Business Information Market 2023-2027. A descriptive analysis of the parent market, the five forces model, market dynamics and segmentation – Technavio

NEW YORK, December 20, 2022 /PRNewswire/ –According to Technavio, global business information marketplace size is estimated to increase by 80.42 billion dollars from 2022 to 2027. The market is estimated to grow by one CAGR of 8.2% during the forecast period. North America held the largest share of the global market in 2022, and the market in the region is estimated to witness an incremental growth of 43%.

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Business Information Market – Parent Market Analysis

Technavio categorizes the global business information market as part of the global data processing and outsourcing services market, which covers companies providing IT consulting and system integration services, application services, electronic data processing services , business process outsourcing services, infrastructure services and internet services. .

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The Global Business Information Market – The Five Forces
The global cloud data warehouse market is fragmented and five forces analysis covers-

• Bargaining power of buyers

• Threat of new entrants

• The threat of rivalry

• Bargaining power of suppliers

• Threat of substitutes

• Interpretation of Porter’s five models helps to strategize business, for all the details – buy the report!

The business information market – The customer landscape

The report covers the lifecycle of market adoption, from the innovator stage to the laggard stage. It focuses on adoption rates in different regions based on penetration. Additionally, the report also includes key buying criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global Business Information Market – Segmentation Assessment

Segment summary
Technavio has segmented the market based on type, end user (BFSI, healthcare and life sciences, manufacturing, retail and others), application (B2B and B2C) and geography (North America, EuropeAPAC, South AmericaAND Middle East AND Africa).

The story continues

• On the end-user side, market growth will be significant in the BFSI segment during the forecast period. The segment is driven by the increasing use of business information solutions in various applications such as credit risk reports, credit scores of individuals, compliance solutions, collaboration, audit management, corporate performance management and firm management.

Summary of Geography
By geography, the global business information market is segmented into North America, EuropeAPAC, South AmericaAND Middle East AND Africa. The report provides actionable insights and assesses the contribution of all regions to the growth of the global business information market.

• North America is estimated to contribute 43% to the global market growth during the forecast period. Early development and maturity of various sectors such as finance, healthcare, retail, automotive, information technology, telecommunication and others are driving the growth of the regional market. In addition, the growing need to understand customer preferences, latest trends and changing demographics is driving the growth of the business intelligence market in North America.

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Business information marketplace – Market Dynamics

The main factor driving the growth of the market

• The market is driven by the need for enterprise business strategies to meet changing customer preferences.

• Businesses across industries are constantly learning changing customer behaviors, preferences and demographics to tailor their business and promotional strategies accordingly.

• They are using business intelligence solutions for their target audience, understand current trends and develop marketing strategies to support and increase their market shares.

• The data obtained will also help companies to modify their products, services and marketing and promotion activities to reach customers tactfully.

• Thus, the growing need to adapt to changing customer preferences among enterprises will drive the growth of the global business intelligence market during the forecast period.

Key trends affecting the market

• Providing customer-centric solutions has been identified as a key trend in the market.

• Consumers are constantly looking for products and services that offer a better return on investment. Therefore, businesses are exploring opportunities to increase their brand value by offering products and services that meet evolving customer needs.

• To respond to this growing demand, vendors are developing customer-centric solutions that have a direct effect on their customers’ business goals, such as cost reduction, productivity improvement, and revenue growth.

• This is helping vendors expand their portfolio of offerings that include both conventional and data-centric solutions.

• This trend is expected to have a positive impact on the growth of the global business intelligence market during the forecast period.

Key challenges hindering market growth

• The threat of data misuse and theft is one of the major challenges hindering the growth of the market.

• Many enterprises use business information solutions through the cloud, which increases the risk of critical data being accessed by unauthorized entities. This can lead to data loss or theft if the connection is not secure.

• Such incidents can affect the reputation of business information providers and lead to a decrease in their income. This, in turn, will reduce the growth of the focus market.

Driver, Trend and Challenges are the factor of market dynamics that tell about the consequences and sustainability of businesses, find some insights from a sample report!

What are the key data covered in this business information market report?

• Market CAGR during the forecast period

• Detailed information on factors that will drive the growth of the business information market between 2023 and 2027

• Accurate estimation of the size of the business information market size and its contribution to the market in focus on the parent market

• Accurate predictions about future trends and changes in consumer behavior

• The growth of the business information market industry throughout North America, EuropeAPAC, South AmericaAND Middle East AND Africa

• A complete analysis of the competitive market landscape and detailed information about vendors

• Comprehensive analysis of the factors that will challenge the vendors’ growth of the business information market

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Table of Contents:

1 Executive summary

2 Market landscape

3 Market size

4 Historical market size

5 Five Forces Analysis

6 Market segmentation by end user

7 Market Segmentation by Application

8 Customer landscape

9 Geographical landscape

10 Drivers, Challenges and Trends

11 Seller landscape

12 Seller Analysis

13 Appendix

around us

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SOURCE Technavio