Industry Background:
Business information contains the information about reports, files, ledgers, competitive research, user & technical manuals, training guides and other documents which offer comprehensive details about business related activities. The services are provided by business analytics companies through subscription platform. These information help companies in better decision making and give a picture of industry insights and competitive landscape.
According to AMA, the market for Business Information is expected to register a CAGR of 5.24% during the forecast period to 2026. This growth is primarily driven by Increasing Demand for Business Information as it Serves as a Risk Management and Reduction Tool and Growing Need to Improve Market Responsiveness.
Globally, a noticeable market trend is evident Growing Use of Big Data Analytic Tools
. The Trading Companies & Distributors sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Manufacturers, such as Bloomberg [United States], Equifax [United Kingdom], Experian Information Solutions [United States], Thomson Reuters [Canada], Wolters Kluwer [Netherlands] and Moody's Corporation [United States] etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
July 2018 - : Equifax Acquires DataX to promote financial inclusion. “The combination of DataX’s data with Equifax’s unique and robust data assets will add more depth to consumer’s profiles and will help lenders expand borrowing options.” said Trey Loughran, president of United States Information Solutions at Equifax.
Regulatory Insights:
Business information services are subjected to data breach and it requires strong data protection laws. Global organization such as General Data Protection Regulation (GDPR) has stern rule regarding public data breach where companies are liable to pay 4 % of their annual turnover or €20 million, whichever is greater, in case of public data breach.
Market Drivers
- Increasing Demand for Business Information as it Serves as a Risk Management and Reduction Tool
- Growing Need to Improve Market Responsiveness
Market Trend
- Growing Use of Big Data Analytic Tools
- Rising Focus to Offer Customer-centric Solution
- Popularity of Smart Devices and Growing Digital Contents
Restraints
- Easy Access of Free Business Information Websites
- Lack of Interoperability Among Various Players
Opportunities
Rising Demand of Business Intelligence Tools Across Industries and Growing Popularity of Social Media
Challenges
Issues Related with Data Security and Privacy and Ability to Provide Consistence Accurate Data
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Manufacturers landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Business Information Study Sheds Light on
The Business Information Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Business Information industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Business Information industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.