As the popularity of big data continues to grow, the business intelligence and analytics software market is reaching new levels of maturity.
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At the end of May, Markets and Markets released a global forecast to 2020 regarding the business intelligence and analytics software market. All signs point to healthy activity.
According to the report, the market for business intelligence and analytics software is expected to grow at a compound annual growth rate of 8.4 percent until 2019, eventually reaching a value of 26.8 billion.
Researchers anticipated that banking, financial services and insurance sectors will likely adopt these solutions are a higher rate than ever in the next five years, while retailers and IT firms will account for a large share of the market. Furthermore, manufacturing and media companies also plan to rapidly procure business intelligence and analytics software.
With IBM, Microsoft and Oracle still leading the pack in this market, businesses can expect to deploy a solution from one of those providers in the coming years.
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