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The global business information market size was valued at USD 164.90 billion in 2023. The market is projected to grow from USD 173.42 billion in 2024 to USD 272.96 billion by 2032, exhibiting a CAGR of 5.8% during the forecast period.
Business information is the data and insights that organizations use to make informed decisions, manage operations, and develop strategies. It encompasses a variety of services, including market research, financial analysis, business intelligence tools, industry reports, and customer insights. Companies in the market provide crucial information that helps businesses make informed decisions, optimize operations, recognize trends, and better understand market dynamics. This information is offered through subscriptions, licenses, or data-as-a-service (DaaS) models. This vast amount of data can be customized to suit specific business needs. The growth of the market is attributed to businesses constantly seeking new actionable insights to maintain competitiveness. The top players in the market include PwC, Bloomberg Finance L.P., S&P Global, Boston Consulting Group, Gartner, Dun & Bradstreet Holdings Inc., Statista, International Data Corporation, Thomson Reuters, and The Nielsen Company.
The COVID-19 pandemic significantly impacted the market, causing shifts in demand and operational challenges. Organizations increasingly sought data-driven insights to navigate uncertainties, leading to heightened demand for market research, risk analysis, and digital transformation tools.
Generative AI is transforming the market by changing the way data is processed, analyzed, and applied. Traditionally, businesses relied on static reports and historical data for decision-making. Companies that apply generative AI can now generate real-time insights, predictive models, and automated reports at higher speeds and accuracy. This shift enables faster decision-making and reduces the dependence on manual processes. For instance,
AI models can analyze large datasets from various sources, offering businesses a more comprehensive view of market trends, consumer behavior, and operational performance. This accelerates the research process and provides businesses with more in-depth and precise insights into consumer preferences, emerging trends, and the competitive landscape. It automates tasks such as creating customer profiles, market segments, and personalized marketing strategies, enabling businesses to target their audiences better and optimize their campaigns. Therefore, the factors mentioned above represent that the impact of generative AI on the market is transformative, offering new opportunities for business information market growth.
Rising Demand for Personalized and Customer-centric Insights among End Users Ensures Market Growth
The market is witnessing increasing demand for personalized and customer-centric insights among end users across the globe. These insights help enterprises understand customer behavior more deeply and further enhance customer experience.
To address the growing demand, market players are developing business information services that cater to the demand for personalized and customer-centric insights among end users.
Furthermore, global businesses have accelerated their investments in cloud-based solutions. Cloud-based solutions offer greater flexibility, scalability, and cost-effectiveness. These features enable businesses to facilitate remote access and enhance collaboration and real-time data integration.
Rise in Adoption of Advanced Analytics across Large Enterprises Propels Market Growth
The rapid rise in the demand for advanced analytics across large enterprises is a key factor propelling market growth. Large enterprises operate in complex, often global markets that require detailed insights to manage several critical business operations. In addition, their large investments in new-age technologies encourage them to invest in business information services. This provides market players the opportunity to develop customer-centric business information solutions, expanding the business information market share. The example below showcases the continuous demand for market services and players’ involvement in the market.
Data Privacy and Security Concerns and Costs Associated with Advanced Business Information Solutions Hinder Market Growth
One of the significant challenges slowing the growth of solutions is data privacy and security concerns. Laws in relation to data privacy and regulatory scrutiny (GDPR and CCPA) make businesses cautious in collecting, storing, and using data. Besides, the risk of data breaches and compliance requirements make some businesses hesitant to invest in these solutions. Furthermore, the cost associated with advanced these solutions is another restraining factor in the market. This factor directly impacts the adoption of these solutions among the SMEs that have budget constraints.
Thus, the data privacy and security concerns and the cost associated with advanced business information solutions have a negative impact on market growth.
Increasing Demand for Data-driven Insights Creates Lucrative Opportunities for Market Players
The market is witnessing an increasing demand for data-driven insights from small and medium-sized enterprises across the globe. Data-driven insights help SMEs understand customer behavior analysis, market trends, and potential disruptions. These businesses use the insights for strategic planning, which optimizes their business operations. The companies that make use of such data-driven insights have showcased positive outcomes in their businesses. For instance,
Thus, these instances indicate that there is an increasing demand for data-driven insights among small and medium-sized enterprises, which further creates lucrative opportunities for market players to develop customer-focused solutions.
Need for strategic decision-making to boost the segment growth
Based on business type, the market is divided into large business and Small and Medium Business (SMB).
Large businesses dominate the market due to their substantial budgets, enabling them to invest heavily in advanced analytics, comprehensive market research, and customized information solutions. Their reliance on data for strategic decision-making and competitive advantage further reinforces their dominance.
Small and medium businesses (SMBs) are expected to grow at the highest CAGR as they increasingly adopt cost-effective, digital-first solutions to enhance operational efficiency and compete in dynamic markets. Rising awareness of the benefits of these tools and increasing cloud-based service adoption are key drivers of growth among SMBs.
High dependence on accurate insights to fuel the segment growth
Based on end-user, the market is categorized into financial institutions, marketing and advertising agencies, technology providers, academia and research institutions, and government.
Financial institutions hold the highest share of the market due to their reliance on accurate data for risk assessment, investment decisions, and regulatory compliance. Their need for real-time insights and comprehensive market analysis drives significant demand for these solutions.
Marketing and advertising agencies are expected to witness the highest CAGR as they increasingly leverage business information for targeted campaigns, consumer behavior analysis, and digital marketing strategies. The growing emphasis on data-driven decision-making and personalized marketing further fuels the segment growth.
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With respect to region, the market covers North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
North America dominates the market due to its advanced technological infrastructure and high demand for data-driven insights across a wide range of industries. The region is home to various global companies in sectors such as technology, finance, and healthcare, which rely highly on business information to drive innovation and make strategic decisions. These companies have the resources to invest in analytics tools, artificial intelligence-powered solutions, and business intelligence platforms, which boost the demand for advanced services. Additionally, a well-developed ecosystem of software providers, big data analytics firms, and consultancy services further support the growth of the regional market. For instance,
North America Business Information Market Size, 2023 (USD Billion)
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Businesses in the U.S. have been quick to integrate digital solutions to optimize operations, enhance customer experiences, and streamline decision-making. Therefore, companies are increasingly relying on real-time data, predictive analytics, and market intelligence to stay competitive. Advanced technologies such as generative AI and machine learning are widely adopted in the region, which in turn drives the growth of the market. For instance,
The Asia Pacific region is projected to show the highest CAGR in the market, driven by robust economic expansion and increasing business activity. Emerging economies such as China, India, and Southeast Asian countries are experiencing rapid growth, leading to a surge in business investments and operations. This economic boom creates a growing need for real-time, data-driven insights to support strategic decision-making, driving demand for high-quality information in the region. For instance,
Europe holds the second-largest share in the market due to its diverse and matured economy, relying heavily on data and analytics. Major sectors in the region, such as finance, manufacturing, healthcare, retail, and energy, are progressively turning to business intelligence to optimize operations, make informed decisions, and maintain a competitive advantage. This rising demand for advanced analytics and services is fueling market growth. For instance,
The Middle East & Africa are expected to grow at the second-highest CAGR in the market, driven by economic diversification, technological adoption, and evolving market dynamics. Many countries in the region, particularly in the GCC countries such as the UAE, Saudi Arabia, and Qatar, are increasingly shifting from oil-dependent economies and investing heavily in sectors including finance, technology, and infrastructure. This diversification is driving demand for reliable business intelligence to support decision-making in rapidly developing industries, thus driving the need for these solutions. For instance,
South America holds a smaller share of the global market compared to other regions due to slower economic growth and more volatile market conditions. Despite having large economies such as Brazil, Argentina, and Chile, they often face challenges such as political instability, inflation, and fluctuating currency values. These factors create an unpredictable business environment, which can make companies more cautious about investing in advanced tools that are commonly adopted in more stable and growing economies.
Key Players Launch New Products to Strengthen Market Positioning
Players launch new product portfolios to enhance their market positioning by leveraging technological advancements, addressing diverse consumer needs, and staying ahead of competitors. Companies in the market prioritize portfolio enhancement and strategic collaborations, acquisitions, and partnerships to strengthen their product offerings. Such strategic product launches help companies maintain and grow their market share in a rapidly evolving industry.
The report provides a detailed market analysis and focuses on key aspects such as leading companies, product/service types, and leading product applications. Besides, it offers insights into the market trends and highlights vital industry developments. In addition to the factors above, it encompasses several factors that contributed to the market's growth in recent years. The market segmentation is mentioned below:
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REPORT SCOPE & SEGMENTATION
ATTRIBUTE | DETAILS |
Study Period | 2019-2032 |
Base Year | 2023 |
Forecast Period | 2024-2032 |
Historical Period | 2019-2022 |
Growth Rate | CAGR of 5.8% from 2024 to 2032 |
Unit | Value (USD Billion) |
Segmentation | By Business Type
By End-user
Government By Region
Rest of Asia Pacific |
Companies Profiled in the Report
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The market is projected to record a valuation of USD 272.96 billion by 2032.
In 2023, the market size stood at USD 164.90 billion.
The market is projected to grow at a CAGR of 5.8% during the forecast period.
By end-user, the financial institutions segment is leading the market.
The rising demand for data-driven insights and growth in competitive intelligence services are driving the market growth.
PwC, Bloomberg Finance L.P., S&P Global, Boston Consulting Group, and Gartner, Inc. are the top players in the market.
North America holds the highest market share.
Asia Pacific is expected to grow with the highest CAGR during the forecast period.
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