Press release
Business Intelligence Market size was valued USD 26.68 Bn. in 2022 and expected to grow at 7.5%, reaching nearly USD 44.28 Bn. by 2029
Business Intelligence Market Report Scope and Research Methodology:The research report delves into the realm of Business Intelligence (BI) and analytics solutions, highlighting their significant market share growth over the last decade. Fueled by the rise of Big Data and the increasing need for swift, data-driven decisions, the BI market is expected to continue its upward trajectory. The report explores the technological advancements and increased investments that are contributing to this trend. It also discusses the expansion of data visualization technologies in various industries for enhanced analytics, including the creation of BI dashboards and performance scorecards.
The research methodology employed for this report ensures accuracy and reliability in its findings. The report's insights are derived from a meticulous analysis of market data, including trends and technologies shaping the BI market from 2023 to 2029.
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Business Intelligence Market Dynamics:
The report highlights the major drivers fueling the BI market growth. The adoption of BI for processing big data remains a prominent focus for both vendors and users. Additionally, the report emphasizes the impact of the Internet of Things (IoT) and big data on the cloud's role in accessing BI and analytics. The demand for mobile business intelligence capabilities is on the rise due to changing work dynamics. Predictive and prescriptive analytics tools have also enhanced business intelligence analysis, incorporating techniques such as graph analysis and complex event processing.
While the BI market is flourishing, there are notable challenges. The report identifies the high resistance and cost of implementation as significant factors hindering global BI market growth. The initial costs, including licensing and necessary hardware, present obstacles. Moreover, the difficulty in usability for non-technical users and the inability to empower the right individuals for their roles pose challenges.
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Business Intelligence Market Segmentation:
by Component Platform
Software
Services
by Data Type
Unstructured
Semi-structured
Structured
by Application
Predictive asset maintenance
Fraud detection and security management
Supply chain optimization
Network management and optimization
Workforce management
Sales and marketing management
Operations management
Others
by Organization Size
Small and medium-sized enterprises
Large enterprises
by Deployment Model
On-premises
On-demand
by Industry Vertical
Banking, Financial Services, and Insurance (BFSI)
Telecommunications and IT
Retail and consumer goods
Healthcare and life sciences
Manufacturing
Government and defense
Energy and utilities
Media and entertainment
Transportation and logistics
Others
By industrial vertical, the Banking, Financial Services, and Insurance (BFSI) category had a value of USD 24.82 billion in 2022 and is anticipated to grow at a CAGR to USD 44.28 billion by 2029. Financial firms can prevent disparities by utilizing BI to monitor customer-facing personnel, such as sales teams and tellers, and to develop solutions. Financial institutions can utilize BI to analyze vast amounts of consumer data to learn more about their customers' banking preferences and needs in order to increase their product and service offerings. The contribution of the major market segments to the expansion of the BI market size will be accurately predicted in the report.
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Business Intelligence Market Key Players:
1. SAS Institute
2. Microsoft Corporation
3. International Business Machines Corporation
4. SAP SE
5. Oracle Corporation
6. Tableau Software
7. Pentaho (A Hitachi Company)
8. Qlik Technologies
9. MicroStrategy, Inc.
10.Information Builders
11.Tibco Software
12.Google LLC
13.Yellowfin International Pty Ltd
14.Sisense Inc.
15.Panorama
16.Actuate
17.Alteryx
18.Board International
19.Datawatch
20.GoodData
21.Pyramid Analytics
22.Salient Management Company
Table of content for the Business Intelligence Market includes:
1. Global Business Intelligence Market: Research Methodology
2. Global Business Intelligence Market: Executive Summary
• Market Overview and Definitions
• Introduction to the Global Market
• Summary
• Key Findings
• Recommendations for Investors
• Recommendations for Market Leaders
• Recommendations for New Market Entry
3. Global Business Intelligence Market: Competitive Analysis
• MMR Competition Matrix
• Market Structure by region
• Competitive Benchmarking of Key Players
• Consolidation in the Market
• M&A by region
• Key Developments by Companies
• Market Drivers
• Market Restraints
• Market Opportunities
• Market Challenges
• Market Dynamics
• PORTERS Five Forces Analysis
• PESTLE
• Regulatory Landscape by region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
• COVID-19 Impact
4. Global Business Intelligence Market Segmentation
• Global Business Intelligence Market, by Component (2022-2029)
• Global Business Intelligence Market, by Data Type (2022-2029)
• Global Business Intelligence Market, by Application (2022-2029)
• Global Business Intelligence Market, by Organization Size (2022-2029)
• Global Business Intelligence Market, by Deployment Model (2022-2029)
• Global Business Intelligence Market, by Industry Vertical (2022-2029)
5. Regional Business Intelligence Market (2022-2029)
• Regional Business Intelligence Market, by Component (2022-2029)
• Regional Business Intelligence Market, by Data Type (2022-2029)
• Regional Business Intelligence Market, by Application (2022-2029)
• Regional Business Intelligence Market, by Organization Size (2022-2029)
• Regional Business Intelligence Market, by Deployment Model (2022-2029)
• Regional Business Intelligence Market, by Industry Vertical (2022-2029)
• Regional Business Intelligence Market, by Country (2022-2029)
6. Company Profile: Key players
• Company Overview
• Financial Overview
• Global Presence
• Capacity Portfolio
• Business Strategy
• Recent Developments
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Regional Insights:
The report provides a comprehensive regional analysis of the BI market, including insights into APAC, Europe, North America, South America, and the MEA. North America is projected to lead the market share by 2029, leveraging its technological prowess and commercial investments. The report details the specific dynamics driving regional growth.
Key Offerings:
• Past Market Size and Competitive Landscape (2018 to 2022)
• Past Pricing and price curve by region (2018 to 2022)
• Market Size, Share, Size & Forecast by different segment | 2023-2029
• Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
• Market Segmentation - A detailed analysis by Product
• Competitive Landscape - Profiles of selected key players by region from a strategic perspective
• Competitive landscape - Market Leaders, Market Followers, Regional player
• Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER's analysis
• Value chain and supply chain analysis
• Legal Aspects of business by region
• Lucrative business opportunities with SWOT analysis
• Recommendations
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