According to a market research report “Business Intelligence and Analytics Software Market by Segment (BI platforms, CPM Suite, Advanced and Predictive Analytics, Content Analytics, Analytics Application), by Services, by Deployment Mode, by Org. Size, by Verticals, by Regions – Global Forecast to 2020”, segments the global market into service types, deployment models, organization size, and industry verticals along with in-depth analysis and revenue forecasts.
MarketsandMarkets forecasts that the global Business Intelligence and Analytics Software Market is expected to grow from $17.90 Billion in 2015 to $26.78 Billion by 2020, at a Compound Annual Growth Rate (CAGR) of 8.4%. In the current scenario, North America is expected to be the largest market on the basis of spending and adoption of Business Intelligence and Analytics Software Market.
Browse 67 market data tables with 58 figures spread through 156 pages and in-depth TOC on “Business Intelligence and Analytics Software Market by Segment (BI platforms, CPM Suite, Advanced and Predictive Analytics, Content Analytics, Analytics Application), by Services, by Deployment Mode, by Org. Size, by Verticals, by Regions – Global Forecast to 2020”
Business Intelligence and analytics is an amalgamation of two major segments which includes business intelligence and analytics. In fact as the data proliferates business intelligence needs more detailed analysis of large volume of structured and unstructured data, this introduced concept of analytics into business intelligence. Business Intelligence and Analytics extract important information from organizations data, thereby enhancing the business operations by analyzing the current and future course of action and taking strategic decision making. It provides visibility to every business process, therefore these solutions have ubiquitous role in every industry vertical. As the technologies evolve Business Intelligence and analytics has undergone numerous changes by adapting to the new trends.
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Business Intelligence and Analytics has high adoption rate in large enterprise as they have data support system and adequate capital that permit them to invest in this business optimizing software. Also, due to the increase of cloud adoption, the market of SMB’s in Business Intelligence and Analytics market is looking quite promising during the forecast period. The major challenges faced in this market are the acute shortage of knowledgeable and skilled workforce with sound technical capabilities to run the applications.
Further, the market remains to be competitive with the entry of niche players. These players provide innovative integrated software with insightful dashboards thereby increasing their market bargain capability among the large vendors. The major vendors in the Business Intelligence and Analytics Software market are IBM, Oracle, SAP, SAS, Microsoft, MicroStrategy, Qlik Technologies, Information Builders, Tableau Software, and many others.