Business Intelligence Market Synopsis
The Global Business Intelligence Market size is expected to grow from USD 41.88 billion in 2022 to USD 75.65 billion by 2030, at a CAGR of 6.79% during the forecast period (2024-2032).
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.
- The Business Intelligence (BI) market was experiencing rapid growth and transformation. BI refers to technologies, applications, and processes for the collection, analysis, and presentation of business information to support decision-making. BI market was characterized by an increasing demand for advanced analytics, data visualization tools, and self-service BI solutions.
- Key trends included the integration of artificial intelligence and machine learning into BI tools, enabling more predictive and prescriptive analytics. Cloud-based BI solutions were gaining popularity due to their scalability and accessibility, allowing organizations to analyze data from anywhere. Mobile BI applications were also on the rise, providing users with real-time insights on the go.
- Major players in the BI market, such as Microsoft, Tableau, and Qlik, were continually innovating to enhance their offerings. The market was driven by a growing awareness of the value of data-driven decision-making across various industries, including finance, healthcare, and retail.
Business Intelligence Market Trend Analysis
Fast and accurate reporting
- Businesses increasingly rely on real-time insights to make informed decisions and gain a competitive edge. Rapid access to precise data enables organizations to respond swiftly to market changes, identify emerging trends, and capitalize on opportunities.
- The demand for business intelligence solutions is propelled by the need for streamlined and automated reporting processes. As technology advances, BI tools offer sophisticated analytics, allowing companies to extract actionable intelligence from vast datasets promptly. This not only enhances operational efficiency but also facilitates strategic planning and performance evaluation.
- In a data-driven era, where information is a critical asset, businesses prioritize solutions that ensure not only speed but also accuracy in reporting. The convergence of data analytics, machine learning, and cloud computing further amplifies the role of fast and accurate reporting in shaping the landscape of the Business Intelligence Market, fostering a culture of data-driven decision-making.
Increasing Reliability of Organizations on Real-Time Business creates an Opportunity
- The increasing reliance of organizations on real-time business operations has created a significant opportunity for the growth of the Business Intelligence (BI) market. In today's fast-paced business environment, organizations seek timely and accurate insights to make informed decisions. Business Intelligence plays a crucial role in this scenario by providing advanced analytics, data visualization, and reporting tools that enable businesses to extract actionable intelligence from their data.
- Real-time BI allows organizations to monitor and analyze data as it is generated, providing immediate insights that can drive quick decision-making. This capability is essential for staying competitive, adapting to market changes, and identifying new opportunities. The BI market has witnessed substantial growth as businesses recognize the value of harnessing data for strategic decision-making.
- Key components of the BI market include data integration, data warehousing, dashboards, and self-service analytics. The demand for BI solutions continues to rise as organizations across various industries strive to enhance their operational efficiency and gain a competitive edge in the dynamic business landscape. The Business Intelligence market is poised for further expansion as businesses increasingly prioritize real-time data analytics to navigate the complexities of the modern market.
Business Intelligence Market Segment Analysis:
Business Intelligence Market Segmented on the basis of Component, Deployment, Enterprise Size, Application, Industry.
By Component, the solution segment is expected to dominate the market during the forecast period
- Business Intelligence (BI) market, the solution segment is poised to assert dominance. As organizations increasingly recognize the critical role of data-driven decision-making, the demand for comprehensive BI solutions has surged. These solutions encompass a spectrum of tools and technologies designed to gather, analyze, and visualize data, empowering businesses to derive actionable insights.
- The solution segment encompasses a wide array of BI offerings, including data visualization tools, reporting software, advanced analytics platforms, and dashboard applications. These components seamlessly integrate into organizational workflows, providing a holistic approach to data management and analysis. The versatility of BI solutions makes them indispensable for enterprises across various industries, fostering a data-centric culture.
- Factors contributing to the ascendancy of the solution segment include the growing complexity of data sources, the need for real-time analytics, and an emphasis on user-friendly interfaces. As organizations navigate the challenges of a data-rich environment, robust BI solutions become a linchpin for strategic decision-making.
By Deployment, the cloud segment held the largest share of 49.8% in 2022
- As organizations increasingly recognize the advantages of cloud-based BI solutions, a significant shift in deployment preferences is observed. The cloud offers unparalleled flexibility, scalability, and accessibility, allowing businesses to efficiently manage and analyze vast amounts of data.
- The ascendancy of the cloud segment in the BI market is underpinned by several factors. First and foremost is the agility it provides, enabling rapid deployment and updates without the need for extensive on-premises infrastructure. This fosters a dynamic and responsive BI environment, crucial for decision-making in today's fast-paced business landscape. Additionally, the cost-effectiveness of cloud-based BI solutions appeals to organizations seeking efficient ways to manage their data analytics needs without hefty upfront investments.
Business Intelligence Market Regional Insights:
North America is Expected to Dominate the Market Over the Forecast period
- North America is poised to maintain its dominance in the Business Intelligence (BI) market. The region's supremacy can be attributed to several factors that contribute to its robust BI landscape. The presence of major industry players, technological advancements, and a well-established infrastructure are key drivers. The United States, in particular, hosts a significant number of leading BI vendors and is a hub for innovation in analytics and data-driven decision-making.
- The increasing adoption of cloud-based BI solutions, coupled with a growing emphasis on data-driven strategies across various industries, further propels North America's stronghold in the market. The region benefits from a mature ecosystem that fosters collaboration between businesses and technology providers, fostering a conducive environment for BI development and implementation.
- Moreover, a high awareness and understanding of the importance of BI among enterprises in North America contribute to the widespread adoption of these solutions. With a dynamic business landscape and a focus on leveraging data for competitive advantage, North America is likely to continue leading the way in the evolving realm of Business Intelligence.
Business Intelligence Market Top Key Players:
- Microsoft(USA)
- Tableau Software (USA)
- SAP (Germany)
- Oracle Corporation (USA)
- Qlik Technologies (USA)
- Sisense (Israel)
- Looker (USA)
- Domo (USA)
- Mode Analytics (USA)
- Zoho Analytics (India)
- Alteryx (USA)
- Qualtrics (USA)
- Yellowfin BI (Australia)
- Birst (USA)
- ThoughtSpot (USA)
- Domino Data Science (USA)
- Trifacta (Canada)
- Gtmhub (USA)
- Chartio (USA)
- Metabase (USA) and Other Major Players
Key Industry Developments in the Business Intelligence Market:
- In June 2023, Thoma Bravo acquired Coupa Software for $8 billion, This major acquisition expanded Thoma Bravo's portfolio in the enterprise software space and strengthened Coupa's position in the Business Spend Management market.
- In May 2023, GoodData announced the release of its new Last Mile ETL feature, which helps customers streamline their data management processes, enabling more effective use of time and resources and maximized data velocity. It fully supports changes made to the logical data model (LDM) within the GoodData interface without affecting the data and data structure in a user's database.
Global Business Intelligence Market |
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Base Year: |
2022 |
Forecast Period: |
2023-2030 |
Historical Data: |
2017 to 2022 |
Market Size in 2024: |
USD 41.88 Bn. |
Forecast Period 2024-32 CAGR: |
6.79 % |
Market Size in 2032: |
USD 75.65 Bn. |
Segments Covered: |
By Component |
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By Deployment |
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By Enterprise Size |
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By Application |
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By Industry |
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By Region |
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Key Market Drivers: |
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Key Market Restraints: |
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Key Opportunities: |
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Companies Covered in the report: |
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- INTRODUCTION
- RESEARCH OBJECTIVES
- RESEARCH METHODOLOGY
- RESEARCH PROCESS
- SCOPE AND COVERAGE
- Market Definition
- Key Questions Answered
- MARKET SEGMENTATION
- EXECUTIVE SUMMARY
- MARKET OVERVIEW
- GROWTH OPPORTUNITIES BY SEGMENT
- MARKET LANDSCAPE
- PORTERāS FIVE FORCES ANALYSIS
- Bargaining Power Of Supplier
- Threat Of New Entrants
- Threat Of Substitutes
- Competitive Rivalry
- Bargaining Power Among Buyers
- INDUSTRY VALUE CHAIN ANALYSIS
- MARKET DYNAMICS
- Drivers
- Restraints
- Opportunities
- Challenges
- MARKET TREND ANALYSIS
- REGULATORY LANDSCAPE
- PESTLE ANALYSIS
- PRICE TREND ANALYSIS
- PATENT ANALYSIS
- TECHNOLOGY EVALUATION
- MARKET IMPACT OF THE RUSSIA-UKRAINE WAR
- Geopolitical Market Disruptions
- Supply Chain Disruptions
- Instability in Emerging Markets
- ECOSYSTEM
- PORTERāS FIVE FORCES ANALYSIS
- BUSINESS INTELLIGENCE MARKET BY COMPONENT (2016-2030)
- BUSINESS INTELLIGENCE MARKET SNAPSHOT AND GROWTH ENGINE
- MARKET OVERVIEW
- SOLUTIONS
- Introduction And Market Overview
- Historic And Forecasted Market Size in Value (2016 ā 2030F)
- Historic And Forecasted Market Size in Volume (2016 ā 2030F)
- Key Market Trends, Growth Factors And Opportunities
- Geographic Segmentation Analysis
- SERVICES
- BUSINESS INTELLIGENCE MARKET BY DEPLOYMENT (2016-2030)
- BUSINESS INTELLIGENCE MARKET SNAPSHOT AND GROWTH ENGINE
- MARKET OVERVIEW
- CLOUD
- Introduction And Market Overview
- Historic And Forecasted Market Size in Value (2016 ā 2030F)
- Historic And Forecasted Market Size in Volume (2016 ā 2030F)
- Key Market Trends, Growth Factors And Opportunities
- Geographic Segmentation Analysis
- ON-PREMISE
- BUSINESS INTELLIGENCE MARKET BY ENTERPRISE SIZE (2016-2030)
- BUSINESS INTELLIGENCE MARKET SNAPSHOT AND GROWTH ENGINE
- MARKET OVERVIEW
- LARGE ENTERPRISES
- Introduction And Market Overview
- Historic And Forecasted Market Size in Value (2016 ā 2030F)
- Historic And Forecasted Market Size in Volume (2016 ā 2030F)
- Key Market Trends, Growth Factors And Opportunities
- Geographic Segmentation Analysis
- SMES
- BUSINESS INTELLIGENCE MARKET BY APPLICATION (2016-2030)
- BUSINESS INTELLIGENCE MARKET SNAPSHOT AND GROWTH ENGINE
- MARKET OVERVIEW
- SUPPLY CHAIN ANALYTIC APPLICATIONS
- Introduction And Market Overview
- Historic And Forecasted Market Size in Value (2016 ā 2030F)
- Historic And Forecasted Market Size in Volume (2016 ā 2030F)
- Key Market Trends, Growth Factors And Opportunities
- Geographic Segmentation Analysis
- CRM ANALYTIC APPLICATIONS
- FINANCIAL PERFORMANCE
- STRATEGY MANAGEMENT
- PRODUCTION PLANNING ANALYTIC OPERATIONS
- BUSINESS INTELLIGENCE MARKET BY INDUSTRY (2016-2030)
- BUSINESS INTELLIGENCE MARKET SNAPSHOT AND GROWTH ENGINE
- MARKET OVERVIEW
- IT AND TELECOMMUNICATIONS
- Introduction And Market Overview
- Historic And Forecasted Market Size in Value (2016 ā 2030F)
- Historic And Forecasted Market Size in Volume (2016 ā 2030F)
- Key Market Trends, Growth Factors And Opportunities
- Geographic Segmentation Analysis
- BANKING
- FINANCE
- SECURITY AND INSURANCE (BFSI)
- HEALTHCARE
- MANUFACTURING
- RETAIL
- COMPANY PROFILES AND COMPETITIVE ANALYSIS
- COMPETITIVE LANDSCAPE
- Competitive Positioning
- BUSINESS INTELLIGENCE Market Share By Manufacturer (2022)
- Industry BCG Matrix
- Heat Map Analysis
- Mergers & Acquisitions
- COMPANYA
- Company Overview
- Key Executives
- Company Snapshot
- Role of the Company in the Market
- Sustainability and Social Responsibility
- Operating Business Segments
- Product Portfolio
- Business Performance (Production Volume, Sales Volume, Sales Margin, Production Capacity, Capacity Utilization Rate)
- Key Strategic Moves And Recent Developments
- SWOT Analysis
- MICROSOFT (USA)
- TABLEAU SOFTWARE (USA)
- SAP (GERMANY)
- ORACLE CORPORATION (USA)
- QLIK TECHNOLOGIES (USA)
- SISENSE (ISRAEL)
- LOOKER (USA)
- DOMO (USA)
- MODE ANALYTICS (USA)
- ZOHO ANALYTICS (INDIA)
- ALTERYX (USA)
- QUALTRICS (USA)
- YELLOWFIN BI (AUSTRALIA)
- BIRST (USA)
- THOUGHTSPOT (USA)
- DOMINO DATA SCIENCE (USA)
- TRIFACTA (CANADA)
- GTMHUB (USA)
- CHARTIO (USA)
- METABASE (USA)
- COMPETITIVE LANDSCAPE
- GLOBAL BUSINESS INTELLIGENCE MARKET BY REGION
- OVERVIEW
- NORTH AMERICA
- Key Market Trends, Growth Factors And Opportunities
- Key Manufacturers
- Historic And Forecasted Market Size By Component
- Historic And Forecasted Market Size By Deployment
- Historic And Forecasted Market Size By Enterprise Size
- Historic And Forecasted Market Size By Application
- Historic And Forecasted Market Size By Industry
- Historic And Forecasted Market Size By Country
- USA
- Canada
- Mexico
- EASTERN EUROPE
- Key Market Trends, Growth Factors And Opportunities
- Key Manufacturers
- Historic And Forecasted Market Size By Segments
- Historic And Forecasted Market Size By Country
- Russia
- Bulgaria
- The Czech Republic
- Hungary
- Poland
- Romania
- Rest Of Eastern Europe
- WESTERN EUROPE
- Key Market Trends, Growth Factors And Opportunities
- Key Manufacturers
- Historic And Forecasted Market Size By Segments
- Historic And Forecasted Market Size By Country
- Germany
- United Kingdom
- France
- The Netherlands
- Italy
- Spain
- Rest Of Western Europe
- ASIA PACIFIC
- Key Market Trends, Growth Factors And Opportunities
- Key Manufacturers
- Historic And Forecasted Market Size By Segments
- Historic And Forecasted Market Size By Country
- China
- India
- Japan
- South Korea
- Malaysia
- Thailand
- Vietnam
- The Philippines
- Australia
- New-Zealand
- Rest Of APAC
- MIDDLE EAST & AFRICA
- Key Market Trends, Growth Factors And Opportunities
- Key Manufacturers
- Historic And Forecasted Market Size By Segments
- Historic And Forecasted Market Size By Country
- Turkey
- Bahrain
- Kuwait
- Saudi Arabia
- Qatar
- UAE
- Israel
- South Africa
- SOUTH AMERICA
- Key Market Trends, Growth Factors And Opportunities
- Key Manufacturers
- Historic And Forecasted Market Size By Segments
- Historic And Forecasted Market Size By Country
- Brazil
- Argentina
- Rest of South America
- INVESTMENT ANALYSIS
- ANALYST VIEWPOINT AND CONCLUSION
- Recommendations and Concluding Analysis
- Potential Market Strategies
Global Business Intelligence Market |
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Base Year: |
2022 |
Forecast Period: |
2023-2030 |
Historical Data: |
2017 to 2022 |
Market Size in 2024: |
USD 41.88 Bn. |
Forecast Period 2024-32 CAGR: |
6.79 % |
Market Size in 2032: |
USD 75.65 Bn. |
Segments Covered: |
By Component |
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By Deployment |
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By Enterprise Size |
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By Application |
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By Industry |
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By Region |
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Key Market Drivers: |
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Key Market Restraints: |
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Key Opportunities: |
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Companies Covered in the report: |
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Frequently Asked Questions :
The forecast period in the Business Intelligence Market research report is 2024-2032.
Microsoft (USA), Tableau Software (USA), SAP (Germany), Oracle Corporation (USA), Qlik Technologies (USA), Sisense (Israel), Looker (USA), Domo (USA), Mode Analytics (USA), Zoho Analytics (India), Alteryx (USA), Qualtrics (USA), Yellowfin BI (Australia), Birst (USA), ThoughtSpot (USA), Domino Data Science (USA), Trifacta (Canada), Gtmhub (USA), Chartio (USA), Metabase (USA) and Other Major Players.
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), Eastern Europe (Bulgaria; The Czech Republic; Hungary; Poland; Romania; Rest of Eastern Europe), Western Europe (Germany; UK; France; Netherlands; Italy; Russia; Spain; Rest of Western Europe), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).
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.
The Global Business Intelligence Market size is expected to grow from USD 41.88 billion in 2022 to USD 75.65 billion by 2030, at a CAGR of 6.79% during the forecast period (2024-2032).