USD 19.87 billion
Report ID:
SQMIG45F2060 |
Region:
Global |
Published Date: December, 2024
Pages:
201
|Tables:
176
|Figures:
81
Global Business Intelligence Software Market size was valued at USD 24.80 billion in 2022 and is poised to grow from USD 26.25 billion in 2023 to USD 40.44 billion by 2031, growing at a CAGR of 5.51% during the forecast period (2024-2031).
The world has entered into the age of digital transformation, 89% of businesses have adopted a digital business strategy among which big data, mobile technology and API-embedded tech are the most popular contributing around 50-60% of implementations. Usage of e-commerce together with data-aligned business models by small, medium, and large organizations enables the companies to enact strategic decisions leveraging positive high-quality services. Organizations amid the growth of data-directed analytics and progressions are increasing their expenditures in, business intelligence software, and business intelligence tools which are further paving way for high global business intelligence software market revenue.
US Business Intelligence Software Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 19.87 billion
Largest Segment
HMD
Fastest Growth
HMD
Growth Rate
8.46% CAGR
To get more reports on the above market click here to Buy The Report
Global Business Intelligence Software Market is segmented by BI Technology, Function, Deployment Mode, Organization Size, End Use, and Region. Based on BI Technology, the market is segmented into Cloud BI, Mobile BI, Social BI. Based on Function, the market is segmented into Executive Management, Marketing, Sales, Operations, Finance, Human Resources, Supply Chain. Based on Deployment Mode, the market is segmented into On-premises, Cloud. Based on Organization Size, the market is segmented into Large Enterprises, SMEs. Based on End Use, the market is segmented into BFSI, Manufacturing, Healthcare, Retail, IT & Telecom, Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Cloud business intelligence is expected to have the largest market share in the global business intelligence software market
Using cloud-based systems the expenses for installing specialized software and hardware is minimized. These solutions offer scope for predicted maintenance The data can be accessed from varied sources such as laptops, mobiles, tablets, desktops etc. It allows users the convenience of usage along with offering a dedicated focus on business problems which is expected to project high business intelligence software market revenue.
Another significant surge is expected from social business intelligence. Growing usage of varied applications and software systems for purposes paves way for insightful data availability. Dedicated systems for specialized social activities are enhancing the experiences of customers as well as improving prospects for businesses. Well-oriented healthcare business intelligence systems can be used to provide more personalized treatment to customers and at the same time elevate the experience offered to them with the help of insights generated from datasets. Rapid enhancement in the usage of social media platforms such as Twitter, Facebook, YouTube, Instagram lays scope for the availability of massive consumer data and projects market demand for smart business intelligent systems to manage these data available all across channels.
To get detailed analysis on other segments, Request For Free Sample Report
North America is estimated to dominate the global business intelligence software market in 2021 and it is anticipated to maintain its dominance throughout the forecast period. The region is constantly witnessing the adoption of emerging technologies amid a rising surge of digitally driven innovation. In the year 2020, North America digitalized 60% of its products and services. Various business intelligence applications and software systems have found a significant place in organizations. The insightful data determined decisions in gaining importance and is expected to rise in the upcoming years projecting a high market share in the forecasted period. Cloud BI software in North America is expected to propel the regional growth of the business intelligence software market.
The Asia Pacific region is estimated to appear as a rising market pertaining to the increased adoption of newer technologies for business decisions, and the need to upgrade in a competitive environment. With the growing rise of digitalization and high investment ventures in countries like India and China, several outsourcing firms and services along with enhanced IT- infrastructure are expected to propel the market by high market share and hence pave way for remarkable market revenue in the forecast period.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Business Intelligence Software Market Driver
High acceptance of cloud-based solutions for business decisions is anticipated to boost the global business intelligence software market
Advent rises in consumer online activities likely to push global business intelligence software market forward
Business Intelligence Software Market Restraints
Cost factor related to installation and licensing of BI software is likely to limit the growth of global business intelligence software market
Request Free Customization of this report to help us to meet your business objectives.
To stay competitive in the global business intelligence software industry, market participants are increasingly launching new products and updating existing ones. The businesses are also making significant investments in R&D projects to create cutting-edge BI tools. For instance, Microsoft Corporation spent USD 14.7 billion on R&D in 2018 to create cutting-edge products and services, which helped the business to maintain a competitive edge over its rivals.
Business Intelligence Software Market Top Players Company Profiles
Business Intelligence Software Market Recent Development
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, business intelligence software, as well as rising product launches of cloud-based, AI innovations digitally transforming products and services by key players are expected to raise market pressure over the projection period. Cloud-based systems are expected to experience rapid market growth.
In North America increased activities and initiatives to leverage innovative ways to enhance business decisions are expected to be a valuable resource in the market growth of the global business intelligence software market over the forecast period.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 24.80 billion |
Market size value in 2031 | USD 40.44 billion |
Growth Rate | 5.51% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
|
Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
Business Intelligence Software Market Recent Development
|
Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Business Intelligence Software Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Business Intelligence Software Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Business Intelligence Software Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Business Intelligence Software Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
Report ID: SQMIG45F2060
sales@skyquestt.com
USA +1 351-333-4748