London, 26 June 2015: Technavio, the independent tech-focused global research firm, has published a report on the global business intelligence market 2015-2019, which is expected to grow at a CAGR of 8.25% during the forecast period of 2014-2019.
Recent increase in the volume of data generated from social networking sites is a major factor that enhances market growth. Many organizations are using business intelligence solutions to help their users in making informed decisions, solving customer issues, managing risks, and making investment decisions. Business intelligence also finds applications in the banking, financial services, and insurance (BFSI) sector as it increases efficiency and helps in formulating marketing strategies. All these factors combined promote growth in the global business intelligence market.
“Social media has evolved to provide better solutions for integrating with BI software, which is enabling organizations to share a detailed description of their products and services with potential customers worldwide,” says Faisal Ghaus, Vice President of Technavio.
“Previously, social media was not advanced enough to integrate with old software and help organizations but now many large organizations and SMEs are increasing their social media presence to improve their return on investment (ROI).”
Key Market Drivers:
- Increased Awareness of BI Benefits.
- High Demand for Data Analytics.
- Increased Usage of Cloud BI by SMEs.
- High Volume of Data from Social Networking Sites.
Key Market Trends:
- Emergence of Social BI.
- Increased Focus on SMEs.
- Rise in Adoption of Cloud BI and Analytics.
- Popularity of Mobile BI Solutions.
Key Market Vendors:
- IBM Corp.
- Microsoft Corp.
- Oracle Corp.
- SAP AG
- SAS Institute Inc.
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
