Global Business Intelligence (BI) Software Market Size By Technology, By Tool, By Geographic Scope And Forecast
Business Intelligence (BI) Software Market Size And Forecast
Business Intelligence (BI) Software Market was valued at USD 25.84 Billion in 2019 and is projected to reach USD 53.63 Billion by 2027, growing at a CAGR of 9.56% from 2020 to 2027.
Global Business Intelligence (BI) Software Market Outlook
The increasing adoption of data analytics in the end-use industries to analyze the data and make more informed business decisions is expected to drive demand for the BI software. The market for BI software is majorly driven by the extensive use of e-commerce and an increase in the adoption of data-oriented business models by small, medium, and large organizations. The restaurant chains such as Wendys and Ruby Tuesday are significantly using BI software to enhance customer relations. The BI software enables the companies to implement strategic decisions in a way such that it brings out a positive transformation resulting in high-quality customer service. The driving factor for the BI software market is the growing demand for cloud-based business solutions in SME sectors. On the contrary, significant cost incurred in licensing and installing BI software is expected to pose a challenge to the market growth. Even though the advantages of adopting BI software are plenty, the initial investment of buying suitable BI software, implementing it in the organization, and training the employees on utilizing it is high.
Global Business Intelligence (BI) Software Market Competitive Landscape
The Global Business Intelligence (BI) Software Market study report will provide a valuable insight with an emphasis on global market including some of the major players such as Cloud9 Analytics, Google, IBM Corporation, Microsoft Corporation, Tableau Software, and Oracle Corporation.
Global Business Intelligence (BI) Software Market Segment Analysis
Business Intelligence (BI) Software Market is segmented into Technology, Tool And Geography.
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