Analytics And Business Intelligence Platforms Market
Analytics And Business Intelligence Platforms Market size was valued at USD 31.39 Billion in 2022 and is projected to reach USD 72.32 Billion by 2030, growing at a CAGR of 8.45% from 2023 to 2030.
Executives, managers, and other professionals can benefit from analytical information provided by business intelligence (BI) and analytics tools to comprehend emerging industry trends. Businesses can confidentially survey their own operations with the help of business intelligence, which compiles a list of their strengths and areas for improvement. The goal of business intelligence is to use information to guide decisions that increase revenue. Business intelligence and analytics software is widely used in major firms, but due to its advantages, small and medium-sized businesses are also on the lookout for investments in this software.
Managers, executives, and other corporate end users can view and evaluate the stored information with the use of business intelligence (BI) and analytics software, which also assists them in designing reports and facilitating decision-making. Increasing demand for real-time data analysis, expanding cloud adoption, and rising IoT device installation are some of the key factors propelling the global business intelligence and analytics software market. Additionally, growing adoption of business intelligence and analytic tools by small and medium-sized enterprises (SMEs) are creating growth opportunities in the business intelligence and analytics market globally. These SMEs are also generating increased demand for data analysis to understand consumer demand and market trends.
Market Overview
Increased need for dashboards for information perception in order to improve the ability to make business decisions is the main market driver. The majority of Business Intelligence Market Trends organisations now receive a worked-on measure that entails locating, gathering, monitoring, and transmitting a lot of information. The target market is anticipated to rise as a result of the quick development of new technologies like stream mining, in-memory analytics, and in-database analytics, which offer real-time analytics for fraud detection and customer interactions. The installation of Internet of Things devices is becoming more and more popular among consumers, and this is assisting the growth of the global industry. Another element anticipated to promote the business intelligence market’s expansion is
Market Drivers
Rapid technical advancements in recent years have fueled the expansion of big data analytics and cloud computing. Because cloud computing can store both structured and unstructured data, it is regarded as the best platform for BI applications. Similar to that, big data technology has made it possible for this tool to analyse a lot of data and offer businesses insightful information that will help them spot possibilities and enhance their marketing plans. Consequently, during the time of the evaluation, the market will develop. For instance, Google Company revealed in June 2019 that it had paid US$ 2.6 billion for Looker, a unified platform for business intelligence, data applications, and embedded analytics. Following the completion of the transaction, Looker will join Google Cloud.
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Global Analytics and Business Intelligence Platforms Market: Major Players
• Amazon
• Google
• Infor
• Panorama
• Yellowfin
• SAP
• SAS
• MicroStrategy
• Microsoft
• Qlik
• Salesforce
• Domo
• Zoho
• Oracle
• Tableau
• Sisense
• Dundas
• TIBCO Software
Global Analytics and Business Intelligence Platforms Market: By Types
• Cloud
• On-Premise
Global Analytics and Business Intelligence Platforms Market: By Applications
• BFSI
• Education
• Manufacturing
• Telecom & IT
• Others
Global Analytics and Business Intelligence Platforms Market: Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global Analytics and Business Intelligence Platforms market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.
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Key Questions Answered in This Report:
• How has the global Market performed so far and how will it perform in the coming years?
• What are the key regional Markets?
• What has been the impact of COVID-19 on the global Market?
• What is the breakup of the Market based on the type?
• What is the breakup of the Market based on the application?
• What is the breakup of the Market based on the manufacturing process?
• What is the breakup of the Market based on the price range?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the global Market and who are the key players?
• What is the degree of competition in the industry?
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