Business Intelligence Market worth USD 34.3 Billion by 2022: Industry Application and Forecast

Market Highlights

Business Intelligence Market is expected to grow at CAGR of ~11.0% from 2016 to 2022 and expected to reach market size of US ~$34.3 Billion by the end of forecast period.

Business Intelligence Market is growing rapidly with the emerging need of market intelligence. The growing demand of the business intelligence solutions among the small and large enterprise companies help to increase the utilization of their data in the optimum way. The usage of these solutions helps to simplify association, sharing and upgrade alignment with a single source for meticulous financial and operational information. Business Intelligence also boost insights to understand and analyze business completion and opportunities on profound level.

Business intelligence is unable to deliver self-service analysis or reporting, the BI tools are complicated and can be used by professionals within the organization. Analysis across multiple system also challenges the business intelligence tools as the data is often is across collection of different system and software. To unlocking the hidden data in system is also the major challenge faced by the business intelligence. The growing demand of business intelligence and analytics software is significant in large enterprises; however, small and medium organizations are also looking for investing in this software as the benefit associated with it encourages its adoption.

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Key Players:

The prominent players in the market of Business Intelligence (BI) are –

• Verizon wireless (U.S.)
• Rackspace (U.S.)
• AT&T (U.S)
• Cisco Systems (U.S.)
• IBM Corp. (U.S.)
• Juniper Networks (U.S.)
• VMware (U.S.)
• SAP SE (Germany)
• Microsoft Corp (U.S)
• SAS Institute (U.S)

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Business Intelligence Market

The Global Business Intelligence Market has been segmented on the basis of, technology, service, component, deployment, organization, and industry. By technology involves mobile BI, Cloud BI, Social BI and others. By Service includes managed service, hosted service and others. By Deployment includes On-Cloud and On-Premises. Whereas, by organization it includes small business units, by component it include hardware and software and large business units and by industry it is segmented into Telecom & IT, education, manufacturing, retail, banking and others.

Market Research Analysis:

Market Research Future Analysis shows that the growing demand of intelligence service in small and medium business units acts as a major contributor in the growth of global business intelligence market, due to its deployment and cost effective features. The implacable rise in large amount of data and customer interest in mobile mechanism has achieved new pathways which helps in the growth of this market. Cloud based business intelligence demand has significantly grown due to cost effective and easier classification features. Business intelligence has given the industry dynamic tool to improve operational efficiency. Business intelligence identify and develop the new cross sell and upsell opportunity and carry more online marketing campaigns. Business intelligence market is likely towards completion in North America and Europe. However emerging in the APAC and Latin America regions as they are investing in business intelligence for strategic decision making in the business process.

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About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

Contact:
Akash Anand,
Market Research Future
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Email: akash.anand@marketresearchfuture.com

This release was published on openPR.