Proliferation of Internet of Things, increased investment in Big Data infrastructure development, growth of small & medium enterprises, and expanding cloud infrastructure are the key factors driving the growth of the global business intelligence market. Business Intelligence is an advanced analytical solution for data analysis and data visualization to develop actionable insights from raw data. The data is collected, analyzed, and presented to the decision makers to formulate data driven decisions. Adoption of appropriate business intelligence tool helps corporate decision makers to arrive at profitable strategic business decisions, improve productivity, gain competitive advantage, spot problems, identify market trends, and accelerate business growth. Expansion of Big Data and Cloud solutions and proliferation of connected devices has resulted in generating huge quantum of data associated with a business process and an organization. This has led the technology leaders to develop and implement advanced and effective solutions to segregate and analyze huge quantum of data for improved decision making. The data associated with business processes is increasing significantly across several industries. For instance, expansion of the e-commerce industry has fueled the adoption of business intelligence tools to understand consumer behavior, product demand, and design strategies for increased profit margins. Rising adoption of business intelligence solutions across expanding small and medium enterprises to understand market trends, competition and design business plan accordingly is contributing towards the growth of the global business intelligence market. With rising investment in advancement of business intelligence solutions, the global business intelligence market is expected to grow significantly during the forecast period.
North America contributed a dominating share to the global business intelligence market and is anticipated to witness prominent growth during the forecast period owing to increasing adoption of business intelligence tools across several industry verticals such as healthcare, energy & utility, IT & Telecommunication and so on. Increased investment in development and adoption of Big Data and Cloud solutions across the United States and expanding Internet of Things, and Industrial Internet of Things network is anticipated to contribute towards the growth of the North America business intelligence market during the forecast period. Asia Pacific is expected to be the fastest growing region during the forecast period owing to rapid adoption of digital solutions and expansion of commercial and industrial sectors.
Business Intelligence Market Share Analysis, by Geography (2019)
The report titled “Business Intelligence Market – Global Market Share, Trends, Analysis and Forecasts, 2020-2030” offers market estimates for a period 2018 to 2030, wherein 2018 is historic period, 2019 is the base year, and 2020 to 2030 is forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the global business intelligence market. Furthermore, the report would reflect the key developments, global & regional sales network, business strategies, research & development activities, employee strength, and key executive, for all the major players operating in the market.
The global business intelligence market is segmented based on technology, tools, deployment, organization size, end use industry, and geography. Based on technology, the global business intelligence market is segmented into cloud business intelligence, mobile business intelligence, social business intelligence, and traditional business intelligence. Based on tools, the global business intelligence market is segmented into dashboards & scoreboards, OLAP & visualization tools, predictive analysis, query, reporting & search tools, and others. Based on deployment, the global business intelligence market is segmented into hosted and on-premise. Based on organization size, the global business intelligence market is segmented into large enterprise, and small and medium enterprises (SME). Based on end use industry, the global business intelligence is segmented into IT & telecommunication, BFSI, healthcare, manufacturing, government, and others. Based on geography, the global business intelligence market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
The research provides in-depth analysis of prominent players holding majority share of the global market with a focus on all operating business segment and would identify the segment of the company focusing on business intelligence. Further, market share of prominent companies in the global business intelligence market would also be estimated. the study takes into consideration the key competitive information such as business strategy, product portfolio, key development, swot analysis, and research and development focus of all the business intelligence companies.
The global business intelligence market study would take into consideration the participants engaged throughout the ecosystem of the market, along with their contribution. Product portfolio would focus on all the products under the business intelligence business segment of the company. Similarly, the recent development section would focus on the latest developments of company such as strategic alliances and partnerships, merger and acquisition, new product launched and geographic expansion in the global business intelligence market.
Major players active in the global business intelligence market include Cloud9 Analytics, Google LLP, IBM, Informatica, Microsoft, Oracle Corporation, QlikTech International AB, SAP SE, SAS Institute, Inc., and Tableau Software.