Business Intelligence Market By Component (Software, Platform, Services, Managed Services, Professional Services); By Data Type (Structured Data, Semi-Structured Data, Unstructured Data); By Deployment Type (On-Demand, On-Premises); By Business Size (Small & Medium Enterprises, Large Enterprises); By Technology (Cloud BI, Traditional BI, Social BI, Mobile BI); By Application (Operations Management, Network Management and Optimization, Predictive Asset Maintenance, Sales and Marketing Management, Fraud Prevention and Security Management, Workforce Management, Supply Chain Optimization, Other Applications); By End-User (Media and Entertainment, Manufacturing, Telecommunications and IT, Transportation and Logistics, Retail and Consumer Goods, Banking, Financial Services, and Insurance, Energy and Utilities, Healthcare and Life Sciences, Government and Defense, Others); By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Market Analysis, Trends, Opportunity and Forecast, 2022-2032
Business Intelligence Market Overview
The global business intelligence market is expected to thrive at a compound annual growth rate (CAGR) of 7.2% during the said period. Business intelligence (BI) combines business analytics, data mining, data visualization, data tools and infrastructure, and best practices to help organizations to make more data-driven decisions, this set of business intelligence are being adopted among almost every business.
The Global business intelligence market is expected to grow from USD 27.8 billion in 2022 to USD 55.6 billion by 2032, at a CAGR of 7.2% during the forecast period 2022-2032.
Business Intelligence Market Insights
Growth Drivers – Business Intelligence Market
Rising Penetration of Mobile Devices
Growing adoption of mobile technologies such as cellphone, laptop, tablet and more is resulting in a huge amount of data generated within an organization, which in turn increases the demand for potential tools & technologies wherein a huge amount of data can be managed accordingly. Business intelligence includes data analytics and business analytics, further helps the business in processes and methods of collecting, storing, and analyzing data from business operations or activities to optimize a business’s performance.
Rising Penetration of Big Data and IoT
Increasing penetration of smartphones, machine learning, and high-speed internet across every major country can stimulate product demand in the coming years. Most of the industries, and sectors are adopting advanced BI (Business Intelligence) solutions as the usage of advanced and IoT based technologies have grown notably in previous years. The world is going through great evolutions, this involves rapid urbanization, industrialization and more. Further, this developing world is creating many opportunities for people and is helping businesses to grow fast and bigger than ever. There are an infinite number of businesses running across the globe and this number is likely to increase at a remarkable rate in upcoming years. Likely, a rising number of businesses is a major factor that is augmenting the demand for numerous business intelligence tools, which in turn projected to bolster the growth of the market in the near future.
Barriers – Business Intelligence Market
Despite of strong growth, the market is witnessing several hinders such as shortage of trained employees, higher cost of installing business intelligence tools, and complex process of deploying and installation. The usage of BI tools is at a nascent stage, resulting in absence of BI Impact, which is another serious concern confronting the growth of global business intelligence market.
Business Intelligence Market Segmentation
The research offers a comprehensive analysis of the business intelligence market with respect to following sub-markets:
- Managed Services
- Professional Services
By Data Type
- Structured Data
- Semi-Structured Data
- Unstructured Data
By Deployment Type
By Business Size
- Small & Medium Enterprises
- Large Enterprises
- Cloud BI
- Traditional BI
- Social BI
- Mobile BI
- Operations Management
- Network Management and Optimization
- Predictive Asset Maintenance
- Sales and Marketing Management
- Fraud Prevention and Security Management
- Workforce Management
- Supply Chain Optimization
- Other Applications
- Media and Entertainment
- Telecommunications and IT
- Transportation and Logistics
- Retail and Consumer Goods
- Banking, Financial Services, and Insurance
- Energy and Utilities
- Healthcare and Life Sciences
- Government and Defense
• North America (U.S. & Canada)
• Europe (Germany, United Kingdom, France, Italy, Spain, Russia and Rest of Europe)
• Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, New Zealand and Rest of Asia Pacific)
• Latin America (Brazil, Mexico, Argentina and Rest of Latin America)
• Middle East & Africa (GCC, North Africa, South Africa and Rest of Middle East & Africa)
Business Intelligence Market Key Players
The report profiles various major market players such as:
- Looker Data Sciences
- Tableau Software
- SAP SE
- Domo, Inc.
- QlikTech International AB
- Dundas Data Visualization, Inc.
- Yellowfin Business Intelligence
- Other Prominent Players
Competitive landscape analysis provides detailed strategic analysis of the company’s business and performance such as financial information, revenue breakup by segment and by geography, SWOT Analysis, risk analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, and recent news (acquisition, expansion, technology development, research & development expansion and other market activities).
The study also provides company’s positioning and market share in business intelligence market.
Timeline Considered for Analysis:
- 2021: Base Year
- 2022: Estimated Year
- 2022 to 2032: Forecasted Year
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyzes the global business intelligence market by the following segments:
- Deployment Type
- Data Type
- Business Size
Geographic Market Analysis:
The report offers separate analysis of North America, Europe, Asia Pacific, Latin America and Middle East & Africa. In addition, further breakdown of market data and analysis of region into countries is covered in the report.
Key Questions Answered in the Global Business Intelligence Industry Report
• What is the overall market size in 2021? What will be the market growth during the forecast period i.e. 2022-2032?
• Which region would have high demand for product in the upcoming years?
• What are the factors driving the growth of the market?
• Which sub-market will make the most significant contribution to the market?
• What are the market opportunities for existing and entry-level players?
• What are various long-term and short-term strategies adopted by the market players?