Global Digital Business Support System Market Will Grow at a CAGR of 15% During 2019-2023 | Technavio
LONDON--(BUSINESS WIRE)--May 27, 2019--
Technavio has announced the release of their research report on the Global Digital Business Support System Market for the forecast period 2019-2023. This digital business support system market analysis report segments the market by component (solutions, and services), and geographic region (North America, MEA, APAC, Europe, and South America).
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Technavio has published a new market research report on the global digital business support system market from 2019-2023. (Graphic: Business Wire)
Global digital business support system market size will grow by about USD 2.96 billion during 2019-2023, at a CAGR of close to 15%. With the growing adoption of advanced technology and analytical tools such as big data and loT, enterprises are witnessing the availability of abundant data. Thus, companies are increasingly focusing on analyzing and using this data promptly to get a competitive advantage over cost and time. This has increased awareness about the need for adopting digital business support systems for security and customer data management. Thus, the advent of big data and analytics services will fuel the growth of the digital business supports system market during the forecast period.
Need to improve business efficiency
With the increasing availability of resources and opportunities, businesses are growing, and new players are entering the market. As a result, the competition is becoming more intense, resulting in an increased demand for outcomes and profits in the business environment. Thus, business owners are focusing on establishing a better communication platform to get connected with end-users, which has led to the introduction of automation and flexible techniques for business processing and customer handling. Digital business support system generates a substantial amount of data, which can lead to enhanced business productivity by using several risk-averting models and predictive mechanisms. Hence, the digital support system has become a strategic priority for organizations in telecommunication, media and entertainment, and Internet services. Therefore, the need to improve business efficiency will drive the digital business support system market growth in the coming years.
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“ North America is an early adopter of advanced technologies such as digital business support systems. Countries such as the US and Canada are dominating the digital business support system market in North America owing to the increasing adoption of advanced network technologies in various sectors such as telecommunication and media and entertainment. Further, the significant presence of OTT providers in North America is augmenting the adoption of customer management, and bill management, which is creating demand for efficient digital business support systems,” says an analyst at Technavio.
This digital business support system industry research report provides an in-depth analysis of the major drivers, upcoming trends, and challenges that will impact market growth over the forecast period. The report analyzes the competitive landscape and offers details on several digital business support system companies including -
Some of the key topics covered in the report include:
Five Forces Analysis
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. Technavio’s report library consists of more than 10,000 reports covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies.
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INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT SOFTWARE SECURITY
SOURCE: Technavio Research
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