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Business Intelligence Market Share, Growth & Forecast [2031]

Business Intelligence Market

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Segments - by Components (Solutions and Services), Deployment models (Cloud and On-premise), Enterprise Sizes (Small & Medium Enterprises (SME) and Large Enterprises), Applications (Supply Chain Optimization, Financial Performance & Strategy Management, Workforce Management, CRM Analytic Applications, Fraud Detection & Security Management, and Others), End-users (BFSI, IT & Telecommunications, Healthcare, Media & Entertainment, Government & Defense, Retail & Consumer Goods, and Others), and Regions (Asia Pacific, North America, Latin America, Europe and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031

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Report Description

Business Intelligence Market Outlook

The global business intelligence market size was valued at around USD 22.96 Billion in 2022 and is likely reach to USD 63.67 Billion by 2031, expanding at a CAGR of 12% during the forecast period, 2023 – 2031. The growth of the market is attributed to the emergence of big data and the rising need of making critical business decisions within a short period of time.

Business intelligence refers to technical and procedural infrastructure that collects, stores, and analyzes historical and current data and gather actionable insights to facilitate organizations, enterprises, and companies to in making strategic decisions.

Business intelligence tools process large data across multiple sources, and then, present findings and solutions in visual formants, which are easy to understand and share.

Business intelligence technologies include online analytical processing, dashboard development, data mining, process mining, business performance management, text mining, reporting, analytics, prescriptive analytics, predictive analytics, benchmarking, complex event processing, and others.

Data intelligence follows four key steps to transform data. First, it collects data from several sources. Second, it discovers trends and inconsistencies. Third, it uses data visualization to report findings.

Fourth, it enables companies to take actions based on the insights provided by data intelligence tools and software. Data intelligence enables companies real time adjustments and changes to improve their business performance.

Business Intelligence Market Trends, Drivers, Restraints, and Opportunities

Increasing demand for data visualization tools for business analytics is expected to drive the market during the forecast period.
Growing usage of big data analytics, data mining, predictive analytics, text mining, and statistical analytics is projected to boost the market in the coming years.
Rising awareness regarding business intelligence tools and their benefits such as accelerating decision-making, improving revenue growth, enhancing internal business process, and others fuel the market.
Growing trend of integrating advanced analytics for Big Data into business intelligence systems is anticipated to boost the market.
Limited number of experts, professionals, and consulting analysts for business intelligence hinders the growth of the market.
Increasing cost of deploying business intelligence infrastructure hampers the growth of the market.
Rising need of creating insights from unused data and embedded business intelligence offer growth opportunities to the key market players.

Scope of Business Intelligence Market Report

The report on the global business intelligence market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes	Details
Report Title	Business Intelligence Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2022
Historic Data	2016–2021
Forecast Period	2023–2031
Segmentation	Components (Solutions and Services), Deployment models (Cloud and On-premise), Enterprise Sizes (Small & Medium Enterprises (SME) and Large Enterprises), Applications (Supply Chain Optimization, Financial Performance & Strategy Management, Workforce Management, CRM Analytic Applications, Fraud Detection & Security Management, and Others), and End-users (BFSI, IT & Telecommunications, Healthcare, Media & Entertainment, Government & Defense, Retail & Consumer Goods, and Others)
Regional Scope	Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report	Microsoft Corporation; geniSIGHTS, Pvt. Ltd.; Cisco Systems, Inc.; International Business Machines Corporation (IBM); SAP SE; Rackspace Technology; Oracle Corporation; Google LLC; Amazon Web Services, Inc.; Salesforce, Inc.; DOMO, Inc.; TIBCO Software, Inc.; MicroStrategy Incorporated; Board International S.A.; TARGIT A/S; vPhrase Analytics Solutions, Pvt. Ltd.; Yellowfin; Pentation Analytics, Pvt. Ltd.; and Others

Business Intelligence Market Segment Insights

Component Segment Analysis

In terms of components, the market is bifurcated into solutions and services. The solutions segment is expected to boost the market during the forecast period, as business intelligence solutions aid enterprises, organizations, and companies to track historical and real-time business performance and derive actionable insights from it. Increasing integration of artificial intelligence-based analytics solutions in business intelligence aids in the expansion of the market in the coming years.

Deployment Models Segment Analysis

Based on deployment models, the market is divided into cloud and on-premise. The cloud segment is estimated to drive the market during the forecast period, as it aids enterprises expand the usage of networking, storage, tools, and analytical capabilities.

With cloud-based business intelligence, enterprises and organizations can outsource business intelligence infrastructure to increase their productivity, reduce operational cost, and optimize implementation timelines. This factor facilitates the expansion of the segment.

Enterprise Sizes Segment Analysis

On the basis of enterprise sizes, the market is segmented into small & medium enterprises (SME) and large enterprises. The small & medium enterprises segment is projected to expand at a rapid rate, due to increasing adoption of business intelligence tools for smooth functioning, optimizing resources, and continuous evaluations by SMEs.

The large enterprises segment is anticipated to expand during the projected period, owing to availability of IT infrastructure, extended online analytical processing capabilities, and substantial investment in business intelligence tools.

Applications Segment Analysis

In terms of applications, the market is segregated into supply chain optimization, financial performance & strategy management, workforce management, CRM analytic applications, fraud detection & security management, and others.

The financial performance & strategy management segment is anticipated to expand at a significant CAGR during the forecast period, as business intelligence facilitates enterprises and organizations to test multiple business scenarios and form business strategies based on those scenarios. It aids in increasing forecasting accuracy of enterprises and organizations, which expand the segment further.

End-Users Segment Analysis

On the basis of end-users, the market is divided into BFSI, IT & telecommunications, healthcare, media & entertainment, government & defense, retail & consumer goods, and others. The BFSI segment is expected to drive the market during the forecast period, owing to the sensitivity of financial data.

Rising adoption of data analytics, growing adoption of cloud-based business intelligence among small & medium enterprises, and improved business intelligence tools are key factors aid in the expansion of the segment.

Business Intelligence Market Regional Analysis

Based on regions, the market is segmented into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in North America is expected to register a high CAGR during the forecast period, due to the presence of several key players in the region.

The rapid development and adoption of technologies, rising competition, and increasing data proliferation are the key factors that drive the market in North America. The market in Asia Pacific is anticipated to increase adoption of advanced technologies, IoT, and big data in countries such as India, Japan, and China, which spurs the demand for business intelligence services and solutions.

Segments

Components

Solutions
Services

Deployment models

Cloud
On-premise

Enterprise Sizes

Small & Medium Enterprises (SME)
Large Enterprises

Applications

Supply Chain Optimization
Financial Performance & Strategy Management
Workforce Management
CRM Analytic Applications
Fraud Detection & Security Management
Others

End-users

BFSI
IT & Telecommunications
Healthcare
Media & Entertainment
Government & Defense
Retail & Consumer Goods
Others

Regions

Asia Pacific
North America
Latin America
Europe
Middle East & Africa

Key Players

Microsoft Corporation
geniSIGHTS, Pvt. Ltd.
Cisco Systems, Inc.
International Business Machines Corporation (IBM)
SAP SE
Rackspace Technology
Oracle Corporation
Google LLC
Amazon Web Services, Inc.
Salesforce, Inc.
DOMO, Inc.
TIBCO Software, Inc.
MicroStrategy Incorporated
Board International S.A.
TARGIT A/S
vPhrase Analytics Solutions, Pvt. Ltd.
Yellowfin
Pentation Analytics, Pvt. Ltd.
Others

Competitive Landscape

The global business market is competitive with the presence of key players such as Microsoft Corporation; geniSIGHTS, Pvt. Ltd.; Cisco Systems, Inc.; International Business Machines Corporation (IBM); SAP SE; Rackspace Technology; Oracle Corporation; Google LLC; Amazon Web Services, Inc.; Salesforce, Inc.; DOMO, Inc.; TIBCO Software, Inc.; MicroStrategy Incorporated; Board International S.A.; TARGIT A/S; vPhrase Analytics Solutions, Pvt. Ltd.; Yellowfin; Pentation Analytics, Pvt. Ltd.; and others, who use business strategies such as acquisitions, mergers, product launches, collaborations, and partnerships to strengthen their hold on the market. For example,

In July 2020, Rackspace Technology collaborated Amazon Web Services, Inc. to expand their services globally.

In June 2020, International Business Machines Corporation launched Watson Works, which to aid companies in navigating several aspects of return-to-workplace challenge after the lockdowns due to the COVID-19 situation.

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Business Intelligence Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Business Intelligence Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Business Intelligence Market - Supply Chain
  4.5. Global Business Intelligence Market Forecast
     4.5.1. Business Intelligence Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Business Intelligence Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Business Intelligence Market Absolute $ Opportunity
5. Global Business Intelligence Market Analysis and Forecast by Applications
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Applications
     5.2.2. Y-o-Y Growth Projections by Applications
  5.3. Business Intelligence Market Size and Volume Forecast by Applications
     5.3.1. Supply Chain Optimization
     5.3.2. Financial Performance & Strategy Management
     5.3.3. Workforce Management
     5.3.4. CRM Analytic Applications
     5.3.5. Fraud Detection & Security Management
     5.3.6. Others
  5.4. Absolute $ Opportunity Assessment by Applications
  5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Business Intelligence Market Analysis and Forecast by End Users
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by End Users
     6.2.2. Y-o-Y Growth Projections by End Users
  6.3. Business Intelligence Market Size and Volume Forecast by End Users
     6.3.1. BFSI
     6.3.2. IT & Telecommunications
     6.3.3. Healthcare
     6.3.4. Media & Entertainment
     6.3.5. Government & Defense
     6.3.6. Retail & Consumer Goods
     6.3.7. Others
  6.4. Absolute $ Opportunity Assessment by End Users
  6.5. Market Attractiveness/Growth Potential Analysis by End Users
7. Global Business Intelligence Market Analysis and Forecast by Region
  7.1. Market Trends
  7.2. Introduction
     7.2.1. Basis Point Share (BPS) Analysis by Region
     7.2.2. Y-o-Y Growth Projections by Region
  7.3. Business Intelligence Market Size and Volume Forecast by Region
     7.3.1. North America
     7.3.2. Latin America
     7.3.3. Europe
     7.3.4. Asia Pacific
     7.3.5. Middle East and Africa (MEA)
  7.4. Absolute $ Opportunity Assessment by Region
  7.5. Market Attractiveness/Growth Potential Analysis by Region
  7.6. Global Business Intelligence Demand Share Forecast, 2019-2026
8. North America Business Intelligence Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
  8.2. North America Business Intelligence Market Size and Volume Forecast by Country
     8.2.1. U.S.
     8.2.2. Canada
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. North America Business Intelligence Market Size and Volume Forecast by Applications
     8.4.1. Supply Chain Optimization
     8.4.2. Financial Performance & Strategy Management
     8.4.3. Workforce Management
     8.4.4. CRM Analytic Applications
     8.4.5. Fraud Detection & Security Management
     8.4.6. Others
  8.5. Basis Point Share (BPS) Analysis by Applications
  8.6. Y-o-Y Growth Projections by Applications
  8.7. North America Business Intelligence Market Size and Volume Forecast by End Users
     8.7.1. BFSI
     8.7.2. IT & Telecommunications
     8.7.3. Healthcare
     8.7.4. Media & Entertainment
     8.7.5. Government & Defense
     8.7.6. Retail & Consumer Goods
     8.7.7. Others
  8.8. Basis Point Share (BPS) Analysis by End Users
  8.9. Y-o-Y Growth Projections by End Users
  8.10. Market Attractiveness/Growth Potential Analysis
     8.10.1. By Country
     8.10.2. By Product Type
     8.10.3. By Application
  8.11. North America Business Intelligence Demand Share Forecast, 2019-2026
9. Latin America Business Intelligence Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Latin America Average Pricing Analysis
  9.2. Latin America Business Intelligence Market Size and Volume Forecast by Country
      9.2.1. Brazil
      9.2.2. Mexico
      9.2.3. Rest of Latin America
   9.3. Absolute $ Opportunity Assessment by Country
  9.4. Latin America Business Intelligence Market Size and Volume Forecast by Applications
     9.4.1. Supply Chain Optimization
     9.4.2. Financial Performance & Strategy Management
     9.4.3. Workforce Management
     9.4.4. CRM Analytic Applications
     9.4.5. Fraud Detection & Security Management
     9.4.6. Others
  9.5. Basis Point Share (BPS) Analysis by Applications
  9.6. Y-o-Y Growth Projections by Applications
  9.7. Latin America Business Intelligence Market Size and Volume Forecast by End Users
     9.7.1. BFSI
     9.7.2. IT & Telecommunications
     9.7.3. Healthcare
     9.7.4. Media & Entertainment
     9.7.5. Government & Defense
     9.7.6. Retail & Consumer Goods
     9.7.7. Others
  9.8. Basis Point Share (BPS) Analysis by End Users
  9.9. Y-o-Y Growth Projections by End Users
  9.10. Market Attractiveness/Growth Potential Analysis
     9.10.1. By Country
     9.10.2. By Product Type
     9.10.3. By Application
  9.11. Latin America Business Intelligence Demand Share Forecast, 2019-2026
10. Europe Business Intelligence Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Europe Average Pricing Analysis
  10.2. Europe Business Intelligence Market Size and Volume Forecast by Country
     10.2.1. Germany
     10.2.2. France
     10.2.3. Italy
     10.2.4. U.K.
     10.2.5. Spain
     10.2.6. Russia
     10.2.7. Rest of Europe
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Europe Business Intelligence Market Size and Volume Forecast by Applications
     10.4.1. Supply Chain Optimization
     10.4.2. Financial Performance & Strategy Management
     10.4.3. Workforce Management
     10.4.4. CRM Analytic Applications
     10.4.5. Fraud Detection & Security Management
     10.4.6. Others
  10.5. Basis Point Share (BPS) Analysis by Applications
  10.6. Y-o-Y Growth Projections by Applications
  10.7. Europe Business Intelligence Market Size and Volume Forecast by End Users
     10.7.1. BFSI
     10.7.2. IT & Telecommunications
     10.7.3. Healthcare
     10.7.4. Media & Entertainment
     10.7.5. Government & Defense
     10.7.6. Retail & Consumer Goods
     10.7.7. Others
  10.8. Basis Point Share (BPS) Analysis by End Users
  10.9. Y-o-Y Growth Projections by End Users
  10.10. Market Attractiveness/Growth Potential Analysis
     10.10.1. By Country
     10.10.2. By Product Type
     10.10.3. By Application
  10.11. Europe Business Intelligence Demand Share Forecast, 2019-2026
11. Asia Pacific Business Intelligence Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Asia Pacific Average Pricing Analysis
  11.2. Asia Pacific Business Intelligence Market Size and Volume Forecast by Country
     11.2.1. China
     11.2.2. Japan
     11.2.3. South Korea
     11.2.4. India
     11.2.5. Australia
     11.2.6. Rest of Asia Pacific (APAC)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Asia Pacific Business Intelligence Market Size and Volume Forecast by Applications
     11.4.1. Supply Chain Optimization
     11.4.2. Financial Performance & Strategy Management
     11.4.3. Workforce Management
     11.4.4. CRM Analytic Applications
     11.4.5. Fraud Detection & Security Management
     11.4.6. Others
  11.5. Basis Point Share (BPS) Analysis by Applications
  11.6. Y-o-Y Growth Projections by Applications
  11.7. Asia Pacific Business Intelligence Market Size and Volume Forecast by End Users
     11.7.1. BFSI
     11.7.2. IT & Telecommunications
     11.7.3. Healthcare
     11.7.4. Media & Entertainment
     11.7.5. Government & Defense
     11.7.6. Retail & Consumer Goods
     11.7.7. Others
  11.8. Basis Point Share (BPS) Analysis by End Users
  11.9. Y-o-Y Growth Projections by End Users
  11.10. Market Attractiveness/Growth Potential Analysis
     11.10.1. By Country
     11.10.2. By Product Type
     11.10.3. By Application
  11.11. Asia Pacific Business Intelligence Demand Share Forecast, 2019-2026
12. Middle East & Africa Business Intelligence Market Analysis and Forecast
  12.1. Introduction
     12.1.1. Basis Point Share (BPS) Analysis by Country
     12.1.2. Y-o-Y Growth Projections by Country
     12.1.3. Middle East & Africa Average Pricing Analysis
  12.2. Middle East & Africa Business Intelligence Market Size and Volume Forecast by Country
     12.2.1. Saudi Arabia
     12.2.2. South Africa
     12.2.3. UAE
     12.2.4. Rest of Middle East & Africa (MEA)
  12.3. Absolute $ Opportunity Assessment by Country
  12.4. Middle East & Africa Business Intelligence Market Size and Volume Forecast by Applications
     12.4.1. Supply Chain Optimization
     12.4.2. Financial Performance & Strategy Management
     12.4.3. Workforce Management
     12.4.4. CRM Analytic Applications
     12.4.5. Fraud Detection & Security Management
     12.4.6. Others
  12.5. Basis Point Share (BPS) Analysis by Applications
  12.6. Y-o-Y Growth Projections by Applications
  12.7. Middle East & Africa Business Intelligence Market Size and Volume Forecast by End Users
     12.7.1. BFSI
     12.7.2. IT & Telecommunications
     12.7.3. Healthcare
     12.7.4. Media & Entertainment
     12.7.5. Government & Defense
     12.7.6. Retail & Consumer Goods
     12.7.7. Others
  12.8. Basis Point Share (BPS) Analysis by End Users
  12.9. Y-o-Y Growth Projections by End Users
  12.10. Market Attractiveness/Growth Potential Analysis
     12.10.1. By Country
     12.10.2. By Product Type
     12.10.3. By Application
  12.11. Middle East & Africa Business Intelligence Demand Share Forecast, 2019-2026
13. Competition Landscape
  13.1. Global Business Intelligence Market: Market Share Analysis
  13.2. Business Intelligence Distributors and Customers
  13.3. Business Intelligence Market: Competitive Dashboard
  13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     13.4.1. Microsoft Corporation
     13.4.2. geniSIGHTS, Pvt. Ltd.
     13.4.3. Cisco Systems, Inc.
     13.4.4. International Business Machines Corporation (IBM)
     13.4.5. SAP SE
     13.4.6. Rackspace Technology
     13.4.7. Oracle Corporation
     13.4.8. Google LLC
     13.4.9. Amazon Web Services, Inc.
     13.4.10. Salesforce, Inc.

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FAQ Section

Some frequently asked questions about this report!

1. Who are the key players in the global business intelligence market?

Microsoft Corporation; geniSIGHTS, Pvt. Ltd.; Cisco Systems, Inc.; International Business Machines Corporation (IBM); SAP SE; Rackspace Technology; Oracle Corporation; Google LLC; and Amazon Web Services, Inc. are some of the key players in the market.

2. Which region dominates the global business intelligence market?

North America dominates the global business intelligence market.

3. What is business intelligence?

Business intelligence refers to technical and procedural infrastructure that collects, stores, and analyzes historical and current data and gather actionable insights to facilitate organizations, enterprises, and companies to in making strategic decisions.