GLOBAL BI AND ANALYTICS SOFTWARE MARKET 2016 TO GROW 8.84% BY 2022

The Global Business Intelligence and Analytics Software market is projected to reach $ 35.26 billion by 2022 growing at a CAGR of 8.84% during the forecast period 2014 to 2022. Rising data quantity, demand of mobile BI and analytics, soaring competition across businesses are some of the key factors fueling the market growth. However, the lack of skilled workers and high costs are the factors inhibiting the growth of the global business intelligence and analytics software market. Embedded business intelligence creates ample opportunities for the vendors of this market.

Locality- Based Intelligence is observed as the key market trend.

Cloud-based BI and analytics will be among the fast budding options within the coming years. The escalation of Business intelligence with Cloud will enhance the growth rate by almost more than 80% annually in the next two years. SAP continues to solidify its market leadership in BI and analytics with Oracle being the second-largest vendor in 2013.

IBM’s Social Media Analytics Software as a service tool is particularly good at helping digital marketers segment campaigns and discover new sentiments that their constituencies are engaging with. Tableau was the fastest growing business analytics software company in 2013, growing around 80% in a year.