Market Synopsis of Business Intelligence:
Market Overview and Forecast:
Business Intelligence Market is expected to grow at CAGR of ~11.0% from 2016 to 2022 and expected to reach market size of US ~$34.3 Billion by the end of forecast period.
Business Intelligence Market is growing rapidly with the emerging need of market intelligence. The growing demand of the business intelligence solutions among the small and large enterprise companies help to increase the utilization of their data in the optimum way. The usage of these solutions helps to simplify association, sharing and upgrade alignment with a single source for meticulous financial and operational information. Business Intelligence also boost insights to understand and analyze business completion and opportunities on profound level.
Business intelligence is unable to deliver self-service analysis or reporting, the BI tools are complicated and can be used by professionals within the organization. Analysis across multiple system also challenges the business intelligence tools as the data is often is across collection of different system and software. To unlocking the hidden data in system is also the major challenge faced by the business intelligence. The growing demand of business intelligence and analytics software is significant in large enterprises; however, small and medium organizations are also looking for investing in this software as the benefit associated with it encourages its adoption.
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The prominent players in the market of Business Intelligence (BI) are –
- Verizon wireless (U.S.)
- Rackspace (U.S.)
- AT&T (U.S)
- Cisco Systems (U.S.)
- IBM Corp. (U.S.)
- Juniper Networks (U.S.)
- VMware (U.S.)
- SAP SE (Germany)
- Microsoft Corp (U.S)
- SAS Institute (U.S)
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Business Intelligence Market
The Global Business Intelligence Market has been segmented on the basis of, technology, service, component, deployment, organization, and industry. By technology involves mobile BI, Cloud BI, Social BI and others. By Service includes managed service, hosted service and others. By Deployment includes On-Cloud and On-Premises. Whereas, by organization it includes small business units, by component it include hardware and software and large business units and by industry it is segmented into Telecom & IT, education, manufacturing, retail, banking and others.
Market Research Analysis:
Market Research Future Analysis shows that the growing demand of intelligence service in small and medium business units acts as a major contributor in the growth of global business intelligence market, due to its deployment and cost effective features. The implacable rise in large amount of data and customer interest in mobile mechanism has achieved new pathways which helps in the growth of this market. Cloud based business intelligence demand has significantly grown due to cost effective and easier classification features. Business intelligence has given the industry dynamic tool to improve operational efficiency. Business intelligence identify and develop the new cross sell and upsell opportunity and carry more online marketing campaigns. Business intelligence market is likely towards completion in North America and Europe. However emerging in the APAC and Latin America regions as they are investing in business intelligence for strategic decision making in the business process.
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