In today’s business environment, rapid growth of structured and unstructured data generated by various organization have raised the trend of big data analytics. This data is either related to the product, customer, and competitor or is gathered through different digital channels. Analysis of data and requirement of insights are driving demand for business intelligence and analytics software and solutions. Moreover, increasing adoption of cloud computing technology by organizations has resulted in increasing demand for insights from unstructured data. Increasing utilization of IoT devices is another factor that is fueling growth of the business intelligence and analytics market globally. Additionally, increasing adoption of cloud based business intelligence and analytic tools by small and medium enterprises has created growth opportunities in the global business intelligence and analytics market.
Increasing demand for real time data analysis by organizations has become a key trend in the global business intelligence and analytic market. According to ’ analysis, by the end of 2020, near 600 zeta byte data is expected to be generated per year, which is an increase from 145 zeta byte in 2015. Increasing real time data has increased demand for in-memory analytics, in-database analytics, and stream mining technology as it offers real time analysis for fraud detection, customer interactions, and situational intelligence. This, in turn, has accelerated the global business intelligence and analytics market growth.
Browse 40 Market Data Tables and 60 Figures spread through 250 Pages and in-depth TOC on " Business Intelligence and Analytics Market by Deployment Model (Cloud, and On-Premises), by Platform Type (Business Intelligence, Corporate Performance Management Suite, Advance and Predictive Analytics, Content Analytics, and Analytics Application), by Services (Professional Services, and Managed Services), by Organization Size (Small and Medium Enterprises, and Large Enterprises), by Vertical and Geography-Global Forecast to 2027 by ."
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Key takeaways of the business intelligence and analytics market: