The global business intelligence and analytics market is estimated to be valued at US$ 24.2 billion in 2018 and is expected to exhibit a CAGR of 9.6 % over the forecast period (2019-2027), as highlighted in a new report published by Coherent Market Insights.
Business intelligence and analytics are two new buzzwords in the world of business today. Business intelligence is the study of how people, their activities, and their interactions affect the productive and potential growth of a business. Business intelligence and analytics solutions are implemented in enterprises or companies to collect present and historical data, while using software and statistics to analyze raw information and deliver insights for making better future decisions. With the help of business intelligence and analytics, one can evaluate business goals and customer behavior to address issues. Analytics and business intelligence is an umbrella term that includes the applications, tools, and best practices that enable access to and analysis of information to improve and optimize decisions and performance.
Major players operating in the global business intelligence and analytics market are: SAP AG, IBM Corporation, Information Builders, Microstrategy, Inc., Qlik Technologies, SAS Institute, Tableau Software, Inc., Tibco Software, and Oracle Corporation, and among others.
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Key Market Drivers:
Increasing requirement for real time data analysis in various organizations is expected to propel growth of the business intelligence and analytics market over the forecast period. For instance, in July 2021, Zoho Corp launched a business intelligence platform infused with AI to make it simpler for end users to construct and share analytics via visual dashboards that let them launch queries against data using either graphical tools or the Zia conversational AI platform.
Moreover, increasing number of cyber-attacks and increasing demand for or adoption of cloud-based business intelligence and analytics is expected to fuel growth of the business intelligence and analytics market. For instance, July 25, 2019 CYFIRMA announced the launch of cloud-based Cyber Intelligence Analytics Platform (CAP) v2.0. CYFIRMA, using its proprietary AI and machine learning algorithms, helps organizations to unravel cyber risks, threats, and enable proactive cyber posture management.
Geographically, the report examines production, consumption, revenue, market share, growth rate, and forecasts for the following regions:
North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
The Middle East and Africa (Saudi Arabia, United Arab Emirates, Turkey, Egypt, South Africa, Nigeria)
COVID-19 Impact Analysis:
As the outbreak of COVID-19 rages on, companies around the world are relying more on data business intelligence and analytics to weather the storm. For example, in March 2020, IBM developed a new interactive global dashboard to show the spread of COVID-19. The dashboard is designed to give the general public, researchers, and even government officials’ detailed, localized, and current information about the spread of COVID-19.
Some of the important questions answered in this report include:
What are the top five Business Intelligence and Analytics Market players?
What will the Business Intelligence and Analytics Market look like in the following years?
Which product and application will dominate the Business Intelligence and Analytics Market?
What are the Business Intelligence and Analytics Market’s drivers and restraints?
Which regional market will represent the highest growth?
What will be the CAGR and market size of the Business Intelligence and Analytics Market over the forecast period?
What is the present market size, what will it be in 2029, and what will be the growth rate?
What are the constraints to market growth?
What market opportunities and risks do the key companies face?
Who are the main competitors, and what is their strategic approach?
What are the market’s entry challenges for new players?
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Detailed TOC of Business Intelligence and Analytics Market Forecast Report:
1 Business Intelligence and Analytics Market Overview
1.1 Product Overview and Scope of Business Intelligence and Analytics Market
1.2 Segment by Type
1.3 Global Segment by Application
1.4 Global Market, Region Wise (2017-2022)
1.5 Global Market Size of Business Intelligence and Analytics Market (2017-2029)
2 Global Business Intelligence and Analytics Market Landscape by Player
2.1 Global Business Intelligence and Analytics Market Sales and Share by Player (2017-2022)
2.2 Global Revenue and Market Share by Player (2017-2022)
2.3 Global Average Price by Player (2017-2022)
2.4 Global Gross Margin by Player (2017-2022)
2.5 Manufacturing Base Distribution, Sales Area and Product Type by Player
2.6 Market Competitive Situation and Trends
3 Business Intelligence and Analytics Market Upstream and Downstream Analysis
3.1 Industrial Chain Analysis
3.2 Key Raw Materials Suppliers and Price Analysis
3.3 Key Raw Materials Supply and Demand Analysis
3.4 Manufacturing Process Analysis
3.5 Market Concentration Rate of Raw Materials
3.6 Downstream Buyers
3.7 Value Chain Status Under COVID-19
4 Business Intelligence and Analytics Market Manufacturing Cost Analysis
4.1 Manufacturing Cost Structure Analysis
4.2 Business Intelligence and Analytics Market Key Raw Materials Cost Analysis
4.3 Labor Cost Analysis
4.4 Energy Costs Analysis
4.5 RandD Costs Analysis
5 Market Dynamics
5.2 Restraints and Challenges
5.3.1 Advances in Innovation and Technology for Business Intelligence and Analytics Market
5.3.2 Increased Demand in Emerging Markets
5.4 Business Intelligence and Analytics Market Industry Development Trends under COVID-19 Outbreak
5.4.1 Global COVID-19 Status Overview
5.4.2 Influence of COVID-19 Outbreak on Business Intelligence and Analytics Market Industry Development
5.5 Consumer Behavior Analysis
6 Research Findings and Conclusion
7.2 Research Data Source
Market Segment Analysis:
Global Business Intelligence and Analytics Market, By Deployment Model:
Global Business Intelligence and Analytics Market, By Platform:
Business intelligence platform
Corporate performance management suite
Advance and predictive analytics
Global Business Intelligence and Analytics Market, By Service:
Global Business Intelligence and Analytics Market, By Organization Size:
Small and Medium Enterprises
Global Business Intelligence and Analytics Market, By Verticals:
Energy and Power
Media and Entertainment
IT and Telecom
The business intelligence and analytics market is expected to exhibit a CAGR of 9.6 % during the forecast period due to the increasing popularity of mobile business intelligence and analytics. For instance, in May 2021, Incorta announced the launch of Incorta Mobile. Incorta Mobile gives customers a new way to access, view, and analyze business data from anywhere. It offers the ability to drill-down into specific transaction details as well.
Among regions, North America and Asia Pacific are expected to witness robust growth in the business intelligence and analytics market owing to the increasing adoption of business intelligence and analytics solutions, increasing data volume, increasing demand of cloud-based solutions, increasing demand for advanced business intelligence and analytics, and availability of functional specific business intelligence and analytics solutions.
For instance, in January 2022, Information Services Group (ISG) announced the launch of ISG Executive Insights, a market intelligence and data analytics platform that addresses the challenges of managing increasingly complex supplier ecosystems. ISG Executive Insights solution leverages ISG’s market-leading data to help enterprises make smarter decisions, optimize supplier ecosystem performance.
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Coherent Market Insights is a global market intelligenceand consulting organization, focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 32 countries worldwide. We are uniquely positioned to help businesses around the globe deliver practical and lasting results through various recommendations about operational improvements, technologies, emerging market trends and new working methods. We pride ourselves in catering to clients across the length and width of the horizon, from Fortune 500 enlisted companies, to not-for-profit organization, and start-ups looking to establish a foothold in the market. We meticulously study emerging trends across various industries at both the global and regional levels to identify new opportunities for our clientele.
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