Research and Markets (http://www.researchandmarkets.com/research/bxf5lh/global_business) has announced the addition of the "Global Business Intelligence Tools Market in the Financial Services Sector 2011-2015" report to their offering.

One of the key factors contributing to this market growth is the need to manage large volumes of enterprise data. The Global Business Intelligence Tools market in the Financial Services sector has also been witnessing the increasing adoption of SaaS-based business intelligence tools. However, the high cost of implementation could pose a challenge to the growth of this market.

The key vendors dominating this market space are IBM Corp., Oracle Corp. SAP AG, and SAS Institute Inc.

The other vendors mentioned in the report are Microsoft Corp., MicroStrategy Inc., Information Builders Inc., QlikTech Ltd., Tableau Software Inc., Tibco Software Inc. (Spotfire), and Infor Global Solutions Inc.

Commenting on the report, an analyst from TechNavio's Enterprise Computing team said: ''The adoption of software as a service (SaaS)-based Business Intelligence (BI) applications in the Financial Services sector 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 becoming an increasingly popular option for deploying BI tools. 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 the organizations using SaaS-based software. Furthermore, many vendors in the market have begun to offer their BI tools through the SaaS model to expand their services and enter new markets.''

For more information visit http://www.researchandmarkets.com/research/bxf5lh/global_business