Global Business Intelligence and Analytics Software Market is Expected to $26.78 Billion by 2019

Date: 2015-08-30

“The Business Intelligence and Analytics Software market is fast gaining traction primarily due to the increasing competition that forces organization to adopt business optimizing tools for better operations. These tools have unprecedented role ubiquitously in all the functional units such as marketing and sales, financial management, security, logistics, project management, and various others. Hence business intelligence and analytics plays unprecedented role in the cripple less business operations and provides easy integration to any CRM and ERP tools to present holistic view to organization data.

Business Intelligence and analytics market is tending towards maturity in the developed regions such as North America and Europe. However emerging regions such as APAC, MEA, and LA are rapidly investing in these tools for strategic and tactical decision making at every stage of business process. There are numerous driver s to this market as it is considered to be the fastest growing market in IT industry. The inexorable rise in large volume of data and shifting customer interest in mobile devices has generated new avenues in the market. Moreover social media is playing vital role in understanding customer’s behavior as a result of which social media analytics is the new trend which is expected to gain pace during the forecast period. 

The demand for cloud-based business intelligence and analytics software market is accelerating due to its cost-effective and easy deployment features. To increase the adoption rate in Small and Medium Businesses (SMB’s) vendors in these markets are coming up with technologies and solutions to cater their specific requirement of cost effectiveness. The market is quite competitive with the entry of niche players which provide innovative dashboards and promotes self-service BI and analytics, thereby increasing their market bargain capability among the large vendors. Though there is notable traction of Business Intelligence and Analytics Software in large enterprise, emergence of SaaS delivery models has increased its usage in SMB’s too. Still there are certain apprehensions restraining growth in this market. The foremost point is lack of lack of skilled and proficient workforce which leads to underutilization of tool and secondly the data integration issue.

Further, the report provides an in-depth analysis of the Business Intelligence and Analytics Software market across the segment and services types, deployment modes, organization sizes, industry verticals, and regions. The market is also segmented by region into North America (NA), Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and Latin America (LA). Among all the regions, North America holds the maximum market size whereas APAC is the major growing areas.

The global Business Intelligence and Analytics Software Market is expected to grow from $17.90 billion in 2014 to $26.78 billion by 2019, at a Compound Annual Growth Rate (CAGR) of 8.4%. The key players in this market include IBM, Oracle, SAP, SAS, Microsoft, MicroStrategy, Qlik Technologies, Information Builders, Tableau Software, and many others

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