DUBLIN, Feb. 11, 2023 /PRNewswire/ — The “Business Intelligence Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 to 2030” report has been added to ResearchAndMarkets.com’s offering.
The global business intelligence market is expected to grow at a CAGR of 9.5% during the forecast period of 2022-2030.
The market is primarily driven by exponential growth in data generation. The increasing amount of data offers new opportunities for business development.
Connecting analytics has resulted into new approaches of customer engagement that is the capability to amplify the skills and intelligence among employees, new services and products and more opportunity to explore the models of business.
360 Degree Analysis Concludes That Retail Industry Leads Among Other Verticals in terms of Market Revenues
Global business intelligence market has been segmented on the basis of application, component, organization size, data type, deployment, verticals. The industry vertical segment is further sub-segmented into manufacturing, healthcare, energy and utility, BFSI, transportation & distribution, IT & telecom, retail, media and entertainment, government and others.
Retail industry market leads the industry vertical segment in terms of revenue in the global business intelligence market with around 17.02 % in 2020. Retailers gather data from their operational and external systems that include financial systems, POS systems, and E-commerce initiatives.
Business intelligence systems enable retail chains to analyze several data sources, helping retailers to answer critical strategic and operational questions associated with customer segmentation and analytics, merchandizing and supply chain efficiency. Further, the growth in the e-commerce market promises great potential for the growth of retail segment over the forecast period.
BI Applications in Manufacturing Industry to Grow Fastest
Manufacturing market is anticipated to be the fastest growing market with a CAGR of 9.9% during the forecast period. The entire manufacturing industry is undergoing a radical change. The adoption of Industry 4.0 initiative that emphasizes on the use of automated machines and use of IOT to efficiently predict failures and autonomously trigger maintenance processes, has given boost to the growth of BI market in manufacturing sector.
Further, adoption of new advanced technologies that include IoT and robotics, efficiency within supply chain network, operational efficiency, and costs are the factors driving the changes. The BI solution in the manufacturing enables efficient operations management, improves supply chain efficiency and offers plenty of other advantages.
BI Applications in Healthcare Promises Significant Opportunities
Manufacturing, retail, healthcare, energy & utilities and BFSI are amongst the emerging applications within global business intelligence market. Healthcare business intelligence market accounts for 11.02% of market share in 2021, with a projected growth at CAGR 9.4% during the forecast period. Healthcare sector specifically pharmaceutical, biopharmaceutical and medical device industry is undergoing change.
The change is a result of patent expiry of key drugs, competition from generic drug versions, stringent regulatory compliance rules, low returns on current product pipelines and increasing drug R&D costs. Healthcare organizations are looking forward as sustainable alternative towards business, streamline the entire manufacturing process and find metrics that provide high return on investment in drugs and medical device research.
North America Holds the Lions Share
Geographically, global business intelligence market has been segmented into North America, Europe, Asia Pacific and Rest of the world (ROW). North America leads the global business intelligence market by capturing largest market share in terms of revenue of 42.5% in 2021.
Growth is majorly driven by the presence of technologically sound infrastructure and key players based in this region such as Microsoft (U.S), Oracle (U.S), SAS (U.S) and others. Also, owing to the presence of highly-developed and technologically-advanced services sector and wide adoption of business intelligence in the service sector, government organization, BFSI and others have positively influenced the business intelligence market.
Furthermore, Asia Pacific is anticipated to grow with the highest CAGR 11.1% during the forecast period, owing to exponential growth in big data generation in the region is also boosting the growth in the market.
Furthermore, Business intelligence market in Asia pacific is driven by presence of large pool of skilled IT professionals, information technology investment initiatives, and high adoption of cloud computing, and increasing IT spending by enterprise across sectors.
M&A – Most Adopted Strategy Leading to Market Expansion
Merger and Acquisition (M&A) is the primary strategy adopted by the companies in global business intelligence market. The companies to increase their dominance and market share acquire other companies that can increase their product portfolio. M&A also enables the companies to expand their market in unexplored regions.
Product launch is the secondary strategy adopted by the companies in the business intelligence market. New and advanced products help to improve company market visibility while competing effectively with the key competitors. Top companies in this market includes SAP, SAS Institute, IBM Corp, Microsoft Corp, Oracle Inc. and others.
Historical & Forecast Period
This study report represents analysis of each segment from 2020 to 2030 considering 2021 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2030.
Key questions answered in this report
What are the key micro and macro environmental factors that are impacting the growth of Business Intelligence market?
What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
Estimated forecast and market projections up to 2030.
Which segment accounts for the fastest CAGR during the forecast period?
Which market segment holds a larger market share and why?
Are low and middle-income economies investing in the Business Intelligence market?
Which is the largest regional market for Business Intelligence market?
What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
Which are the key trends driving Business Intelligence market growth?
Who are the key competitors and what are their key strategies to enhance their market presence in the Business Intelligence market worldwide?
Key Topics Covered:
2. Executive Summary
3. Business Intelligence Market: Competitive Analysis
3.1. Market Positioning of Key Business Intelligence Market Vendors
3.2. Strategies Adopted by Business Intelligence Market Vendors
3.3. Key Industry Strategies
3.4. Tier Analysis 2021 Versus 2030
4. Business Intelligence Market: Macro Analysis & Market Dynamics
4.2. Global Business Intelligence Market Value, 2020 – 2030, (US$ Million)
4.3. Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Key Challenges
4.3.4. Key Opportunities
4.4. Impact Analysis of Drivers and Restraints
4.5. See-Saw Analysis
5. Business Intelligence Market: By Application, 2020-2030, USD (Million)
5.1. Market Overview
5.2. Growth & Revenue Analysis: 2021 Versus 2030
5.3. Market Segmentation
5.3.1. Network Management and Optimization
5.3.2. Operations Management
5.3.3. Predictive Asset Maintenance
5.3.4. Sales and Marketing Management
5.3.5. Supply Chain Optimization
5.3.6. Workforce Management
6. Business Intelligence Market: By Organization Size, 2020-2030, USD (Million)
6.1. Market Overview
6.2. Growth & Revenue Analysis: 2021 Versus 2030
6.3. Market Segmentation
6.3.1. Small and Medium Business
6.3.2. Large Enterprises
7. Business Intelligence Market: By Component, 2020-2030, USD (Million)
7.1. Market Overview
7.2. Growth & Revenue Analysis: 2021 Versus 2030
7.3. Market Segmentation
7.3.2. Service Market
7.3.3. Managed Service
7.3.4. Professional Service
7.3.5. Software Market
8. Business Intelligence Market: By Data Type, 2020-2030, USD (Million)
8.1. Market Overview
8.2. Growth & Revenue Analysis: 2021 Versus 2030
8.3. Market Segmentation
8.3.1. Semi-Structured Data
8.3.2. Structured Data
8.3.3. Unstructured Data
9. Business Intelligence Market: By Deployment, 2020-2030, USD (Million)
9.1. Market Overview
9.2. Growth & Revenue Analysis: 2021 Versus 2030
9.3. Market Segmentation
9.3.1. On Premise
9.3.2. Cloud Based
10. Business Intelligence Market: By End User, 2020-2030, USD (Million)
10.1. Market Overview
10.2. Growth & Revenue Analysis: 2021 Versus 2030
10.3. Market Segmentation
10.3.3. Energy and Utilities
10.3.5. Transportation and Distribution
10.3.6. IT & Telecom
10.3.8. Media & Entertainment
10.3.10. Others (Hospitality)
11. North America Business Intelligence Market, 2020-2030, USD (Million)
12. UK and European Union Business Intelligence Market, 2020-2030, USD (Million)
13. Asia Pacific Business Intelligence Market, 2020-2030, USD (Million)
14. Latin America Business Intelligence Market, 2020-2030, USD (Million)
15. Middle East and Africa Business Intelligence Market, 2020-2030, USD (Million)
16. Company Profile
16.1.1. Company Overview
16.1.2. Financial Performance
16.1.3. Product Portfolio
16.1.4. Strategic Initiatives
16.2. SAS Institute
16.2.1. Company Overview
16.2.2. Financial Performance
16.2.3. Product Portfolio
16.2.4. Strategic Initiatives
16.3. IBM Corp
16.3.1. Company Overview
16.3.2. Financial Performance
16.3.3. Product Portfolio
16.3.4. Strategic Initiatives
16.4. Microsoft Corp
16.4.1. Company Overview
16.4.2. Financial Performance
16.4.3. Product Portfolio
16.4.4. Strategic Initiatives
16.5. Oracle Inc
16.5.1. Company Overview
16.5.2. Financial Performance
16.5.3. Product Portfolio
16.5.4. Strategic Initiatives
For more information about this report visit https://www.researchandmarkets.com/r/pmakk5
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