Regression Analysis Tool Market Size, Share, and COVID Impact Analysis, By Deployment (Cloud and On-premise); By Type (Simple Linear Regression Tools and Multiple Linear Regression tools), By End-user (BFSI, Retail, Education, Healthcare & Hospitality, Media & Entertainment, Transportation & Logistics, and Others), and Regional Forecast, 2024-2032
KEY MARKET INSIGHTS
Regression analysis is a statistical method that describes the relationship between independent & dependent variables and also determines the strength between these two variables. It helps to predict the real values such as age, temperature, price, salary, etc. This method is useful for measuring the independent variable's impact on the dependent variable using various graphical and numeric tools.
Different industry verticals can use regression analysis tools to increase productivity, reduce the operational time cycle, and also helps to provide accurate analysis of production. Regression analysis helps organizations to learn what data points represent using business analysis techniques to make better use of data points and to make better decisions. The growing usage of regression analysis tools in businesses helps to predict errors by doing accurate operational analysis and providing deep insights about product sales and profit.
Impact of COVID-19 on the Regression Analysis Tool Market
The COVID-19 pandemic has brought disruptions in the transportation and logistics industry, resulting in falling consumer demand. The pandemic generated the demand for adopting regression analysis tools across various industries such as healthcare, transportation & logistics, retail, and agriculture, to predict the future and find recovery measures to enhance productivity.
The regression analysis statistical method is considered an important tool to estimate the real-time impact on data analysis due to the covid disease. The regression analysis tool during the pandemic is used to predict the accurate short-term forecast of the expected covid patients.
- According to Researchgate.net, in May 2020, during the pandemic situation, regression analysis was performed to investigate the COVID-19 outbreak in India and its various states. The linear regression model has projected the recovery rate (RR) to be 43.1% and the case fatality rate (CFR) to be 3.14% within India and its different states with 95% of accuracy.
Therefore, the increasing use of regression analysis method during the pandemic situation propels the demand for regression analysis tool during the forecast period.
Segmentation
By End-users – The regression analysis tool is used across various industry verticals such as BFSI, retail, education, healthcare, media & entertainment, finance, transportation & logistics, and others (Agriculture, etc.). In the healthcare and BFSI sectors, the regression analysis method is useful for improving decision-making while managing large and complicated data through predictive price modelling techniques.
Key Insights
The report will cover the following key insights:
- Micro Macro Economic Indicators
- Drivers, Restraints, Trends, and Opportunities
- Business Strategies Adopted by the Key Players
- Impact of COVID-19 on the Global Regression Analysis Tool Market
- Consolidated SWOT Analysis of Key Players
Regional Analysis
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The global regression analysis tool market is distributed into five regions: North America, South America, Europe, the Middle East & Africa, and Asia Pacific.
North America is projected to hold the largest market share due to many key players delivering regression analysis tools and software and the rising usage of cloud-based regression analysis tools among various industries across the region.
Asia Pacific is expected to grow continuously due to the effective use of regression analysis methods in countries like India, China, and Japan to predict the number of COVID patients during the pandemic.
The distribution of the global regression analysis tool market by region of origin is as follows:
- North America – 32%
- South America – 9%
- Europe – 19%
- Middle East and Africa – 12%
- Asia Pacific – 28%
Key Players Covered
The key players in this market include Qualtrics LLC, Alchemer, Microsoft Corporation, IBM Corporation, GraphPad Software, Inc., TIBCO Software, StataCorp, QuestionPro, Voxco, Lumivero, and others.
Segmentation
By Deployment | By Type | By End-users | By Region |
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- Ongoing
- 2023
- 2019-2022
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