BI Software Market Size, Market Competitive Landscape, Business Growth, Share, And Forecast To 2033

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

BI Software Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $107.16 billion In 2028 At A CAGR Of 19.9% :

The bi software market size has grown strongly in recent years. It will grow from $47.27 billion in 2023 to $51.85 billion in 2024 at a compound annual growth rate (CAGR) of 9.7%. The growth in the historic period can be attributed to data explosion, data integration, competitive advantage, regulatory compliance.

The bi software market size is expected to see rapid growth in the next few years. It will grow to $107.16 billion in 2028 at a compound annual growth rate (CAGR) of 19.9%. The growth in the forecast period can be attributed to advanced analytics and ai, self-service bi, cloud-based bi, real-time analytics. Major trends in the forecast period include data visualization, mobile bi, embedded bi, big data integration.

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BI Software Market Major Segments
The bi software market covered in this report is segmented -

1) By Type: Unstructured Data, Semi Structured Data, Structured Data
2) By Deployment: On-Premise, On-Cloud 
3) By Application: BFSI, Telecomm, IT, Retail and Consumer Goods, Healthcare and Life sciences, Manufacturing

Key Driver - Rise In Data-Driven Projects Fuels Growth In Business Intelligence (BI) Software Market

An increase in data-driven projects aids business intelligence (BI) software market growth due to a substantial rise in the demand for real-time analytics. According to the International Data Group (IDG) prediction, 69% of the businesses are planning or implementing data-driven projects in order to enhance production and sales, better decision making, strategic planning of business, and others. Companies in the industry are using nosiness intelligence software in order to predict consumer behavior and engagement with their products and services. For instance, Starbucks started using business intelligence software along with CRM software for predicting the purchasing behavior of customers.

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Prominent Trend - Rising Adoption Of Cloud-Based Business Intelligence Tools In End-User Industries For Enhanced Security And Efficiency

Companies in the end-user industries are increasingly adopting cloud-based business intelligence tools in order to enhance security, access from anywhere online, and benefit from the advantages of economies of scale. The cloud-based BI software is a virtual network that can be accessed via the internet hosted on the vendor's servers to aid efficient connectivity of devices. Cloud-based BI software benefit the companies with its cost-effectiveness and low investment as no additional hardware costs are involved, short implementation time and others. According to study published by Flexera, the USA-based computer software company, in August 2021, more than 50% of enterprises are spending between $1.2 million and $2.4 million, and 38% of enterprises are spending more than $2.4 million on cloud technologies.

BI Software Market Players
Major companies operating in the bi software market include SAP SE, Oracle Corp., JDA Software Group Inc., Infor Global Solutions, Manhattan Associates Inc., Infor Nexus, Descartes Systems Group, IBM Corporation, Kinaxis Inc., High Jump Software, Epicor Software Corporation, Kewill Systems Plc, BluJay Solutions, Indian Foreign Service, Verizon Connect Inc., SPS Commerce Inc., Dassault Systemes, Coupa Software Inc., Basware, WiseTech Global Ltd., e2open Software Co., Jaggaer, GEP Software Co., Zycus Software Co., Plex Manufacturing Cloud, QAD Inc., Sage US, Vanguard Software, Quintiq, Unit4, Rackspace US Inc., Microsoft Corporation, Cisco Systems Inc., GoodData Corporation, Targit AS, VMware Inc., Tableau Software Inc., Google LLC, Open Text Corporation, MicroStrategy Incorporated, QlikTech International AB, Information Builders Inc., Tibco Software Inc., Salesforce.com Inc.

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Largest And Fastest Growing Region In The Market
North America was the largest region in the business intelligence (bi) software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the business intelligence (bi) software market during the forecast period. The regions covered in the bi software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Table Of Content For The Market Report Include:
1. Executive Summary
2. BI Software Market Report Structure
3. BI Software Market Trends And Strategies
4. BI Software Market - Macro Economic Scenario
5. BI Software Market Size And Growth
…..
27. BI Software Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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