The business analytics & enterprise software publishing market is in the dawn of its growth potential.
New York, NY -- (SBWIRE) -- 11/11/2016 -- The business analytics & enterprise software publishing market includes publishing activities for business analytics solutions such as predictive analysis software and enterprise software solutions such as enterprise resource planning. Recently, business analytics and enterprise software publishing industry has witnessed a steady growth and with technological advancements the market is anticipated to witness a steady growth throughout the forecast period. Owing to this IT companies are majorly focusing on design and development of effective business analytics tools including basic reporting to advanced and complex forecasting and data mining tools. These solutions allow businesses and data analysts to extract future insights from the provided corporate data which when transformed to actions, delivers high levels of profitability and efficiency to the enterprise. Technologically advances in business intelligence and analytics software such as Analytics Pro (by SAS) are driving this market. Small scale businesses look for software, including enterprise resource planning and customer relationship management applications and therefore are potential opportunities for this market.
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Low rate of interest and one-time tax benefits to upgrade information technology (IT) infrastructure is luring corporations to incorporate changes in their existing IT services. This trend is a major driver for the business analytics & enterprise software publishing market. The business analytics & enterprise software publishing market is characterized by mergers and acquisitions wherein large companies acquire small competitors in order to expand their product and service offerings, and to escalate its sales revenue. Software companies are spending huge amounts for acquiring high performance cloud computing businesses and enterprise software vendors. For instance, Oracle acquired Hyperion Solutions Corporation, Siebel CRM Systems Inc., PeopleSoft, Nimbula, Inc. and Taleo Corporation. Similarly, IBM Corporation acquired SPSS Statistics, Cognos Inc., SoftLayer Technologies Inc. and Varicent Software Inc. These acquisitions have aided software vendors to increase its product offerings and in turn its customer base. Most of the companies have transformed from traditional software solutions to Software as a Service (SaaS). They are offering cost effective cloud models, in order to retain existing corporate customers. The latest web based pay-as-you-go service will allow firewall restricted business applications to access any secure internet connection.
The business analytics & enterprise software publishing market is concentrated with four firms controlling a majority of industry share (IBM Corporation, Oracle Corporation, SAP AG, and Microsoft Corporation). The market witnesses fewer products from the major companies competing among each other to obtain competitive edge. Moreover, various licensing schemes and government regulations have tend to lead customers towards brands.
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The business analytics & enterprise software publishing market is in the dawn of its growth potential. With technological advancements, innovative predictive analysis tools are expected to get introduced in near future which will unlock new business avenues for this market.