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.
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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
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.
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