Research conducted by Technavio reveals that the global business intelligence software market is expected to grow at a CAGR of 4.06 percent. Also mentioned in the company's news release on Online PR Media is that the BI software market is currently driven by the need for business intelligence software specifically among downstream segments among other factors.
"With industries such as manufacturing, finance and insurance bouncing back after the recession, business intelligence tools are being increasingly employed. Business intelligence tools have been aiding various organizations to implement real-time decisions at strategic, operational, and tactical levels, reports Technavio analyst.
"In spite of the growing trends, pricing and security issues continue to hinder the growth of this market. However, despite various challenges, adoption of business intelligence software continues to grow especially in the SaaS format."