The global business information market was valued at almost USD37 billion in 2016 and is expected to surpass USD45 billion by 2021, says Technavio.
Technavio has announced its latest market research report on business information during the forecast period, 2017-2021. This market analysis, under the enterprise application vertical, discusses the major drivers and key emerging trends that will influence the growth of the global business information market during the forecast period. Some of the top vendors listed in this industry analysis include Bloomberg, Dow Jones, Experian Information Solutions, RELX Group, Thomson Reuters, and Wolters Kluwer.
In terms of geographical analysis, the Americas will be the largest region in the global market, and is expected to reach revenues of close to USD22 billion by 2021. The US will emerge as the key revenue generator in this region.
“The increase in the integration of online and offline information services will contribute to the growth in the business information market. Some of the integrated services available in the market include content services with their print media services and services over smartphones and tablets. The end-users can utilize business resources that extend beyond a single device with the integrated services offered by the various companies in the market. These services provide quick delivery of accurate information, assisting in improved decision-making processes,” says Ishmeet Kaur, a lead analyst at Technavio for research on an enterprise application.
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The new industry research report from Technavio analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
High adoption of business intelligence tools
The increasing adoption of data analytics is driving the growth in the business intelligence tools market. Business information tools are the corporate data sources that include data generated from enterprise applications, data from social media, and other mobile applications. These tools help enterprises reduce operational costs and improve their overall operational efficiency. The integration of various analytics tools is a mix of business information services and business intelligence tools to create reliable and actionable insights. The increasing awareness of the benefits of business intelligence tools will contribute to the evolution of this market.
Growing need to improve market responsiveness
The companies are speeding the processes that support competitive strategies which reduce the operational cycle time to sustain the competition in the market. Business information services provide real-time data that enable organizations to avoid process delays and centralize management to improve their market response and decision-making. The transformation of the data into actionable intelligence through constant improvement of customer-facing strategies will help the business to gain a competitive advantage over other players in the market.
Popularity of smart devices and rapid digitization of content
The digitization of content and increasing use of smartphones and tablets will promote the requirement for business information in regular operations of a company. The business information available in the market is provided by Internet newsgroups, online versions of newspapers and magazines, and trade associations. The information offered can pertain to demographics and markets, economics, finance and banking, international trade, foreign investment information, and government regulations and laws.
Other prominent vendors identified in this report are Dun & Bradstreet, Equifax, FactSet Research Systems, Hoover’s, Infogroup, Informa, S&P Global, Moody’s Analytics, Morningstar, SIX Financial Information, and Tradeweb Markets.
This research report includes an in-depth analysis, market shares and sizes of the sub-segments and geography. It provides a comprehensive analysis of the key companies, including their market shares, business overview, and key financials. The market study also offers a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Business Information Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Business to Business Media Market 2016-2020
- Global Building Information Modeling Software Market 2016-2020
- Global Enterprise Information Management Market 2016-2020
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