Published on : Jan 19, 2017
ALBANY, NY, Jan 19, 2017: The research study throws light on the key factors that are estimated to encourage the growth of the market in the near future. In addition, the key segmentation of the global business intelligence software market, along with the latest trends and challenges have been highlighted to offer a strong understanding of the overall market.
The rising adoption of data analytics, the tremendous rise in data availability, and the improved efficiency of business intelligence tools are some of the key factors that are estimated to fuel the growth of the global business intelligence software market in the forecast period. In addition, the integration with social media is predicted to accelerate the growth of the market in the near future. On the other hand, the high cost of implementation and complexities related to these software are estimated to restrict the growth of the market in the next few years.
On the basis of product type, the global business intelligence software market can be categorized into managed service, deployment and integration, professional services, and others. Furthermore, in terms of application, the market can be divided into government agencies, listed companies, private enterprises, and others. In order to offer a detailed overview of the global business intelligence software market, the market size, share, and the anticipated growth rate of each segment have been provided in the scope of the research study. In addition, with the increasing number of new products in the market, the application base is expected to expand, thus fuelling the growth of the overall market in the next few years.
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The global market for business intelligent software can be classified on the basis of geography into Taiwan, Japan, North America, Europe, China, and Korea. Among these segments, North America is projected to lead the global business intelligence software market and hold a key share throughout the forecast period. The high growth of this region can be attributed to the increasing adoption of cloud business solutions throughout the forecast period. In addition, the U.S. is considered to contribute extensively towards the development of the business intelligence software market throughout the forecast period. The other regional segments are expected to witness significant growth in the near future.
Some of the leading players operating in the business intelligence software market across the globe are Yellowfin International, Oracle, Information Builders, Microsoft, Teradata, IBM, Qlik, SAP AG, Tableau Software, MicroStrategy, and SAS. These players are making notable efforts to enhance their market presence through the expansion of product portfolio and application base. Additionally, the growing focus on research and development activities and innovations in this field are some of the major factors that are likely to fuel the growth of the overall market throughout the forecast period.
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