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Business Intelligence Market: Size, Share, Growth, Analysis, Key Players, Revenue, Growth | Valuates Reports
Business Intelligence Market StatisticsThe global Business Intelligence market size is projected to reach USD 27870 Million by 2026, from USD 18720 Million in 2019, at a CAGR of 5.4% during the forecast period 2021-2026. Unstructured data is growing rapidly due to the increase in machine-generated data from IoT devices, smart cities, sensors, cameras, etc. Since the bulk of data generated today is unstructured data, organizations must find ways to manage and analyze it so that they can act on the data and make important business decisions. BI tools can help in analyzing unstructured data. Thus, organizations' increasing adoption of BI to analyze unstructured data is expected to drive the business intelligence market size.
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Rising demands for dashboards for data visualization to enhance the ability in taking business decisions is expected to drive the growth of the business intelligence market size. Dashboards and analytical tools reflect a significant degree of focus on measurements that are important for business decisions. It provides a visual representation of key performance indicators (KPIs) in the form of charts, graphs, and maps that allow businesses to make more informed decisions.
Furthermore, the increased adoption of data-driven business models by small, medium, and large enterprises, as well as the widespread use of e-commerce, is expected to fuel the business intelligence market size. The BI approach allows organizations to make strategic decisions in such a way that they result in a sustainable transition and high-quality customer support.
Another major factor that is propelling the growth of the business intelligence market size is increasing adoption of cloud-based Business Intelligence tools. The implementation of cloud-based BI solutions is extremely rapid and it requires smaller budgets as compared to the traditional implementations of on premise BI solutions.
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Business Intelligence Market Segments
Business Intelligence Market by Type
• Unstructured Data
• Semi-structured Data
• Structured Data
Business Intelligence Market by Application
• BFSI
• Telecommunications and IT
• Retail and consumer goods
• Healthcare and life sciences
• Manufacturing
• Transportation and logistics
• Others
Top Major Players in the Business Intelligence Market
• IBM
• Microsoft
• Oracle
• SAP
• SAS Institute
• Actuate
• Alteryx
• Board International
• Brist
• Datawatch
• GoodData
• Infor
• Information Builders
• Logi Analytics
• MicroStrategy
• Panorama Software
• Pentaho
• Prognoz
• Pyramid Analytics
• Qlik
• Salient Management Company
• Tableau
• Targit
• Tibco Software
• Yellowfin
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