Business Intelligence (BI) Vendors Market Size, Insights, Outlook, Overview And Market Research Report 2024-2033

The new report published by The Business Research Company, titled Business Intelligence (BI) Vendors Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the business intelligence (BI) vendors market size has grown rapidly in recent years. It will grow from $25.71 billion in 2023 to $28.38 billion in 2024 at a compound annual growth rate (CAGR) of 10.4%. The business intelligence (BI) vendors market size is expected to see rapid growth in the next few years. It will grow to $42.28 billion in 2028 at a compound annual growth rate (CAGR) of 10.5%.

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The Rising Importance Of Digitalization Fuels The Growth Of The Business Intelligence (BI) Vendors Market
Growing digitalization is expected to propel the growth of the business intelligence (BI) vendors market going forward. Digitalization is the process of converting information, data, or physical objects into a digital format that can be easily processed, stored, and transmitted by computers. The increasing efficiency and connectivity offered by digital technology are driving the growth of digitalization. Business intelligence (BI) vendors help organizations with a more data-driven approach, improving decision-making, operational efficiency, and overall business performance. For instance, in February 2024, according to a report published by gov.uk, a UK-based government website, in 2022, provisional estimates indicate that the digital sector contributed $171.25 million to the UK economy, accounting for 7.2% of the total UK gross value added (GVA). This represents a slight increase from 7.1% in 2021. Therefore, the growing digitalization is driving the growth of the business intelligence (BI) vendors market.

AI-Powered Enhancements Revolutionize Business Intelligence Platforms
Major companies operating in the business intelligence (BI) vendors market are developing AI-powered platforms to enhance data analytics capabilities. The AI-powered analytics platform for business intelligence (BI) vendors is a sophisticated system that leverages artificial intelligence and machine learning technologies to enhance the capabilities of traditional BI tools. For instance, in May 2023, ThoughtSpot, a US-based company that offers AI-based analytics, expanded its platform to empower businesses to provide modern data experiences. The enhanced platform simplifies data discovery, analysis, and visualization using artificial intelligence and machine learning, allowing organizations to make data-driven decisions more efficiently. ThoughtSpot's platform expansion includes conversational business intelligence, AI highlights, and natural language search, which are key features of modern business intelligence solutions.

The business intelligence (BI) vendors market covered in this report is segmented -

1) By Component: Platform, Software, Solution, Services
2) By Data Type: Structured Data, Unstructured Data, Semi-Structured Data
3) By Technology: Mobile , Cloud, Social, Other Technologies
4) By Deployment Model: Cloud, On-Demand, On-Premises
5) By Application: Customer Relationship Management (CRM) Analytic Application, Financial Performance And Strategy Management, Production Planning Analytic Operations, Predictive Asset Maintenance, Fraud Detection And Security Management, Supply Chain Optimization Or Operations, Network Management And Optimization, Workforce Management, Sales And Marketing Management, Other Applications

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Major companies operating in the business intelligence (BI) vendors market are Microsoft Corporation, Verizon Communications Inc., International Business Machines Corporation, Cisco Systems Inc., Oracle Corporation, Salesforce Inc., SAP SE, Juniper Networks Inc. , Cloud Software Group, Citrix Systems Inc., Rackspace Technology Inc., SAS Institute Inc., Hitachi Vantara LLC , TIBCO Software, Pegasystems Inc., Tableau Software LLC, QlikTech International AB, MicroStrategy Incorporated, ThoughtSpot Inc., ConnectWise LLC, Sisense Inc., Mode Analytics Inc., Looker, AT&T Intellectual Property

Contents of the report:
1. Executive Summary
2. Business Intelligence (BI) Vendors Market Report Structure
3. Business Intelligence (BI) Vendors Market Trends And Strategies
4. Business Intelligence (BI) Vendors Market - Macro Economic Scenario
5. Business Intelligence (BI) Vendors Market Size And Growth
…..
27. Business Intelligence (BI) Vendors Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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