gold Medal with Congratulations of the Jury at the 51st International Exhibition of Inventions of Geneva.

In safety, the GAC-led project with Tsinghua University won second prize. It developed China’s first ASIL-D fully domestic safety controller, real-time risk quantification, active-suspension side-impact mitigation, a rear-window airbag and an “automaker-traffic police-hospital” integrated rescue model. It has been applied to 20 models with cumulative sales of 1.446 million units.

In addition, GAC’s participated L2-L4 safety governance project helped establish a full-lifecycle system covering pre-admission, in-process supervision and post-event traceability. Its participated BIW project features an AI-based body design system that generates concept schemes within 5 hours, with over 95% stiffness prediction accuracy and over 30% higher design efficiency; it has been applied to the second-generation GAC GS8, GAC ES9 and GAC All-new S7.

Looking ahead, GAC will uphold innovation-driven development, advance core technology breakthroughs and commercialization, and support high-quality development of China’s auto industry.

For further information about GAC, please visit: https://www.gacgroup.com/en or follow us on social.

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SOURCE GAC

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ScienceOra Demonstrates AI-Assisted Hydrogen-Production Catalyst Design Workflow at Tencent Global Digital Ecosystem Summit

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The workflow spans literature analysis, candidate design, experimental planning and industrial decision support, extending AI4S into materials research

SHENZHEN, China, Oct. 30, 2026 /PRNewswire/ — Wenge AI demonstrated an AI-assisted hydrogen-production catalyst design workflow supported by ScienceOra at the 2026 Tencent Global Digital Ecosystem Summit. The demonstration showed how AI for Science (AI4S) can connect literature analysis, catalyst candidate design, experimental planning and industrial decision support, helping materials researchers translate scientific evidence into actionable research plans.

ScienceOra is Wenge AI’s intelligent research decision platform, built on the ScienceOne Scientific Foundation Model. For specialist research tasks such as materials development, the platform brings together scientific models, professional literature, research data and tools to support information access, research-plan development and scientific decision-making.

From literature analysis to catalyst candidate design

The demonstration focused on the design of a high-entropy alloy catalyst for the alkaline hydrogen evolution reaction. To address the need for high activity and durability, ScienceOra searched professional literature and drew on published research methods and elemental properties to support the development of candidate designs. It also cross-checked optimization proposals against relevant literature, providing researchers with references that could be reviewed and verified.

Rather than simply generating material formulations, the workflow connects documentary evidence, materials knowledge and specific design objectives to support more targeted analysis of candidate solutions. Researchers remain responsible for assessing scientific validity and determining subsequent research directions.

From experimental planning to industrial decision support

For experimental planning, ScienceOra can assist in developing research protocols around candidate designs, helping researchers organize experimental variables and producing testing standard operating procedures (SOPs) and related reference information for subsequent validation.

For industrial applications, the platform can also support comparative analysis across dimensions such as the feasibility of scaled hydrogen production, performance at industrially relevant current densities, durability, raw-material availability and compatibility with mass-production synthesis processes. It can then assist in establishing decision priorities, screening criteria and process-improvement recommendations.

Candidate designs, experimental plans, process recommendations and references can be consolidated into a structured research report, helping R&D teams assess scientific evidence alongside engineering constraints. AI provides analytical and decision support, while experimental testing and scientific validation remain essential parts of materials research.

Previously disclosed collaboration reports design efficiency and activity improvements

In a previously disclosed industry–research collaboration on hydrogen-production catalyst design, ScienceOra supported literature analysis and research-plan development. The collaboration reported a 38% improvement in catalyst activity and reduced the design stage from several months to 30 minutes. The case illustrates the potential of domain-specific AI to connect scientific literature, research design and engineering requirements.

ScienceOra was recently made available on Tencent WorkBuddy, with an initial offering of more than 30 research expert agents and skills covering literature analysis, research hypotheses, plan design, modeling and simulation, validation analysis and research communication. The conference demonstration further illustrated how ScienceOra can be applied to specialist materials research, as AI4S moves beyond general information processing toward support for research workflows and industrial R&D decision-making.

For more information, visit https://www.scienceone.ai/portal/.

About Wenge AI

Wenge AI (1956.HK) is a provider of artificial intelligence technology and service platform products for enterprises. With self-developed large models as its core, the company helps enterprises build practical intelligent platforms and applications. Founded by a team of AI scientists from the Chinese Academy of Sciences, Wenge AI has deep technological expertise in large models, cognitive intelligence and complex-system modeling, and is committed to advancing AI from technological capabilities to enterprise-level applications.

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Cake Digital Bank Wins Gold at Qorus-Infosys Finacle Banking Innovation Awards 2026

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ROME, Oct. 31, 2026 /PRNewswire/ — Cake Digital Bank, a digital-only bank from Vietnam, has won Gold at the Qorus-Infosys Finacle Banking Innovation Awards 2026 for its initiative, “Reinventing Financial Experiences Through an AI-First Banking Model.” Cake was the only financial institution from Vietnam recognized at this year’s awards.

The winners were celebrated in Rome, Italy, during Infosys Finacle Conclave 2026. The 13th edition of the awards attracted 538 submissions from 206 financial institutions across 68 countries, with 37 institutions recognized across ten award categories. The selection process combined voting by industry peers with evaluation by an expert jury of 81 senior banking executives.

The award-winning institutions included leading international banking names such as Santander, Commonwealth Bank, DBS, Maybank, and CaixaBank, reflecting the global scope and competitive landscape of the awards.

John Berry, Chairman of Qorus, observed that the banking industry is entering a new era in which AI is becoming integral to innovation, transforming initiatives and expanding the possibilities of financial services.

Building an AI-First Banking Model from the Ground Up

As artificial intelligence becomes increasingly central to banking innovation, financial institutions face a growing challenge: translating technological capabilities into better customer experiences, greater operational efficiency, and sustainable business performance.

Cake’s AI-first approach reflects this industry shift while taking a different starting point. Rather than integrating AI into established banking processes, Cake was built as a digital-only bank from the outset, embedding AI, data, and automation into its technology architecture, operating model, and customer journeys.

This greenfield foundation has enabled Cake to develop an integrated AI-first banking model, where technology supports how the bank makes decisions, manages operations, and delivers financial services at scale.

Supported by its independently developed core banking and card management systems, Cake applies AI across the banking value chain, from customer onboarding, credit assessment, and fraud prevention to risk management, customer service, and personalized financial recommendations.

Beyond operational efficiency, Cake has also invested in localized AI capabilities designed specifically for Vietnamese users, enabling more accessible, responsive, and personalized financial experiences.

Scaling Growth with Efficiency and Sustainable Business Performance

Nearly six years since its launch, Cake has grown to serve more than 8 million customers, demonstrating the scalability of its branchless digital banking model.

Cake achieved positive EBITDA in Q3 2024, just 3.5 years after launch, marking a significant milestone in demonstrating the viability of its digital-only banking model. The bank subsequently recorded 173% year-on-year revenue growth in 2025, followed by a further 121% growth in 2026, reflecting sustained business momentum as it continues to scale. Meanwhile, average revenue per user (ARPU) increased from USD 12 in 2024 to USD 44 in 2026, highlighting Cake’s ability to generate greater value from its growing customer base.

Beyond customer acquisition, Cake’s growth strategy increasingly focuses on deepening customer relationships and expanding the range of financial needs served through its platform and partner ecosystems. This approach reflects the bank’s evolution toward a mature digital banking model, where scale is complemented by stronger customer engagement, operational efficiency, and long-term business sustainability.

Nguyen Huu Quang, CEO of Cake Digital Bank, said:

“Winning Gold at the Qorus-Infosys Finacle Banking Innovation Awards is a meaningful international recognition of Cake’s AI-first banking model. From the beginning, our ambition has been to build a digital bank that combines technological innovation with sustainable business performance, while making financial services simpler, more accessible, and more relevant to customers. This recognition reinforces our commitment to delivering world-class banking experiences for Vietnamese users and continuing to advance our AI-first capabilities.”

The Gold Award marks another milestone in Cake’s development as a next-generation AI-first digital bank. It also demonstrates how a banking model developed and scaled in an emerging market can deliver meaningful customer and business outcomes, contributing practical perspectives to the global conversation on the future of digital banking.

In September 2026, Cake was also named “Vietnam’s Best Digital Bank” by Euromoney under its Group Level Banking Awards, further recognizing the bank’s progress in strategy, technology, and business performance.

About the Qorus-Infosys Finacle Banking Innovation Awards

The Qorus-Infosys Finacle Banking Innovation Awards are jointly organized by Qorus, a global association for retail financial institutions, and Infosys Finacle, a digital banking solutions provider. Now in their 13th edition, the awards recognize innovative initiatives and banking models that deliver meaningful impact across the global financial services industry.

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