Social Business Intelligence Market

Social Business Intelligence Market: BFSI Segment Expected to Emerge the Undisputed Leader by Vertical Throughout the Forecast Period: Global Industry Analysis and Opportunity Assessment 2016-2026

Social business intelligence refers to the management technique that merges groups to share data effectively in order to improve overall efficiency of operational processes. It offers better opportunities to employees for recognising customer demand through open management of product and resources. Social business intelligence also aids in improving various aspects of analysis, social media and analytics.

Revenue generated from the deployment of social business intelligence solutions worldwide is estimated to be nearly US$ 17 Bn in 2017, and is projected to reach a market valuation of nearly US$ 29 Bn by 2026, reflecting a CAGR of 6% over the forecast period (2016-2026).

Increasing adoption of cloud-based technologies and growing usage of social media are the major drivers boosting revenue growth of the global social business intelligence market

Growing usage of social media is driving the demand for big data globally

Presently, most of the private organisations are adopting big data solutions to capture and store large amounts of unstructured data. Big data supports in managing unstructured data fully or partially from enterprise IT systems, CRM conversations and social media. Big data offers hadoop solutions, which enable users to manage, store and analyse data across numerous resources efficiently. For instance, in September 2014, Oracle launched business intelligence cloud service which aids to improve speed and decision making across organisations by lowering barriers. Moreover, big data solutions also offer secure, comprehensive information access with simplicity and cost effectiveness.

Security vulnerabilities is a big challenge hampering revenue growth of the global social business intelligence market

In social business intelligence systems, one of the main challenges faced by organisations while adopting cloud services is data security. With an increase in the demand for cloud-based services, most of the organisations are shifting their workloads to the cloud from on-premise systems. Security breaches and privacy concerns pertaining to sensitive data are big challenges faced by vendors offering cloud-based solutions.

Positive outlook of BI towards Hadoop can be a good growth opportunity for players in the global social business intelligence market

Installation of new enterprise data operating systems over SQL servers would have a positive impact on the global social business intelligence market. Distributed analytic framework such as MapReduce will gradually turn Hadoop into a general-purpose data operating system. Hadoop offers adequate performance with optimal costs and also handles different kind of workloads such as steam processing and graph analytics. This, in turn, is likely to drive the demand for Hadoop implementation in social business intelligence and will boost the market in the long run. 

Global Social Business Intelligence Market Attractiveness, By Vertical, 2016–2026

In terms of value, BFSI segment is projected to be the most attractive segment in the global social business intelligence market during the forecast period. However, the travel and tourism segment is expected to register high Y-o-Y growth rates throughout the forecast period. In terms of value, the travel and tourism segment is expected to register a CAGR of 7.5% during the forecast period. In 2017, the IT and telecommunication segment is estimated to be valued at nearly US$ 3 Bn and is expected to witness steady growth in terms of revenue throughout the forecast period.

social business intelligence market

Wearable devices gaining popularity in the North America social business intelligence market

The growth of the IoT is adding to the vast pool of data – with everything from television, cars, smart watches and other devices producing data that may or may not hold valuable insights for the business. Providers of enterprise application software such as Qlik Technologies, along with established players such as Oracle Corporation, IBM Corporation and others are among the main beneficiaries. Health monitoring is gaining traction among the population in North America. Devices that can monitor various bodily data from heart health to sleep patterns and suggest lifestyle adjustments is gaining penetration among the population of North America. In October 2015 for instance, IBM Corporation redesigned its flagship BI solution with built-in accelerated modelling and reporting. Global BI solution vendors are investing in structured R&D initiatives to utilise wearable technology in business. The big game plan is to take big data to a whole new level.”

--- Analyst, ICT – Future Market Insights

Future Market Insights presents a comprehensive analysis of the global social business intelligence market in a new publication titled ‘Social Business Intelligence Market: Global Industry Analysis and Opportunity Assessment, 2016–2026’. In this report, Future Market Insights has focussed on offering detailed insights and in-depth research on the global social business intelligence market over a 10 year forecast period 2016 – 2026. In this report, we have covered the important factors driving the expansion of the global social business intelligence market, untapped opportunities for market players in this field, trends and developments shaping the dynamics of the global social business intelligence market and other insights across various key segments. In addition, we have identified the key drivers and restraints affecting the development of the global social business intelligence market. Changing trends are also analysed and incorporated in the report to equip the client with exhaustive information about the market resulting in better decision making. Macroeconomic factors that directly and indirectly affect the performance of the global social business intelligence market are also incorporated in the report.     

Report Description

This research report provides detailed analysis of the global social business intelligence market performance and offers insights on the various factors driving popularity of these solutions. The report includes an extensive analysis of key industry drivers, restraints, market trends and market structure. The market study provides comprehensive assessment of key stakeholder strategies and imperatives for succeeding in the business. The report segregates the market based on social business intelligence applications across different regions globally. 

The report starts with an overview of the global social business intelligence market in terms of value. In addition, this section includes an analysis of key trends, drivers and restraints from the supply, demand and economy side, which are influencing the global social business intelligence market. Impact analysis of key growth drivers and restraints, based on the weighted average model is included in this report to facilitate clients with crystal clear decision-making insights. 

Market Segmentation

By Deployment Type

By Size of Enterprise

By Vertical

By Region

  • On-premise

  • Cloud-based

 

  • Small Enterprise

  • Medium Enterprise

  • Large Enterprise

 

  • BFSI

  • Healthcare and Life Sciences

  • Consumer Goods and Retail

  • Travel and Tourism

  • IT and Telecommunication

  • Media and Entertainment

  • Government

  • Others

 

  • North America

  • Latin America

  • Western Europe

  • Asia Pacific Excluding Japan

  • Japan

  • Eastern Europe

  • Middle East & Africa

 

A detailed analysis has been provided for every segment in terms of market size analysis for social business intelligence across the different regions. The report provides a detailed analysis covering key trends, absolute dollar opportunity and BPS analysis.

The report further provides a detailed analysis of the global social business intelligence market across various countries in the assessed regions. It provides a market outlook for 2016–2026 and sets the forecast within the context of the global social business intelligence market, including latest technological developments as well as offerings in the market. This study discusses key trends within countries contributing to the growth of the market, as well as analyses the degree at which drivers are influencing this market in each region. Key regions and countries assessed in this report include North America (U.S., Canada), Latin America (Brazil, Mexico, Argentina and Rest of Latin America), Western Europe (Germany, France, U.K., Spain, Italy, and Rest of Western Europe), Eastern Europe (Russia, Poland, Rest of Eastern Europe) APEJ (China, India, ASEAN, Australia & New Zealand, and Rest of APEJ), Japan, MEA (North Africa, South Africa, GCC Countries, and Rest of MEA). 

In the final section of the report, we have included a competitive landscape to provide clients with a dashboard view, based on categories of providers in the value chain, presence in the global social business intelligence market portfolio and key differentiators. This section is primarily designed to provide clients with an objective and detailed comparative assessment of key providers specific to a market segment in the global social business intelligence value chain and the potential players for the same. Report audiences can gain segment-specific vendor insights to identify and evaluate key competitors based on an in-depth assessment of capabilities and success in the marketplace. Detailed profiles of providers are also included in the scope of the report to evaluate their long-term and short-term strategies, key offerings and recent developments in the global social business intelligence market. 

Research Methodology

To calculate global social business intelligence market size, we have considered revenue contribution of social business intelligence solution vendors, along with the social business intelligence penetration in various regions. Forecasting models are developed in order to quantify the impact of each of these factors on industry spending. A forecast scenario for each causative factor is then created and the contribution of each factor on a prospective basis is identified. The forecast presented here assesses the total revenue by value across the global social business intelligence market. In order to offer an accurate forecast, we have started by sizing the current market, which forms the basis of how the global social business intelligence market will develop in the future. Given the characteristics of the market, we have triangulated the outcome of different types of analyses based on the technology trends. In addition, we have not only conducted our forecasts in terms of CAGR, but have also analysed the global social business intelligence market on the basis of key parameters such as year-on-year (Y-o-Y) growth to understand the predictability of the market and to identify the right opportunities across the market. 

As previously highlighted, the global social business intelligence market is split into a number of segments. All segments in terms of deployment type, size of enterprise, vertical, and based on different regions are analysed in terms of basis point share to understand each individual segment’s relative contribution to market growth. This detailed level of information is important for identification of various key trends governing the global social business intelligence market. Also, another key feature of this report is the analysis of all key segments in terms of absolute dollar opportunity, critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales and delivery perspective in the global social business intelligence market.