A recent report by TMR Research, titled, â€œBusiness Intelligence Market â€" Global Industry Analysis, Market Size, Share, Trends, Analysis, Growth, and Forecast 2017 â€" 2025,â€ projects this market to bode well in terms of a magnificent revenue gain thanks to a dire need for utilizing better business data management and associated processes.
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A rising employment of data analytics by organizations and businesses across the globe has been primarily responsible for driving the global business intelligence market. Companies who want to bring about advancements in their work styles are increasingly incorporating cloud-based business intelligence programs in their workflow, thereby largely contributing towards a better growth in the global business intelligence market. A rise in demand for better enterprise resource management and expansions in Enterprise Resource Planning (ERP), is also significantly driving the global business intelligence market.
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However, high initial costs needed to set up relevant systems and devices for facilitating business intelligence processes is hindering the market. Less awareness among companies is present in underdeveloped or developing countries where less opportunity for growth exists, is also hinders the market, Nonetheless, extensive research and innovations are carried by key players present in the market, promise to offset some of the restrains during the forthcoming years.
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A highly intense vendor landscape exists in association with the global business intelligence market. With numerous players entering the market regularly, the level of competition is expected to become more intense. Microsoft Corporation, IBM Corporation, Google Inc., Oracle Corporation, Cloud9 Analytics, Panorama Corporation, Tableau Software, Tibco Software, SAS Institute Inc., and Adaptive Planning are few key players operating in this market.
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