About Business Information Services
The business information services market has shown a significant growth rate over the past decade. The growth and profitability of the market have been driven by the increasing importance of information and data in decision making. The industry's sound growth prospects and fundamentals will expand further with the emergence of cloud computing technology for data storage and processing. Moreover, growing defocus on business process automation and rising demand from small and medium-size enterprises expected to fuel the market growth during the forecasted period.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
In the present business scenario digital transformation across organizations changing more and more business processes hence market players are focusing on the technological developments towards increasing the efficiency of the cloud-based deployment model of business information services. Constant operational excellence is achieved in this industry which is a positive trend in the past few years. Technological development and innovation in products led to a rise in demand from end-users. This has also encouraged vendors to develop more advanced employee onboarding software. Hence, organizations must have its own unique competitive strategy to stand successfully in the market. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Business Information Services market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Bloomberg Inc. (United States), Dow Jones (United States), Experian Information Solutions (United States), RELX Group (United Kingdom), Thomson Reuters (Canada), Wolters Kluwer (Netherland), Dun & Bradstreet (United States), Equifax (United States), FactSet Research Systems (United States), D&B Hoovers (United States), Infogroup (United States) and Moody's Analytics (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Business Information Services market by Type (Cloud Computing, IT Security and IT Hardware) and Region.
On the basis of geography, the market of Business Information Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Organization Size, the sub-segment i.e. Small and Medium-Sized Enterprises will boost the Business Information Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Industry Vertical, the sub-segment i.e. Banking, Financial Services, and Insurance (BFSI) will boost the Business Information Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Emergence of IoT-Enabled Technologies in Business Information Services and Technological Advancement in the Business Information Services
Market Growth Drivers:
Increasing Adoption of Cloud Computing technology for Business Processes and Growing Focus on Business Process Automation
Challenges:
Lack of Awareness in the Emerging Economies
Restraints:
High Investment Costs of Business Information Services
Opportunities:
Increasing Adoption by Small and Medium Enterprises (SMEs) and Rising Demand from the End User Industries
Market Leaders and their expansionary development strategies
September 2023, Infosys announced its intention to acquire LeanIX, a leader in enterprise architecture management (EAM) solutions, for an undisclosed amount. This acquisition aims to strengthen Infosys' digital transformation offerings.
October 2023, S&P Global Market Intelligence launched Marquee by S&P Global, a next-generation intelligence platform offering comprehensive corporate financial data, news, and analytics.
Key Target Audience
Government Agencies, Commercial Research & Development Institutions, Government Organizations, Research Organizations, and Consulting Firms, Trade Associations and Industry Bodies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.