Business Intelligence Market, Driven by Big Data and Advanced Analytics Adoption
Key Market Dynamics:
Drivers: The utilization of BI to process big data remains a central focus, with the future of IoT and big data acting as catalysts for cloud-based BI and analytics adoption. The increasing demand for mobile business intelligence capabilities, especially as work extends beyond traditional workplaces, further propels market growth. Predictive and prescriptive analytics tools, incorporating estimating, graph analysis, and complex event processing, enhance decision-making processes.
Restraints: Despite the positive trajectory, the BI market faces resistance and high implementation costs. Initial costs involve licensing fees and essential hardware expenses, making it a challenge for non-technical business users. The difficulty for integration among various analytics software, BI, Master Data Management (MDM), big data, and analytics applications poses another hurdle.
Business Intelligence Market Overview:
MMR published the Business Intelligence market report. The report analyses the Business Intelligence market growth during the forecast period of 2024-2030. The report also insights into market value, growth rate, market segments, geographical coverage, market players and their recent developments.
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Business Intelligence Market Report Scope and Research Methodology:
The Business Intelligence market report covers an in-depth analysis of key developments, marketing strategies, supply-side and demand-side indicators, and company profiles of market leaders, potential players, and new entrants. The report is based on primary and secondary research methodologies and provides a comprehensive analysis of the global alginates & derivatives market.
Business Intelligence Market Segmentation:
by Component
Platform
Software
Services
by Data Type
Unstructured
Semi-structured
Structured
by Application
Predictive asset maintenance
Fraud detection and security management
Supply chain optimization
Network management and optimization
Workforce management
Sales and marketing management
Operations management
Others
by Organization Size
Small and medium-sized enterprises
Large enterprises
by Deployment Model
On-premises
On-demand
by Industry Vertical
Banking, Financial Services, and Insurance (BFSI)
Telecommunications and IT
Retail and consumer goods
Healthcare and life sciences
Manufacturing
Government and defense
Energy and utilities
Media and entertainment
Transportation and logistics
Others
The Banking, Financial Services, and Insurance (BFSI) sector vertical was valued at USD 24.82 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) to USD 44.28 billion by 2029. Financial organisations use BI to keep an eye on resources that interact with customers, such as sales teams and tellers, and use advanced analytics to identify problems and prevent inconsistencies. Financial institutions can leverage business intelligence (BI) to examine vast volumes of consumer data and learn more about their customers' banking needs, leading to the development of new goods and services. The study will offer a precise estimation of how each market segment will contribute to the expansion of the BI market size.
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Business Intelligence Market Key Players are:
1. SAS Institute
2. Microsoft Corporation
3. International Business Machines Corporation
4. SAP SE
5. Oracle Corporation
6. Tableau Software
7. Pentaho (A Hitachi Company)
8. Qlik Technologies
9. MicroStrategy, Inc.
10.Information Builders
11.Tibco Software
12.Google LLC
13.Yellowfin International Pty Ltd
14.Sisense Inc.
15.Panorama
16.Actuate
17.Alteryx
18.Board International
19.Datawatch
20.GoodData
21.Pyramid Analytics
22.Salient Management Company
Key questions answered in Business Intelligence Market are:
- What is the expected Business Intelligence market size by 2030?
- What is the growth rate of the Business Intelligence Market?
- Which are the factors expected to drive the Business Intelligence market growth?
- Which segment dominated the Business Intelligence market growth?
- Which region held the largest share in the Business Intelligence market?
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Key Offerings:
- Past Market Size and Competitive Landscape
- Past Pricing and price curve by region
- Market Size, Share, Size & Forecast by different segment
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
Business Intelligence Market Regional Insights:
The report provides insights into the Business Intelligence market across regions, including North America, Europe, Asia Pacific, South America, and the Middle East and Africa. The Asia Pacific region is expected to lead the Business Intelligence market due to the growing demand for Business Intelligence in various applications, particularly in China, Japan, and India.
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