The Global BI and Analytics Platform market to grow at a CAGR of 8% to 2018.

The adoption of SaaS-based BI and analytics platform applications is expected to grow rapidly in the near future. The traditional on-premise deployment of BI tools is slowly being taken over by single and multi-tenant hosted SaaS. These solutions are increasingly becoming popular options for deploying enterprise software. In addition to the increased adoption of SaaS-based solutions by SMEs, they are gradually being used by large enterprises. The software available over the internet in a subscription model provides increased flexibility to organizations using SaaS-based software. Furthermore, many vendors in the market have begun to offer their BI and analytics platform tools through the SaaS model to expand their services and enter new markets. In addition, the difficult economic times have required organizations to adopt SaaS as a cost-cutting alternative.