Global Business Intelligence Market size was valued US$ XX Bn. in 2019 and the total revenue is expected to grow at 12.3% through 2020 to 2027, reaching nearly US$ XX Bn.
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Global Business Intelligence Market Definition:
Business Intelligence (BI) is a technology determined process for analyzing and presenting actionable data to aid corporate end-users to make informed business decisions. BI contains infrastructure applications, and tools, and best practices that allow access to and analysis of information to support informed business decisions.
Global Business Intelligence Market Dynamics:
The use of Business Intelligence (BI) to process big data continues to be a major focus among vendors and users. The future of IoT and big data is one of the major factors that fuel the use of the cloud in accessing BI and analytics. Likewise, as more work continues to be done outside the traditional workplace, the worldwide demand for mobile business intelligence capabilities continues to grow, as most studies indicate. Business intelligence analysis has been enhanced through the use of predictive and prescriptive analytics tools. Estimating, graph analysis, and complex event processing techniques are used to improve the decision-making process.
The high resistance and cost of implementation in BI adoption are the major factors hampering the BI market globally. The initial cost may include the prices for the numerous of the license which the business will be needed or may need to add in the future and also the cost of hardware which will be essential to run the solution properly. The BI tool is hard for users of non-technical business to use individually and it does not help the right people to do their jobs better. The report contains detailed information about factors that will drive and restrain the growth of the business intelligence market.
Global Business Intelligence Market Ongoing Trend:
The report covers all the trends and technologies playing a major role in the growth of the business intelligence market over 2020-2027. Trends that have clearly increased in significance compared to last year include active BI development and advanced analytics and analytics teams. While agile BI development is connected to a revolutionized cooperative approach between lines of business and Information Technology, advanced analytics expresses the need for businesses to use data in a more beneficial way. Also, advanced analytics contains ML, which is tightly interconnected to many hyped use cases in the sphere of AI.
BI Software venders by market share 2019:
Global Business Intelligence Market1
Global Business Intelligence Market Segmentation:
By industry vertical, the Banking, Financial Services, and Insurance (BFSI) segment was valued at USD XX Mn. in 2019 and is expected to reach USD XX Mn. by 2027 at a CAGR of XX% during the forecast period. BI helps financial institutions monitor customer-facing resources, like sales teams and tellers and come up with solutions using advanced analytics to avoid discrepancies. BI allows financial organizations to analyze huge amounts of customer data to gain insights about the clients regarding banking, which can be used to expand products and services. The report will provide an accurate prediction of the contribution of the various market segments to the growth of the BI market size.
Global Business Intelligence Market Regional Analysis:
The report offers a brief analysis of the major regions in the business intelligence market, such as APAC, Europe, North America, South America, and the MEA. North America region is expected to account for the largest XX% market share by 2027. North America dominates the BI market in terms of technology-based solutions. Equipped with a vast commercial colony driven by native investments and FDI, this America region is leveraging the provisions delivered by BI tool. With the US consuming a substantial BI market share, North America accounted for X5% of the global business intelligence market demand in 2019.
Top IAAS Platform Preferred by BI Venders 2019:
Global Business Intelligence Market2
Global Business Intelligence Market Competitive Landscape:
The competitive landscape section in the business intelligence market provides a deep dive into the profiles of the leading companies operating in the global market landscape. It offers captivating insights on the recent developments, differential strategies, and other vital aspects about the key players having a stronghold in the business intelligence market. In June 2019, Google Company announced the acquisition of Looker, a unified platform for BI, data applications, and embedded analytics, for US$ 2.6 Bn. afterwards the completion of the acquisition, Looker will join Google Cloud.
The objective of the report is to present a comprehensive analysis of the Global Business Intelligence Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Business Intelligence Market dynamics, structure by analyzing the market segments and projects the Global Business Intelligence Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Business Intelligence Market make the report investor’s guide.
Scope of the Global Business Intelligence Market: Inquire before buying
Global Business Intelligence Market, By Component
Global Business Intelligence Market, By Data Type
Global Business Intelligence Market, By Application
• Predictive asset maintenance
• Fraud detection and security management
• Supply chain optimization
• Network management and optimization
• Workforce management
• Sales and marketing management
• Operations management
Global Business Intelligence Market, By Organization Size
• Small and medium-sized enterprises
• Large enterprises
Global Business Intelligence Market, By Deployment Model
Global Business Intelligence Market, By Industry Vertical
• Banking, Financial Services, and Insurance (BFSI)
• Telecommunications and IT
• Retail and consumer goods
• Healthcare and life sciences
• Government and defense
• Energy and utilities
• Media and entertainment
• Transportation and logistics
Global Business Intelligence Market, By Region
• Asia Pacific
• North America
• Latin America
• Middle East Africa
Key players operating in the Global Business Intelligence Market
• Microsoft Corporation
• International Business Machines Corporation
• SAP SE
• Oracle Corporation
• Tableau Software
• SAS Institute
• Pentaho (A Hitachi Company)
• Qlik Technologies
• MicroStrategy, Inc.
• Information Builders
• Tibco Software
• Google LLC
• Yellowfin International Pty Ltd
• Sisense Inc.
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