Business Intelligence Market, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2022-2030

Business Intelligence Market 2022-2030

The global business intelligence market size is expected to reach USD 43.03 billion by 2028, exhibiting a CAGR of 8.7% during the forecast period. The market stood at USD 22.26 billion in 2020 and reached USD 24.05 billion in 2021. Rapid digitization, the emergence of several online businesses, and the strong demand for data personalization are expected to boost the market’s growth. Fusion Market Research™ mentions this information in its report titled “Business Intelligence Market, 2021-2028

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In the rapidly evolving technological era, enterprises have to adopt BI platforms to derive data-driven decisions for efficient business operations. The enterprises are maintaining an equilibrium between physical and digital competencies to create new business models. Real-time data from smart devices, the internet of things (IoT), combined with historical data, big data analytics, and artificial intelligence is expected to surge the demand for the data analytics software across enterprises.

The report offers detailed coverage of Business Intelligence industry and main market trends with impact of coronavirus. The market research includes historical and forecast market data, demand, application details, price trends, and company shares of the leading Business Intelligence by geography. The report splits the market size, by volume and value, on the basis of application type and geography.

List of Key Players Profiled in this Market Report

  • Microsoft Corporation (Washington, U.S.)
  • Tableau Software, LLC (Salesforce) (Washington, U.S.)
  • IBM Corporation (New York, U.S.)
  • SAS Institute Inc. (North Carolina, U.S.)
  • SAP SE (Walldorf, Germany)
  • Oracle Corporation (California, U.S.)
  • Sisense Inc.  (Pennsylvania, U.S.)
  • Domo, Inc. (Utah, U.S.)
  • Yellowfin International Pty Ltd (Melbourne, Australia)
  • Infor (Birst) (New York, U.S.)

Based on the type of product, the global Business Intelligence market segmented into
On-premises
Cloud
Public cloud
Private cloud
Hybrid cloud

Based on the end-use, the global Business Intelligence market classified into
SMEs
Large Enterprises
Government Organizations

Table of Contents

1 RESEARCH SCOPE
1.1 Research Product Definition
1.2 Research Segmentation
1.2.1 Product Type
1.2.2 Main product Type of Major Players
1.3 Demand Overview
1.4 Research Methodology

2 GLOBAL Business Intelligence INDUSTRY
2.1 Summary about Business Intelligence Industry

2.2 Business Intelligence Market Trends
2.2.1 Business Intelligence Production & Consumption Trends
2.2.2 Business Intelligence Demand Structure Trends
2.3 Business Intelligence Cost & Price

3 MARKET DYNAMICS
3.1 Manufacturing & Purchasing Behavior in 2020
3.2 Market Development under the Impact of COVID-19
3.2.1 Drivers
3.2.2 Restraints
3.2.3 Opportunity
3.2.4 Risk

Continue…

COVID-19 IMPACT

The spread of the novel coronavirus has caused disruptions across various industries. The global health crisis has resulted in economic downturns and supply chain disruptions, which, in turn, severely hampered business investments. However, the crisis has provided a chance to deploy advanced analytics to enhance decision making. Market players are offering advanced visualization dashboards to help users to get the real-time status of the Coronavirus. For instance, Dundas Data Visualization, Inc. developed real-time dashboards from Dundas BI. Similarly, Microsoft’s Power BI is working with the USAFacts organization to empower the users to visualize and interact with the COVID-19 dataset. Hence, data visualization dashboards are expected to observe unprecedented demand in the near future.

DRIVING FACTORS

Cloud computing, and big data analytics have been gaining traction in recent years due to rapid technological advancements. Cloud computing is regarded as an ideal platform to provide BI applications, as it serves as a repository for structured and unstructured data. Similarly, big data technology has enabled this tools to analyze a large amount of data to deliver actionable insights to businesses that help them understand opportunities and improve marketing techniques. Social media has brought a paradigm shift in the operational strategies of businesses. It has generated a huge amount of data from several media channels by driving the need for this solutions to analyze the data. Hence, the proliferating use of social media and other internet services such as over-the-top services and e-commerce that generate a large volume of heterogeneous data is likely to amplify the market size.

Industry Development

  • January 2021: SAP SE completed the acquisition of Signavio GmbH to merge its Business Process Intelligence unit with Signavio’s portfolio to improve SAP’s services.