Business Intelligence - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Business Intelligence Market is accounted for $21.06 billion in 2019 and is expected to reach $44.16 billion by 2027 growing at a CAGR of 9.7% during the forecast period. Some of the key factors propelling the market growth include growing focus on digital transformation, rising investments in analytics, rising demand for dashboards for data visualization, increase in adoption of cloud, and rise in data generation. However, difficult to justify the ROI of business intelligence is restraining the market growth.
Business intelligence is process which is driven by data analysis and presentation of prosecutable information to help corporate executives to make more expert business decisions. Business intelligence encircled around a wide range of tools, applications and techniques that empower organizations to collect data from both internal and external sources, arrange it for analysis, develop and run queries against the data. The BI accommodates operational data and analytical tool that presents captious information to business users within the organization.
By end user, the banking, financial service, and insurance (BFSI) segment is expected to witness significant growth over the forecast period, owing to the sensitivity of financial data and needs to coordinate with numerous other sectors (stock exchanges, tax authorities, central banks, securities controlling authorities, revenue department, etc.). Improving marketing strategies & customer retention policies, developing new investment strategies, and reducing risks are some of the factors responsible for the adoption of business intelligence by the BFSI vertical.
On the basis of geography, Asia Pacific is expected to emerge as the significant-growing regional market, due to the commercialization of IoT technology and the increasing adoption of advanced technologies in countries such as China, Japan, and India, which are fueling the demand for business intelligence solutions and services. Also, the increasing demand and market for IOT and big data have also provided a more accurate and reliable advantage to the business intelligence market in Asia Pacific region.
Some of the key players in Business Intelligence Market include Cisco Systems Inc., IBM Corporation, Microsoft Corporation, Microstrategy, Inc., Oracle Corporation, Panorama, Pentaho (A Hitachi Company), Qlik Technologies, Rackspace US Inc., SAP SE, SAS Institute Inc., Sisense Inc., Tableau Software, Tibco Software, VMware Inc., and Yellowfin International Pty Ltd.
Deployment Modes Covered:
Business Functions Covered:
• Human Resource
• Data Analytics
• Online Analytical Processing (OLAP)
• Data Mining
• Process and Text Mining
• Complex Event Processing
• Cloud BI
• Mobile BI
• Social BI
• Traditional BI
• Conventional BI
Organization Sizes Covered:
• Small and Medium-sized Enterprises (SMEs)
• Large Enterprises
Data Types Covered:
• Structured Data
• Semi-structured Data
• Unstructured Data
• Supply Chain Optimization
• Workforce Management
• Fraud Detection and Security Management
• Network Management and Optimization
• Predictive Asset Maintenance
• Sales and Marketing Management
• Operations Management
End Users Covered:
• Media and Entertainment
• Transportation and Logistics
• Healthcare and Life Sciences
• Tourism and Hospitality
• Retail & Consumer Goods
• Banking, Financial service, and Insurance (BFSI)
• Telecom and IT
• Government and Public Services
• Business Consulting & Services
• Other End Users
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis, etc.
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
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