Published Date : May 22, 2017
ALBANY, New York, May 22, 2017 – The global business intelligence (BI) market has been anticipated to register a decent growth on account of primary driving forces such as the availability of potential applications and rising demand from developing economies, according to a report added by MarketResearchReports.biz. The report bears the title, “Global Business Intelligences (BI) Market Size, Status and Forecast 2022.”
Technology risks, government policies, and threat of substitutes have been expected to make the growth of the world BI market somewhat sluggish. However, growing demand for data analytics from companies operating worldwide and industry verticals such as banking, financial services, and insurance (BFSI) could offer reliable opportunities in the world BI market.
Foreseen by top analysts to rise at a healthy CAGR until 2022, the world BI market has been predicted to record a handsome demand owing to the need for BI tools to analyze and retrieve enlarging and significant amounts of discrete data generated in the corporate world. Enterprise applications, social networks, and the cloud could be top sources of a majority of corporate data generated on a regular basis. Businesses could determine threats and opportunities with the use of BI while formulating indicator patterns, identifying significant weak signals, and optimizing business decisions.
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Prognosticated to be one of the larger industry verticals by most leading market research intelligences, BFSI could generate demand in the international BI market on the back of a ballooning need to streamline security-related workload. The BFSI sector could attract more demand while riding on a swelling reliance on IT system-generated data engaged for executing financial transactions.
More opportunities have been prophesied to take shape in the international BI market due to the need of end users to focus on core activities rather than allotting additional time and labor for managing their IT environment. This could be easily achievable with the adoption of cloud-based BI solutions. Such solutions allow IT applications to be remotely accessed while integrating them with third-party applications, scaling them quickly, and securing enterprise IT architecture at all levels.
The report has covered some of the important geographies in the worldwide BI market, viz. Southeast Asia, India, China, Japan, European Union (EU), and the U.S. As forecasted by most researchers, the North America region covering the U.S. and Canada could attain a significant share in the worldwide BI market. This has been projected to be attributed to a surging focus on innovations acquired from aggressive research and development and technological activities.
With a long list of key competitors analyzed in the worldwide BI market research report, the authors have brought to light the key elements of their profiles, such as core business, solutions, services, and products, revenue earned over the five-year period 2012–2017, and recent developments. Tableau Software, Oracle Corporation, SAP SE, IBM Corporation, and Microsoft Corporation are some of the key players assessed in the report.
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