Business Information Market Size, Share & Industry Analysis, By Business Type (Large Business and Small and Medium Business (SMB)), By End-user (Financial Institutions, Marketing and Advertising Agencies, Technology Providers, Academia and Research Institutions, and Government) and Regional Forecast, 2024–2032

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.

Impact of Generative AI

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,

• A recent BCG survey reveals that 70% of CMOs are leveraging generative AI, with the primary uses being personalization and generating insights. This indicates a growing trend of AI adoption in marketing for targeted customer engagement and data-driven decision-making.

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.

MARKET DYNAMICS

Market Trends

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.

• As per insights from Infosys, over 86% of clients reported that the personalization of the services influenced their purchases.

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.

Market Drivers

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.

• In June 2024, a featured partner for Microsoft Fabric and a Microsoft Azure Expert Managed Service Provider, Insight Enterprises, introduced a fast-start service that speeds up the adoption of data analytics among businesses via the use of Microsoft Fabric.

Market Restraints

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.

Market Opportunities

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,

• According to an AWS report, around 65% of SMBs that rely on data-driven insights have financially outperformed their competitors. This growth has also positively impacted several sectors of the businesses. For instance, over 69% of SMBs that relied on data-driven insights experienced a positive impact on their customer satisfaction rate. In addition, 65% reported that they experienced a positive effect on their efficiency and revenue.

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.

SEGMENTATION ANALYSIS

By Business Type

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.

By End-user

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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BUSINESS INFORMATION MARKET REGIONAL OUTLOOK

With respect to region, the market covers North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

North America

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,

• In July 2024, Thomson Reuters launched Checkpoint Edge with CoCounsel, featuring an AI-assisted research tool to help tax professionals get reliable answers to complex tax questions. The solution integrates CoCounsel, a professional-grade AI assistant, for enhanced research capabilities.

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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,

• According to the industry experts the U.S. dominates global generative AI funding, with over 80% in 2023, fueled by a strong tech ecosystem, plenty of capital, and major AI research institutions. This factor will accelerate innovation, expanding the market by enabling advanced AI-driven insights.

Asia Pacific

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,

• In July 2024, the Asian Development Bank (ADB) raised its economic growth forecast for developing Asia Pacific to 5.0% this year, driven by strong exports and domestic demand, while maintaining a 4.9% outlook for 2025. This growth is expected to drive demand for business intelligence tools as businesses seek data insights to navigate expanding markets and optimize performance.

Europe

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,

• In August 2024, PwC announced that it is offering a complimentary Power BI internship, open to all, designed to develop expertise in data visualization and business intelligence. This program provides participants with valuable skills to gain a competitive edge in the job market.

Middle East & Africa

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,

• In August 2023, Commercial Bank of Dubai (CBD) joined forces with PwC Middle East to accelerate AI integration, aiming to enhance customer experience through personalized AI-driven services. This collaboration will fuel the demand for AI-powered tools in banking, advancing the business information market by optimizing data analysis and decision-making processes.

South America

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.

COMPETITIVE LANDSCAPE

Key Industry Players

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.

List of Companies Studied:

• PwC (U.K.)


• Bloomberg Finance L.P. (U.S.)


• S&P Global (U.S.)


• Boston Consulting Group (U.S.)


• Gartner (U.S.)


• Dun & Bradstreet Holdings Inc. (U.S.)


• Statista (Germany)


• International Data Corporation (U.S.)


• Thomson Reuters (Canada)


• The Nielsen Company (U.S.)


• LexisNexis (U.S.)


• CB Information Services, Inc. (U.S.)


• Morningstar, Inc. (U.S.)


• Euromonitor International (U.K.)


• Kantar Group Ltd. (U.K.)


• Fitch Solutions, Inc. (U.S.)


• Moody’s Investors Service, Inc. (U.S.)


• FactSet (U.S.)

KEY INDUSTRY DEVELOPMENTS:

• October 2024: Celonis expanded its strategic partnership with PwC, building on their 2020 alliance and 2021 platinum partnership. This collaboration leverages PwC’s industry expertise and Celonis' innovation in driving business value through Process Intelligence.


• October 2024: Dun & Bradstreet launched ChatD&B, a Generative AI assistant that provides instant business insights on companies and contacts. Users can ask questions in natural language, with the tool delivering accurate, data-driven insights for tasks such as prospecting and due diligence.


• September 2024: Thomson Reuters launched Audit Intelligence, a suite of AI-powered, data-driven solutions aimed at transforming audit practices. The platform helps reduce errors, boost confidence, and improve efficiency for auditors.


• July 2024: Thomson Reuters launched Checkpoint Edge with CoCounsel, featuring an AI-assisted research tool to help tax professionals get reliable answers to complex tax questions. The solution integrates CoCounsel, a professional-grade AI assistant, for enhanced research capabilities.


• May 2024: Statista, a data analysis company, launched Research AI, a generative AI tool designed to help businesses make informed decisions using verified, selected, and proprietary Statista data.

REPORT COVERAGE

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