This market research report provides a comprehensive segmentation of the global business intelligence market by technology (traditional, mobile, social, and cloud) and deployment model (cloud and on-premise). It outlines the market shares for key regions such as the Americas, EMEA, and APAC. This report also presents an insightful analysis of the leading vendors such as IBM, Microsoft, Oracle, SAP, and SAS Institute.
Technavio has released updated information on the BI market, with the publication of its new market research report, global BI market. The global BI market is expected to grow at a CAGR of around 10% between 2016 and 2020. The growing adoption of data analytics by organizations worldwide is a key driver for the growth of this market. BI tools are useful in the retrieval and analysis of this vast and growing volume of discrete data. The Americas occupy around 56% of the total market share, owing to the high adoption of cloud BI solutions in this region.
“With increased use of smart devices such as smartphones and tablets, several organizations are providing work-from-home options to enhance employee mobility. This has resulted in an increase in the number of employees working from remote locations. This has encouraged vendors to come up with several mobile BI applications that enable users to use high-quality services on the move,” says Amrita Chaudury, Lead Analyst, ICT, Technavio Research.
The increased acceptance of cloud BI solutions by SMEs is also boosting the growth of this market. The adoption of cloud services allows end-users to concentrate on core activities rather than managing their IT environment. Cloud BI solutions enable applications to be scaled quickly, can be easily integrated with easy integration with third-party applications, and provides security at all levels of the enterprise IT architecture so that these applications can be accessed remotely.
The key vendors in the global BI market include IBM, Microsoft, Oracle, SAP, and SAS Institute. Microsoft is one of the largest BI vendors and offers Power BI, which helps to deliver business-user-oriented, self-service data preparation and analysis needs through Excel 2013 and Office 365. The competitive environment in this market is expected to intensify during the forecast period due to an increase in R&D innovations and mergers. The market is also expected to witness a growing trend of acquisitions by the leading players. The key players in the market are expected to diversify their geographical presence during the forecast period.
A more detailed analysis is available in the Technavio report, Global BI Market 2016-2020.
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