Major market players including Microsoft Corporation, SAS Institute, Inc. Market players are well aware of the challenges related to BI solutions faced by their customers.
#Software report business intelligence platform icon software#
The overall BI & analytics software market is highly competitive in nature. Growing Efforts towards Creating ‘Business-led BI’ to Ensure Highly Competitive Market Since 2015, India has been demonstrating a growth rate of nearly 20% in BI & analytics software market. Apart from China and Japan, India is set to emerge as the next promising market for BI & analytics solutions over the forecast period. Asia Pacific is set to register the highest growth rate during the forecast period. Europe follows North America on account of strong penetration in countries such as the U.K., Germany, France, Italy and some of the Nordic Countries. Additionally, with presence of numerous BI & analytics companies in the region, North America would continue dominating the market throughout the forecast period. Rapid growth in sectors such as smart grid, social media, energy management and several others has ensured huge consumer base for BI & analytics solutions in the nation. is one of the highest data generating countries in the world, making it a prominent market for BI & analytics. In 2017, North America dominated the overall business intelligence & analytics software market accounting for more 1/3rd of the global market value. North America to Retain Dominance on Account of High Penetration of BI & Analytics Tools With continued efforts by the service providers, cloud-based services have now emerged as secure, cost-effective, reliable and convenient deployment model. Since the past 4-5 years, overall cloud services sector has been witnessing double-digit growth worldwide. In the coming years, cloud-based business intelligence & analytics segment is expected to register high growth rate. As a result, majority of the large enterprises prefer deploying these solutions on-premise. Business intelligence & analytics involves handling huge volumes of data inviting high security concerns. Higher market share is mainly attributed to strong data security concern. In 2017, the on-premise business intelligence & analytics software led the global market with over 2/3rd value share.
On-premise Business Intelligence & Analytics is the Largest Segment Cloud-based Segment to Demonstrate the Highest Growth
Additionally, deploying BI & analytics solutions offer numerous benefits including faster & accurate reporting, improved data quality & analysis, better business decisions, enhanced operational efficiency and several others. Due to advent of social media networks, the amount of data is set to continue growing exponentially in following years, thereby driving the demand for related BI & analytics solutions. Consistently growing amount of data globally has ensured endless applications for business intelligence & analytics software. Business intelligence & analytics solutions have emerged among the most important tools for companies enabling them to make smart and data-driven decisions. The overall business intelligence & analytics software market expected to demonstrate robust growth rate during the forecast period from 2018 to 2026, up from US$ 12.87 Bn in 2017. Increasing Expenditure over Data Analytics to Drive the Demand for Business Intelligence & Analytics Solutions
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