Business Intelligence (BI) Vendors Market Projected to Grow at a CAGR of 12.1% by 2027 | Industry Crucial Players- Rackspace US, Inc., SAP SE, Microsoft Corporation, Cisco Systems Inc., Tableau Software
The term "Business Intelligence" is defined as a superset of software as a service (SaaS) enterprise applications, which converts unstructured raw data and structured data into meaningful data insights. With the large amount of data generated worldwide at each and every moment, there is a rising need amongst enterprises to utilize these datasets so as to benefit themselves with these insights, as analyzing these data can help businesses make precise decisions, formulate strategies against plans, improve financial performance, maximize utilization of resources and consequently drive profitable business actions. The advent in technology observed over the years, along with numerous devices connected to the internet globally backed by the emerging technologies of IoT and IIoT, is helping to raise numerous amounts of data. The need amongst businesses to analyze these data sets for maximizing profits is anticipated to drive the growth of the global business intelligence (BI) vendors market.
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The business intelligence (BI) vendors market is anticipated to record a CAGR of 12.1% over the forecast period, i.e. 2019-2027. The business intelligence (BI) vendors market is segmented by deployment into cloud and on-premises. Among these segments, cloud segment is anticipated to hold the largest market share on account of short implementation time, low upfront investment, no or zero additional hardware costs, predictable maintenance costs, and others which helps businesses to minimize their operational cost and help to keep control ono their profits.
Geographically, the business intelligence (BI) vendors market is segmented by five major regions into North America, Europe, Asia-Pacific, Latin America and Middle East & Africa region, out of which, North America is expected to have the largest market share on account of growing research and developments in the field of technology, summed with the existence of several key industry competitors in the region. Moreover, increasing competition amongst industries and the need amongst business organizations in the region to analyze the datasets are some of the factors anticipated to boost the growth of the business intelligence (BI) vendors market in the region.
However, increasing concern for the rising cases of cybercrime and incidences, such as malware, data theft and ransomware among others, and the absence of stringent rules and regulations to deal with these issues, are some of the factors estimated to act as a barrier to the growth of the business intelligence (BI) vendors market during the forecast period.
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This report also studies existing competitive scenario of some of the key players of the business intelligence (BI) vendors market, which includes profiling of Rackspace US, Inc., SAP SE (ETR: SAP), Microsoft Corporation (NASDAQ: MSFT), Cisco Systems Inc. (NASDAQ: CSCO), IBM Corporation (NYSE: IBM), Tableau Software (BMV: DATA), ADVIZOR Solutions, Inc., Oracle (NYSE: ORCL), QlikTech International AB, MicroStrategy Incorporated (NASDAQ: MSTR).
The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled "Business Intelligence (BI) Vendors Market - Global Demand Analysis & Opportunity Outlook 2027" analyses the overall business intelligence (BI) vendors industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the business intelligence (BI) vendors market in the near future.
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