Business Information Market to grow by USD 80.42 billion from 2022 to 2027; Growth Driven by adapting enterprise business strategies to changing customer preferences- Technavio

NEW YORK, Oct. 27, 2023 /PRNewswire/ -- The "business information market by end-user (BFSI, healthcare and life sciences, manufacturing, retail, and others), application (b2b and b2c), and geography (North America, Europe, APAC, South America, and Middle East and Africa) - Forecast and Analysis 2023-2027" report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the business information market from 2022 to 2027 is USD 80.42 billion. Adapting enterprise business strategies to changing customer preferences is a key factor driving market growth.

Businesses in every industry operate in a dynamic business environment and must be aware of changes in customer behavior, preferences, and demographics. This helps businesses stay competitive, accelerate product development, and ensure a continuous stream of revenue from these products and services. Additionally, business intelligence service providers help organizations accurately analyze target audience behavior, actors, current marketing trends, and information on how the organization can modify products, services, and marketing and advertising tools to tactfully reach consumers. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here

Market Challenge

The threat of data misappropriation and theft is a significant challenge restricting market growth. Such confidential information could be made accessible to unauthorized persons and organizations, which may result in serious financial losses for businesses if any accidental or intentional data breach occurs. Additionally, using the cloud and sharing digital files between information providers and organizations can lead to data loss or theft if the connection is not secure. Corporate information providers such as Equifax, a US-based credit rating agency for individuals and businesses, were also targeted. In 2017, hackers stole the Social Security numbers of approximately 145.50 million US customers from Equifax data centers. Hence, these factors are expected to restrict market growth during the forecast period. 

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• The market share growth by the BFSI segment will be significant during the forecast period. Information provided to businesses on BFSI is of a wide variety, e.g. credit risk reports, personal credit scores, compliance solutions, collaboration, audit management, performance management business and commercial operations, market status reports, and forecast reports for individual sectors.

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Key Companies in the business information market:

Bloomberg L.P, Capita Plc, CQG, Deloitte Touche Tohmatsu Ltd., Equifax Inc., Experian Plc, FactSet Research Systems Inc., Informa Plc, Moodys Corp., Morningstar Inc., News Corp., Refinitiv, S and P Global Inc., Thomson Reuters Corp., Wolters Kluwer NV, Dun and Bradstreet Holdings Inc., Ernst and Young Global Ltd., KPMG International Cooperative, PricewaterhouseCoopers LLP, and RELX Plc

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The predictive analytics market size is estimated to grow at a CAGR of 22.24% between 2022 and 2027. The market size is forecast to increase by USD 2,1601.17 million. 

The business process automation (BPA) market size is estimated to grow at a CAGR of 14.47% between 2022 and 2027. The market size is forecast to increase by USD 9,951.8 million.

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by End-user

Market Segmentation by Application

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio