The Global Business Intelligence market accounted for USD 22.16 Billion in 2020 and is expected to reach USD 42.95 Billion by 2028, growing at a CAGR of around 8.6% between 2020 and 2028.
Market Overview
The Global Business Intelligence market accounted for USD 22.16 Billion in 2020 and is expected to reach USD 42.95 Billion by 2028, growing at a CAGR of around 8.6% between 2020 and 2028.
Business Intelligence is a technology based process which analyses and transforms raw data into useful and actionable information for business analysis purposes. BI technologies handle the large amounts of organized and sometimes organized data to help identify, develop and create new strategic business opportunities. BI technologies helps to provide historic, current and predictive views of business operations which helps executives, managers to take practical decisions. The main aim of implementing BI initiatives is to make improved business decisions which in turn will result in revenue growth and also improve efficiency in business operations. BI allows easy interpretation of these large volumes of data which benefits in implementing an effective strategy based on insights and can provide businesses with a competitive market advantage and long-term stability. BI comprises of a combination of analytics, data management and reporting tools, various methodologies for managing and analysing data.
COVID-19 Impact Analysis
The global Business Intelligence market has witnessed a slight decline in the growth for short term due to the lockdown enforcement placed by governments in order to contain COVID spreading. The restrictions imposed by various nations to contain COVID had stopped the production resulting in a disruption across the whole supply chain. However, the global markets are slowly opening to their full potential and theirs a surge in demand of Business Intelligence. The market would remain bullish in upcoming year.
The significant decrease in the global Business Intelligence market size in 2020 is estimated on the basis of the COVID-19 outbreak and its negative impact on the economies and industries across the globe. Various scenarios have been analyzed on the basis of inputs from various secondary sources and the current data available about the situation.
Growth Factors
Various sectors focusing on digital transformation, raising investments in analytics, increasing demand dashboards for data visualization, increase in acceptance of cloud, and rise in data generation will drive the growth of the business intelligence market. Business intelligence is now being used by many enterprises to support a wide range of business decisions ranging from operational to strategic which in turn making Business Intelligence market grow considerably. The benefits of implementing Business Intelligence are so many but the data security is one of the major concern for the Business Intelligence vendors. Though, the Business Intelligence is in its early stages of growth, it will not become outdated because of the growing demand of data visualization. The initial cost for having a business intelligence tool or platform and its implementation in the organizations is very high. This will impact on the growth of Business Intelligence market as the budget is the main concern for many companies to spend on the newer technologies.
Report Scope:
Report Attribute | Details |
---|---|
Base Year | 2020 |
Historic Years | 2016 - 2020 |
Forecast Years | 2021 - 2028 |
Segments Covered | By Product Type, By Application, and By End Use |
Forecast Units | Value (USD Billion), and Volume (Units) |
Quantitative Units | Revenue in USD million/billion and CAGR from 2021 to 2028 |
Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
Number of Companies Covered | 10 companies with scope for including additional 15 companies upon request |
Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
Customization Scope | Avail customized purchase options to meet your exact research needs. |
Technology Segment Analysis Preview
Business Intelligence market is segmented into two types: Technology and Deployment. Mobile BI is one of the important groups of Business Intelligence which held approximately 63.2% of the overall market in 2020. Mobile BI class is expected to be the largest segment in the market due to growing demand from pharmaceutical industry. Lower cost and easy availability of the products is expected to propel the growth of Mobile BI segment. Technology class of Business Intelligence market is further sub-segmented into Mobile BI, Cloud BI and Social BI.
Deployment Segment Analysis Preview
The market is segmented into two types: Cloud BI and On-Premises BI. On-premises applications may now take advantage of cloud-based storage, networking, and software, as well as analytical capabilities. Cloud deployment enable the organization to outsource the BI infrastructure to manage BI applications. This helps the organization to increase productivity, optimize implementation timelines, and reduce operational costs. Hence, cloud deployment is expected to show a remarkable growth rate.
Key Market Players & Competitive Landscape
Major market players of Business Intelligence market comprise Microsoft, IBM, Oracle, Microstrategy, GoodData, Targit, SAS, and Tableau Software among others play an important role.
The global Business Intelligence Market is segmented as follows:
By Technology
By Deployment
By Region
List of Figures
FIG NO. 1. Market Attractiveness Analysis, By Technology
FIG NO. 2. Market Attractiveness Analysis, By Deployment
FIG NO. 4. Market Attractiveness Analysis, By Region
FIG NO. 5. Global Business Intelligence Market Revenue, 2016 – 2028 (USD Million)
FIG NO. 6. Impact of COVID-19 Pandemic in North America Countries
FIG NO. 7. Market Revenue Share, By Technology, 2020 & 2028
FIG NO. 8. Global Business Intelligence Market for Mobile BI, Revenue (USD Million) 2016 – 2028
FIG NO. 9. Comparative Revenue Analysis of Business Intelligence Market for Mobile BI, By Country, 2020 & 2028
FIG NO. 10. Global Business Intelligence Market for Cloud BI, Revenue (USD Million) 2016 – 2028
FIG NO. 11. Comparative Revenue Analysis of Business Intelligence Market for Cloud BI, By Country, 2020 & 2028
FIG NO. 12. Global Business Intelligence Market for Social BI, Revenue (USD Million) 2016 – 2028
FIG NO. 13. Comparative Revenue Analysis of Business Intelligence Market for Social BI, By Country, 2020 & 2028
FIG NO. 16. Market Revenue Share, By Deployment, 2020 & 2028
FIG NO. 17. Global Business Intelligence Market for On-Premises BI, Revenue (USD Million) 2016 – 2028
FIG NO. 18. Comparative Revenue Analysis of Business Intelligence Market for On-Premises BI, By Country, 2020 & 2028
FIG NO. 19. Global Business Intelligence Market for Cloud BI, Revenue (USD Million) 2016 – 2028
FIG NO. 20. Comparative Revenue Analysis of Business Intelligence Market for Cloud BI, By Country, 2020 & 2028
FIG NO. 21. Global Business Intelligence Market Revenue Share, By Region, 2020 & 2028
FIG NO. 22. North America Business Intelligence Market Revenue, 2016 - 2028 (USD Million)
FIG NO. 23. Porter’s Five Forces Analysis for Global Business Intelligence Market
FIG NO. 24. PEST Analysis for Global Business Intelligence Market
FIG NO. 25. Pricing Analysis for Global Business Intelligence Market
FIG NO. 26. Value Chain Analysis for Global Business Intelligence Market
FIG NO. 27. Company Share Analysis, 2019
FIG NO. 28. Radar Determinant Chart, 2019
FIG NO. 29. Company Strategic Developments – Heat Map Analysis
FIG NO. 30. Microsoft Inc Business Segment Revenue Share, 2020 (%)
FIG NO. 40. Microsoft Inc Geographical Segment Revenue Share, 2020 (%)
FIG NO. 41. Market Channels
FIG NO. 42. Marketing Channel Development Trend
FIG NO. 43. Growth in World Gross Product, 2008-2018
FIG NO. 44. Research Methodology – Detailed View
FIG NO. 45. Research Methodology
List of Tables
TABLE NO. 1. Global Business Intelligence Market: Snapshot
TABLE NO. 2. Quarterly Business Intelligence Market Revenue by Region, 2020
TABLE NO. 3. Quarterly Business Intelligence Market Revenue Forecast by Region, 2021
TABLE NO. 4. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Million)
TABLE NO. 5. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Million)
TABLE NO. 6. Global Business Intelligence Market for Mobile BI, by Region, 2016 – 2028 (USD Million)
TABLE NO. 7. Global Business Intelligence Market for Cloud BI, by Region, 2016 – 2028 (USD Million)
TABLE NO. 8. Global Business Intelligence Market for On-Premises BI, by Region, 2016 – 2028 (USD Million)
TABLE NO. 9. Global Business Intelligence Market for Cloud BI, by Region, 2016 – 2028 (USD Million)
TABLE NO. 10. Global Business Intelligence Market Revenue, By Region, 2016 – 2028 (USD Million)
TABLE NO. 11. North America Business Intelligence Market Revenue, By Country, 2016 – 2028 (USD Million)
TABLE NO. 12. North America Business Intelligence Market Revenue, By Technology, 2016 – 2028 (USD Million)
TABLE NO. 13. North America Business Intelligence Market Revenue, By Deployment, 2016 – 2028 (USD Million)
TABLE NO. 14. U.S. Business Intelligence Market Revenue, By Technology, 2016 – 2028 (USD Million)
TABLE NO. 15. U.S. Business Intelligence Market Revenue, By Deployment, 2016 – 2028 (USD Million)
TABLE NO. 16. Canada Business Intelligence Market Revenue, By Technology, 2016 – 2028 (USD Million)
TABLE NO. 17. Canada Business Intelligence Market Revenue, By Deployment, 2016 – 2028 (USD Million)
TABLE NO. 18. Mexico Business Intelligence Market Revenue, By Technology, 2016 – 2028 (USD Million)
TABLE NO. 19. Mexico Business Intelligence Market Revenue, By Deployment, 2016 – 2028 (USD Million)
TABLE NO. 20. Drivers for the Business Intelligence Market: Impact Analysis
TABLE NO. 21. Restraints for the Business Intelligence Market: Impact Analysis
TABLE NO. 22. Major Buyers of Business Intelligence
TABLE NO. 23. Distributors/Traders List of Business Intelligence
TABLE NO. 24. Global Business Intelligence Market, Company Market Revenue, 2016 – 2019 (USD Million)
TABLE NO. 25. Global Business Intelligence Market, Company Y-o-Y Growth, 2017 – 2019 (USD Million)
Business intelligence is a technology motivated process for analyzing data and presenting actionable information to help business managers, corporate offices and other end users to make more informed business decisions. BI encompasses varieties of tools, applications, and methodologies that enable organizations to collect data from internal systems and external sources, prepare it for statistical analysis, develop and run queries against the data. IT further helps to create reports, dashboards, and data visualizations to make the results available to corporate decision makers as well as operational workers. BI is a mixture of tools and techniques used to transform raw data into meaningful information for the critical business decision-making process. It helps users to examine data, receive information from various channels or business activities, and use that information in organizational opportunities to improve business efficiency.
The BI solution, when integrated with analytics can handle a large amount of unstructured data to identify and analyze business patterns. This technology helps users to examine current and historical data.
BI solution helps to produce better business decisions with timely, accurate and more comprehensive analysis of corporate information assets. These advantages drive the growth of Business Intelligence market. Also, ability to identify growth opportunities, reduce costs and wastage by identifying areas of high expenditure, inefficiencies and analyzing transactional records are the major factors to accelerate the growth of the market. Other drivers of the market include benefits such as identifying risks and threats, increase profit share, improve and measure workplace productivity by employee operational and supply chain efficiencies. With the enormous rise in the data generated in organizations, business intelligence & analytics industry have is growing at rapid speed. Business intelligence and analytics solutions offer an attractive opportunity to organizations for exceptional growth. Organizations now look for these types of solutions in order to solve their business problems that also help them improve overall business performance and stay competitive in the market. Integrating the Business Intelligence tool with other operational and management system, establishing and maintaining the appropriate data quality to feed into the Business Intelligence system are some of the limitations affecting the growth of this market.
Technology advances over the past few years have allowed business leaders to knock into more detailed, and precise data about their customers and their markets than ever. Information about customers, pricing, products, competitors, market changes and employee performance are all examples of business intelligence. The growing adoption of data analytics by organizations worldwide is a major driver for the growth of this market. BI tools are also useful in the retrieval and analysis of the vast and growing volume of discrete data.
North America is expected to be the largest market for BI solutions due to major growth of data analytics in the market. Asia Pacific is expected to manifest high-growth over the foreseeable future due to rapid industrialization in the region and growing number of start-ups focusing on smartphone application development. Asia-Pacific is the fastest growing regional markets where the business intelligence market is estimated to grow by CAGR around 8.6 % in coming years.
Major industry vendors in this market space include Microsoft, IBM, Oracle, Microstrategy, GoodData, Targit, SAS, SAP, and Tableau Software.
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The global Business Intelligence Market was valued at USD 22.16 billion in 2020.
The global Business Intelligence Market is expected to reach USD 42.05 billion by 2028, growing at a CAGR of 8.6% between 2021 to 2028.
Various sectors focusing on digital transformation, raising investments in analytics, increasing demand dashboards for data visualization, increase in acceptance of cloud, and rise in data generation will drive the growth of the business intelligence market.
The North American region dominates the business intelligence market, owing to the presence of major industry players in the region. Additionally, factors, such as intense R & D activities in technology, increasing competition, and an evolving trend of data proliferation, are aiding the growth of the market in North America.
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