Business Information Market by Tools (Decision Support System, Executive Support System, Knowledge Management System), Business Type (Corporation, Limited Liability Company, Partnership), Organization Size, End-User - Global Forecast 2024-2030

Business Information Market by Tools (Decision Support System, Executive Support System, Knowledge Management System), Business Type (Corporation, Limited Liability Company, Partnership), Organization Size, End-User - Global Forecast 2024-2030

The Business Information Market size was estimated at USD 77.80 billion in 2023 and expected to reach USD 82.59 billion in 2024, at a CAGR 6.30% to reach USD 119.34 billion by 2030.

Business information refers to data, insights, and relevant knowledge that directly relate to the activities of various businesses, encompassing sectors such as market trends, customer demographics, competitive intelligence, and overall industry performance. This information is critical for strategic decision-making, risk management, and identifying potential opportunities for growth and innovation. The major factors contributing to the expansion of its use globally include technological advancements in data analytics, increased accessibility to big data, the proliferation of social media and online platforms yielding vast amounts of consumer behavior insights, and the growing recognition of data-driven strategies in enhancing competitiveness and operational efficiency. However, issues related to data quality and integrity, the potential for information overload resulting in analysis paralysis, and concerns regarding privacy and data protection impact their adoption. Organizations are investing in advanced data management tools, fostering a culture of continuous learning to better discern valuable insights, and ensuring compliance with international data protection regulations to safeguard privacy to overcome these issues. With the advent of artificial intelligence and machine learning, predictive analytics is becoming more sophisticated, allowing for more accurate forecasting and decision-making. The integration of the Internet of Things (IoT) provides a new stream of real-time data, aiding in the development of more responsive and customer-centric business models. Further opportunities arise from the potential of blockchain technology to enhance transparency and security in information sharing.

Regional Insights

In the Americas, particularly in the United States and Canada, the focus on data-driven decision-making is highly emphasized, with companies leveraging advanced analytics and big data solutions to inform strategic initiatives and operational efficiencies. This region benefits from a well-established infrastructure for data management and a strong regulatory framework that ensures data privacy and security, facilitating reliable and sophisticated business information use. Meanwhile, in the APAC region, there is a dynamic and rapidly evolving business information landscape. As one of the most diverse regions in terms of economic development, technology adoption varies widely. Developed economies, such as Japan and Australia, have a mature approach to using business data, resembling that of their American counterparts while emerging economies are quickly adopting mobile and cloud-based technologies, leapfrogging traditional information management systems to gather and utilize business intelligence. Western European countries have stringent regulations, such as the General Data Protection Regulation (GDPR), which profoundly affects how business information is collected, stored, and utilized. Companies in these countries are, therefore, highly focused on compliance, and stringent data governance practices characterize business information usage. The Middle East and Africa present a more nascent stage of development with respect to business information systems. Though there is a significant push towards digitization fueled by mobile penetration and a young, tech-savvy population, the varied levels of economic and infrastructural development across these countries result in heterogeneous adoption of business information systems and practices.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Business Information Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

• Increasing emphasis on data-driven decision-making in business activities
• Government initiatives promoting digitalization across businesses
• Integration of business information activities with CRM and ERP

Market Restraints

• Limitations of inaccuracy and false data availability

Market Opportunities

• Technological advancements in business information with AI & ML
• Emerging startup ecosystem and investment in business information systems

Market Challenges

• Concerns associated with data privacy and security

Market Segmentation Analysis

• Tools: Provision of executive support system to offer summarized information for decision-making of businesses
• Business Type: Increasing adoption of business information services by corporations to manage multiple legal requirements in terms of business management
• Organization Size: Need for advanced business information systems to tackle operations and maintain finances of large-scale business enterprises
• End-User: Rising adoption of business information in the consumer goods sector for proper demand forecasting

Market Disruption Analysis

• Porter’s Five Forces Analysis
• Value Chain & Critical Path Analysis
• Pricing Analysis
• Technology Analysis
• Patent Analysis
• Trade Analysis
• Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Business Information Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Business Information Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Morningstar Direct Web Services Brings Sophisticated Investment Data, Research, and Calculation APIs to Power Firms' Digital Platforms

Morningstar, Inc., a provider of investment analysis, unveiled its Direct Web Services, a comprehensive set of APIs designed to effortlessly incorporate Morningstar's esteemed data, research, and analytical capabilities into clients' own digital platforms. Marketed as a first-rate solution for financial firms, this suite of APIs is meticulously crafted to deliver ready-to-use, display-oriented content that significantly streamlines the integration process for various online applications. Aimed at enhancing the digital engagement landscape, Direct Web Services empowers companies to refine investment research, portfolio management, and client engagement through cutting-edge tools, including a generative AI-driven user experience, risk preference assessment, and multifarious analytical features.

Moody’s Launches Moody’s Research Assistant, a GenAI Tool to Power Analytic Insights

Moody's Corporation unveiled Moody's Research Assistant, an innovative tool revolutionizing the financial market with its generative artificial intelligence (GenAI) capabilities. Developed with Moody's high-quality proprietary data and advanced Large Language Models (LLMs), this tool is poised to dramatically alter how market analysts approach data by delivering comprehensive risk insights with unprecedented speed.

S&P Global Market Intelligence Launches Entity Insights, a Single-Source Solution with Data for 27 Million Global Entities

S&P Global Market Intelligence unveiled its latest innovation, Entity Insights, designed to revolutionize the entity's due diligence process. This cutting-edge solution automates the traditionally laborious and manual task of collecting, analyzing, and monitoring information on entities, driving both efficiency and risk reduction. Entity Insights harnesses S&P Global Market Intelligence's vast repository of data on 27 million entities across diverse sectors, including energy, finance, and automotive. The platform generates comprehensive, real-time due diligence profiles for an array of third parties, which is essential for compliance with Know Your Customer (KYC) protocols and for managing Third Party Risk and Vendor Relations effectively.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Business Information Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Business Information Market, highlighting leading vendors and their innovative profiles. These include Bloomberg Finance L.P, Casa Systems, Inc., CGI Inc., CoreLogic, Inc., Deloitte Touche Tohmatsu LLP, Dow Jones & Co Inc., Dun & Bradstreet Corporation, EBSCO Industries, Inc., Equifax Inc., Ernst & Young Global Limited, Experian Information Solutions, Inc., Informa PLC, KPMG International Limited, lessburn Inc., London Stock Exchange Group PLC, McKinsey & Company, Moody's Corporation, Morningstar, Inc., Nielsen Holdings PLC, PricewaterhouseCoopers Private Limited, Publicis Groupe SA, RELX plc, S&P Global Inc., SAI Global, Thomson Reuters Holdings Inc., Verisk Analytics, Inc., Williams Lea Limited, and Wolters Kluwer N.V..

Market Segmentation & Coverage

This research report categorizes the Business Information Market to forecast the revenues and analyze trends in each of the following sub-markets:

• Tools
• Decision Support System
• Executive Support System
• Knowledge Management System
• Management Information System
• Office Automation System
• Transaction Processing System
• Business Type
• Corporation
• Limited Liability Company
• Partnership
• Sole Proprietorship
• Organization Size
• Large
• Mid-sized
• Small
• End-User
• BFSI
• Consumer Discretionary
• Energy
• Healthcare & life sciences
• Manufacturing
• Retail

Region

• Americas
• Argentina
• Brazil
• Canada
• Mexico
• United States
• California
• Florida
• Illinois
• New York
• Ohio
• Pennsylvania
• Texas
• Asia-Pacific
• Australia
• China
• India
• Indonesia
• Japan
• Malaysia
• Philippines
• Singapore
• South Korea
• Taiwan
• Thailand
• Vietnam
• Europe, Middle East & Africa
• Denmark
• Egypt
• Finland
• France
• Germany
• Israel
• Italy
• Netherlands
• Nigeria
• Norway
• Poland
• Qatar
• Russia
• Saudi Arabia
• South Africa
• Spain
• Sweden
• Switzerland
• Turkey
• United Arab Emirates
• United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year