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Business Intelligence Market Trends, Industry Research With Tableau Software, Sisense, Microsoft, SAP, Qlik, Salesforce, IBM, Oracle, SAS, MicroStrategy, Hitachi Vantara, Information Builders, ThoughtSpot, Yellowfin BI, Panorama Software, TIBCO Software
Business Intelligence
This rise in market value can be attributed to growth in adoption of IoT based technologies that have been caused by the significant emergence of IoT in every aspect of industries and business operations. Business intelligence market is expected to rise from its initial estimated value of USD 20.37 billion in 2018 to a projected value of USD 42.62 billion by 2026, registering a CAGR of 9.67% in the forecast period of 2019-2026.
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Business intelligence can be defined as the category of technological solutions and services employed by an organization for the analysis of data created through business operations and analysis of information associated with the business structure. It involves the usage of intelligence technologies which handle significant amounts of data which is historic, current and predictive/projected viewpoint which is gathered after the analysis.
Major Market Competitors/Players
Few of the major competitors currently working in the business intelligence market are Microsoft; SAP SE; IBM Corporation; TABLEAU SOFTWARE; Oracle; SAS Institute Inc.; QlikTech International AB; MicroStrategy Incorporated; Information Builders; Pegasystems Inc.; Continuum Managed Services; Hitachi Vantara Corporation; TIBCO Software Inc.; Sisense Inc.; Verizon Wireless; RACKSPACE US, INC.; Cisco; AT&T Intellectual Property; Juniper Networks, Inc.; VMware, Inc; GoodData Corporation; TARGIT; ALTERYX, INC.; Birst, Inc.; Fair Isaac Corporation; Salesforce.com, inc.; ALTEN Group and Stratebi.
Market Drivers:
· Growth in usage of cloud and cloud computing is one of the major factors driving the market growth
· Increasing demand of analysis-based and data-evident business decisions; this factor is expected to drive the market growth
Market Restraints:
· Requirement of large capital funds for the installation and integration of this technology in business operations; this factor is expected to restrain the market growth
· Variations in structure of industries and regions causing complications in regulations and compliances; this factor is expected to restrain the market growth
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Key Developments in the Market:
· In February 2019, Pegasystems Inc. announced that they had purchased the assets of Infruid Labs, which will help in enhancement of Pegasystems Inc.’s product portfolio and enhance the customer experience for the existing products and services provided by the organization through better visualization and interpretation experiences.
· In January 2019, Continuum Managed Services announced that they had acquired Brightgauge. This acquisition is a strategic decision taken by Continuum Managed Services which will significantly improve the customers serviced by them and will help enhance their presence globally.
Global business intelligence market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of business intelligence market for global, Europe, North America, Asia-Pacific and South America.
Segmentation: Global Business Intelligence Market
· By Component
o Platform
o Software
o Services
· Professional Services
· System Deployment & Integration
· Support & Maintenance
· Consulting Services
· Managed Services
· By Data Type
o Structured Data
o Unstructured Data
o Semi-Structured Data
· By Technology
o Mobile
o Cloud
o Social
o Others
· By Deployment Model
o On-Demand
o On-Premises
· By Organization Size
o Small & Medium-Sized Enterprises
o Large Enterprises
· By Application
· Predictive Asset Maintenance
· Fraud Detection & Security Management
· Supply Chain Optimization
· Network Management & Optimization
· Workforce Management
· Sales & Marketing Management
· Operations Management
· Others
· By Industry Vertical
· BFSI
· Telecommunications & IT
· Retail & Consumer Goods
· Healthcare & Life Sciences
· Manufacturing
· Government & Defense
· Energy & Utilities
· Transportation & Logistics
· Media & Entertainment
· Others
· By Geography
o North America
· US
· Canada
· Mexico
o South America
· Brazil
· Argentina
· Rest of South America
o Europe
· Germany
· France
· United Kingdom
· Italy
· Spain
· Russia
· Turkey
· Belgium
· Netherlands
· Rest of Europe
o Asia-Pacific
· Japan
· China
· South Korea
· India
· Australia
· Singapore
· Malaysia
· Indonesia
· Thailand
· Philippines
· Rest of Asia-Pacific
o Middle East and Africa
· South Africa
· Egypt
· Saudi Arabia
· United Arab Emirates
· Israel
· Rest of Middle East and Africa
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