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Global Business Intelligence (BI) Market to reach USD 49.88 billion by the end of 2029.

Global Business Intelligence (BI) Market Size study & Forecast, by Component (Solution, Services), By Deployment (On-Premises, Cloud), By Application (Supply Chain Analytic Applications, CRM Analytic Operations, Financial Performance and Strategy Management, Production Planning Analytic Operations, Others), By Enterprise Size (Large Enterprises, SMEs), By Vertical (BFSI, IT and Telecommunication, Retail and Consumer Goods, Manufacturing, Healthcare, Others), and Regional Analysis, 2022-2029

Product Code: ICTEITS-64494949
Publish Date: 2-05-2023
Page: 200

Global Business Intelligence (BI) Market is valued at approximately USD 24.85 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 9.1% over the forecast period 2022-2029. Business intelligence (BI) is a procedural and technical framework for storing, collecting, and analyzing data produced by an organization’s operations. It includes performance benchmarking, data mining, descriptive analysis, and process analysis. The need for these solutions in the market is increased by the growing emphasis that businesses are placing on strategic decision-making, insightful data, quick and accurate reporting, and increased productivity. The surging demand for dashboards for data visualization to enhance the ability in making business decisions, coupled with the increasing adoption of data analytics by enterprises are the key driving factors for global market growth.

In addition, the rising adoption of connected devices and the emergence of IoT-enabled technologies is further fueling the market demand. According to a report by DHS, 86% of the owners and operators of critical infrastructure in high-tech industries have deployed cloud solutions. The report has revealed the spending of different sectors on critical infrastructure using cloud services; there is an increase expected from USD 152 billion in 2020 to USD 223 billion by 2025. Consequentially, the growing demand for cloud and associated technologies devices is directly associated with the growth of the Business Intelligence (BI) Market. Furthermore, the increasing usage of integrated BI systems, as well as the rising growth in data generation are presenting various lucrative opportunities over the forecasting years. However, the high investment costs for on-premise solutions and the lack of skilled professionals are hindering market growth over the forecast period of 2022-2029.

The key regions considered for the Global Business Intelligence (BI) Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America dominated the market in terms of revenue, owing to rapid developments in automation and digitization, rising focus on new innovations and advancement, along with the increasing presence of leading market players across the region. Whereas, Asia Pacific is also expected to grow at the highest growth rate over the forecasting period. Factors such as the growing investment in business intelligence solutions, increasing government initiatives to enhance IT & telecommunication, as well as the rising awareness of embedded BI solutions are burgeoning the market growth in the forecasting years.

Major market players included in this report are:
Microsoft Corporation (U.S.)
Tableau Software, LLC (Salesforce) (U.S.)
IBM Corporation (U.S.)
QlikTech International AB (U.S.)
SAP SE (Germany)
Oracle Corporation (U.S.)
Redash (Databricks) (Israel)
Mode Analytics Inc. (U.S.)
Looker (Google) (U.S.)
Infor (U.S.)
Recent Developments in the Market:
Ø In January 2023, Microsoft announced the integration of Power BI in Microsoft Teams for improved customer experiences. The three new features are updated heritage Power BI tabs for Channels 2.0, rich broadcast cards for Chat in Microsoft Teams, and listening to and learning from user experiences and requirements.
Ø In December 2022, Tableau announced that the company introduced its upgraded Tableau 2022.4 for business users and analysts with the objective of exploring insights. It automates the production, examination, and transmission of insights using data stories including Data Change Radar, Data Guide, and Explain the Viz.

Global Business Intelligence (BI) Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Component, Deployment, Application, Enterprise Size, Vertical, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Component:
By Deployment:
By Application:
Supply Chain Analytic Applications
CRM Analytic Operations
Financial Performance and Strategy Management
Production Planning Analytic Operations
By Enterprise Size:
Large Enterprises
By Vertical:
IT and Telecommunication
Retail and Consumer Goods
By Region:
North America
Asia Pacific
South Korea
Latin America
Rest of the World

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
1.2.1. Business Intelligence (BI) Market, by Region, 2019-2029 (USD Billion)
1.2.2. Business Intelligence (BI) Market, by Component, 2019-2029 (USD Billion)
1.2.3. Business Intelligence (BI) Market, by Deployment, 2019-2029 (USD Billion)
1.2.4. Business Intelligence (BI) Market, by Application, 2019-2029 (USD Billion)
1.2.5. Business Intelligence (BI) Market, by Enterprise Size, 2019-2029 (USD Billion)
1.2.6. Business Intelligence (BI) Market, by Vertical, 2019-2029 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Business Intelligence (BI) Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Business Intelligence (BI) Market Dynamics
3.1. Business Intelligence (BI) Market Impact Analysis (2019-2029)
3.1.1. Market Drivers Rising adoption of connected devices and the emergence of IoT-enabled technologies Surging demand for dashboards for data visualization
3.1.2. Market Challenges High investment costs for on-premise solutions Lack of skilled professionals
3.1.3. Market Opportunities Increasing usage of integrated BI systems Rising growth in data generation
Chapter 4. Global Business Intelligence (BI) Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Futuristic Approach to Porter’s 5 Force Model (2019-2029)
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. Industry Experts Prospective
4.7. Analyst Recommendation & Conclusion
Chapter 5. Risk Assessment: COVID-19 Impact
5.1. Assessment of the overall impact of COVID-19 on the industry
5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Business Intelligence (BI) Market, by Component
6.1. Market Snapshot
6.2. Global Business Intelligence (BI) Market by Component, Performance – Potential Analysis
6.3. Global Business Intelligence (BI) Market Estimates & Forecasts by Component 2019-2029 (USD Billion)
6.4. Business Intelligence (BI) Market, Sub Segment Analysis
6.4.1. Solution
6.4.2. Services
Chapter 7. Global Business Intelligence (BI) Market, by Deployment
7.1. Market Snapshot
7.2. Global Business Intelligence (BI) Market by Deployment, Performance – Potential Analysis
7.3. Global Business Intelligence (BI) Market Estimates & Forecasts by Deployment 2019-2029 (USD Billion)
7.4. Business Intelligence (BI) Market, Sub Segment Analysis
7.4.1. On-Premises
7.4.2. Cloud
Chapter 8. Global Business Intelligence (BI) Market, by Application
8.1. Market Snapshot
8.2. Global Business Intelligence (BI) Market by Application, Performance – Potential Analysis
8.3. Global Business Intelligence (BI) Market Estimates & Forecasts by Application 2019-2029 (USD Billion)
8.4. Business Intelligence (BI) Market, Sub Segment Analysis
8.4.1. Supply Chain Analytic Applications
8.4.2. CRM Analytic Operations
8.4.3. Financial Performance and Strategy Management
8.4.4. Production Planning Analytic Operations
8.4.5. Others
Chapter 9. Global Business Intelligence (BI) Market, by Enterprise Size
9.1. Market Snapshot
9.2. Global Business Intelligence (BI) Market by Enterprise Size, Performance – Potential Analysis
9.3. Global Business Intelligence (BI) Market Estimates & Forecasts by Enterprise Size 2019-2029 (USD Billion)
9.4. Business Intelligence (BI) Market, Sub Segment Analysis
9.4.1. Large Enterprises
9.4.2. SMEs
Chapter 10. Global Business Intelligence (BI) Market, by Vertical
10.1. Market Snapshot
10.2. Global Business Intelligence (BI) Market by Vertical, Performance – Potential Analysis
10.3. Global Business Intelligence (BI) Market Estimates & Forecasts by Vertical 2019-2029 (USD Billion)
10.4. Business Intelligence (BI) Market, Sub Segment Analysis
10.4.1. BFSI
10.4.2. IT and Telecommunication
10.4.3. Retail and Consumer Goods
10.4.4. Manufacturing
10.4.5. Healthcare
10.4.6. Others
Chapter 11. Global Business Intelligence (BI) Market, Regional Analysis
11.1. Business Intelligence (BI) Market, Regional Market Snapshot
11.2. North America Business Intelligence (BI) Market
11.2.1. U.S. Business Intelligence (BI) Market Component breakdown estimates & forecasts, 2019-2029 Deployment breakdown estimates & forecasts, 2019-2029 Application breakdown estimates & forecasts, 2019-2029 Enterprise Size breakdown estimates & forecasts, 2019-2029 Vertical breakdown estimates & forecasts, 2019-2029
11.2.2. Canada Business Intelligence (BI) Market
11.3. Europe Business Intelligence (BI) Market Snapshot
11.3.1. U.K. Business Intelligence (BI) Market
11.3.2. Germany Business Intelligence (BI) Market
11.3.3. France Business Intelligence (BI) Market
11.3.4. Spain Business Intelligence (BI) Market
11.3.5. Italy Business Intelligence (BI) Market
11.3.6. Rest of Europe Business Intelligence (BI) Market
11.4. Asia-Pacific Business Intelligence (BI) Market Snapshot
11.4.1. China Business Intelligence (BI) Market
11.4.2. India Business Intelligence (BI) Market
11.4.3. Japan Business Intelligence (BI) Market
11.4.4. Australia Business Intelligence (BI) Market
11.4.5. South Korea Business Intelligence (BI) Market
11.4.6. Rest of Asia Pacific Business Intelligence (BI) Market
11.5. Latin America Business Intelligence (BI) Market Snapshot
11.5.1. Brazil Business Intelligence (BI) Market
11.5.2. Mexico Business Intelligence (BI) Market
11.5.3. Rest of Latin America Business Intelligence (BI) Market
11.6. Rest of The World Business Intelligence (BI) Market

Chapter 12. Competitive Intelligence
12.1. Top Market Strategies
12.2. Company Profiles
12.2.1. Microsoft Corporation (U.S.) Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
12.2.2. Tableau Software, LLC (Salesforce) (U.S.)
12.2.3. IBM Corporation (U.S.)
12.2.4. QlikTech International AB (U.S.)
12.2.5. SAP SE (Germany)
12.2.6. Oracle Corporation (U.S.)
12.2.7. Redash (Databricks) (Israel)
12.2.8. Mode Analytics Inc. (U.S.)
12.2.9. Looker (Google) (U.S.)
12.2.10. Infor (U.S.)
Chapter 13. Research Process
13.1. Research Process
13.1.1. Data Mining
13.1.2. Analysis
13.1.3. Market Estimation
13.1.4. Validation
13.1.5. Publishing
13.2. Research Attributes
13.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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