Business intelligence (BI) is gaining enormous prominence for a few years, as the most essential decision-making tool in the organization. As per the findings of an IndustryARC study, the global business intelligence market value touched $17 billion in 2018. And, the demand is expected to grow at a compound annual growth rate (CAGR) of 9.00% during the forecast period of 2019 to 2025. Rapid change in the integration of information and the business environment are the major driving factors for the growth of the business intelligence market.
The report, titled “Business Intelligence Market – By Organization
(Large Enterprise, SMEs); Industry (Manufacturing, Retail & Consumer Goods,
Government & Defense); Geography and Forecast 2019-2025,” states that the substantial driving factors
for the business
intelligence market development are the growth of advanced analytics, increasing adoption
of cloud, emergence of IoT-enabled technologies, and the adoption of
data-driven decision making. It is being observed that there is a rapid
transformation in the market after the adoption of advanced BI.
Global Business Intelligence (BI) Market: Leading Segments
North America accords for the largest share in the business intelligence market owing to the increasing investments and expenditure made by various indigenous companies and the potential investors from different sectors. It is observed that the U.S contributes the most due to the early adoption of BI solutions, technological advancement, and opportunities across other verticals. However, North America had a regional share of 35% as of 2018, which is one-fifth of the rest of the world’s contribution.
Furthermore, the leading application segment of the BI market is the manufacturing sector, the demand of which is projected to increment superlatively at a CAGR of 14.00% during the aforementioned forecast period. Moreover, the most data-intensive industry is manufacturing, and BI provides massive potential by utilizing the data in the most useful and fruitful way.
Global Business Intelligence (BI) Market: Disruptive Trends
Master Data and Data Quality Management
Owing to technological advancement, the business units are adopting BI globally. The top- rated trend in the market is master data and data quality management. This in cooperation with BI has initiated a continuous program of enhancing the quality of data and also assist the process of data integration of any data-driven company.
Data Discovery Business Intelligence
Apart from manufacturing, IT users, vendors, and consultants attach a lot of importance to data discovery. This trend is effectively and efficiently adopted by countries such as France, Northern Europe, and South America. The high demand for data discovery in BI has increased data usage.
Self-Service Business Intelligence
This is the third most emerging trend in the market. The companies now prefer to carry out the tasks by themselves instead of passing it on to IT for fulfillment. The objective behind this is to give more responsibility and freedom to the user. This has created an increasing demand for the business intelligence market.
Global Business Intelligence (BI) Market: Competitive Landscape
Some of the key companies identified in the report that are currently holding majority shares in the global business intelligence market are Tibco Software, Yellowfin International Pty Ltd, Microsoft Corp., Sisense Inc., Tableau Software, Oracle Corp., Qlik Technologies, and SAP SE.
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What can you expect from the
The business intelligence market report is prepared with the main agenda to cover the following 20 points:
1. Market Size by Product Categories
& Application 11. Demand
Analysis (Revenue & Volume)
2. Market trends & Relevant Market Data 12. Country level Analysis
3. Manufacturer Landscape 13. Competitor Analysis
4. Distributor Landscape 14. Market Shares Analysis
5. Pricing Analysis 15. Value Chain Analysis
6. Top 10 End user Analysis 16. Supply Chain Analysis
7. Product Benchmarking 17. Strategic Analysis
8. Product Developments 18. Current & Future Market Landscape Analysis
9. Mergers & Acquisition Analysis 19. Opportunity Analysis
10. Patent Analysis 20. Revenue and Volume Analysis
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