Global Bi and Analytics market report, size, share, trends and forecast to 2028

According to Stratistics MRC, the Global Bi and Analytics Market is accounted for $27.26 billion in 2022 and is expected to reach $50.43 billion by 2028 growing at a CAGR of 10.80% during the forecast period.

BI and Analytics software provides insights and analytic information to help managers, executives, and other corporate end users read and analyse stored data, design reports, and make decisions. The growing demand for real-time data analysis, the increasing adoption of cloud technology, and the increasing installation of IoT devices are some of the major drivers driving the global business intelligence and analytics software market growth. Furthermore, rising demand for data analysis to understand consumer demand and market trends, as well as increased adoption of business intelligence and analytic tools by small and medium-sized enterprises (SMEs), are driving growth in the global business intelligence and analytics market.

Rapid technical breakthroughs have led to the growth of big data analytics and cloud computing in recent years. Given that it acts as a storage facility for both structured and unstructured data, cloud computing is regarded as the ideal platform for BI applications. Similar to this, big data technology has made it possible for these tools to evaluate a significant quantity of data and provide organisations with actionable insights that aid them in understanding opportunities and enhancing marketing strategies. Therefore, the market size is projected to increase due to the widespread usage of social media and other internet services including over-the-top services and e-commerce that produce a high number of heterogeneous data.

By geography, North America is projected to hold the largest market share during the forecast period owing to the market in terms of revenue & share. The region's growth is anticipated to be fueled by the quick development and adoption of new technologies and key businesses like Microsoft Corporation, IBM Corporation, Oracle Corporation, Tableau Software, LLC, and others.

Some of the key players profiled in the Bi And Analytics Market include Amazon Web Services, Inc., Tibco Software, Inc., Teradata, ThoughtSpot, Inc., Domo, Inc., SAS Institute Inc., Pyramid Analytics, Cisco Systems Inc., Microsoft Corporation, IBM Corporation, Oracle Corporation, SAP SE, Vuram, Fractal Analytics and Atos.

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By Components:
• Solution
• Services

By Deployments:
• Cloud Based
• On-premise

By Applications:
• Supply chain analytic applications
• Financial performance and strategy management
• Production planning analytic operations
• Other Applications

By Enterprises :
• Small and Medium Enterprises (SMEs)
• Large Enterprise

By End Users:
• Government
• Banking, financial services and insurance (BFSI)
• Retail
• IT & Telecom
• Media & Entertainment
• Education
• Manufacturing
• Energy & Power
• Other End Users

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● Competitive Benchmarking
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