Business Intelligence (BI) Market Report 2020 by Key Players, Types, Applications, Countries, Market Size, Forecast to 2026 (Based on 2020 COVID-19 Worldwide Spread)

The report presents an in-depth assessment of the Global Business Intelligence (BI) including enabling technologies, key trends, market drivers, challenges, standardization, regulatory landscape, deployment models, operator case studies, opportunities, future roadmap, value chain, ecosystem player profiles and strategies. The report also presents forecasts for Global Business Intelligence (BI) investments from 2019 till 2024.

The business intelligence (BI) market is expected to grow with a CAGR of 12% over the forecast period 2019 - 2024. The emergence of Big Data and the growing need to make critical business decisions within a compressed time-period, Business Intelligence (BI) and Analytics have gained market share in the last decade. Research suggests that this trend will increase steadily with time, the advancement of technology, and growing investments.

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- BI includes all the aspects of market intelligence and analytics, which helps transform unstructured data into meaningful information for efficient and precise decision making and strategy planning. Scope of BI is enormous and can have a positive impact on every hierarchy and unit of the organization. BI Technologies provide both qualitative and quantitative insight into the past, present, and the future operations of an organization.
- Business Intelligence can substantially improve financial performance, maximize utilization of resources, and reduce the risk of making inconsistent and incorrect decisions.
- Another driver for BI is the trend of integrating advanced analytics for big data with BI systems. Advanced analytics and BI are highly complementary as advanced analytics can provide a more in-depth, exploratory perspective on the data, while BI systems provide a more structured user experience in terms of dashboard visualization, reporting, performance management metrics, etc.

Scope Of The Report

Business Intelligence (BI) is a technology-driven process for analyzing and presenting actionable data to help corporate end users make informed business decisions. BI includes applications, infrastructure and tools, and best practices that enable access to and analysis of information to support informed business decisions. The scope includes mobile,cloud, traditional BI solutions in the study scope along with other relevant segmentaion.

Top Leading Manufactures-

Rackspace US, Inc., SAP SE, Microsoft Corporation, Cisco Systems, Inc., SAS Institute Inc., GoodData Corporation, TARGIT A/S (Gro Capital A/S), International Business Machines Corporation, VMware, Inc., Tableau Software, Inc.(salesforce.com, inc.)

Key Market Trends

Increasing Adoption of Data Analytics by Enterprises Globally

- Business Intelligence (BI) is being increasingly used to address the challenges of business decisions posed by vast amounts of data. Business Intelligence equips organizations with the advantages of faster decision making, real-time performance measurement, greater insights into customer behavior, better quality of information, better estimation of threats and opportunities, increased sharing of information and improved efficiency, enhanced communication, quick response to changes in financial conditions and supply chain operations, reduced equipment downtime, and others.
- Growing penetration of internet across the globe is one of the significant factors that contribute to the growth of the high volume of data that supplements the growth of structured data market. The emergence of the internet of things (IoT) and Big Data are significantly propelling the growth of the unstructured global data market for the forecast period.

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North America to Remain the Largest Market for BI

- The leading market for business intelligence in North America. Presence of major industry players in the region, intense R&D activities in the field of technology, increasing competition, and an evolving trend of data proliferation aids the growth of the market in North America.
- According to a survey by enterprise applications company, IFS in 2017, only 16% of 200 IoT decision making companies, in North America, were able to make integrate their IoT data with their respective ERPs. Data points like this have further fuelled the proliferation of advanced Business Intelligence tools, with companies increasingly looking at software that can meaningfully capture their ever-increasing data.

Competitive Landscape

- June 2019 - Salesforce.com Inc has decided to buy big data firm Tableau Software Inc for USD 15.3 billion, marking the largest acquisition in the company's history as it looks to offer more data insights to its clients.
- June 2019 - Google LLC announced the acquisition of Looker, a unified platform for business intelligence, data applications, and embedded analytics for USD 2.6 billion. Upon the close of the acquisition, Looker will join Google Cloud.
- September 2018 - TARGIT A/S announced the acquisition of Advanced Computing, Inc. (ACI) to expand TARGITs BI and analytics offerings for the heavy equipment industry. ACI has deep vertical experience of delivering advanced analytics to Caterpillar clients in North America for the past 15 years. The acquisition brings a team of BI experts into the fold of the TARGIT A/S.

What are the market factors that are explained in the report?

–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a Global and regional scale.

–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

–Analytical Tools: Global Business Intelligence (BI) Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market. 

Media Contact Us:

Irfan Tamboli (Head of Sales) – Market Insights Reports

Phone: + 1704 266 3234 | +91-750-707-8687

sales@marketinsightsreports.com | irfan@marketinsightsreports.com

Media Contact Us:

Irfan Tamboli (Head of Sales) – Market Insights Reports

Phone: + 1704 266 3234 | +91-750-707-8687

sales@marketinsightsreports.com | irfan@marketinsightsreports.com

This release was published on openPR.