Business Intelligence Market Size, Share, Growth, Trends, and Forecast by 2031

MARKET INTRODUCTION

Business intelligence (BI) converts raw information into meaningful data through a set of processes, technologies, and architectures. These technologies include dashboards, data warehouses, data discovery tools, and ad hoc reporting, among others. BI drives profitable business decisions through actionable insights and knowledge. Natural language processing (NLP), artificial intelligence (AI), automation, and data governance are some emerging trends in the business intelligence market. Major market vendors are focusing on constant innovations and development to stay competitive in the market.

MARKET DYNAMICS

The business intelligence market is expected to soar in the forecast period owing to high growth in advanced analytics and increasing adoption of data-driven decision making. Also, the emergence of IoT enabled technologies is propelling the growth of the business intelligence market. However, there are some challenging factors such as lack of skilled workforce and management of data quality which are obstructing the market growth during the forecast period. On the other hand, the rapid adoption by SMEs is likely to offer creative growth prospects to vendors active in the business intelligence market.

MARKET SCOPE

The "Global Business Intelligence Market Analysis to 2031" is a specialized and in-depth study of the technology, media and telecommunications industry with a special focus on the global market trend analysis. The report aims to provide an overview of business intelligence market with detailed market segmentation by component, deployment, application, organization size, industry vertical, and geography. The global business intelligence market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading business intelligence market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

The global business intelligence market is segmented on the basis of component, deployment, application, organization size, and industry vertical. By component, the market is segmented as solution and services. Based on deployment, the market is segmented as cloud-based and on-premise. By application, the market is segmented as predictive asset maintenance, supply chain optimization, operations management, sales and marketing management, fraud detection and security management, and others. On the basis of the organization size, the market is segmented as large enterprises and small and medium-sized enterprises. The market on the basis of the industry vertical is classified as BFSI, IT & telecommunications, manufacturing, government & defense, energy and utilities, retail & consumer goods, media & entertainment, and others.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global business intelligence market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The business intelligence market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting business intelligence market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South & Central America after evaluating political, economic, social and technological factors affecting the business intelligence market in these regions.

MARKET PLAYERS

The reports cover key developments in the business intelligence market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market players from business intelligence market are anticipated to lucrative growth opportunities in the future with the rising demand for business intelligence in the global market. Below mentioned is the list of few companies engaged in the business intelligence market.

The report also includes the profiles of key business intelligence companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of the last three years, key developments in the past five years.

- IBM Corporation
- Information Builders
- Microsoft Corporation
- Oracle Corporation
- QlikTech International AB
- SAP SE
- SAS Institute Inc.
- Sisense Inc.
- TIBCO Software Inc.
- Yellowfin International Pty Ltd

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Business Intelligence Report Scope