Global IT Services Market

The laptops market consists of sales of laptops by entities (organizations, sole traders and partnerships) that provide laptops that are portable and compact personal computers with the same capabilities as a desktop computer. Laptop computers, also known as notebooks, are small computers that users can use in a variety of environments. Only goods and services traded between entities or sold to end consumers are included. The main types of laptops are ultrabook, netbook, notebook and others. An ultrabook is a thin and light laptop computer that are designed to provide similar or superior computing functionality as that of a standard laptop. Laptops comes in more than 17", 15.0" to 16.9", 13" to 14.9" screen sizes. The laptops are mainly used for personal, business and gaming. The global laptops market size is expected to grow from $100.47 billion in 2021 to $110.51 billion in 2022 at a compound annual growth rate (CAGR) of 10.1%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working and the closure of commercial activities that resulted in operational challenges. The laptop market is expected to reach $152.72 billion in 2026 at a CAGR of 8.4%. Growing internet penetration is expected to fuel the growth of the laptops market in the forecast period. Globally, the number of internet users is increasing by more than 8% annually and the average global internet user spends over 6 1/2 hours per day online. More than three quarters of the world's larger economies of internet users go online via desktops and laptops. In 2020, globally, there are more than 4.66 billion people who are using the Internet (about 60% of the world's overall population). Over the twelve months up to July 2020, over 346 million new users arrived online, leading to average growth of around 950,000 new users per day. Therefore, the growing internet penetration is expected to drive the growth of the laptops market during the period. The increasing demand for smartphones and tablets is expected to hamper the growth of the laptops market in the forecast period. Smartphones and tablets can now be the main computing devices and the efficiency disparity between laptops and smartphones continue to grow as consumers update their smartphones more quickly than their laptop computers. Also, many smartphones are available today in the market which work more efficiently than a laptop. The number of smartphones is expected to rise by 9% each year and reach 7.2 billion by 2023. Therefore, the increasing demand for smartphones is expected to restrain the growth of the laptops market during the period. Major companies operating in the laptop industry are focusing on developing advanced technological solutions for laptop. For instance, in June 2020, Lenovo, a China based computer manufacturing company launched Flex 5G laptop with Windows 10 at CES 2020 which is acclaimed to be the world’s first 5G laptop running on Windows 10. The laptop which is also called as Lenovo Yoga 5G, is powered by 8cx 5 G Snapdragon chipset from Qualcomm and operates on Windows 10 Pro. It also consists 8GB of RAM and 256GB of on-board storage. In August 2020, Sharp Corporation, a Japan based company that designs and manufactures electronic products completed acquisition of Toshiba’s laptop business for undisclosed amount. Sharp had earlier acquired 80.1% stake from Toshiba and now it has acquired remaining 19.1% of shares from Toshiba. Toshiba is a Japanese multinational engineering and electronics conglomerate corporation. Major players in the laptops market are Dell, The Hewlett-Packard Company, AsusTek Computer Inc., Apple Inc., Acer Inc., Lenovo Group Ltd., Microsoft Corporation., Micro-Star International Co. Ltd., Samsung Electronics Co. Ltd., Huawei Investment & Holding Co. Ltd., Haier Group Corporation, Hisense Group, Toshiba Corporation, Fujitsu Limited The regions covered in the laptops market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the laptops market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The global laptops market is segmented - 1) By Type: Ultrabook, Netbook, Notebook, Others 2) By End-Use: Personal, Business, Gaming 3) By Laptop Screen Size: More than 17", 15.0" to 16.9", 13" to 14.9"

The computers market consists of sales of computers by entities (organizations, sole traders and partnerships) that provide computers, which are programmable electronic devices designed to accept data, perform prescribed mathematical and logical operations at high speed, and display the results of these operations. The main types of computers are PCs, laptops, tablets and other computers. A PC is a multi-purpose, cost-effective computer that is designed for an individual user. These are distributed through business-to-business (B2B) and business-to-consumer (B2C) channel and are implemented in various areas such as household and commercial applications. The global computers market size is expected to grow from $369.94 billion in 2021 to $410.40 billion in 2022 at a compound annual growth rate (CAGR) of 10.9%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The computer market is expected to reach $595.93 billion in 2026 at a CAGR of 9.8%. The computer market is expected to be aided by rapid growth in investments in smart city projects in many countries globally. Smart city technologies use information and communication technologies to efficiently manage and operate urban services including transportation systems, water supply and law and order. These technologies are enabled through IoT technology. IoT is a convergence of computing devices, mechanical and digital objects. This system facilitates the transfer of data over a network without human interaction and minimal human to computer interaction. Smart cities use computers and related hardware, thereby benefitting the companies operating in this market. APG Algemene Pensioen Groep N.V. announced investment of €250 million in “Smart City Infrastructure Fund”, for development of smart city projects across North America, Europe, Australia and other major urban areas in the world. The concept of smart cities is becoming more popular in developing nations too. For instance, more than 1,000 smart city pilot projects are either ready for or are under construction globally and around 500 of these projects are in China. Interest rates are expected to increase in developed nations, particularly the USA and Europe, between 2019 and 2022, making it harder and more expensive for companies manufacturing computers. The computer market is characterized as requiring fair amount of capital funds to operate, renovate, innovate and expand business. Therefore, changes in the economy such as changes in interest rates are expected to greatly affect the profit margins, cost structures and expansion strategies of the companies in the cloud services market. For instance, the USA Federal Reserve is expected to increase interest rates in 2021. This will in turn hinder the operation and expansion of businesses in the cloud services market. The Internet of Things (IoT) is emerging as the next big trend in the computers market with the ability to create an impact across the business spectrum. The Internet of Things merged the physical and online worlds to open up to a host of opportunities for companies, governments and consumers. The IoT is a complex ecosystem with multiple players such as device vendors, communication service providers, software vendors and IT service providers. For example, the August Smart Lock uses the Internet of Things platform to automatically lock and unlock the front door of a user’s residence, and can also remotely grant access to guests, friends or staff. In August 2020, Sharp Corporation, a Japan based company that designs and manufactures electronic products completed acquisition of Toshiba’s laptop business for undisclosed amount. Sharp had earlier acquired 80.1% stake from Toshiba and now it has acquired remaining 19.1% of shares from Toshiba. Toshiba is a Japanese multinational engineering and electronics conglomerate corporation. Major companies in the computers market include Apple, Samsung Electronics Co., Ltd., HP, Pegatron Corp, Quanta Computer, Lenovo Group Limited, Inventec Corp, Microsoft, Dell Technologies Inc. and Hon Hai Precision Industry. Asia Pacific was the largest region in the computers market in 2021. North America was the second largest region in the computers market. The regions covered in the computers market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the computers market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela and Vietnam. The global computers market is segmented - 1) By Type: PCs, Laptops, Tablets, Other Computers 2) By Application: Household, Commercial 3) By Distribution Channel: Business-To-Business (B2B), Business-To-Consumer (B2C)

The online microtransaction market consists of sales of in-game virtual goods and its related services. Microtransactions are in-game purchases of virtual items for small amounts of money. These often appear in free-to-play games that do not have any cost for downloading the game and only includes the online cost for virtual goods. Microtransactions are done to unlock specific features or enhance the special abilities, content or character in a game. The main types of online microtransaction are in-game currencies, random chance purchases, in-game items, expiration. In-game purchases are items or points purchased by a player for use within a virtual world to improve a character or enhance the playing experience. The various model involved are prepay model, postpay model, others and are used in mobile, console and PCs. The global online microtransaction market size is expected to grow from $59.49 billion in 2021 to $67.60 billion in 2022 at a compound annual growth rate (CAGR) of 13.6%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The online microtransaction market is expected to reach $106.02 billion in 2026 at a CAGR of 11.9%. The expansion of the gaming industry is to act as a major driver for the development of the online microtransaction market. Online microtransaction uses real money to gain access to currency in-game or virtual items, which improves the gaming experience of the player. According to Ernst & Young Global Limited’s report published in 2019, the global games market is expected to reach $ 196.0 billion by the end of 2022, growing at a CAGR of 10.0%. Moreover, according to ResearchGate’s conference paper published in December 2019 on the analysis of the microtransaction in the game market, the value of the video gaming industry has increased substantially over the last two decades. The video gaming industry generated revenues of $ 152.1 billion in 2019 and is anticipated to grow over the forthcoming years. Therefore, the growth of the gaming and video gaming industry is expected to propel the revenues for online microtransaction market in the near future. Stringent regulations imposed on the microtransactions are projected to limit the online microtransaction market growth during the period. According to NPR’s news published in November 2019, China introduced restrictions on video games and online microtransactions for minors. Chinese officials limited the online microtransactions value at $ 28 or $ 57 depending on the age of the minor. These restrictions imposed is likely to reduce the number of transactions done by a minor, thus, reducing the revenues for microtransactions market from the minor group. Therefore, stringent regulations imposed by the government on setting the limit of transactions is to have an adverse effect on the growth of online microtransactions market over the forecast period. The companies adopting new loot box policies in order to adhere to the guidelines of the U.S. game industry trade group, the Entertainment Software Association is a major trend in the online microtransaction market. In August 2019, the organization announced that multiple game developers and publishers will adopt disclosure of information policies for the loot boxes. Companies such as Microsoft, Nintendo, and Sony are planning to have new policies by the end of 2020. Consequently, the players aiming to adopt new disclosure policies of a loot box is the latest trend shaping the growth of the online microtransactions market. In April 2020, Riot Games, an American video game developer, publisher, and esports tournament organizer acquired Hypixel Studios Inc. for an undisclosed amount. This acquisition represents the expansion of a long-standing relationship, with Hypixel Studios gaining access to Riot Games’ experience in developing and publishing acclaimed, player-focused games. Hypixel Studios Inc., a Canada based Computer game developer. Major players in the online microtransaction market are SmileGate (CrossFire), Riot Games, Inc., Nexon Co., Ltd., Wargaming.net, NCSoft, Activision Blizzard Inc., Electronic Arts Inc., Valve Corporation, Tencent Holdings Ltd., NetEase Inc., Microsoft Corp., GungHo Online Entertainment Inc., CyberAgent Inc., The Walt Disney Co., Ubisoft Entertainment, Niantic Inc., and Take-Two Interactive. The regions covered in the online microtransaction market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the online microtransaction market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The global online microtransaction market is segmented - 1) By Type: In-Game Curriencies, Random Chance Puchases, In-Game Items, Expiration 2) By Device: Mobile, Console, PC 3) By Model: Prepay Model, Postpay Model, Others

The tablets market consists of sales of tablets by entities (organizations, sole traders and partnerships) that provide tablets that are portable computers that use touchscreens as their primary input. Most tablets are slightly smaller and weigh less than an average laptop. Generally, the size of a tablet screen is smaller than a laptop computer and larger than a smartphone. Only goods and services traded between entities or sold to end consumers are included. The main types of tablets are detachable, slate, hybrid and rugged. A detachable tablet are entirely free of its keyboard and are small and lightweight. Tablets mainly have iOS android and windows operating systems and comes in below 8", 8" and above 8" sizes. Tablets are used for personal and business applications. The global tablets market size is expected to grow from $71.63 billion in 2021 to $83.94 billion in 2022 at a compound annual growth rate (CAGR) of 17.2%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working and the closure of commercial activities that resulted in operational challenges. The tablet market is expected to reach $146.94 billion in 2026 at a CAGR of 15%. The increasing demand for tablets in various sectors such as healthcare, education, entertainment and other industries is a key factor driving the growth of the tablets market. For instance, the hospitality industry has introduced in-room tablets to offer their services at the fingertips of their guests. Similarly, tablets help the transportation industry to standardize workflows, facilitate proper communications on time and provide critical information. The increasing use of tablets across industries is driving sales. In 2020, the sales of the Apple iPad increased by 20%, delivering more than 14 million units and Samsung stood in second place, delivering 7 million units and growing by 39%. The increasing demand for tablets in different sectors is expected to fuel the market for tablets. Major companies operating in the tablets market are focusing on developing innovative technology solutions for tablets. For instance, in June 2020, Apple a USA based technology company launched Apple iPad Pro 11 2020. iPad Pro is fitted with an Apple A12Z Bionic octa-core processor, based on iPadOS and powered by a non-removable Li-Po battery (28.65 Wh). The tablet's sensors include a proximity sensor, barometer, accelerometer, gyroscope and sensor for ambient light, liquid retina display. Therefore, making the tablets technologically advanced helps companies to sustain the competitive market. Major players in the tablets market are Apple Inc., AsusTek Computer Inc., Samsung Electronics Co. Ltd., Lenovo Group Ltd., Acer Inc., Microsoft Corporation, HP, Huawei, LG Electronics Inc., Archos, Chuwi Innovation Limited, Dell, HTC Corporation, Lava International Limited, Nokia Corporation, Panasonic Corporation, Sony Corporation and Toshiba Corporation. The regions covered in the tablets market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the tablets market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The global tablets market is segmented - 1) By Product Type: Detachable, Slate, Hybrid, Rugged 2) By Application: Personal, Business 3) By Operating System: iOS, Android, Windows 4) By Screen Size: Below 8", 8", Above 8"

The cybersecurity services market consists of sales of cybersecurity services that are used in IT and telecommunications and other industries. Cybersecurity refers to the collection of technologies, processes and practices designed to secure networks, computers, software and data against online attacks, destruction or data theft. Cybersecurity can also be identified as the security of information technology. The main security types of cybersecurity services are network security, endpoint security, application security, cloud security and others. Endpoint security is the process of preventing malicious actors and campaigns from exploiting endpoints or entry points of end-user devices such as desktops, laptops, and mobile devices. The services are used by large enterprises, small and medium enterprises of various industry verticals such as aerospace and defense, BFSI, public sector, retail, healthcare, IT and telecom, energy and utilities, manufacturing and others. The global cybersecurity services market size is expected grow from $72.92 billion in 2021 to $82.42 billion in 2022 at a compound annual growth rate (CAGR) of 13%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The cybersecurity service market is expected to reach $134.88 billion in 2026 at a CAGR of 13.1%. The increasing instances of massive cyber-attacks are a key factor driving the growth of the cybersecurity services market. The primary motive behind cybercrimes is political competition, financial gain, negative credibility, foreign competition and radical involvement of religious groups. Most cyber-attacks are for financial gain. WannaCry, Petya, NotPetya and BadRabbit are some of the main ransomware products that have targeted large-scale businesses and government organizations. According to cyber security experts, ransomware threats rose by 40% to 199.7 million attacks worldwide in Q3 of 2020. In Q3 2020, Ryuk ransomware threats rose to 67.3 million, which is 33.7% of all ransomware incidents this year. The ransomware implications included inaccessibility to various municipal facilities, information leakage and economic loss. Therefore, the increasing instances of massive cyber-attacks compel companies to integrate cybersecurity in their systems and functionality to prevent crashing thereby driving the growth of the cybersecurity services market. Use of Pirated and open source cybersecurity solutions, Dearth of cybersecurity expertise for proactive strategic planning, Limited security budget among SMEs, Lack of interoperability with the existing information systems, High cost of innovations and budget constraints for SMEs, and Lack of training and inadequate workforce are the major factors hampering the growth of the cybersecurity services market. Leveraging AI, machine learning and blockchain technologies for cyber defense is a key trend in the cybersecurity services market. Cybersecurity vendors integrate artificial intelligence (AI) and machine learning principles into their solutions to tackle crucial hyper-connected workplace risks, with quicker identification, prevention and responsiveness capabilities, the advances in technology, such as AI and machine learning, turn the tables against cybercrime. Vade Secure is one of the worlds 's largest e-mail security firms, leveraging artificial intelligence and machine learning to defend more than 600 million mailboxes in 76 countries from a range of attacks comprising spear phishing, ransomware and malware. In June 2020, the firm received an investment of more than $75 million from General Catalyst and plans to extend the use of AI to secure inboxes all over the globe. Cybersecurity specialists are therefore leveraging AI and machine learning technology to resolve the emerging cyber threats facing individuals, companies and governments. Major players in the cybersecurity services market are Cisco Systems, IBM Corporation, Microsoft, Check Point Software Technologies, Oracle, Trend Micro., Cyber Ark Software Ltd., FireEye Inc., Imperva Inc., ProofPoint, Inc., Micro Focus, RSA Security, Sophos, Splunk, Accenture, Capgemini, Cognizant, HCL Technologies Limited, Tata Consultancy Services, Wipro Limited, Qualys, Dell Technologies Inc., AVG Technologies NV and Intel Security (Intel Corporation). North America was the largest region in the cybersecurity services market in 2021. Asia Pacific was the second largest region in the cybersecurity service market. The regions covered in the cybersecurity market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the cybersecurity services market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The global cybersecurity services market is segmented - 1) By Security Type: Network Security, Endpoint Security, Application Security, Cloud Security, Others 2) By User Type: Large Enterprises, Small and Medium Enterprises 3) By Industry Vertical: Aerospace and Defense, BFSI, Public Sector, Retail, Healthcare, IT and Telecom, Energy and Utilities, Manufacturing, Others

The database software market consists of sales of database software which are used to develop, modify and maintain database records and files. This software enables users to store data in the form of tables, fields and columns and recover them directly and/or through programmatic access. Database software is used for several reasons ranging from compiling client lists, maintaining bookkeeping tasks to running online web site. The main types of database software are database operation management and database maintenance management. Database operation management refers to the development, maintenance, and support of structured data in order to maximize the value of data across the organization. The software is deployed through cloud and on-premise by various end user industries such as BFSI (banking and financial services), IT and telecommunication, media and entertainment, healthcare, aerospace and defense, among others. The global database software market size is expected to grow from $117.87 billion in 2021 to $139.51billion in 2022 at a compound annual growth rate (CAGR) of 18.4%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The database software market is expected to reach $253.17 billion in 2026 at a CAGR of 16.1%. Increase in the amount of data generated by industries in their regular operations and integration of technologies including Internet of Things (IoT) in the process are expected to benefit the forecast period as it rises the need of using database software to handle vast amount of data with confidentiality, integrity, and availability. In addition, the introduction of customer-interface applications and the implementation of cloud computing technologies in industries including small scale enterprises have also increased the demand for database software. For example, companies including Coca-Cola has invested in FileMaker, a custom database software to deal with its large amount of data in a more efficient way. The use of FileMaker enables managers to analyze reports to get a glimpse of what is happening company-wide in-real time. The increasing number of laws are expected to limit the growth of companies in the database software market during the forecast period. The laws include the intellectual property (IPR) act regime which restricts the expansion of software companies from developing countries expanding overseas and the law for software development in a number of countries do not permit the commercial distribution of any open-source software (OSS). The industry is also required to adhere to the new changes being made in EU's GDPR (European Union's General Data Protection Regulation) law. For instance, around 60% of tech companies are not ready to comply with the EU GDPR according to a recent study as it restricts innovation in their products. One of the major trends gaining traction in the database software industry is the use of hybrid transactional and analytical processing systems (HTAP) to reduce the data processing time. HTAP is an in-memory database which allows user to store data without compromising transactions or analytical workloads and to perform online transaction processing and online analytical processing without duplicating data. This helps to reduce data processing and data retrieval time and also helps in real-time decision making. HTAP performs online-analysis simultaneously with data processing. In May 2020, Microsoft announced Azure synapse link, a new business service that allows companies to analyze their data faster and more efficiently, using an approach that's usually called hybrid transaction/analytical processing. In January 2019, Microsoft acquired Citus Data for an undisclosed amount. The acquisition of Citus is expected to enhance and scale Microsoft’s capabilities in high-performance PostgreSQL databases. It also helps to improve performance scale for application developers as Citus is an open-source extension to PostgreSQL that modifies PostgreSQL into a distributed database. Citus Data is a developer and distributor of database products. It focuses on open-source PostgreSQL and on enhancing the performance of the enterprises by providing a horizontal scalable database. Citus Data was established in 2010 and is headquartered in San Francisco, California, USA. Major players in the database software market are Oracle, Microsoft, IBM, SAP, Amazon, Redis, Teradata, Couch base, SQLite, MongoDB, Tandem, Mark Logic, ArangoDB, MariaDB, TablePlus, EnterpriseOB, RavenDB, NCR, Pervasive Software, FileMaker Inc., Software AG, HP (Vertica System), Informatica Corporation, InterSystems, iWay Software (subsidiary of IBI), MetaMatrix (subsidiary of Red Hat), Actian Corporation. North America was the largest region in the database software market in 2021. Asia Pacific was the second largest region in the database software market. The regions covered in the database software market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the database software market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The global database software market is segmented - 1) By Type: Database Operation Management, Database Maintenance Management 2) By End-User: BFSI (Banking and Financial Services), IT and Telecommunication, Media and Entertainment, Healthcare, Aerospace and Defense, Others 3) By Deployment: Cloud, On-Premise

The business intelligence software (BI software) market consists of sales of business intelligence software. This software enables users to project information, visualize data, derive insights, improve business operations and make strategic business decisions. The components of business intelligence are source data, data warehouse, and online analytical processing (OLAP), visualizations, dashboards, and extract, transform, load (ETL) processes. The main types of business intelligence software (BI software) are unstructured data, semi structured data, structured data. Unstructured data is data that does not conform to a data model and has no easily identifiable structure, making it difficult to use by a computer program. The software is deployed through on-premise and on-cloud mode that are used for BFSI, telecom, IT, retail and consumer goods, healthcare and life sciences, and manufacturing applications. The global business intelligence software market size is expected to grow from $32.73 billion in 2021 to $39.74 billion in 2022 at a compound annual growth rate (CAGR) of 20.2%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The BI software market is expected to reach $75.46 billion in 2026 at a CAGR of 17.7%. An increase in data-driven projects will aid BI software market growth due to a substantial rise in the demand for real time analytics in the historic period. According to International Data Group (IDG) prediction, 69% of the businesses are planning or implementing data-driven projects in order to enhance production and sales, better decision making, strategic planning of business and others. Companies in the industry are using nosiness intelligence software in order to predict consumer behavior and engagement with their products and services. For instance, Starbucks started using the business intelligence software along with CRM software for predicting the purchasing behavior of the customers. Companies in the end user industries are increasingly adopting cloud based business intelligence tools in order to enhance security, access from anywhere online and benefit from the advantages of economies of scale. The cloud-based BI software is a virtual network, can be accessed via internet hosted on the vendor’s servers to aid efficient connectivity of devices. Cloud-based BI software benefit the companies with its cost effectiveness and low investment as no additional hardware costs are involved, short implementation time and others. According to International Data Corporation (IDC), 50% of the IT infrastructure spending on cloud based tools and for efficient data storage grew by 60-70% in 2020. European Union has implemented a regulation called GDPR to impact business Intelligence software market with principles on data protection, data minimization, data retention, and confidentiality. This regulation emphasizing on securing and safeguarding the consumer data, allows only minimum amount of personal data and restricts the access to extract complete data. The rules on the areas of storage limitation, data minimization might affect the BI software market in terms of analysis and accuracy. In October 2020, Tibco Software acquired Information Builders Inc., for an undisclosed amount. With this acquisition the Tibco’s aims is to augment its connected intelligence platform to address customers end-to-end data management and business analytics needs. Information Builders Inc., founded in 1975 is a leading player in business analytics headquartered in New York. Major players in the business intelligence software (BI software) market are Microsoft BI, IBM Congnos, SAP, SAS, Oracle BI, Micro Strategy, Qlik, Tableau, Sisense, Domo, Yellowfin BI, Pentaho, Jaspersoft, Style Intelligence, Board, Clear Analytics, Looker, Birst, TIBCO, BIRT, Good data, Thought spot, Target BI, Panorama Software and Actuate. The regions covered in the business intelligence (BI) software market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the business intelligence software market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The global BI software market is segmented - 1) By Deployment: On-Premise, On-Cloud  2) By Application: BFSI, Telecom, IT, Retail and Consumer Goods, Healthcare and Life Sciences, Manufacturing 3) By Type: Unstructured Data, Semi-Structured Data, Structured Data

Cybersecurity Services Market Definition