Press release
Business Intelligence Market Is Booming Worldwide |IBM, Microsoft, Oracle, SAP, SAS Institute, Actuate, Alteryx, Board International, Brist, Datawatch
This report discusses many vital industry facets that influence Global Business Intelligence industry acutely which includes extensive study of competitive edge, latest advancements, region-wise industry environment, contemporary market and manufacturing trends, leading market contenders, and current consumption tendency of the end user. The report also oversees market size, market share, growth rate, revenue, and CAGR reported previously along with its forecast estimation. The impact of the COVID-19, and also forecasts its recovery post-COVID-19. The report also presents forecasts for Sodium-ion Battery investments from 2021 till 2026.Request for Free Sample copy of the report:
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The report also presents the market competition landscape and a corresponding detailed analysis of the major vendors/manufacturers in the market. The key manufacturers covered in this report: IBM, Microsoft, Oracle, SAP, SAS Institute, Actuate, Alteryx, Board International, Brist, Datawatch, GoodData, Infor, Information Builders, Logi Analytics, MicroStrategy, Panorama Software, Pentaho, Prognoz, Pyramid Analytics, Qlik, Salient Management Company, Tableau, Targit, Tibco Software, Yellowfin
Business Intelligence Market was valued at USD 20.516 billion in 2020 and is expected to reach USD 40.50 billion by 2026 and grow at a CAGR of 12% over the forecast period (2021-2026).
News and Updates
July 2020 - Rackspace Technology announced a Strategic Collaboration Agreement (SCA) with Amazon Web Services (AWS), enabling customers to realize more excellent value from AWS cloud services. The companies have collaborated to expand offerings globally as part of the Rackspace Technology service block catalog. These modular offerings allow customers to tap into Rackspace Technology’s managed services expertise to meet their specific needs, including cloud strategy, migration, cost governance, complex cloud operations, and security support.
July 2020 - geniSIGHTS, a start-up based out of India, launched an Artificial Intelligence-powered Business Intelligence Suite, primarily to help Indian small and medium enterprises perform data analytics through voice commands. The company also stated that the tool is expected to prove vital in the current COVID-19 pandemic time, as the data analytics will enable the entrepreneurs to analyze their current business operations.
Market Overview
Business intelligence also uses advanced analytics, such as predictive analytics, statistical analysis, big data analytics, data mining, and text mining. The increased use of these tools, due to the enhanced capability of drawing valuable insights, is driving the need for business intelligence across different industries.
The business intelligence market is witnessing considerable growth, owing to its potential and the benefits it guarantees to the customers. Business intelligence tools' major benefits are optimizing internal business processes, accelerating and enhancing decision-making, driving revenue growth, obtaining a competitive advantage over competitors, and increasing operational efficiency. BI systems also help companies identify market trends and spot business problems that need to be addressed.
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 and exploratory perspective on the data, while BI systems provide a more structured user experience in terms of dashboard visualization, reporting, performance management metrics, etc. Also, there is a substantial increase in the need for data analytics and data visualization tools. For instance, according to the IBM Quant Crunch, up to 2.72 million jobs, which require data science skills, are likely to be posted by 2020, making it one of the highest-demanded roles across industries.
Segmentation by type: breakdown data from 2016 to 2021 in Section 2.3; and forecast to 2026 in section 10.7
Unstructured Data
Semi-structured Data
Structured Data
Segmentation by application: breakdown data from 2016 to 2021, in Section 2.4; and forecast to 2026 in section 10.8
BFSI
Telecommunications and IT
Retail and Consumer Goods
Healthcare and Life Sciences
Manufacturing
Transportation and Logistics
Others
Regional and Country-level Analysis
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.
According to Cisco Systems, around 50% of the ERP projects failed due to the lack of data integration. The limitations of ERP software have fueled the growth of BI tools across North America. This growth may continue to sustain, as BI penetrates new verticals across industries.
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Business Intelligence Analysis and Strategies Carry Out as below:
The report elucidates a gist of the tried-and-tested as well as innovative strategies undertaken by potential stakeholders with regards to the marketing of the product.
The sales channels chosen (that include direct as well as indirect marketing) by the companies are briefly enumerated in the Business Intelligence market report.
The distributors of these products and a gist of the top-of-the-notch customers for the same are also encompassed in the study.
The report is inclusive of the pivotal driving forces influencing the commercialization landscape of the Business Intelligence market and their impact on the revenue scale of this business sphere.
The rising product demand from the key geographies as well as the pivotal applications and potential business arenas are also included in the Business Intelligence Market report.
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Note: All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.
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Irfan Tamboli (Head of Sales) – Market Insights Reports
Phone: + 1704 266 3234
Mob: +91-750-707-8687
sales@marketinsightsreports.com | irfan@marketinsightsreports.com
MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information, and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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