Business Intelligence Market is Expected to Reach USD 33657.87 Mn by 2023

Business intelligence (BI) refers a technology-driven process of analyzing the large set of data collected from numerous internal and external sources to derive actionable insights for making informed business decisions.

According to Publisher, the global business intelligence market to grow from USD 18289.95 million in 2016 to USD 33657.87 million by 2023, at a CAGR of 9.1%. The year 2016 has been considered as the base year, while the forecast period is up-to 2023.

BI comprises of the wide variety of applications, tools, and methodologies that helps organizations to collect data from heterogeneous sources, prepare for analysis, run queries again data, create reports & dashboards, and visualize data to consume analytical results for decision making. BI offers the wide range of analytical capabilities that can be integrated with third-party solutions to address most demanding business intelligence needs and seamlessly evolve over time to meet future requirements.

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Market Dynamics:
• Drivers
o Boost productivity and gains market intelligence
o Pinpoint cross selling and upselling opportunities
o Fact-based decision making and prescriptive analytics to pull out trends from past

• Restraints
o Lack oforganization-wide adoption
o High infrastructural investment and extensive training cost

• Opportunities
o Embedding visualization in BI to extend the reach of analytics
o Self-service analytics interface through natural language processing
o Adaptive firms with smart data discovery, analytics workflow automation, and machine learning

• Challenges
o Extracting and analyzing data from multiple sources
o Issues in driving business decisions in real-time from big data

Scope of the Report:

The research report categorizes the business intelligence market to forecast the revenues and analyze the trends in each of the following subsegments:

• Industry Trends Analysis
o Aerospace & Defense
o Banking, Financial Services & Insurance
o Consumer Goods & Retail
o Education
o Energy & Utilities
o Government
o Healthcare & Life Sciences
o Information Technology
o Manufacturing
o Media & Entertainment
o Telecommunication
o Transportation & Logistics
o Travel & Hospitality

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• Geographic Trends Analysis
o Americas
 United States
o Europe, Middle East & Africa
 United Kingdom
 Germany
 Saudi Arabia
o Asia-Pacific
 China
 Japan
 India

Product Usability Profiles:

The business intelligence market research report provides the product usability profiles and analyze the features & pricing, informant reviews of the following product:

• Alteryx Analytics
• Amazon QuickSight
• BOARD
• Bime
• Birst Platform
• Datameer
• Datawatch Monarch
• IBM Cognos Analytics
• Information Builders WebFOCUS
• Kofax Analytics

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Report Highlights:

The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the demand of business intelligence market. Moreover, the study highlights current market trends and provides forecast. We also have highlighted future trends in the business intelligence market that will impact the demand during the forecast period. Moreover, the competitive analysis of business intelligence market brings an insight on the product usability profiles of the leading players. Additionally, the analysis highlights features & pricing, informant reviews of the key products in the market.

Reasons to Buy:
The business intelligence market research study reveals hidden insights and dynamic, which in turn helps the players in the ecosystem take better strategic decisions. The firms looking for purchasing the global business intelligence market research report could look for following prospects on their way to better understand the market that can aid further decision making and possibly identify the best opportunities to exploit.

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• Evaluate the qualitative and quantitative aspects of the report and analyze the business intelligence market penetration with respect to industries and geographies.

• Evaluate the key vendors in the business intelligence market in terms of products satisfaction and business strategy. This helps identify consumer preferences and understand its current position in 360iResearch FPNV Positioning Matrix.

• Evaluates the key vendors and deeply analyze competitive landscape, revenue pockets, market trends, growth prospects, pain points, drivers, restraints, challenges and opportunities of the business intelligence market.

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This release was published on openPR.