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
The Business Intelligence and Analytics Software market is fast gaining traction primarily due to the increasing competition that forces organization to adopt business optimizing tools for better operations. These tools have unprecedented role ubiquitously in all the functional units such as marketing and sales, financial management, security, logistics, project management, and various others. Hence business intelligence and analytics plays unprecedented role in the cripple less business operations and provides easy integration to any CRM and ERP tools to present holistic view to organization data.
Business Intelligence and analytics market is tending towards maturity in the developed regions such as North America and Europe. However emerging regions such as APAC, MEA, and LA are rapidly investing in these tools for strategic and tactical decision making at every stage of business process. There are numerous driver s to this market as it is considered to be the fastest growing market in IT industry. The inexorable rise in large volume of data and shifting customer interest in mobile devices has generated new avenues in the market. Moreover social media is playing vital role in understanding customer’s behavior as a result of which social media analytics is the new trend which is expected to gain pace during the forecast period.
The demand for cloud-based business intelligence and analytics software market is accelerating due to its cost-effective and easy deployment features. To increase the adoption rate in Small and Medium Businesses (SMB’s) vendors in these markets are coming up with technologies and solutions to cater their specific requirement of cost effectiveness. The market is quite competitive with the entry of niche players which provide innovative dashboards and promotes self-service BI and analytics, thereby increasing their market bargain capability among the large vendors. Though there is notable traction of Business Intelligence and Analytics Software in large enterprise, emergence of SaaS delivery models has increased its usage in SMB’s too. Still there are certain apprehensions restraining growth in this market. The foremost point is lack of lack of skilled and proficient workforce which leads to underutilization of tool and secondly the data integration issue.
Further, the report provides an in-depth analysis of the Business Intelligence and Analytics Software market across the segment and services types, deployment modes, organization sizes, industry verticals, and regions. The market is also segmented by region into North America (NA), Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and Latin America (LA). Among all the regions, North America holds the maximum market size whereas APAC is the major growing areas.
The global Business Intelligence and Analytics Software Market is expected to grow from $17.90 billion in 2014 to $26.78 billion by 2019, at a Compound Annual Growth Rate (CAGR) of 8.4%. The key players in this market include IBM, Oracle, SAP, SAS, Microsoft, MicroStrategy, Qlik Technologies, Information Builders, Tableau Software, and many others
MarketsandMarkets expects that BFSI, retail, IT and telecom vertical will account for the largest market share throughout the forecast period. However, there are a few revenue pockets, namely healthcare, manufacturing and media and entertainment that will witness significant growth in this period.
There are various assumptions that have been taken into consideration for the market sizing and forecasting exercise. A few of the global assumptions include political, economic, social, technological, and economic factors. The dollar fluctuations are expected to not seriously affect the forecasts in the emerging regions.
The report will help the market leaders or new entrants in this market in the following ways:
1. This report segments the market into various sub-segments covering this market comprehensively. The report provides the closest approximations of the revenue numbers for the overall market and the sub-segments. The market numbers are further split across the different end users and regions.
2. This report will help in the better understanding of the competitors and gain more insights to better one’s position in business. There is a separate section on competitive landscape, which includes competitor ecosystem, and mergers and acquisitions, partnerships, and agreements. Besides, there are company profiles of ten players in this market. In this section, market internals are provided that can put one ahead of the competitors.
3. The report also helps in understanding the overall growth of the market. It provides information on key market drivers, restraints, challenges, and opportunities.
Scope of the Report
The research report categorizes the Business Intelligence and Analytics Software market to forecast the revenues and analyze the trends in each of the following sub-markets:
On the basis of segment and services:
Business Intelligence (BI) Platforms
Corporate Performance Management (CPM) Suite
Advanced and Predictive Analytics
On the basis of deployment modes:
On the basis of organization size:
Small Medium Business (SMB’s)
On the basis of verticals:
Banking, Financial Services, and Insurance (BFSI)
IT & Telecom
Energy and Power
Media & Entertainment
Others (transport & logistics, and hospitality)
On the basis of regions
North America (NA)
Middle East and Africa (MEA)
Latin America (LA)