Global Business Intelligence Market
The Global Business Intelligence Market was valued at USD 17.15 billion in 2016 and is projected to reach USD 147.19 billion by 2025, growing at a CAGR of 26.98% from 2017 to 2025.
Business Intelligence (BI) refers to technologies, applications and practices for the collection, integration, analysis, and presentation of business information. BI encompasses a wide variety of tools, that enable organizations to collect data from internal systems and external sources, prepare it for analysis, develop and run queries against that data, and create reports for better decision making process. Benefits of business intelligence include - improve efficiency, better inventory management, identify new revenue opportunities, and get insights to make accurate and timely business decisions.
1. Market Drivers
1.1 High return on investment
1.2 Rising adoption by small and medium businesses
1.3 Advancements in IoT enabled technologies
1.4 Increasing adoption of data driven decision making
1.5 Increasing need for advanced analytics
1.6 Adoption of embedded BI
1.7 Rising need to create insights from unused data
2. Market Restraints
2.1 Lack of technical expertise
2.2 Issues with management and maintenance of data quality
2.3 Changing regulation policies
2.4 High investment costs
The Global Business Intelligence Market is segmented on the data type, organization size, component, deployment model, application, vertical, and region.
1. Data Type:
2. Organization Size:
2.1 Large Enterprises
2.2 Small and Medium Organizations
3. By Component:
3.3.1 Managed services
3.3.2 Professional services
220.127.116.11 Support and maintenance services
18.104.22.168 Deployment and integration
22.214.171.124 Consulting services
4. By Deployment Mode:
5. By Application:
5.1 Sales and marketing management
5.2 Operations management
5.3 Predictive asset maintenance
5.4 Network management and optimization
5.5 Supply chain optimization
5.6 Fraud detection and security management
5.7 Workforce management
6. By Vertical:
6.2 Government and Defense
6.3 IT and Telecom
6.4 Banking, Financial Services, and Insurance (BFSI)
6.5 Transportation and Logistics
6.6 Retail Consumer Goods
7. By Region:
7.1 North America (U.S., Canada, Mexico)
7.2 Europe (Germany, UK, France, Rest of Europe)
7.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
7.4 Latin America (Brazil, Argentina, Rest of Latin America)
7.5 Middle East & Africa
The major players in the market are as follows:
1. IBM Corporation
2. SAP SE
3. Oracle Corporation
4. Information Builders
5. Pentaho (A Hitachi Company)
6. Tableau Software
7. Sisense Inc.
8. Microstrategy, Inc.
10. Microsoft Corporation
11. Yellowfin International Pty Ltd
12. Tibco Software
13. Qlik Technologies
14. SAS Institute
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Global Business Intelligence Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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