Business Intelligence and Analytics Software Market - Global Forecast to 2021
Business Intelligence and Analytics has high adoption rate in large enterprise as they have data support system and adequate capital that permit them to invest in this business optimizing software . Also , due to the increase of cloud adoption , the market of SMB ’ s in Business Intelligence and Analytics market is looking quite promising during the forecast period . The major challenges faced in this market are the acute shortage of knowledgeable and skilled workforce with sound technical capabilities to run the applications .
Further , the market remains to be competitive with the entry of niche players . These players provide innovative integrated software with insightful dashboards thereby increasing their market bargain capability among the large vendors . The major vendors in the Business Intelligence and Analytics Software Market are IBM , Oracle , SAP , SAS , Microsoft , MicroStrategy , Qlik Technologies , Information Builders , Tableau Software , and many others .
It also identifies the drivers , restraints , and opportunities prevalent in the market and provides burning issues along with premium insights for the market . The report also segments the market by sub-vertical : government , BFSI , retail , IT and telecom , manufacturing , retail , education , media and entertainment , energy and power , and others ( transportation and logistics , and hospitality ); and by region : North America , Europe , Asia-Pacific , Middle East and Africa , and Latin America . The detailed analysis of the key industry players have been done to provide the insight on their product and services , strategies , and recent developments associated with the Business Intelligence and Analytics Software Market .
MarketsandMarkets forecasts that the global Business Intelligence and Analytics Software Market is expected to grow from $ 17.90 Billion in 2015 to $ 26.78 Billion by 2020 , at a Compound Annual Growth Rate ( CAGR ) of 8.4 %. In the current scenario , North America is expected to be the largest market on the basis of spending and adoption of Business Intelligence and Analytics Software Market .
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