Christy Publications Business Intelligence and Analytics Market | Page 2

Market Taxonomy
This report segments the global business intelligence and analytics market on the basis of
deployment model, platform, services, organization size, verticals, and geography. For
comprehensive understanding of market dynamics, the market is analyzed across key
geographical regions namely North America, Europe, Asia Pacific, Latin America, Africa, and
Middle East. Each of these regions is analyzed based on the market findings across major
countries in these regions for a macro-level understanding of the market.
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Increasing requirement of analyzing real time data in various organization accelerated the
growth of the business intelligence and analytics market.
The increasing demand for real time data analysis dashboard has become one of the major trend
for the growth of the business intelligence and analytics market. In today’s world, due to
increasing stiff competition in the market, the analysis of real time data has become one of the
major requirement in various organization. Implementation of new technology, such as stream
mining in-database analytics and in-memory analytics provides real time analytic for situational
intelligence, fraud detection, and customer interactions. Moreover, the increasing installation
of Internet of things devices have generated large amount of real time data, which has increased
the demand for real time business intelligence and analytical tools. In 2015, near 145 zeta byte
per year data was generated by internet of things devices and is projected to reach 600 zeta
byte per by 2020.
The global business intelligence and analytics market was valued at US$ 16649.3 million in 2016
and is estimated to witness a CAGR of 9.4 % during the forecast period (2017 – 2025).
Increasing adoption of cloud technology provides growth opportunity to the business
intelligence and analytics software market.
The main factor for the increasing demand for business intelligence and analytics solution
system is the high adoption of cloud computing technology by small and medium enterprises.
Business intelligence is designed specifically to analyze huge data bases, which requires
enormous storage capacity. Cloud provides storage capacity to the resource intensive software
thus promising future growth in the unit. Cloud based business intelligence and analytics
software market will prosper owing to its cost effectiveness and instant implementing features.