Global Business Intelligence Market Overview

The Global Business Intelligence Market size is expected to grow from USD 39.25 billion in 2022 to USD 65.94 billion by 2030, at a CAGR of 6.7% during the forecast period (2023-2030).

Business intelligence (BI) is a set of tools and techniques that combines business analytics, data mining, data visualization, data tools and infrastructure, and best practices to help businesses make better data-driven decisions. Business intelligence may assist companies to make better decisions by providing current and historical data in the context of their business. Analysts can use business intelligence to provide performance and competitive benchmarks, allowing the organization to run more smoothly and efficiently. Analysts will be better able to detect market trends, which will help them increase sales or revenue. When used appropriately, the right data can help with everything from compliance to hiring initiatives.

Data scientists must still manage the trade-offs between speed and reporting depth even though software solutions are growing and becoming more sophisticated. Companies are scrambling to capture all of the big data insights, but data analysts can usually filter outsources to create a set of data points that represent the overall health of a process or business area. This can lower the amount of data that needs to be gathered and reformatted for analysis, saving time and speeding up reporting, and, as a result, increasing market growth during the projection period.

Business Intelligence Market

Covid-19 Impact On Business Intelligence Market

The COVID-19 pandemic has impacted negatively several industries around the world. Various public health guidelines were implemented in various nations throughout the world to limit the number of cases and decrease the spread of the coronavirus. Declaring national emergencies, enforcing stay-at-home orders, closing non-essential business operations and schools, banning public gatherings, imposing curfews, distributing digital passes, and allowing police to restrict citizen movements within a country, as well as closing international borders, were the imposed COVID-19 protocols. The COVID-19 pandemic compelled several industry verticals to adopt automation. According to IBM's Trending Insight report, 59% of the total surveyed organizations have accelerated digital transformation. The COVID-19 pandemic has forever changed how businesses operate around the world. According to 55 percent of respondents, the pandemic has caused permanent changes in their organization's strategy. COVID-19 made 60 percent of respondents change their management and accelerate process automation, with 64 percent acknowledging a shift to more cloud-based corporate activities. To summarize, the COVID-19 pandemic has stimulated automation thus, propelling the growth of the business intelligence market over the projected timeframe.

Market Dynamics And Key Factors For Business Intelligence Market

Drivers:

Fast and accurate reporting

Employees can monitor Key Performance Indicators (KPIs) utilizing a range of data sources, including financial, operations, and sales data, using templates or customized reports. These reports are generated in real-time and employ the most up-to-date data, allowing organizations to make quick decisions. Graphs, tables, and charts are commonly used in reports to make them easier to understand. Some BI software reports are interactive, allowing users to experiment with different factors or get data more quickly thus, supporting the growth of the business intelligence market over the analysis period.

Competitive analysis and increase in revenue

The ability to manage and manipulate large amounts of data is in and of itself a competitive advantage. Budgeting, planning, and forecasting are also incredibly effective strategies to stay ahead of the competition, as they go far beyond ordinary analysis and are simple to implement using a business intelligence software. Businesses can also learn how to differentiate their products and services by studying the sales and marketing performance of their competitors. Furthermore, any company's primary goal is to increase revenue. Data from BI tools can help companies ask better questions about why things happened by allowing them to compare data across multiple dimensions and discover sales shortcomings. Revenue is more likely to increase when companies listen to their customers, keep an eye on their competition, and improve their operations thus, propelling the expansion of the business intelligence market during the projected timeframe.

Restraints:

Data Breaches

One of the most pressing concerns with any data analysis system is the risk of leaks. The utilization of business intelligence tools to handle sensitive information can expose the data if an error occurs during the process, thus harming business, customers, or employees. According to a survey conducted by Clutch, more than 30% of surveyed businesses cited security issues as the biggest challenge facing BI thus, hampering the growth of the market during the forecasted timeframe.

High Deployment Cost

The cost of business intelligence software ranges. While the possibility for a high return on investment can justify it, the upfront cost can be expensive for smaller businesses. Clients must also consider the costs of the hardware and IT staff needed to effectively implement the software. In addition, a shortage of qualified data scientists, consulting analysts, and professional IT professionals are likely to hamper the business intelligence market growth during the forecast.

Opportunities:

In today's fast-paced world, customers expect businesses to provide faster and more efficient service. To stay competitive, businesses must meet or exceed consumer expectations. To keep ahead of trends and future events, organizations will have to rely increasingly heavily on their business intelligence tools. Users of business intelligence are increasingly demanding real-time or near-real-time analysis of their operations, particularly in frontline operations. In the same way that they check stock quotes online, they will grow to expect up-to-date and fresh information. Analysis on a monthly or even weekly basis will not suffice. Companies will grow dependent on real-time business information in the not-too-distant future, much like people have come to anticipate information on the internet in only one or two clicks. As a result, business intelligence capabilities requirements will rise in pace with customer expectations in the future. As a result, organizations must grow at the same rate or even quicker to remain competitive, thus creating a lucrative opportunity for the market players.

Market Segmentation

Segmentation Analysis of Business Intelligence Market:

By Component, the solution segment is anticipated to lead the growth of the business intelligence market over the forecasted timeframe. Solutions play an important role for businesses to derive actionable insights by tracking real-time and historical business performance. The growing automation in every industry vertical and the integration of AI with business intelligence, empowers organizations to comprehensively integrate data. This combination will demand more enhanced data visualization thereby, supporting the development of the segment.

By Deployment, the cloud segment is anticipated to have the highest share of the business intelligence market over the projected timeframe During the projected period, cloud deployment is expected to rise at the fastest rate. Enterprises that have deployed on-premises applications can utilize cloud deployment to enhance their storage, networking, and tool capabilities, as well as their analytical capabilities. Cloud deployments allow the company to manage its applications without having to worry about the BI infrastructure. This element aids the organization in increasing productivity, reducing operational costs, and optimizing implementation timelines. Hence, cloud deployment is expected to show a significant growth rate.

By Enterprise Size, the SEMs are expected to develop at the highest CAGR over the projected timeframe attributed to the growing inclination towards automation for smooth functioning. SMEs are investing in business intelligence (BI) solutions to boost revenue, improve decision-making, and gain a competitive advantage. They want to strengthen their marketing and sales decision-making to become more in tune with their customers and more profitable. Business intelligence solutions are being used by SMEs to save time in almost every department, from sales and marketing to finance and IT. Furthermore, systems get more streamlined as countless repetitive processes are automated, accelerating the segment's growth.

By Application, the financial performance & strategy management segment is forecasted to have a lion's share of the business intelligence market. Business intelligence tools assist clients in inputting data into action and thus reduce risks. It also rapidly detects fraudulent actions by tracking client behavior. Business intelligence assists in assessing credit portfolios and discovering prospective cases of delinquency utilizing the data available, as well as information about the current economic condition. Business intelligence solutions, in general, are a proactive technique to manage risks in any financial industry thus, supporting the growth of the segment.

By End-Use Industry, the BFSI segment is anticipated to have the major share of the business intelligence market in the projected timeframe. Retaining existing customers is an effective and long-term business strategy, thus business intelligence tools are one of the most valuable assets in the BFSI sector. The financial industry is prone to sudden and unexpectedly changing environments. In the banking and financial industry, BI applications aid in the identification and reduction of fraudulent activity, hence reducing risks. Compliance with national and international regulatory norms can be ensured with a solid BI solution. Furthermore, by measuring throughput volume, service delivery cycle time, error rates, and service quality CSATs, business intelligence in the financial industry aids in tracking the performance of various departments and workers. Organizations can gain insight into their business processes with this type of data thus, boosting the growth of the segment.

Regional Analysis of Business Intelligence Market:

The North American region is anticipated to have the highest share of the business intelligence market over the forecast period owing to its technological advancement in business management analytics for their sales, production, and innovation. The rapid development of advanced technologies and the adoption of emerging technologies by businesses are supporting the growth of the market. Moreover, most of the prominent service providers such as IBM, Microsoft, Oracle, and Tableau are headquartered in this region thus, supporting the growth of the business intelligence market in this region.

The European region is anticipated to have the second-highest share of the business intelligence market during the analysis period attributed to the growing inclination towards digitization of businesses. Most of the medium and large size enterprises are adopting digital technologies to stay competitive in the market. According to European Investment Bank (EIB), more than 60% of business organizations are adopting or have adopted digital strategies. Moreover, the adoption of digital technologies reduces operational costs by increasing productivity, efficiency and reducing Full-Time Equivalent (FTE). This digitization process can be enhanced by employing business intelligence tools. It combines business analytics, data mining, data visualization, data tools and infrastructure, and best practices to provide insight and to help organizations to make more data-driven decisions thus, propelling the growth of the market in this region.

The business intelligence market in the Asia-Pacific region is anticipated to develop at the highest CAGR over the projected timeframe. The development of R&D facilities by prominent players in this region in an attempt to expand their business intelligence market, and offer clients with knowledge of BI policies. For instance, Teradata Corporation has had a presence in India since 2001, with R&D expansion facilities in Bangalore and Hyderabad, as well as an International Consulting Center in Mumbai. The growing IoT market in this region is increasing the demand for efficient data management services thus, strengthening the growth of the business intelligence market in this region.

Players Covered In Business Intelligence Market are:

  • IBM
  • Zoho
  • Oracle
  • SAP
  • Salesforce
  • Yellofin
  • SAS
  • Google
  • AWS
  • MicroStrategy
  • DOMO
  • TIBCO
  • Information Builders
  • Teradata
  • Sisense
  • Board International
  • Microsoft
  • Amlgo Labs
  • Infor
  • Targit
  • Dundas
  • Qlik
  • Vphrase and other major players.

Recent Industry Developments In Business Intelligence Market

  • In January 2022, Idera Inc announced the acquisition of Yellowfin International Pty Ltd, an industry-leading, turnkey analytics, and BI solution platform provider. This acquisition will enable Idera's customers to integrate Yellowfin's product into proprietary applications and gather data without disrupting the end-user experience, unlocking immediate ROI.
  • In July 2021, through self-service data preparation and augmented analytics, Zoho Corporation has introduced its new Business Intelligence (BI) Platform, an AI-driven data analytics solution that enables enterprises to surface precise and actionable insights. Pre-built visual dashboards, complete data connectors, data preparation, augmented and embedded BI, security and privacy capabilities, multiple deployment models (cloud or on-premise), and scalability are all included in Zoho's BI Platform.

Global Business Intelligence Market

Base Year:

2022

Forecast Period:

2023-2030

Historical Data:

2017 to 2022

Market Size in 2022:

USD 39.25 Bn.

Forecast Period 2023-30 CAGR:

6.7 %

Market Size in 2030:

USD 65.94 Bn.

Segments Covered:

By Component

  • Solutions
  • Services

By Deployment

  • Cloud
  • On-Premise

By Enterprise Size

  • Large Enterprises
  • SMEs

By Application

  • Supply Chain Analytic Applications
  • CRM Analytic Applications
  • Financial Performance
  • Strategy Management
  • Production Planning Analytic Operations
  • Others

By Industry

  • IT and Telecommunications
  • Banking
  • Finance
  • Security and Insurance (BFSI)
  • Healthcare
  • Manufacturing
  • Retail
  • Others

By Region

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
  • Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
  • Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
  • South America (Brazil, Argentina, Rest of SA)

Key Market Drivers:

  • Fast and accurate reporting

Key Market Restraints:

  • High Deployment Cost

Key Opportunities:

  • Increasing Reliability of Organizations on Real-Time Business

Companies Covered in the report:

  • IBM, Zoho, Oracle, SAP, Salesforce, and other major players.

Chapter 1: Introduction
 1.1 Research Objectives
 1.2 Research Methodology
 1.3 Research Process
 1.4 Scope and Coverage
  1.4.1 Market Definition
  1.4.2 Key Questions Answered
 1.5 Market Segmentation

Chapter 2:Executive Summary

Chapter 3:Growth Opportunities By Segment
 3.1 By Component
 3.2 By Deployment
 3.3 By Enterprise Size
 3.4 By Application
 3.5 By Industry

Chapter 4: Market Landscape
 4.1 Porter's Five Forces Analysis
  4.1.1 Bargaining Power of Supplier
  4.1.2 Threat of New Entrants
  4.1.3 Threat of Substitutes
  4.1.4 Competitive Rivalry
  4.1.5 Bargaining Power Among Buyers
 4.2 Industry Value Chain Analysis
 4.3 Market Dynamics
  3.5.1 Drivers
  3.5.2 Restraints
  3.5.3 Opportunities
  3.5.4 Challenges
 4.4 Pestle Analysis
 4.5 Technological Roadmap
 4.6 Regulatory Landscape
 4.7 SWOT Analysis
 4.8 Price Trend Analysis
 4.9 Patent Analysis
 4.10 Analysis of the Impact of Covid-19
  4.10.1 Impact on the Overall Market
  4.10.2 Impact on the Supply Chain
  4.10.3 Impact on the Key Manufacturers
  4.10.4 Impact on the Pricing

Chapter 4: Business Intelligence Market by Component
 4.1 Business Intelligence Market Overview Snapshot and Growth Engine
 4.2 Business Intelligence Market Overview
 4.3 Solutions
  4.3.1 Introduction and Market Overview
  4.3.2 Historic and Forecasted Market Size (2016-2028F)
  4.3.3 Key Market Trends, Growth Factors and Opportunities
  4.3.4 Solutions: Grographic Segmentation
 4.4 Services
  4.4.1 Introduction and Market Overview
  4.4.2 Historic and Forecasted Market Size (2016-2028F)
  4.4.3 Key Market Trends, Growth Factors and Opportunities
  4.4.4 Services: Grographic Segmentation

Chapter 5: Business Intelligence Market by Deployment
 5.1 Business Intelligence Market Overview Snapshot and Growth Engine
 5.2 Business Intelligence Market Overview
 5.3 Cloud
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size (2016-2028F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 Cloud: Grographic Segmentation
 5.4 On-Premise
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size (2016-2028F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 On-Premise: Grographic Segmentation

Chapter 6: Business Intelligence Market by Enterprise Size
 6.1 Business Intelligence Market Overview Snapshot and Growth Engine
 6.2 Business Intelligence Market Overview
 6.3 Large Enterprises
  6.3.1 Introduction and Market Overview
  6.3.2 Historic and Forecasted Market Size (2016-2028F)
  6.3.3 Key Market Trends, Growth Factors and Opportunities
  6.3.4 Large Enterprises: Grographic Segmentation
 6.4 SMEs
  6.4.1 Introduction and Market Overview
  6.4.2 Historic and Forecasted Market Size (2016-2028F)
  6.4.3 Key Market Trends, Growth Factors and Opportunities
  6.4.4 SMEs: Grographic Segmentation

Chapter 7: Business Intelligence Market by Application
 7.1 Business Intelligence Market Overview Snapshot and Growth Engine
 7.2 Business Intelligence Market Overview
 7.3 Supply Chain Analytic Applications
  7.3.1 Introduction and Market Overview
  7.3.2 Historic and Forecasted Market Size (2016-2028F)
  7.3.3 Key Market Trends, Growth Factors and Opportunities
  7.3.4 Supply Chain Analytic Applications: Grographic Segmentation
 7.4 CRM Analytic Applications
  7.4.1 Introduction and Market Overview
  7.4.2 Historic and Forecasted Market Size (2016-2028F)
  7.4.3 Key Market Trends, Growth Factors and Opportunities
  7.4.4 CRM Analytic Applications: Grographic Segmentation
 7.5 Financial Performance
  7.5.1 Introduction and Market Overview
  7.5.2 Historic and Forecasted Market Size (2016-2028F)
  7.5.3 Key Market Trends, Growth Factors and Opportunities
  7.5.4 Financial Performance: Grographic Segmentation
 7.6 Strategy Management
  7.6.1 Introduction and Market Overview
  7.6.2 Historic and Forecasted Market Size (2016-2028F)
  7.6.3 Key Market Trends, Growth Factors and Opportunities
  7.6.4 Strategy Management: Grographic Segmentation
 7.7 Production Planning Analytic Operations
  7.7.1 Introduction and Market Overview
  7.7.2 Historic and Forecasted Market Size (2016-2028F)
  7.7.3 Key Market Trends, Growth Factors and Opportunities
  7.7.4 Production Planning Analytic Operations: Grographic Segmentation
 7.8 Others
  7.8.1 Introduction and Market Overview
  7.8.2 Historic and Forecasted Market Size (2016-2028F)
  7.8.3 Key Market Trends, Growth Factors and Opportunities
  7.8.4 Others: Grographic Segmentation

Chapter 8: Business Intelligence Market by Industry
 8.1 Business Intelligence Market Overview Snapshot and Growth Engine
 8.2 Business Intelligence Market Overview
 8.3 IT and Telecommunications
  8.3.1 Introduction and Market Overview
  8.3.2 Historic and Forecasted Market Size (2016-2028F)
  8.3.3 Key Market Trends, Growth Factors and Opportunities
  8.3.4 IT and Telecommunications: Grographic Segmentation
 8.4 Banking
  8.4.1 Introduction and Market Overview
  8.4.2 Historic and Forecasted Market Size (2016-2028F)
  8.4.3 Key Market Trends, Growth Factors and Opportunities
  8.4.4 Banking: Grographic Segmentation
 8.5 Finance
  8.5.1 Introduction and Market Overview
  8.5.2 Historic and Forecasted Market Size (2016-2028F)
  8.5.3 Key Market Trends, Growth Factors and Opportunities
  8.5.4 Finance: Grographic Segmentation
 8.6 Security and Insurance (BFSI)
  8.6.1 Introduction and Market Overview
  8.6.2 Historic and Forecasted Market Size (2016-2028F)
  8.6.3 Key Market Trends, Growth Factors and Opportunities
  8.6.4 Security and Insurance (BFSI): Grographic Segmentation
 8.7 Healthcare
  8.7.1 Introduction and Market Overview
  8.7.2 Historic and Forecasted Market Size (2016-2028F)
  8.7.3 Key Market Trends, Growth Factors and Opportunities
  8.7.4 Healthcare: Grographic Segmentation
 8.8 Manufacturing
  8.8.1 Introduction and Market Overview
  8.8.2 Historic and Forecasted Market Size (2016-2028F)
  8.8.3 Key Market Trends, Growth Factors and Opportunities
  8.8.4 Manufacturing: Grographic Segmentation
 8.9 Retail
  8.9.1 Introduction and Market Overview
  8.9.2 Historic and Forecasted Market Size (2016-2028F)
  8.9.3 Key Market Trends, Growth Factors and Opportunities
  8.9.4 Retail: Grographic Segmentation
 8.10 Others
  8.10.1 Introduction and Market Overview
  8.10.2 Historic and Forecasted Market Size (2016-2028F)
  8.10.3 Key Market Trends, Growth Factors and Opportunities
  8.10.4 Others: Grographic Segmentation

Chapter 9: Company Profiles and Competitive Analysis
 9.1 Competitive Landscape
  9.1.1 Competitive Positioning
  9.1.2 Business Intelligence Sales and Market Share By Players
  9.1.3 Industry BCG Matrix
  9.1.4 Ansoff Matrix
  9.1.5 Business Intelligence Industry Concentration Ratio (CR5 and HHI)
  9.1.6 Top 5 Business Intelligence Players Market Share
  9.1.7 Mergers and Acquisitions
  9.1.8 Business Strategies By Top Players
 9.2 IBM
  9.2.1 Company Overview
  9.2.2 Key Executives
  9.2.3 Company Snapshot
  9.2.4 Operating Business Segments
  9.2.5 Product Portfolio
  9.2.6 Business Performance
  9.2.7 Key Strategic Moves and Recent Developments
  9.2.8 SWOT Analysis
 9.3 ZOHO
 9.4 ORACLE
 9.5 SAP
 9.6 SALESFORCE
 9.7 YELLOFIN
 9.8 SAS
 9.9 GOOGLE
 9.10 AWS
 9.11 MICROSTRATEGY
 9.12 DOMO
 9.13 TIBCO
 9.14 INFORMATION BUILDERS
 9.15 TERADATA
 9.16 SISENSE
 9.17 BOARD INTERNATIONAL
 9.18 MICROSOFT
 9.19 AMLGO LABS
 9.20 INFOR
 9.21 TARGIT
 9.22 DUNDAS
 9.23 QLIK
 9.24 VPHRASE

Chapter 10: Global Business Intelligence Market Analysis, Insights and Forecast, 2016-2028
 10.1 Market Overview
 10.2 Historic and Forecasted Market Size By Component
  10.2.1 Solutions
  10.2.2 Services
 10.3 Historic and Forecasted Market Size By Deployment
  10.3.1 Cloud
  10.3.2 On-Premise
 10.4 Historic and Forecasted Market Size By Enterprise Size
  10.4.1 Large Enterprises
  10.4.2 SMEs
 10.5 Historic and Forecasted Market Size By Application
  10.5.1 Supply Chain Analytic Applications
  10.5.2 CRM Analytic Applications
  10.5.3 Financial Performance
  10.5.4 Strategy Management
  10.5.5 Production Planning Analytic Operations
  10.5.6 Others
 10.6 Historic and Forecasted Market Size By Industry
  10.6.1 IT and Telecommunications
  10.6.2 Banking
  10.6.3 Finance
  10.6.4 Security and Insurance (BFSI)
  10.6.5 Healthcare
  10.6.6 Manufacturing
  10.6.7 Retail
  10.6.8 Others

Chapter 11: North America Business Intelligence Market Analysis, Insights and Forecast, 2016-2028
 11.1 Key Market Trends, Growth Factors and Opportunities
 11.2 Impact of Covid-19
 11.3 Key Players
 11.4 Key Market Trends, Growth Factors and Opportunities
 11.4 Historic and Forecasted Market Size By Component
  11.4.1 Solutions
  11.4.2 Services
 11.5 Historic and Forecasted Market Size By Deployment
  11.5.1 Cloud
  11.5.2 On-Premise
 11.6 Historic and Forecasted Market Size By Enterprise Size
  11.6.1 Large Enterprises
  11.6.2 SMEs
 11.7 Historic and Forecasted Market Size By Application
  11.7.1 Supply Chain Analytic Applications
  11.7.2 CRM Analytic Applications
  11.7.3 Financial Performance
  11.7.4 Strategy Management
  11.7.5 Production Planning Analytic Operations
  11.7.6 Others
 11.8 Historic and Forecasted Market Size By Industry
  11.8.1 IT and Telecommunications
  11.8.2 Banking
  11.8.3 Finance
  11.8.4 Security and Insurance (BFSI)
  11.8.5 Healthcare
  11.8.6 Manufacturing
  11.8.7 Retail
  11.8.8 Others
 11.9 Historic and Forecast Market Size by Country
  11.9.1 U.S.
  11.9.2 Canada
  11.9.3 Mexico

Chapter 12: Europe Business Intelligence Market Analysis, Insights and Forecast, 2016-2028
 12.1 Key Market Trends, Growth Factors and Opportunities
 12.2 Impact of Covid-19
 12.3 Key Players
 12.4 Key Market Trends, Growth Factors and Opportunities
 12.4 Historic and Forecasted Market Size By Component
  12.4.1 Solutions
  12.4.2 Services
 12.5 Historic and Forecasted Market Size By Deployment
  12.5.1 Cloud
  12.5.2 On-Premise
 12.6 Historic and Forecasted Market Size By Enterprise Size
  12.6.1 Large Enterprises
  12.6.2 SMEs
 12.7 Historic and Forecasted Market Size By Application
  12.7.1 Supply Chain Analytic Applications
  12.7.2 CRM Analytic Applications
  12.7.3 Financial Performance
  12.7.4 Strategy Management
  12.7.5 Production Planning Analytic Operations
  12.7.6 Others
 12.8 Historic and Forecasted Market Size By Industry
  12.8.1 IT and Telecommunications
  12.8.2 Banking
  12.8.3 Finance
  12.8.4 Security and Insurance (BFSI)
  12.8.5 Healthcare
  12.8.6 Manufacturing
  12.8.7 Retail
  12.8.8 Others
 12.9 Historic and Forecast Market Size by Country
  12.9.1 Germany
  12.9.2 U.K.
  12.9.3 France
  12.9.4 Italy
  12.9.5 Russia
  12.9.6 Spain

Chapter 13: Asia-Pacific Business Intelligence Market Analysis, Insights and Forecast, 2016-2028
 13.1 Key Market Trends, Growth Factors and Opportunities
 13.2 Impact of Covid-19
 13.3 Key Players
 13.4 Key Market Trends, Growth Factors and Opportunities
 13.4 Historic and Forecasted Market Size By Component
  13.4.1 Solutions
  13.4.2 Services
 13.5 Historic and Forecasted Market Size By Deployment
  13.5.1 Cloud
  13.5.2 On-Premise
 13.6 Historic and Forecasted Market Size By Enterprise Size
  13.6.1 Large Enterprises
  13.6.2 SMEs
 13.7 Historic and Forecasted Market Size By Application
  13.7.1 Supply Chain Analytic Applications
  13.7.2 CRM Analytic Applications
  13.7.3 Financial Performance
  13.7.4 Strategy Management
  13.7.5 Production Planning Analytic Operations
  13.7.6 Others
 13.8 Historic and Forecasted Market Size By Industry
  13.8.1 IT and Telecommunications
  13.8.2 Banking
  13.8.3 Finance
  13.8.4 Security and Insurance (BFSI)
  13.8.5 Healthcare
  13.8.6 Manufacturing
  13.8.7 Retail
  13.8.8 Others
 13.9 Historic and Forecast Market Size by Country
  13.9.1 China
  13.9.2 India
  13.9.3 Japan
  13.9.4 Southeast Asia

Chapter 14: South America Business Intelligence Market Analysis, Insights and Forecast, 2016-2028
 14.1 Key Market Trends, Growth Factors and Opportunities
 14.2 Impact of Covid-19
 14.3 Key Players
 14.4 Key Market Trends, Growth Factors and Opportunities
 14.4 Historic and Forecasted Market Size By Component
  14.4.1 Solutions
  14.4.2 Services
 14.5 Historic and Forecasted Market Size By Deployment
  14.5.1 Cloud
  14.5.2 On-Premise
 14.6 Historic and Forecasted Market Size By Enterprise Size
  14.6.1 Large Enterprises
  14.6.2 SMEs
 14.7 Historic and Forecasted Market Size By Application
  14.7.1 Supply Chain Analytic Applications
  14.7.2 CRM Analytic Applications
  14.7.3 Financial Performance
  14.7.4 Strategy Management
  14.7.5 Production Planning Analytic Operations
  14.7.6 Others
 14.8 Historic and Forecasted Market Size By Industry
  14.8.1 IT and Telecommunications
  14.8.2 Banking
  14.8.3 Finance
  14.8.4 Security and Insurance (BFSI)
  14.8.5 Healthcare
  14.8.6 Manufacturing
  14.8.7 Retail
  14.8.8 Others
 14.9 Historic and Forecast Market Size by Country
  14.9.1 Brazil
  14.9.2 Argentina

Chapter 15: Middle East & Africa Business Intelligence Market Analysis, Insights and Forecast, 2016-2028
 15.1 Key Market Trends, Growth Factors and Opportunities
 15.2 Impact of Covid-19
 15.3 Key Players
 15.4 Key Market Trends, Growth Factors and Opportunities
 15.4 Historic and Forecasted Market Size By Component
  15.4.1 Solutions
  15.4.2 Services
 15.5 Historic and Forecasted Market Size By Deployment
  15.5.1 Cloud
  15.5.2 On-Premise
 15.6 Historic and Forecasted Market Size By Enterprise Size
  15.6.1 Large Enterprises
  15.6.2 SMEs
 15.7 Historic and Forecasted Market Size By Application
  15.7.1 Supply Chain Analytic Applications
  15.7.2 CRM Analytic Applications
  15.7.3 Financial Performance
  15.7.4 Strategy Management
  15.7.5 Production Planning Analytic Operations
  15.7.6 Others
 15.8 Historic and Forecasted Market Size By Industry
  15.8.1 IT and Telecommunications
  15.8.2 Banking
  15.8.3 Finance
  15.8.4 Security and Insurance (BFSI)
  15.8.5 Healthcare
  15.8.6 Manufacturing
  15.8.7 Retail
  15.8.8 Others
 15.9 Historic and Forecast Market Size by Country
  15.9.1 Saudi Arabia
  15.9.2 South Africa

Chapter 16 Investment Analysis

Chapter 17 Analyst Viewpoint and Conclusion

Global Business Intelligence Market

Base Year:

2022

Forecast Period:

2023-2030

Historical Data:

2017 to 2022

Market Size in 2022:

USD 39.25 Bn.

Forecast Period 2023-30 CAGR:

6.7 %

Market Size in 2030:

USD 65.94 Bn.

Segments Covered:

By Component

  • Solutions
  • Services

By Deployment

  • Cloud
  • On-Premise

By Enterprise Size

  • Large Enterprises
  • SMEs

By Application

  • Supply Chain Analytic Applications
  • CRM Analytic Applications
  • Financial Performance
  • Strategy Management
  • Production Planning Analytic Operations
  • Others

By Industry

  • IT and Telecommunications
  • Banking
  • Finance
  • Security and Insurance (BFSI)
  • Healthcare
  • Manufacturing
  • Retail
  • Others

By Region

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
  • Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
  • Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
  • South America (Brazil, Argentina, Rest of SA)

Key Market Drivers:

  • Fast and accurate reporting

Key Market Restraints:

  • High Deployment Cost

Key Opportunities:

  • Increasing Reliability of Organizations on Real-Time Business

Companies Covered in the report:

  • IBM, Zoho, Oracle, SAP, Salesforce, and other major players.

LIST OF TABLES

TABLE 001. EXECUTIVE SUMMARY
TABLE 002. BUSINESS INTELLIGENCE MARKET BARGAINING POWER OF SUPPLIERS
TABLE 003. BUSINESS INTELLIGENCE MARKET BARGAINING POWER OF CUSTOMERS
TABLE 004. BUSINESS INTELLIGENCE MARKET COMPETITIVE RIVALRY
TABLE 005. BUSINESS INTELLIGENCE MARKET THREAT OF NEW ENTRANTS
TABLE 006. BUSINESS INTELLIGENCE MARKET THREAT OF SUBSTITUTES
TABLE 007. BUSINESS INTELLIGENCE MARKET BY COMPONENT
TABLE 008. SOLUTIONS MARKET OVERVIEW (2016-2028)
TABLE 009. SERVICES MARKET OVERVIEW (2016-2028)
TABLE 010. BUSINESS INTELLIGENCE MARKET BY DEPLOYMENT
TABLE 011. CLOUD MARKET OVERVIEW (2016-2028)
TABLE 012. ON-PREMISE MARKET OVERVIEW (2016-2028)
TABLE 013. BUSINESS INTELLIGENCE MARKET BY ENTERPRISE SIZE
TABLE 014. LARGE ENTERPRISES MARKET OVERVIEW (2016-2028)
TABLE 015. SMES MARKET OVERVIEW (2016-2028)
TABLE 016. BUSINESS INTELLIGENCE MARKET BY APPLICATION
TABLE 017. SUPPLY CHAIN ANALYTIC APPLICATIONS MARKET OVERVIEW (2016-2028)
TABLE 018. CRM ANALYTIC APPLICATIONS MARKET OVERVIEW (2016-2028)
TABLE 019. FINANCIAL PERFORMANCE MARKET OVERVIEW (2016-2028)
TABLE 020. STRATEGY MANAGEMENT MARKET OVERVIEW (2016-2028)
TABLE 021. PRODUCTION PLANNING ANALYTIC OPERATIONS MARKET OVERVIEW (2016-2028)
TABLE 022. OTHERS MARKET OVERVIEW (2016-2028)
TABLE 023. BUSINESS INTELLIGENCE MARKET BY INDUSTRY
TABLE 024. IT AND TELECOMMUNICATIONS MARKET OVERVIEW (2016-2028)
TABLE 025. BANKING MARKET OVERVIEW (2016-2028)
TABLE 026. FINANCE MARKET OVERVIEW (2016-2028)
TABLE 027. SECURITY AND INSURANCE (BFSI) MARKET OVERVIEW (2016-2028)
TABLE 028. HEALTHCARE MARKET OVERVIEW (2016-2028)
TABLE 029. MANUFACTURING MARKET OVERVIEW (2016-2028)
TABLE 030. RETAIL MARKET OVERVIEW (2016-2028)
TABLE 031. OTHERS MARKET OVERVIEW (2016-2028)
TABLE 032. NORTH AMERICA BUSINESS INTELLIGENCE MARKET, BY COMPONENT (2016-2028)
TABLE 033. NORTH AMERICA BUSINESS INTELLIGENCE MARKET, BY DEPLOYMENT (2016-2028)
TABLE 034. NORTH AMERICA BUSINESS INTELLIGENCE MARKET, BY ENTERPRISE SIZE (2016-2028)
TABLE 035. NORTH AMERICA BUSINESS INTELLIGENCE MARKET, BY APPLICATION (2016-2028)
TABLE 036. NORTH AMERICA BUSINESS INTELLIGENCE MARKET, BY INDUSTRY (2016-2028)
TABLE 037. N BUSINESS INTELLIGENCE MARKET, BY COUNTRY (2016-2028)
TABLE 038. EUROPE BUSINESS INTELLIGENCE MARKET, BY COMPONENT (2016-2028)
TABLE 039. EUROPE BUSINESS INTELLIGENCE MARKET, BY DEPLOYMENT (2016-2028)
TABLE 040. EUROPE BUSINESS INTELLIGENCE MARKET, BY ENTERPRISE SIZE (2016-2028)
TABLE 041. EUROPE BUSINESS INTELLIGENCE MARKET, BY APPLICATION (2016-2028)
TABLE 042. EUROPE BUSINESS INTELLIGENCE MARKET, BY INDUSTRY (2016-2028)
TABLE 043. BUSINESS INTELLIGENCE MARKET, BY COUNTRY (2016-2028)
TABLE 044. ASIA PACIFIC BUSINESS INTELLIGENCE MARKET, BY COMPONENT (2016-2028)
TABLE 045. ASIA PACIFIC BUSINESS INTELLIGENCE MARKET, BY DEPLOYMENT (2016-2028)
TABLE 046. ASIA PACIFIC BUSINESS INTELLIGENCE MARKET, BY ENTERPRISE SIZE (2016-2028)
TABLE 047. ASIA PACIFIC BUSINESS INTELLIGENCE MARKET, BY APPLICATION (2016-2028)
TABLE 048. ASIA PACIFIC BUSINESS INTELLIGENCE MARKET, BY INDUSTRY (2016-2028)
TABLE 049. BUSINESS INTELLIGENCE MARKET, BY COUNTRY (2016-2028)
TABLE 050. MIDDLE EAST & AFRICA BUSINESS INTELLIGENCE MARKET, BY COMPONENT (2016-2028)
TABLE 051. MIDDLE EAST & AFRICA BUSINESS INTELLIGENCE MARKET, BY DEPLOYMENT (2016-2028)
TABLE 052. MIDDLE EAST & AFRICA BUSINESS INTELLIGENCE MARKET, BY ENTERPRISE SIZE (2016-2028)
TABLE 053. MIDDLE EAST & AFRICA BUSINESS INTELLIGENCE MARKET, BY APPLICATION (2016-2028)
TABLE 054. MIDDLE EAST & AFRICA BUSINESS INTELLIGENCE MARKET, BY INDUSTRY (2016-2028)
TABLE 055. BUSINESS INTELLIGENCE MARKET, BY COUNTRY (2016-2028)
TABLE 056. SOUTH AMERICA BUSINESS INTELLIGENCE MARKET, BY COMPONENT (2016-2028)
TABLE 057. SOUTH AMERICA BUSINESS INTELLIGENCE MARKET, BY DEPLOYMENT (2016-2028)
TABLE 058. SOUTH AMERICA BUSINESS INTELLIGENCE MARKET, BY ENTERPRISE SIZE (2016-2028)
TABLE 059. SOUTH AMERICA BUSINESS INTELLIGENCE MARKET, BY APPLICATION (2016-2028)
TABLE 060. SOUTH AMERICA BUSINESS INTELLIGENCE MARKET, BY INDUSTRY (2016-2028)
TABLE 061. BUSINESS INTELLIGENCE MARKET, BY COUNTRY (2016-2028)
TABLE 062. IBM: SNAPSHOT
TABLE 063. IBM: BUSINESS PERFORMANCE
TABLE 064. IBM: PRODUCT PORTFOLIO
TABLE 065. IBM: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 065. ZOHO: SNAPSHOT
TABLE 066. ZOHO: BUSINESS PERFORMANCE
TABLE 067. ZOHO: PRODUCT PORTFOLIO
TABLE 068. ZOHO: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 068. ORACLE: SNAPSHOT
TABLE 069. ORACLE: BUSINESS PERFORMANCE
TABLE 070. ORACLE: PRODUCT PORTFOLIO
TABLE 071. ORACLE: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 071. SAP: SNAPSHOT
TABLE 072. SAP: BUSINESS PERFORMANCE
TABLE 073. SAP: PRODUCT PORTFOLIO
TABLE 074. SAP: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 074. SALESFORCE: SNAPSHOT
TABLE 075. SALESFORCE: BUSINESS PERFORMANCE
TABLE 076. SALESFORCE: PRODUCT PORTFOLIO
TABLE 077. SALESFORCE: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 077. YELLOFIN: SNAPSHOT
TABLE 078. YELLOFIN: BUSINESS PERFORMANCE
TABLE 079. YELLOFIN: PRODUCT PORTFOLIO
TABLE 080. YELLOFIN: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 080. SAS: SNAPSHOT
TABLE 081. SAS: BUSINESS PERFORMANCE
TABLE 082. SAS: PRODUCT PORTFOLIO
TABLE 083. SAS: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 083. GOOGLE: SNAPSHOT
TABLE 084. GOOGLE: BUSINESS PERFORMANCE
TABLE 085. GOOGLE: PRODUCT PORTFOLIO
TABLE 086. GOOGLE: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 086. AWS: SNAPSHOT
TABLE 087. AWS: BUSINESS PERFORMANCE
TABLE 088. AWS: PRODUCT PORTFOLIO
TABLE 089. AWS: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 089. MICROSTRATEGY: SNAPSHOT
TABLE 090. MICROSTRATEGY: BUSINESS PERFORMANCE
TABLE 091. MICROSTRATEGY: PRODUCT PORTFOLIO
TABLE 092. MICROSTRATEGY: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 092. DOMO: SNAPSHOT
TABLE 093. DOMO: BUSINESS PERFORMANCE
TABLE 094. DOMO: PRODUCT PORTFOLIO
TABLE 095. DOMO: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 095. TIBCO: SNAPSHOT
TABLE 096. TIBCO: BUSINESS PERFORMANCE
TABLE 097. TIBCO: PRODUCT PORTFOLIO
TABLE 098. TIBCO: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 098. INFORMATION BUILDERS: SNAPSHOT
TABLE 099. INFORMATION BUILDERS: BUSINESS PERFORMANCE
TABLE 100. INFORMATION BUILDERS: PRODUCT PORTFOLIO
TABLE 101. INFORMATION BUILDERS: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 101. TERADATA: SNAPSHOT
TABLE 102. TERADATA: BUSINESS PERFORMANCE
TABLE 103. TERADATA: PRODUCT PORTFOLIO
TABLE 104. TERADATA: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 104. SISENSE: SNAPSHOT
TABLE 105. SISENSE: BUSINESS PERFORMANCE
TABLE 106. SISENSE: PRODUCT PORTFOLIO
TABLE 107. SISENSE: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 107. BOARD INTERNATIONAL: SNAPSHOT
TABLE 108. BOARD INTERNATIONAL: BUSINESS PERFORMANCE
TABLE 109. BOARD INTERNATIONAL: PRODUCT PORTFOLIO
TABLE 110. BOARD INTERNATIONAL: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 110. MICROSOFT: SNAPSHOT
TABLE 111. MICROSOFT: BUSINESS PERFORMANCE
TABLE 112. MICROSOFT: PRODUCT PORTFOLIO
TABLE 113. MICROSOFT: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 113. AMLGO LABS: SNAPSHOT
TABLE 114. AMLGO LABS: BUSINESS PERFORMANCE
TABLE 115. AMLGO LABS: PRODUCT PORTFOLIO
TABLE 116. AMLGO LABS: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 116. INFOR: SNAPSHOT
TABLE 117. INFOR: BUSINESS PERFORMANCE
TABLE 118. INFOR: PRODUCT PORTFOLIO
TABLE 119. INFOR: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 119. TARGIT: SNAPSHOT
TABLE 120. TARGIT: BUSINESS PERFORMANCE
TABLE 121. TARGIT: PRODUCT PORTFOLIO
TABLE 122. TARGIT: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 122. DUNDAS: SNAPSHOT
TABLE 123. DUNDAS: BUSINESS PERFORMANCE
TABLE 124. DUNDAS: PRODUCT PORTFOLIO
TABLE 125. DUNDAS: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 125. QLIK: SNAPSHOT
TABLE 126. QLIK: BUSINESS PERFORMANCE
TABLE 127. QLIK: PRODUCT PORTFOLIO
TABLE 128. QLIK: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 128. VPHRASE: SNAPSHOT
TABLE 129. VPHRASE: BUSINESS PERFORMANCE
TABLE 130. VPHRASE: PRODUCT PORTFOLIO
TABLE 131. VPHRASE: KEY STRATEGIC MOVES AND DEVELOPMENTS

LIST OF FIGURES

FIGURE 001. YEARS CONSIDERED FOR ANALYSIS
FIGURE 002. SCOPE OF THE STUDY
FIGURE 003. BUSINESS INTELLIGENCE MARKET OVERVIEW BY REGIONS
FIGURE 004. PORTER'S FIVE FORCES ANALYSIS
FIGURE 005. BARGAINING POWER OF SUPPLIERS
FIGURE 006. COMPETITIVE RIVALRYFIGURE 007. THREAT OF NEW ENTRANTS
FIGURE 008. THREAT OF SUBSTITUTES
FIGURE 009. VALUE CHAIN ANALYSIS
FIGURE 010. PESTLE ANALYSIS
FIGURE 011. BUSINESS INTELLIGENCE MARKET OVERVIEW BY COMPONENT
FIGURE 012. SOLUTIONS MARKET OVERVIEW (2016-2028)
FIGURE 013. SERVICES MARKET OVERVIEW (2016-2028)
FIGURE 014. BUSINESS INTELLIGENCE MARKET OVERVIEW BY DEPLOYMENT
FIGURE 015. CLOUD MARKET OVERVIEW (2016-2028)
FIGURE 016. ON-PREMISE MARKET OVERVIEW (2016-2028)
FIGURE 017. BUSINESS INTELLIGENCE MARKET OVERVIEW BY ENTERPRISE SIZE
FIGURE 018. LARGE ENTERPRISES MARKET OVERVIEW (2016-2028)
FIGURE 019. SMES MARKET OVERVIEW (2016-2028)
FIGURE 020. BUSINESS INTELLIGENCE MARKET OVERVIEW BY APPLICATION
FIGURE 021. SUPPLY CHAIN ANALYTIC APPLICATIONS MARKET OVERVIEW (2016-2028)
FIGURE 022. CRM ANALYTIC APPLICATIONS MARKET OVERVIEW (2016-2028)
FIGURE 023. FINANCIAL PERFORMANCE MARKET OVERVIEW (2016-2028)
FIGURE 024. STRATEGY MANAGEMENT MARKET OVERVIEW (2016-2028)
FIGURE 025. PRODUCTION PLANNING ANALYTIC OPERATIONS MARKET OVERVIEW (2016-2028)
FIGURE 026. OTHERS MARKET OVERVIEW (2016-2028)
FIGURE 027. BUSINESS INTELLIGENCE MARKET OVERVIEW BY INDUSTRY
FIGURE 028. IT AND TELECOMMUNICATIONS MARKET OVERVIEW (2016-2028)
FIGURE 029. BANKING MARKET OVERVIEW (2016-2028)
FIGURE 030. FINANCE MARKET OVERVIEW (2016-2028)
FIGURE 031. SECURITY AND INSURANCE (BFSI) MARKET OVERVIEW (2016-2028)
FIGURE 032. HEALTHCARE MARKET OVERVIEW (2016-2028)
FIGURE 033. MANUFACTURING MARKET OVERVIEW (2016-2028)
FIGURE 034. RETAIL MARKET OVERVIEW (2016-2028)
FIGURE 035. OTHERS MARKET OVERVIEW (2016-2028)
FIGURE 036. NORTH AMERICA BUSINESS INTELLIGENCE MARKET OVERVIEW BY COUNTRY (2016-2028)
FIGURE 037. EUROPE BUSINESS INTELLIGENCE MARKET OVERVIEW BY COUNTRY (2016-2028)
FIGURE 038. ASIA PACIFIC BUSINESS INTELLIGENCE MARKET OVERVIEW BY COUNTRY (2016-2028)
FIGURE 039. MIDDLE EAST & AFRICA BUSINESS INTELLIGENCE MARKET OVERVIEW BY COUNTRY (2016-2028)
FIGURE 040. SOUTH AMERICA BUSINESS INTELLIGENCE MARKET OVERVIEW BY COUNTRY (2016-2028)

Please Wait...

Frequently Asked Questions :

What would be forecast period in the Business Intelligence market research report?

The forecast period in the Business Intelligence market research report is 2023-2030.

Who are the key players in Business Intelligence Market?

IBM, Zoho, Oracle, SAP, Salesforce, Yellofin, SAS, Google, AWS, MicroStrategy, DOMO, TIBCO, Information Builders, Teradata, Sisense, Board International, Microsoft, Amlgo Labs, Infor, Targit, Dundas, Qlik, Vphrase, and other major players.

What are the segments of the Business Intelligence Market?

The Business Intelligence Market is segmented into Component, Deployment, Enterprise Size, Application, Industry, and region. By Component, the market is categorized into Solutions, Services. By Deployment, the market is categorized into Cloud, On-Premise. By Enterprise Size, the market is categorized into Large Enterprises, Small and Medium-Sized Enterprises. By Application, the market is categorized into Supply Chain Analytic Applications, CRM Analytic Applications, Financial Performance & Strategy Management, Production Planning Analytic Operations, and Others. By End-User Industry, the market is categorized into IT & Telecommunications, BFSI, Healthcare, Manufacturing, Retail, and Others. By region, it is analyzed across North America (U.S.; Canada; Mexico), Europe (Germany; U.K.; France; Italy; Russia; Spain, etc.), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).

What is the Business Intelligence market?

Business intelligence (BI) is a set of tools and techniques that combines business analytics, data mining, data visualization, data tools and infrastructure, and best practices to help businesses make better data-driven decisions. Business intelligence may assist companies to make better decisions by providing current and historical data in the context of their business.

How big is the Business Intelligence market?

The Global Business Intelligence Market size is expected to grow from USD 39.25 billion in 2022 to USD 65.94 billion by 2030, at a CAGR of 6.7% during the forecast period (2023-2030).