Press release
Business Intelligence (BI) market was valued at $29.41 billion in 2023 and is projected to reach $63.77 billion by 2032, growing at a 9.01% CAGR
Business Intelligence (BI) Market
According to Adroit Market Research, the global business intelligence (BI) market was valued at $29.41 billion in 2023. The market is expected to grow at a compound annual growth rate (CAGR) of 9.01% from 2024 to 2032, reaching an estimated $63.77 billion. This growth is fueled by the increasing adoption of data analytics, AI-driven insights, and cloud-based BI solutions across various industries.
📌 Market Size (2023): $29.41 billion
📌 Projected Growth: 9.01% CAGR (2024-2032)
📈 Estimated Market Size (2032): $63.77 billion
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The global Business Intelligence (BI) market study meticulously analyses the profiles of major supplier companies, revealing insights derived from extensive research efforts. Analysts attribute this thorough documentation to high-quality research and the synthesis of evaluations across various critical factors that are increasingly driving the expansion of the global Business Intelligence (BI) market. The research categorizes leading international manufacturers based on their sales, revenue, and, where applicable, pricing strategies. The primary objective is to deliver both qualitative and quantitative insights into the market across different geographical regions and countries.
The implementation of stringent lockdown measures to combat the COVID-19 pandemic has significantly affected supply and demand dynamics, impacting numerous businesses worldwide. Beyond the volatility of short-term market profits, it is expected that certain sectors will face considerable challenges even after the economy recovers from the pandemic. Essentially, almost all businesses across various industries have updated their financial strategies to ensure profitability in the coming years.
Additionally, the study assesses regional growth rates, market size, expenditure data, and profitability analyses. A comprehensive analysis of competitive dynamics is provided to offer a meaningful competitive edge. Geographic research has been conducted based on market share, growth projections, and key countries. A few major corporations dominate a substantial portion of this market. Competition within the global Business Intelligence (BI) industry is escalating as leading companies strive to outperform one another. The report includes detailed revenue analyses, employed methodologies, product specifications, and profiles of key market players.
To achieve better outcomes, significant market strategies are evaluated from both technological and commercial perspectives. Furthermore, consumers can benefit from in-depth market research by gaining a better understanding of the analysis and accessing relevant data. The study presents readers with a comprehensive overview of the industry, aiding them in grasping the competitive landscape of the international Business Intelligence (BI) market.
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Report Highlights:
• Identifies multiple profitable opportunities for major industry participants.
• Provides clients with quantifiable data regarding the current market status.
• Includes strategic business plans of key market competitors.
• Offers a detailed investigation of the target market, emphasizing factors such as drivers, opportunities, and threats.
• Equips stakeholders with information to make informed investment decisions.
• Presents a market synopsis, including primary drivers and risk factors.
Why Acquire This Report:
• The global Business Intelligence (BI) market research study delivers insightful information on the number of significant companies operating internationally.
• It encompasses company financials, technological advancements, supply chain/value chain trends, and major innovations and developments.
• The report outlines details on mergers, acquisitions, joint ventures, key focus areas, investments, and market presence.
• Provides essential information about the target market's revenue, growth rates, and industry share, along with insights into current driving forces, macro trends, and constraints.
Business Intelligence (BI) Market Competitive Landscape:
Prominent participants in the Global Business Intelligence sector, inclusive of software developers, consultancy firms, and data analysis companies, contribute to innovation by delivering sophisticated tools and methodologies aimed at improving data visualization and informed decision-making. Their joint initiatives not only establish industry benchmarks but also facilitate the adoption of BI solutions across diverse industries.
Prominent companies in the Business Intelligence (BI) sector encompass Microsoft, Tableau Software (now under Salesforce), Qlik, IBM, SAP, Oracle, SAS Institute, MicroStrategy, Domo, Sisense, TIBCO Software, Information Builders (currently integrated with lingerie), Looker (a division of Google Cloud), ThoughtSpot, Zoho, Yellowfin, and Birst.
Latest Trends and Innovation in the Global Business Intelligence (BI) Market:
• In September 2023, Microsoft announced the integration of Azure OpenAI Service with its Power BI platform, enhancing data analytics capabilities through advanced AI and natural language processing features.
• In August 2023, Salesforce completed its acquisition of Tableau, fully integrating the BI platform into its Customer 360 suite, which allows users to harness data visualizations alongside customer relationship management (CRM) tools.
• In July 2023, SAP launched SAP Analytics Cloud 2023, which included new machine learning capabilities aimed at simplifying data preparation and building more sophisticated predictive models for businesses.
• In June 2023, IBM revealed its latest version of IBM Cognos Analytics, incorporating more robust AI-driven data storytelling features, which allow users to create interactive reports with natural language queries.
• In May 2023, Oracle expanded its autonomous database capabilities, integrating advanced BI tools within its cloud services to enhance user accessibility to real-time analytics and insights.
• In April 2023, Qlik introduced the Qlik Cloud 2023 platform which features new data connectors and enhanced visualization tools, helping businesses streamline their data analytics processes.
• In March 2023, Sisense launched a groundbreaking data integration capability with AI-driven insights in its Sisense Fusion platform, driving faster and more accurate decision-making for enterprises.
• In February 2023, ThoughtSpot announced significant enhancements to its search-driven analytics platform, enabling users to leverage AI to gain insights from vast datasets with minimal technical knowledge.
Access Full Reports @ https://www.adroitmarketresearch.com/industry-reports/business-intelligence-bi-market
Segments of the Business Intelligence (BI) Market
By Component
• Solution
• Services
By Deployment
• Cloud
• On-premise
By Enterprise Type
• Small and Medium-Sized Enterprises (SMEs)
• Large Enterprises
By Application
• Supply Chain Analytic Applications
• CRM Analytic Operations
• Financial Performance and Strategy Management
• Production Planning Analytic Operations
• Others
By End-use
• BFSI (Banking, Financial Services, and Insurance)
• IT and Telecommunication
• Retail and Consumer Goods
• Manufacturing
• Healthcare
• Others
Regional Overview
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• Latin America
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CONTACT US:
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Account Manager Global
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TX 75204, U.S.A
Phone No.: USA: +1 9726644514
ABOUT US:
Adroit Market Research is an India-based business analytics and consulting company. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a markets size, key trends, participants and future outlook of an industry. We intend to become our clients knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code- Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
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