PUNE, India, January 10, 2017 /PRNewswire/ --
According to a new market research report "Mobile BI Market by Type (Software, Services), Business Function (IT, Finance, Sales, Marketing, Operations, HR), Business Application, Organization Size (SMES, Large Enterprises), Industry Vertical and Region - Global Forecast to 2021", published by MarketsandMarkets, the Mobile Business Intelligence (BI) Market is estimated to grow from USD 4.08 Billion in 2016 to USD 11.13 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 22.2%.
Browse 81 market data Tables and 59 Figures spread through 165 Pages and in-depth TOC on "Mobile BI Market"
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The major forces driving the Mobile BI Market are increasing Bring Your Own Device (BYOD) trend, rise of Mobile Enterprise Application Platform (MEAP), growing popularity of Representational State Transfer Application Programming Interface (REST APIs), proliferation of in-memory computing, and rapid advancement of mobile device features. The Mobile BI Market is growing rapidly because of the transformation from traditional BI techniques for analyzing business data to advanced techniques and the massive surge of flowing structured and unstructured data.
Sales business function expected to grow at the highest CAGR
Mobile BI tools and services are used for various business functions, which include Information Technology (IT), marketing, finance, sales, operations, and Human Resource (HR). Sales are expected to witness the highest CAGR during the forecast period among all business functions because of the increasing need for sales departments across industry verticals for shortening the sales cycle and maximizing cross-sell and up-sell opportunities across organizations.
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BFSI is estimated to have the largest market size in 2016
The Mobile BI Market is also segmented by various industry verticals, out of which the adoption of mobile BI is expected to be the largest in the Banking, Financial Services, and Insurance (BFSI) vertical as the volume and variety of data is increasing day-by-day with the growing demand of IT systems for financial transactions in banks and other financial service institutes.
North America is expected to dominate the Mobile BI Market during the forecast period
North America is expected to hold the largest share of the Mobile BI Market in 2016 due to the technological advancements and early adoption of BI solutions in the region. The market in Asia-Pacific (APAC) is expected to grow at the highest CAGR from 2016 to 2021. The primary driving forces for this growth are increasing technological adoption and huge opportunities across industry verticals in the APAC countries, especially India, China, and Japan.
The Mobile BI Market report also encompasses different strategies, such as mergers & acquisitions, partnerships & collaborations, and product developments, adopted by the major players to increase their share in the market. Some of the major technology vendors include IBM Corporation (U.S.), SAP SE (Germany), Microsoft Corporation(U.S.), Oracle Corporation (U.S.), MicroStrategy (U.S.), SAS Institute (U.S.), Tableau Software (U.S.), Information Builders (U.S.), TIBCO Software (U.S.), Yellowfin International Pty Ltd. (U.S.), and Qlik Technologies (U.S.).
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