Global Business Intelligence (BI) Vendors Market Projected to Grow at 9.7% CAGR, Reaching $45.2 Billion by 2029

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What Will the Business Intelligence (BI) Vendors Industry Market Size Be by 2025?
The market size of business intelligence (bi) vendors has seen robust growth in the past few years. It is projected to rise from $28.38 billion in 2024 to $31.19 billion in 2025, registering a compound annual growth rate (CAGR) of 9.9%. The growth during the past years can be traced back to the wider usage of BI among businesses, improved decision-making speed, increased data access, better information accessibility via mobile BI, and advanced internal communication through mobile BI.

What's the Long-Term Growth Forecast for the Business Intelligence (BI) Vendors Market Size Through 2029?
The market size for business intelligence (bi) vendors is projected to experience substantial growth in the coming years. It's predicted to increase to $45.2 billion by 2029, delivering a compound annual growth rate (CAGR) of 9.7%. This growth within the predicted time is a result of a growing endorsement of data analysis, a surge in e-commerce utilization, greater adoption of data-driven business models, an expanded use of the internet globally, and an increasing need for immediate data analysis. Dominant trends within this period are the application of IoT and big data, the need for mobile business intelligence facilities, the utilization of predictive and prescriptive analysis tools, the rise in popularity of cloud-based bi tools and services, and the adoption of cloud-based bi solutions.

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What Are the Key Growth Drivers Fueling the Business Intelligence (BI) Vendors Market Expansion?
The escalation in digitalization is predicted to drive the expansion of the business intelligence (BI) vendors market in the future. Digitalization involves turning information, data, or tangible items into a digital format that computers can effortlessly process, store, and convey. The rising efficiency and connectivity afforded by digital technology are fueling the expansion of digitalization. Business intelligence (BI) vendors aid firms in adopting a more data-centric approach, thereby enhancing their decision-making capabilities, operational effectiveness, and overall business performance. For example, a report released by gov.uk, a government website based in the UK, stated in February 2024 that according to preliminary estimates, in 2022, the digital sector injected $171.25 million into the UK economy, representing 7.2% of the overall UK gross value added (GVA). This marked a minimal rise from 7.1% in 2021. Consequently, the acceleration of digitalization is stimulating the expansion of the business intelligence (BI) vendors market.

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What Are the Key Trends Driving Business Intelligence (BI) Vendors Market Growth?
Leading companies in the business intelligence (BI) vendors market are innovating with AI-powered systems to amplify their data analytics abilities. These platforms, powered by artificial intelligence and machine learning, bolster the efficiency of conventional BI tools. A prime example of this is ThoughtSpot, a US-based enterprise specializing in AI-based analytics, which broadened its platform in May 2023 to help businesses offer cutting-edge data experiences. The improved platform facilitates easier data discovery, examination, and visualization through the use of artificial intelligence and machine learning, enabling companies to make informed decisions effectively. The platform expansion by ThoughtSpot encompassed conversational business intelligence, AI highlights, and natural language search, these being critical components of contemporary business intelligence solutions.

How Is the Business Intelligence (BI) Vendors Market Segmented?
The business intelligence (bi) vendorsmarket 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

Subsegments:
1) By Platform: Cloud-Based Bi Platforms, On-Premise Bi Platforms, Hybrid Bi Platforms, Self-Service Bi Platforms, Data Visualization Platforms, Data Warehousing Platforms
2) By Software: Data Analytics Software, Reporting And Querying Software, Dashboard Software, Predictive Analytics Software, Olap (Online Analytical Processing) Software, Data Mining Software, Etl (Extract, Transform, Load) Software
3) By Solution: Bi Reporting Solutions, Bi Dashboard Solutions, Data Integration Solutions, Cloud Bi Solutions, Predictive Analytics Solutions, Big Data Analytics Solutions
4) By Services: Consulting Services, Implementation Services, Support And Maintenance Services, Training And Education Services, Data Integration Services, Managed Bi Services, Custom Bi Solutions

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Which Companies Are Leading the Charge in Business Intelligence (BI) Vendors Market Innovation?
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

Which Regions Are Leading the Global Business Intelligence (BI) Vendors Market in Revenue?
North America was the largest region in the business intelligence (BI) vendors market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the business intelligence (BI) vendors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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