Business Intelligence Market 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
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.
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 (000’ 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.