Dallas, Texas (PRWEB) March 08, 2013
Business information providers have climbed out of the global recession and are headed for a steady period of growth as the demand for online services rises across the financial, health care, scientific and technical verticals, according to the latest report, a leading media industry forecast and analysis firm.
Business Information Markets 2012-2013 provides market sizing, strategic and competitive analysis, forecasts and critical insight into the markets for financial, credit, current awareness news and research, marketing, legal, tax, public record, scientific, technical and health information.
Business information market sales grew an estimated 5.1% to $54.4 billion, up from 4.6% growth in 2011. This market consistently grew above 6% annually in the years prior to the global economic calamity in 2008. The total market is projected to grow at a compound annual rate of 4.8% from 2012 to 2016.
As the information revolution advances, competitors in these segments can no longer succeed solely on the promise to deliver massive amounts of data quickly. The key differentiator is the technology used to find meaning in information. Business leaders, who have more information flying at them than ever before, need to drill down to find the bits of knowledge that will make a difference to their company's bottom line. This transition creates opportunity for astute business information providers to develop smart solutions that integrate big data and help solve problems.
Nowhere is this trend more apparent than in the financial information segment, which arguably has the biggest glut of data and the most acute emphasis on speed of delivery. Many of the leading players have focused their strategies on providing integrated tools for specific types of end users in the banking and financial realm. It seems to have paid off, as the financial information segment posted the fastest estimated growth rate in 2012 at 6.7% and is projected to grow at 6.4% CAGR to 2016.
The market for electronic health care information, partially fed by government investment, is also following the trend towards smarter, integrated information systems. Health care information is projected to grow at 5.3% CAGR between 2012 and 2016. In health care, the use of tablets and smartphones continues to grow, as handhelds have become a necessity for clinicians who need immediate access to research and data.
The current awareness news & research information segment is suffering the most turbulence as a result of the transition taking place in the business information markets. Economic conditions caused companies and individuals to reevaluate their expenditures and many subscription products in this market fell into the category of "nice to have" as opposed to "need to have." The segment is growing overall, but is only projected to grow at 2.5% CAGR from 2012 to 2016. The view of end users' needs and preferences for delivery technology will crystallize over the next few years and providers will have to adapt accordingly.
The newly released report provides an overview and financial outlook for business information markets based on specific research and analysis of the leading competitors and market performance in seven industry verticals.
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