Global Business Information Market 2019-2023 | Automation in Gathering Business Information to Boost Growth | Technavio
LONDON--(BUSINESS WIRE)--Nov 18, 2019--
The business information market size is expected to post a CAGR of over 5% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global business information market 2019-2023 (Graphic: Business Wire)
The growing need to adapt enterprise business strategies to changing customer preferences is one of the major reasons for the business information market growth. The awareness about the changing customer preference, behavior, and demographics is important for companies to stay competitive and ensure continuous flow of revenue. As a result, companies are focusing on fast tracking their product development process. Business information service providers help companies boost their market share and revenue by analyzing the competition in the market. They also suggest appropriate products, services, marketing strategies along with branding and promotional tools to target the customers.
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As per Technavio, automation in gathering business information will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Business Information Market: Automation in Gathering Business Information
Information solution providers have realized that a lot of effort and time can be reduced by investing in technology which automates the data capture and analysis process. Hence, business information providers are focusing on differentiating their offerings by designing their workflow to align with the adopted technology. For instance, many service providers are introducing online tools, which are taking a direct feed from social media sites such as Twitter, Facebook, and others by picking up various discussion threads. The automation of these processes aids in the creation of products backed up by relevant data points. Thus, automation in gathering business information is expected to be a key business information market trend during the forecast period.
“Other factors such as the provision of customer-centric solutions, and the growing adoption of big data will have a significant impact on the growth of the business information market value during the forecast period,” says a senior analyst at Technavio.
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Business Information Market: Segmentation Analysis
This market research report segments the business information market by end-user (BFSI, healthcare and life sciences, manufacturing, retail and others) and geography (the Americas, APAC, and EMEA).
The Americas led the market in 2018, followed by EMEA, and APAC respectively. However, the APAC region is expected to register the highest incremental growth due to seversl factors such as rapid economic growth, growing consumption of mobile-based business information services, new product development and innovative marketing strategies by vendors in the region.
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Some of the key topics covered in the report include:
Five Forces Analysis
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