Global Business Information Market 2017-2021
About Business Information
Business information services and solutions can be defined as systems, which provide syndicated information, trade publishing, and advisory services for decision-making in industries such as the finance, legal, media, healthcare, and scientific research. The business information solutions collect, process, and disseminate information.
Technavio’s analysts forecast the global business information market to grow at a CAGR of 5.2% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global business information market for 2017-2021. To calculate the market size, the report considers the revenue generated from sales of business information services and solutions to business professionals on a subscription basis.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Business Information Market 2017-2021
Technavio recognizes the following companies as the key players in the global business information market: Bloomberg, Dow Jones, Experian Information Solutions, RELX Group, Thomson Reuters, and Wolters Kluwer.
Other Prominent Vendors in the market are: Dun & Bradstreet, Equifax, FactSet Research Systems, Hoover's, Infogroup, Informa, S&P Global, Moody's Analytics, Morningstar, SIX Financial Information, and Tradeweb Markets.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is growth in healthcare information services. The growing demand for business information in the healthcare services segment is one of the major trends in the global business information market. Healthcare information providers offer important data related to fields like adult allergy and immunology, cardiology, dentistry, disease, and allied health information. In this sector, it is common for medical professionals to have access to electronic health records (EHR) on a personal digital assistant (PDA) or handheld device. This allows physicians to prioritize treatment and easily retrieve details regarding patients' progress. Vendors such as Thomson Reuters and Wolters Kluwer have recognized this need and have started offering wireless products to enable quick access to information, particularly in the healthcare information services segment.”
According to the report, one driver in the market is growing need to improve market responsiveness. The intense competition in the market has prompted the enterprises to increase the speed of processes that support competitive strategies, which reduce the cycle time. 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. In addition, to achieve a competitive advantage, organizations transform the data into actionable intelligence through constant improvement of customer-facing strategies. Many enterprises are using business information services to achieve their marketing targets effectively. Such benefits of business information services are leading to their increased adoption.
Further, the report states that one challenge in the market is easy availability of free business information. Easy access to the Internet has made business information freely available in the market. Many companies such as Hoover's and Experian Information Solutions have started providing free legal and financial information. Different governmental organizations have made information freely available in public sources. This availability of free information will reduce the demand for business information service providers. Though the information provided by such public sources may not always be very reliable, its availability might adversely affect the number of paid subscriptions for business information services.
Bloomberg, Dow Jones, Experian Information Solutions, RELX Group, Thomson Reuters, Wolters Kluwer, Dun & Bradstreet, Equifax, FactSet Research Systems, Hoover's, Infogroup, Informa, S&P Global, Moody's Analytics, Morningstar, SIX Financial Information, Tradeweb Markets.
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