$26.50 Bn expected for Global Business Intelligence Market at 8.4% CAGR by 2021

According to the report, published by Zion Market Research,the global business intelligence market accounted USD 16.33 billion in 2015 and is expected to reach USD 26.50 billion by 2021, growing at a CAGR of around 8.4% between 2016 and 2021.

Business intelligence helps users with meaningful insights and helps them to make better decisions which will provide them an edge over their competitors. From an IT perspective, BI is an umbrella term that covers architecture, applications and databases. BI means a wide category of technologies that enable business users to gather, store, access and analyze data to make improved decisions. It allows data driven insights to analyze business performance. In general, the major features of BI solution available in the market includes Decision support systems, Querying and Reporting, Data mining, Online Analytical Processing (OLAP), forecasting and statistical analysis. Business Intelligence systems and tools play a major role in the strategic planning process of various organizations. At present organizations have to collect and deal with huge volumes of data from their operations. The data from various sources has to be consolidated, stored and abstracted for future references and strategic planning of business processes. BI tools and systems help organizations to tackle these challenges.

Request Sample copy of Research Report @ https://www.zionmarketresearch.com/sample/business-intelligence-market

North America is the largest region for Business Intelligence market. It accounted for around 56% of the market share globally in 2015. The growth in big data analytics and easy to operate features are some of the major factors for growth of the market in this region. The increasing growth in big data ecosystem requires a new way of storing & analyzing data for fast retrieval and analysis. Cloud analytics are mature, stable, reliable and scalable in memory analytical solutions. It is accelerating business intelligence (BI) tools, & other parts of BI environment, to cater to various business requirements. Cloud analytics is delivered all the way through the internet which in turn makes deployment time shorter, cost effective, and is easily installed in any organization.

Asia Pacific is expected to grow with the growing CAGR in the coming years. Australia will remain the region's one of the largest BI platform software market in the next few years. Growth in Australia's BI platform software market is accelerated by maintenance and new license revenue, with maximum clients in Australia looking at vendor consolidation as part of overall BI competency. As a developed market, Australia will maintain a more steady revenue stream from existing maintenance revenue, despite fears like economic downturn due to China and euro zone crisis. Apart from this the emerging economies in Asia Pacific is also showing healthy signs of Business Intelligence technology adoption.

China will remain the second-largest BI software market in Asia Pacific. Most often, Business Intelligence solutions in China are used tactically in departmental deployments as a reporting tool, rather than as strategic platform to build analytic capabilities to support decision making. Chinese organizations have relatively low level maturity of the demand of IT & analytic professionals which in turn creates extra challenges for BI technology implementation in China.

Browse detail report with in-depth TOC @ https://www.zionmarketresearch.com/report/business-intelligence-market

The European Business Intelligence market is expected to grow in the coming years. The drivers of European market include utility improvement in multiple domains, stable growth in big data, and effortless installment. However, the market in the European region is anticipated to grow at sustainable rate in the forecast period due to lack of knowledge of regulations.

Latin America is estimated to grow in the forecast period. Technological advancements, growing social media analysis for brand building, and the hunt of having competitive advantage are some of the key factors that are fueling the growth of the BI market in Latin America.

Middle East and Africa are growing gradually in the Business Intelligence market. There were a number of reasons slowing the market growth in 2013. The Middle East and Africa grew slightly faster than the worldwide growth rate of 8 % Confusion still holds around how to best influence analytics on large data. Much big data investment happened outside traditional BI in infrastructure, experimental silos, and services. Growth in IT budgets is flat & IT traditional BI tools are over bought.

Microsoft, IBM, Oracle, Microstrategy, GoodData, Targit, SAS, SAP, and Tableau Software are some of the top vendors in the business intelligence market.
Business Intelligence Market: Technology Segment Analysis
• Mobile BI
• Cloud BI
• Social BI
Business Intelligence Market: Deployment Segment Analysis
• Cloud BI
• On-Premises BI
Business Intelligence Market: Region Segment Analysis
• North America
o U.S.
• Europe
o UK
o France
o Germany
• Asia Pacific
o China
o Japan
o India
• Latin America
o Brazil
• Middle East & Africa

For More Inquiry contact our sales Team @ sales@zionmarketresearch.com

About Us
Zion Market Research is an obligated company. We create futuristically, cutting edge, informative reports ranging from industry reports, a company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client’s needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.

Contact US:
Zion Market Research
4283, Express Lane,
Suite 634-143,
Sarasota, Florida 34249, United States
Tel: +49-322 210 92714
USA/Canada Toll-Free No.1-855-465-4651
Email: sales@zionmarketresearch.com
Website: http://www.zionmarketresearch.com

This release was published on openPR.