India – March 16, 2022 —
Business Intelligence Market Research Report- Forecast till 2030
Market Highlights
With growing developments in business intelligence solutions led by the advancements in AI and related technologies, the market is expected to perceive rapid developments during years to come. According to Market Research Future (MRFR), the global business intelligence market is projected to reach USD 73.57 billion by 2030, registering a phenomenal CAGR of 13.1% during the forecast period (2020 – 2030).
Business intelligence includes technologies, applications, infrastructure and tools, and best practices that enable access to and analysis of information to support informed business decisions. Business Intelligence equips organizations with the advantages of faster decision making, real-time performance measurement, greater insights into customer behavior, better quality of information, better estimation of threats and opportunities, increased sharing of information and improved efficiency, enhanced communication, quick response to changes in financial conditions and supply chain operations, reduced equipment downtime, and others. The drivers of the global business intelligence market are numerous, however, growing adoption of data analytics by organizations across the globe, the emergence of IoT-enabled technologies, and increasing usage of data analytics remain the principal drivers of the market. The increase in quantity and variety of large volume of data produced by organizations has increased the need for business intelligence tasks.
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Segmentation:
The report is segmented into components, technologies, deployments, organization size, industries, and regions. The component segment is sub-segmented into hardware and software. The technology segment is sub-segmented into mobile BI, cloud BI, social BI, and others. The deployment segment is sub-segmented into on-cloud and on-premise. The organization segment is sub-segmented into SMEs and large-scale enterprises.
The industry segmented is sub-segmented into telecom & IT, retail, media & entertainment, manufacturing, healthcare, government, energy & power, education, manufacturing, retail, BFSI, and others. The region segment is sub-segmented into Asia Pacific, Americas, Europe, and rest-of-the-world.
Regional Analysis:
North America leads the business intelligence market. Presence of major industry players in the region, intense R&D activities in the field of technology, increasing competition, and evolving trend of data proliferation aids the growth of the market in North America. Asia-Pacific holds potential growth opportunities and is estimated to manifest high growth during the forecast period owing to ongoing industrialization and advancements in the field of technology in the region.
Competitive Analysis
Fiercely competitive, the business intelligence market witnesses the presence of many key players. To gain a larger competitive advantage, market players incorporate strategies, such as acquisition, collaboration, expansion, and technology launch.
Major players invest substantially in R&D to develop unique solutions that are entirely on a different level compared to their competition.
Major Players:
Players leading in the global business intelligence market include Verizon wireless (US), SAS Institute (US), SAP SE (Germany), Juniper Networks (US), Cisco Systems (US), AT&T (US), Rackspace (US), IBM Corp. (US), VMware (US), and Microsoft Corp. (US), among others.
Industry/Innovation/Related News:
July 13, 2021 — Zoho Corp launched new business intelligence (BI) platform infused with AI, including data preparation tools that organizations would otherwise have to acquire separately. The new BI platform combines Zoho’s technologies, such as DataPrep, with an enhanced version of analytics and its existing Show presentation software and Sites portal builder tools in a single offering.
The offering makes it simpler for end-users to construct and share analytics via visual dashboards, letting them launch queries against data using either graphical tools or the conversational AI platform.
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Business Intelligence Market, By Technology (Mobile BI, Cloud BI, Social BI), By Service (Hosted, Managed), By Deployment (On Premises, On Cloud), By Component (Hardware, Software), By Organization (SMU, LBU) – Forecast to 2030
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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.
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Contact Info:
Name: Saurabh Sinha
Email: Send Email
Organization: Market Research Future
Address: Market Research Future (Part of Wantstats Research and Media Private Limited)
Phone: 16282580071
Website: https://www.marketresearchfuture.com/reports/business-intelligence-market-2299
Release ID: 89070752
