Research conducted by Technavio reveals that the global business intelligence software market is expected to grow at a CAGR of 4.06 percent. The report, which focuses on the global market indicates, that the market is currently driven by the need for business intelligence software specifically among downstream segments among other factors.
With industries such as manufacturing, finance and insurance bouncing back after the recession, business intelligence tools are being increasingly employed. Business intelligence tools have been aiding various organizations to implement real-time decisions at strategic, operational, and tactical levels, reports Technavio analyst.
In spite of the growing trends, pricing and security issues continue to hinder the growth of this market. However, despite various challenges, adoption of business intelligence software continues to grow especially in the SaaS format.
The global business intelligence software market has been witnessing a steady shift towards predictive analysis. More and more vendors are introducing applications to make statistics, predictive analytic models and forecasting algorithms more consumable in reports. This makes the study an important one for companies to fully understand the potential in the market and formulate their own strategies.
The report, Global Business Intelligence Software Market 2010-2014, is based on an extensive research from inputs by industry experts, vendors and end-users. It examines the factors- including the key trends, drivers and challenges, impacting the evolution of this market. Further, it contains an in-depth understanding of the key vendors including their SWOT Analysis.
Companies mentioned in this report include: SAP AG, SAS, Oracle, Microsoft and IMB.
For further information, please visit https://www.technavio.com/content/global-business-intelligence-software-marke…
Growth in Downstream Segments Driving Growth of Business Intelligence Software
