Business Intelligence Market to Gain Immense Momentum; Microsoft Corporation, Tableau Software, LLC (Salesforce), IBM Corporation, SAS Institute Inc., SAP SE, Oracle Corporation, QlikTech International AB, Sisense Inc., Board International S.A, Logi Analy

The global business intelligence market size is expected to reach USD 39.35 billion by 2027, exhibiting a CAGR of 8.5% during the forecast period. The rapidly evolving digital competencies in new business models can have an excellent impact on the global market, states Fortune Business Insights, in a report, titled “Business Intelligence Market Size, Share & COVID-19 Impact Analysis, By Component (Solution, and Services), By Deployment (Cloud, and On-Premise) By Enterprise Size (Large Enterprises, Small and Medium-Sized Enterprises (SMEs)), By Application (Supply Chain Analytic Applications, CRM Analytic Applications, Financial Performance, and Strategy Management, Production Planning Analytic Operations, and Others), By End-User (IT and Telecommunications, Banking, Finance, Security and Insurance (BFSI), Healthcare, Manufacturing, Retail, and Others), and Regional Forecast, 2020-2027.” The market size stood at USD 20.60 billion in 2019.

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The report on the business intelligence market highlights:

All-inclusive analysis of the market
Dynamic insights into the segments
Extensive data about dominant regions
Key information about prominent players
Latest developments
Market drivers and restraints
COVID-19 impact on the market
Market Driver:

Advent of Cloud Computing and Big Data to Boost Market Growth

The increasing adoption of cloud computing and big data analytics owing to its superior technological capabilities will foster the healthy growth of the market. For instance, cloud computing is regarded as an ideal platform to provide business intelligence applications as it serves as a repository for structured and unstructured data. Likewise, big data technology enables BI to analyze a large amount of data to deliver actionable insights into businesses and generate opportunities. The increasing need for business intelligence solutions to analyze huge chunks of data for social media channels will enable speedy expansion of the market during the forecast period. Therefore, the burgeoning social media platforms coupled with e-commerce popularity will have an outstanding effect on the market in the forthcoming years.

Emergence of Advanced Visualization Dashboards to Incite Business Amid Coronavirus

The market players are focused on advanced visualization dashboards to help users to get real-time status of the Coronavirus. For instance, Dundas Data Visualization, Inc. developed real-time dashboards from Dundas BI. The COVID-19 dashboard helps the users to explore the real-time data by geography and stay updated. Similarly, Microsoft’s Power BI in working with USAFacts organization to empower the users to visualize and interact with COVID-19 dataset. Thus, data visualization dashboards are expected to uplift the market during the coronavirus pandemic.

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Regional Analysis:

Business Expansion Plans to Support Market in Asia Pacific

The market in Asia Pacific is expected to hold the largest share in the global market during the forecast period due to the lucrative business expansion projects in the countries such as India, China, Singapore, Japan, and others. The presence of major players will further aid the expansion of the market in the region. For instance, in February 2020 – Sisense expanded its presence across Australia to support the growing demand for business intelligence and analytics. The company also announced a funding of USD 100 million with approximately more than USD 1 billion valuations to power its growth. The Middle East and Africa is expected to expand radically during the forecast period owing to the rising unemployment & inflation. The surging financial sector is expected to augment the growth of the market in the Middle East and Africa.

Key Development:

October 2019: M3, Inc. announced the launch of a business intelligence platform namely ‘Insight’. The platform is an integrated tool featuring mobile compatibility, ad hoc reporting, robust analytics, and powerful user-driven dashboards.

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Major Table of Content for Business Intelligence Market:

Introduction
Definition, By Segment
Research Methodology/Approach
Data Sources
Key Takeaways
Market Dynamics
Macro and Micro Economic Indicators
Drivers, Restraints, Opportunities and Trends
Impact of COVID-19
Short-term Impact
Long-term Impact
Competition Landscape
Business Strategies Adopted by Key Players
Consolidated SWOT Analysis of Key Players
PESTLE Analysis
Porter’s Five Force Analysis
Ecosystem Analysis
Global Business Intelligence Market Share Analysis and Matrix, 2019
Key Market Insights and Strategic Recommendations
Profiles of Key Players (Would be provided for 10 players only)
Overview
Key Management
Headquarters etc
Offerings/Business Segments
Key Details (Key details are subjected to data availability in public domain and/or on paid databases)
Employee Size
Key Financials
Past and Current Revenue
Gross Margin
Geographical Share
Business Segment Share
Recent Developments
Primary Interview Responses
TOC Continued…!!!

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