Published on : Aug 22, 2016
ALBANY, New York, August 22, 2016: ResearchMoz.us has added a new report titled “Global Social Business Intelligence Market 2016-2020” to its offering. This report presents a comprehensive understanding of the market for social business intelligence. The growth prospects and current scenario of the market have been encapsulated in this study. The key growth drivers and leading trends in this market have also been presented. The prime challenges faced by prominent players in the market and the ways to overcome these hurdles have also been discussed in the study.
The report provides a brief introduction to the market and talks about key market highlights and the current and predicted size of the market by the end of 2020. As per the report, the global market for business intelligence is predicted to rise at a whopping 38.36% CAGR from 2016 to 2020.
Social business intelligence systems play a key role in the evaluation and retrieval of the enormous and constantly increasing volume of corporate data in businesses. These systems also aid businesses in the optimization of their decisions by discovering key weak signals. They help in designing indicator patterns for these businesses and assist in the identification of prime threats and opportunities.
The next part of the study offers a detailed segmentation of the social business intelligence market. On the basis of deployment, the report segments the market into on-premises and cloud-based business intelligence systems. Of these, the segment of cloud-based intelligence systems recorded the highest share of 75% in the market in 2015. This is owing to the fact that cloud-based solutions eradicate the need for making large one-time payments. In addition, a reduced need for trained personnel and upgrades will fuel the demand for cloud-based intelligence solutions.
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By end use, the report is categorized into government and enterprises. Of these, in 2015, the segment of enterprises held the largest share of approximately 85% in the market. This segment comprises a number of industries such as IT, retail, BFSI, telecommunication, and healthcare. The increasing use of business intelligence software in SMEs and the supportive policies implemented by governments in the BFSI and healthcare industries will stimulate the growth of the social business intelligence solutions in enterprises.
Geographically, the report segments the market into Asia Pacific (APAC), the Americas, and Europe, the Middle East, and Africa (EMEA). Of these, the Americas led the market in 2015 and constituted a share of approximately 53%. The prolific use of cloud-based business intelligence systems in government organizations and enterprises in the Americas will boost the growth of the market in this region.
Next, the key factors impeding and stimulating the growth of the market have been presented. The rising need for enterprises to enhance their market responsiveness is a prime factor fuelling the development of the market. Companies need to constantly gauge their competitive threats and customer needs and evaluate which components of their businesses are flourishing and which are not. On the other hand, the soaring costs of implementation of social business intelligence systems may negatively impact the growth of this market.
The report states that the leading players operating in the social business intelligence market include IBM, Oracle, SAP, SAS Institute, Adobe Systems, Attensity, Beevolve, Clarabridge, and Crimson Hexagon.
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