Business Information Market Size to grow by USD 68.7 billion between 2024-2028
According to a research report “ Business Information Market” by End-user (BFSI, Healthcare and life sciences, Manufacturing, Retail, Others) Application (B2B, B2C) Geography (North America, Europe, APAC, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 68.7 billion, at a CAGR of 6.79% during the forecast period. In today's business landscape, companies must adapt to the ever-evolving customer landscape to remain competitive. Understanding customer behaviors, preferences, and demographics is crucial for product development, revenue generation, and market positioning. Business information market providers offer valuable insights, enabling organizations to analyze their target audience's purchasing patterns, lifestyle trends, and marketing preferences. By leveraging this intelligence, businesses can strategically modify their offerings, marketing, and promotional tactics to effectively engage consumers and capture market share..
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By End-user, the BFSI segment is projected to dominate the market size in 2024
In the dynamic business environment of the Banking, Financial Services, and Insurance (BFSI) sector, access to accurate and timely information is crucial. Vendors in the global Business Information Market offer various types of data to help organizations make informed decisions. These include credit risk reports, individual credit scores, compliance solutions, collaboration tools, audit management systems, corporate performance management tools, and industry-specific historical and forecast reports for trading purposes. Key players in this market, such as Thomson Reuters, RELX Group, and Experian Information Solutions, are particularly prominent in financial business information. In fast-paced economies, managing credit risk is a significant challenge for BFSI companies. Business information providers play a vital role in enabling responsible lending and safeguarding both the organizations and their customers from potential credit risks.
By Application, B2B segment is expected to hold the largest market size for the year 2024
The B2B sector of the global business information market plays a pivotal role in various industries, including finance, healthcare, and manufacturing, by offering data-driven insights and solutions. In finance, B2B business information facilitates risk assessment, investment analysis, and compliance management, ensuring regulatory adherence and informed decision-making. For healthcare, these solutions provide valuable data on patient demographics, market trends, and regulatory changes, enabling strategic planning and enhanced patient care. In manufacturing, they optimize supply chains, forecast demands, and deliver competitive intelligence, boosting operational agility and cost efficiency. Key drivers for the BFSI segment include increasing regulatory demands and the need for real-time data analytics. In healthcare, the transition to value-based care and personalized medicine fuels the demand for comprehensive data solutions.
North America is forecasted to hold the largest market size by region in 2024
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The Business Information Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The Business Information Market is a dynamic and evolving industry that provides up-to-date and accurate information to businesses in various sectors. CRM systems and on-demand solutions, including cloud-based solutions, play a significant role in delivering valuable information to businesses. These systems help organizations manage customer relationships, financial data, and industry databases, among other critical assets. In today's data-driven business environment, access to pertinent information is crucial for making informed decisions. Cloud computing and big data solutions, such as machine learning (ML) and artificial intelligence (AI), enable businesses to analyze vast amounts of data and gain insights that can drive growth and innovation. However, with the increasing reliance on digital information sources comes the risk of security breaches and cyber threats. Manufacturing, healthcare, finance, and other industries must prioritize the security of their critical assets and ensure the accuracy and relevance of the information they use for decision-making. The information industry offers a range of valuable content, including financial data, medical content, technical content, and scientific content, among others. While some information is freely available, other content may be paid, requiring businesses to assess the value and relevance before making a transaction. Ultimately, the Business Information Market is an essential partner for businesses seeking to stay informed, competitive, and successful in today's data-driven economy.
Market Research Overview
The Business Information Market is a dynamic and evolving industry that caters to the informational needs of large enterprises across various sectors, including IT and telecom, finance and banking, and retail, among others. Businesses require up-to-date, accurate information for informed decision-making, and business information providers deliver this through a range of offerings such as dashboards, data feeds, API integration, custom research services, and online subscriptions. A customer-centric approach, data quality assurance, data partnerships, personalized services, user-friendly interfaces, and analytics capabilities are key features of technology solution providers and data analytics companies in this market. Advanced technologies like ML and AI, big data solutions, cloud computing, and on-demand solutions are driving business maturity and digitalization. Industry-specific solutions cater to sectors like manufacturing, healthcare, finance, and e-commerce, providing data-driven insights into Retail sales, Economic development, and Financial performance visibility. However, data privacy concerns and security risks, including ransomware incidents, phishing attempts, malware attacks, and data breaches, necessitate robust data gathering, analytical processes, and workflow automation. Business information tools are a vital part of data-driven decision-making for private and government enterprises, offering valuable information from industry databases, ERP systems, CRM systems, and news sources. The volume of data and the need for advanced technologies call for operational and financial risks management, as well as funding for business operations and growth. Subscription-based paid content, medical content, technical content, and scientific content are essential information industry offerings.
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Email: media@technavio.com
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