According to the report published by IndustryARC titled “Business Intelligence Market - Industry Analysis, Market Size, Share, Trends,Application Analysis, Growth and Forecast 2019 - 2025,” the market is expected to reach $30.91 billion by 2025
Browse 87 Market Tables, and 35 Figures spread through 188 Pages and go through an in-depth TOC on “Business Intelligence Market”
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According to a recent study from IndustryARC, the Business Intelligence market is forecast to reach $30.91 billion by 2025 and is estimated to grow at a CAGR of 8.3% during the forecast period 2019-2025. The growth of the Business Intelligence market can be attributed to the rise of advanced applications in the manufacturing sector.
The market for Business Intelligence is all set to exhibit robust development with a broad range of applications introduced in the manufacturing industry. The manufacturing industry is predicted to account for more than 12.5% of the worldwide demand for Business Intelligence solutions by 2025. With the growth of IoT, the data generated and requirement for business intelligence solutions are further expected to increase. Growing emphasis towards the use of business intelligence solutions which helps organizations or manufacturers in making improved business decision skills with accurate and absolute analysis.
North America was the largest region for Business Intelligence across the globe with revenue of $5.98 billion in 2018. In Americas, the demand for this market has grown tremendously especially in manufacturing due to the technological advancements and early adoption of business intelligence solutions. North America is the leading player in the development and implementation of new technologies such as AI (Artificial Intelligence). The implementation of new technologies is driven by the requirement of tracking data patterns to track the performance of the business and take strategically informed decisions. The APAC region is expected to be the fastest growing region as it includes many manufacturing industries that will help increase the demand for business intelligence market during the forecast period. The integration of information and rapid changes in the business environment for a better performance management are some of the key driving factors for the growth of the market.
The Major Players in this Market Include
- Sisense Inc
- Tableau Software
- TIBCO Software Inc
- Yellowfin International Pty Ltd
- Microsoft Corp
- Oracle Corp
- SAP SE
Business Intelligence vendors have utilized mergers and acquisitions as well as product launches as a strategy and enhanced core competencies through additions to product portfolio to gain a foothold in the emerging markets. The end-user industries covered in the Business Intelligence Market report include:
- Telecommunications & It
- Retail & Consumer Goods
- Healthcare & Life Sciences
- Government & Defense
- Energy & Utilities
- Transportation & Logistics
- Media & Entertainment
The overall market is also presented from the perspective of different geographic regions and the key countries for this industry. Competitive landscape for each of the product types is highlighted and market players are profiled.
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About IndustryARC: IndustryARC is a research and consulting firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare.