Press release
The Market for Business Intelligence Platforms is Anticipated to grow at a CAGR of 9.9% by the end of 2029
Business Intelligence Platform Market
The following curve is projected to be followed in the near future by the global market for business intelligence platforms. In the next ten years, there will likely be a significant strategic consolidation in the semiconductor industry.
A lot of mergers are taking place to improve market alignment and strengthen portfolios. In the future, the semiconductor market may be summarised using this.
By 2031, business intelligence platform revenues will reach US$21 billion.
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Technological advancements in business intelligence platforms such as artificial intelligence, improve business intelligence effectiveness by maximizing the value of results and insights, so that the user will be benefitted from this data. Artificial intelligence continues to transform business that increasingly depend on the automated data analysis capabilities of powerful business intelligence platforms.
Business intelligence vendors are enhancing their products with artificial intelligence (AI) capabilities that will make the tools easier to use and offer automated insights.
Key Takeaways of Business Intelligence Platform Market Study
• The cloud segment is expected to gain significant share, owing to rising demand for cloud-based business solutions from small and medium businesses.
• Growth of business intelligence platform for applications such as reporting, analytics, online analytical processing, data mining, process mining, benchmarking, business performance management, predictive analytics, prescriptive analytics, and text mining is driving market growth.
• The predictive maintenance segment, by application, is expected to hold prominent share in the business intelligence platform market, owing to rapid adoption of industrial IoT & analytics.
• Rapid adoption of modern analytic tools by various organizations is expected to result in significant dominance of North America in the global business intelligence platform market.
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Advancements in Cloud-based Business Intelligence Platform to Boost Market Growth
Advancements in cloud- based business intelligence platforms are providing organizations access to business intelligence-related data such as key performance indicators (KPIs), dashboards, and other business analytics. Cloud-based business intelligence platforms make use of components and extend platform-as-a-service (PAAS), infrastructure-as-a-service (IaaS), virtualized, hardware environment and elastic software, utilizes on-demand, and delivers application-level functionality as a service.
For instance, in June 2018, SAP SE re-launched its Leonardo platform to include AI, machine learning, analytics, blockchain, and IoT, all at once. This new look of the Leonardo platform will allow customers to take advantage of advanced technologies such as AI, machine learning, advanced analytics, and block chain for their business data.
Key Players:
The report has profiled some of the Important players prevalent in the global like - Oracle, SAP Se, Microsoft, SAS, DOMO, Inc., IBM, Tableau Software (Salesforce.com, Inc.), Sisense, Tibco Software, Zoho Corporation Pvt. Ltd.. and more.
This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Business Intelligence Platform.
Region Coverage (Regional Production, Demand & Forecast by Countries.):
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain.)
Asia-Pacific (China, India, Japan, Southeast Asia.)
South America (Brazil, Argentina.)
Middle East & Africa (Saudi Araia, South Africa.)
Key Stakeholders
Business Intelligence Platform Market Manufacturers
Business Intelligence Platform Market Distributors/Traders/Wholesalers
Business Intelligence Platform Market Subcomponent Manufacturers
Industry Association
Downstream Vendors
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Expert analysis, actionable insights, and strategic recommendations - the Electronics, Semiconductor, and ICT team at Persistence Market Research helps clients from all over the globe with their unique business intelligence needs. With a repository of over 500 reports on electronics, semiconductors, and ICT, of which, 100+ reports are specific for ICT, the team provides end-to-end research and analysis on regional trends, drivers for market growth, and research development efforts in the electronics, semiconductor, and ICT industry.
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