Press release
Business Intelligence (BI) Market Latest Trends, Designs, Demand and Business Outlook 2022 to 2027
The Business Intelligence (BI) Market report offers an in-depth assessment of market dynamics, the competitive landscape, segments, and regions in order to help readers to become familiar with the Business Intelligence (BI) market. It particularly sheds light on market fluctuations, pricing structure, uncertainties, potential risks, and growth prospects to help players to plan effective strategies for gaining successful in the Business Intelligence (BI) market. Importantly, it allows players to gain deep insights into the business development and market growth of leading companies operating in the Business Intelligence (BI) market.The Business Intelligence (BI) 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).
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Top Leading Companies of Business Intelligence (BI) Market are - Rackspace US Inc., SAP SE, Oracle Corporation, Microsoft Corporation, Cisco Systems Inc., SAS Institute Inc., GoodData Corporation, Targit AS, International Business Machines Corporation, VMware Inc., Tableau Software Inc. (Salesforce) and others.
Industry 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.
Key Market Trends:
BFSI Industry is Expected to Drive the Market Growth
- The banking industry is rapidly expanding, owing to the digitization and the pace at which various technological advancements were embraced in recent years. The advent of technologies and tools, like business intelligence and data analytics, has invariably helped banks reflect all required regulations and stay competitive while attending to today's modern customers' digital needs. These solutions aid financial institutions in making smarter decisions, both financially and operationally.
- For instance, according to a study by Goldman Sachs, 2018, AI technology may deliver up to USD 43 billion in savings, thus likely to generate revenue opportunities in the financial sector by 2025. Hence, many financial institutions are considering investing billions of dollars into this technology every year.
North America to Hold Maximum Market Share
- 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.
Investigator Observers Strong Growth in Specific Regions:
- Europe Market (Germany, UK, France, Russia, Italy)
- Center East and Africa Market (Saudi Arabia, UAE, Egypt, Nigeria, South Africa)
- South America Market (Brazil, Argentina, Colombia)
- North America Market (United States, Canada, Mexico)
- Asia Pacific Market (China, Japan, Korea, India, Southeast Asia).
The Latest Industry Data Included in this Report:
- Business Intelligence (BI) Market Size & Analysis (2016 - 2026)
- Market Share Analysis of Business Intelligence (BI) Market (%),2016 - 2026
- Business Intelligence (BI) Market Share, By Brand
- Business Intelligence (BI) Market Share, By Company
- Business Intelligence (BI) Market Assessment & Opportunity (Value),2016 - 2026
- Major Companies Business Intelligence (BI) Market Value Analysis & Forecast
- Promising Business Intelligence (BI) Development by Major Companies
- Detailed Business Intelligence (BI) Portfolio of the Major Companies
- Major Deals in the Business Intelligence (BI) Market
- Major Companies Analysis
Browse Full Report at:
https://www.marketinsightsreports.com/reports/02082592008/business-intelligence-bi-market-growth-trends-covid-19-impact-and-forecasts-2021-2026?Mode=namita
We Offer Customization on Report Based on Specific Client Requirement:
- Country Level analysis for any 5 countries of your choice.
- Competitive analysis of any 5 key market players.
- 40 analyst hours to cover any other data point.
Contact Us:
Irfan Tamboli (Head of Sales) - Market Insights Reports
Phone: + 1704 266 3234 | +91-750-707-8687
sales@marketinsightsreports.com | irfan@marketinsightsreports.com
About Us:
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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