Business Intelligence Market Forecasts to 2028 – Global Analysis By Component (Services, Solutions and Other Components), Deployment Mode (On- Premises and Cloud), Organization Size (Small and Medium-Sized Enterprises (SMEs), Large Enterprises), Data Type

Business Intelligence Market Forecasts to 2028 – Global Analysis By Component (Services, Solutions and Other Components), Deployment Mode (On- Premises and Cloud), Organization Size (Small and Medium-Sized Enterprises (SMEs), Large Enterprises), Data Type (Semi-Structured Data, Unstructured Data and Structured Data), Business Function (Finance, Human Resource and Others), Technology (Cloud BI, Mobile BI & Social BI), Application, End User and Geography

According to Stratistics MRC, the Global Business Intelligence Market is accounted for $27.27 billion in 2022 and is expected to reach $50.20 billion by 2028 growing at a CAGR of 10.7% during the forecast period. Business intelligence (BI) is a technique for analysing data and providing employees, managers, and leaders with useful information so they can make better business decisions. As part of the BI process, businesses gather data from a variety of IT systems, prepare it for analysis, run queries on the data, and create data visualisations, BI presentations, and reports to present the analytical findings to corporate clients for tactical and strategic decision-making.

According to NCRB Report, There have been 4,047 online banking fraud cases in 2021, which amounts to 1,384 trillion rupees.

Market Dynamics:

Driver:

Rising demand for dash boards for data visualization

The majority of businesses use a streamlined method that entails locating, gathering, keeping up with, and disseminating a lot of data. For this data, BI solutions are employed in order to have a quick and easy business decision-making process. In order to discover client preferences and tendencies, extract strategic insights, and help maintain a balance between the demand and supply of new and existing goods and services, the data should be made available with a standard visualisation capability. Businesses from all industries use data visualisation tools to easily analyse their data and gain valuable business insights. Cloud-based data visualisation tools give businesses a scalable and affordable approach to analyse their data. Through BI solutions, the data visualisation capabilities aids businesses in identifying business drivers and key performance indicators (KPIs). By removing extraneous data, it makes it easier to find patterns, insights, trends, and utilisation tactics that may be used to accelerate the market's growth.

Restraint:

Hard to justify the ROI of BI

Even though there are many advantages to deploying business intelligence, there are still significant upfront costs associated with finding the right business intelligence platform or software, putting it in place in organisations, and then maintaining it and teaching staff how to use it. Enterprise-wide business applications do not include embedded analytics, predictive analytics, or prescriptive analytics. BI tools won't become obsolete anytime soon because they are still in the early phases of their maturation cycle. Budget is the main factor taken into account when businesses invest in new tools and technologies. SMEs' top concern when using business intelligence is the cost. The exorbitant expenses of acquiring the necessary software deter SMEs. Additionally, a lack of resources makes it difficult and dangerous to hire experienced experts in data science, IT infrastructure, and consultancy analysis. Worries about the high infrastructure costs required for the deployment of business intelligence tools add to these barriers.

Opportunity:

Cloud computing and big data to have a greater impact on BI solutions

Rapid technical breakthroughs have led to the growth of big data analytics and cloud computing in recent years. Given that it acts as a storage facility for both structured and unstructured data, cloud computing is regarded as the ideal platform for BI applications. Similar to this, big data technology has made it possible for these tools to evaluate a significant quantity of data and provide organisations with actionable insights that aid them in understanding opportunities and enhancing marketing strategies.

Threat:

Data integration

Software's customers and users are defined by a number of factors, integration being one of them. Professionals may access all the data in an integrated system thanks to end-to-end integration. However, business intelligence and analytics companies confront a significant issue with integration. Due to the significant benefits offered, cloud-based business intelligence solutions are in high demand; however, cloud installations present a number of difficulties, including security and data integration problems with on-premises data. In this sector, it can be difficult to integrate different analytics software, business intelligence, Master Data Management (MDM), big data, and analytics tools.

Covid-19 Impact

Numerous industries have experienced difficulties as a result of the new corona virus’s proliferation. Economic downturns and supply chain disruptions brought on by the global health crisis have severely impacted business investments. But the crisis has given us a chance to use cutting-edge analytics to improve decision-making. Market participants are providing sophisticated visualisation dashboards to assist users in learning the current state of the Coronavirus. For instance, using Dundas BI, Dundas Data Visualization, Inc. created real-time dashboards. Similar to this, Microsoft's Power BI is collaborating with USA Facts to enable users to interact with and see the COVID-19 dataset. Consequently, it is anticipated that in the near future, demand for data visualisation dashboards will reach an all-time high.

The Cloud segment is expected to be the largest during the forecast period

The Cloud segment is estimated to have a lucrative growth. Businesses that have already implemented apps on-premises can increase their use of storage, networking, and tools as well as analytical capabilities by deploying them on the cloud. Cloud deployments give the company the option to manage its apps by outsourcing the BI infrastructure. This element aids the company in boosting output, streamlining implementation schedules, and lowering overhead expenses. Consequently, it is anticipated that cloud deployment would experience rapid expansion.

The human resource segment is expected to have the highest CAGR during the forecast period

The human resource segment is anticipated to witness the fastest CAGR growth during the forecast period, as a result of the expanding requirement for workforce management. Many businesses are implementing business intelligence tools to allow their HR managers to make decisions about their staff in real-time. It enables businesses to effectively comprehend and foresee talent availability, talent shortage, employee lifecycles, and attrition rates. Companies utilise analytics for hiring new employees to manage retention and retirement plans, monitor safety and learning, and evaluate performance. Business intelligence solutions also give HR managers immediate access to information about the cost, availability, effectiveness, and calibre of the world's labour force. To better understand employee engagement and attrition, anticipate the number of promotions based on experience, potential, skill set, and other important elements for promotion and appraisal activities, businesses are integrating business intelligence solutions with their existing HR software.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to of the IoT technology's commercialization and the rising use of cutting-edge technologies in nations like China, Japan, and India, which are boosting the need for business intelligence solutions and services. Additionally, the business intelligence industry now has a more precise and trustworthy advantage thanks to the growing market and need for IOT and big data.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period, owing to the rapid development and adoption of new technologies and key players like Microsoft Corporation, IBM Corporation, Oracle Corporation, Tableau Software, LLC, and others will fuel regional growth. A company in North America with a focus on the creation of sophisticated analytics, data governance, and data intelligence software is called The Business Intelligence Institute, SC (Mexico). The company uses machine learning, AI, IoT, and cloud computing in a variety of sectors, including national security, banking, and retail, among others. It is predicted that these dynamic groups will raise awareness of these solutions.

Key players in the market

Some of the key players profiled in the Business Intelligence Market include Tableau Software, LLC, Oracle Corporation, Microsoft Corporation, Sisense Inc., SAP SE, Domo, Inc., Yellowfin International Pty Ltd, SAS Institute Inc., Infor, IBM Corporation, Alphabet Inc., International Business Machines Corp., Panorama Software Inc., TIBCO Software Inc., ScienceSoft USA Corp., Amazon.com Inc., QlikTech international AB and Alteryx Inc.

Key Developments:

In August 2022, Sisense, the leading AI-driven platform for infusing data analytics, partners with Gerimedica, a multi-disciplinary electronic medical record (EMR) company that serves the aged-care market, to transform patient care with the power of big data. After deploying Sisense, Gerimedica has seen an average decline of 6% in admission days per patient, resulting in €540 reduced cost per patient.

In May 2022, Alteryx Inc, the Analytics Automation Company, unveiled new advancements that empower enterprises to enable cloud analytics, democratize insights, and ensure data governance. Alteryx delivers on these needs by offering intelligent data transformation and insights in the cloud at scale.

In June 2020, Microsoft Corporation and SAS Institute Inc. partnered to accelerate the growth of SAS Analytics and Microsoft Azure cloud. The companies aim to integrate SAS analytics solutions with Microsoft’s complete cloud portfolio, including Dynamics 365Azure, Microsoft 365, and Power tool.

In October 2019, SAP SE announced enhancements to its business technology platform comprising SAP HANA Cloud, SAP Data Warehouse Cloud solution, and SAP analytics cloud. The new 4.3 release of SAP Business Objects Business Intelligence suite aims to support on-premise solutions by integrating SAP analytics cloud.

Components Covered:
• Services
• Solutions
• Other Components

Deployment Modes Covered:
• On- Premises
• Cloud

Organization Sizes Covered:
• Small and Medium-Sized Enterprises (SMEs)
• Large Enterprises

Data Types Covered:
• Semi-Structured Data
• Unstructured Data
• Structured Data

Business Functions Covered:
• Finance
• Human Resource
• Operations
• Sales and Marketing
Technologies Covered:
• Cloud BI
• Mobile BI
• Social BI

Applications Covered:
• CRM Analytic Operations
• Production Planning Analytic Operations
• Supply Chain Analytic Applications
• Financial Performance and Strategy Management
• Predictive Asset Maintenance
• Fraud Detection and Security Management
• Network Management and Optimization
• Workforce Management
• Sales and Marketing Management
• Operations Management
• Other Applications

End Users Covered:
• Government and Public Services
• Retail
• Media and Entertainment
• Telecom and IT
• Tourism and Hospitality
• Manufacturing
• Transportation and Logistics
• Healthcare and Life Sciences
• Banking, Financial Services and Insurance (BFSI)
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
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 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- 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


1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Business Intelligence Market, By Component
5.1 Introduction
5.2 Services
5.2.1 Consulting
5.2.2 Deployment and Integration
5.2.3 Support and Maintenance
5.3 Solutions
5.3.1 Data Integration and ETL
5.3.2 Dashboards and Scorecards
5.3.3 Query and Analysis
5.3.4 Reporting and Visualization
5.4 Other Components
6 Global Business Intelligence Market, By Deployment Mode
6.1 Introduction
6.2 On- Premises
6.3 Cloud
7 Global Business Intelligence Market, By Organization Size
7.1 Introduction
7.2 Small and Medium-Sized Enterprises (SMEs)
7.3 Large Enterprises
8 Global Business Intelligence Market, By Data Type
8.1 Introduction
8.2 Semi-Structured Data
8.3 Unstructured Data
8.4 Structured Data
9 Global Business Intelligence Market, By Business Function
9.1 Introduction
9.2 Finance
9.3 Human Resource
9.4 Operations
9.5 Sales and Marketing
10 Global Business Intelligence Market, By Technology
10.1 Introduction
10.2 Cloud BI
10.3 Mobile BI
10.4 Social BI
11 Global Business Intelligence Market, By Application
11.1 Introduction
11.2 CRM Analytic Operations
11.3 Production Planning Analytic Operations
11.4 Supply Chain Analytic Applications
11.5 Financial Performance and Strategy Management
11.6 Predictive Asset Maintenance
11.7 Fraud Detection and Security Management
11.8 Network Management and Optimization
11.9 Workforce Management
11.10 Sales and Marketing Management
11.11 Operations Management
11.12 Other Applications
12 Global Business Intelligence Market, By End User
12.1 Introduction
12.2 Government and Public Services
12.3 Retail
12.4 Media and Entertainment
12.5 Telecom and IT
12.6 Tourism and Hospitality
12.7 Manufacturing
12.8 Transportation and Logistics
12.9 Healthcare and Life Sciences
12.10 Banking, Financial Services and Insurance (BFSI)
12.12 Other End Users
13 Global Business Intelligence Market, By Geography
13.1 Introduction
13.2 North America
13.2.1 US
13.2.2 Canada
13.2.3 Mexico
13.3 Europe
13.3.1 Germany
13.3.2 UK
13.3.3 Italy
13.3.4 France
13.3.5 Spain
13.3.6 Rest of Europe
13.4 Asia Pacific
13.4.1 Japan
13.4.2 China
13.4.3 India
13.4.4 Australia
13.4.5 New Zealand
13.4.6 South Korea
13.4.7 Rest of Asia Pacific
13.5 South America
13.5.1 Argentina
13.5.2 Brazil
13.5.3 Chile
13.5.4 Rest of South America
13.6 Middle East & Africa
13.6.1 Saudi Arabia
13.6.2 UAE
13.6.3 Qatar
13.6.4 South Africa
13.6.5 Rest of Middle East & Africa
14 Key Developments
14.1 Agreements, Partnerships, Collaborations and Joint Ventures
14.2 Acquisitions & Mergers
14.3 New Product Launch
14.4 Expansions
14.5 Other Key Strategies
15 Company Profiling
15.1 Tableau Software, LLC
15.2 Oracle Corporation
15.3 Microsoft Corporation
15.4 Sisense Inc.
15.5 SAP SE
15.6 Domo, Inc.
15.7 Yellowfin International Pty Ltd
15.8 SAS Institute Inc.
15.9 Infor
15.10 IBM Corporation
15.11 Alphabet Inc.
15.12 International Business Machines Corp.
15.13 Panorama Software Inc.
15.14 TIBCO Software Inc.
15.15 ScienceSoft USA Corp.
15.16 Amazon.com Inc.
15.17 QlikTech international AB
15.18 Alteryx Inc
List of Tables
Table 1 Global Business Intelligence Market Outlook, By Region (2020-2028) ($MN)
Table 2 Global Business Intelligence Market Outlook, By Component (2020-2028) ($MN)
Table 3 Global Business Intelligence Market Outlook, By Services (2020-2028) ($MN)
Table 4 Global Business Intelligence Market Outlook, By Consulting (2020-2028) ($MN)
Table 5 Global Business Intelligence Market Outlook, By Deployment and Integration (2020-2028) ($MN)
Table 6 Global Business Intelligence Market Outlook, By Support and Maintenance (2020-2028) ($MN)
Table 7 Global Business Intelligence Market Outlook, By Solutions (2020-2028) ($MN)
Table 8 Global Business Intelligence Market Outlook, By Data Integration and ETL (2020-2028) ($MN)
Table 9 Global Business Intelligence Market Outlook, By Dashboards and Scorecards (2020-2028) ($MN)
Table 10 Global Business Intelligence Market Outlook, By Query and Analysis (2020-2028) ($MN)
Table 11 Global Business Intelligence Market Outlook, By Reporting and Visualization (2020-2028) ($MN)
Table 12 Global Business Intelligence Market Outlook, By Other Components (2020-2028) ($MN)
Table 13 Global Business Intelligence Market Outlook, By Deployment Mode (2020-2028) ($MN)
Table 14 Global Business Intelligence Market Outlook, By On- Premises (2020-2028) ($MN)
Table 15 Global Business Intelligence Market Outlook, By Cloud (2020-2028) ($MN)
Table 16 Global Business Intelligence Market Outlook, By Organization Size (2020-2028) ($MN)
Table 17 Global Business Intelligence Market Outlook, By Small and Medium-Sized Enterprises (SMEs) (2020-2028) ($MN)
Table 18 Global Business Intelligence Market Outlook, By Large Enterprises (2020-2028) ($MN)
Table 19 Global Business Intelligence Market Outlook, By Data Type (2020-2028) ($MN)
Table 20 Global Business Intelligence Market Outlook, By Semi-Structured Data (2020-2028) ($MN)
Table 21 Global Business Intelligence Market Outlook, By Unstructured Data (2020-2028) ($MN)
Table 22 Global Business Intelligence Market Outlook, By Structured Data (2020-2028) ($MN)
Table 23 Global Business Intelligence Market Outlook, By Business Function (2020-2028) ($MN)
Table 24 Global Business Intelligence Market Outlook, By Finance (2020-2028) ($MN)
Table 25 Global Business Intelligence Market Outlook, By Human Resource (2020-2028) ($MN)
Table 26 Global Business Intelligence Market Outlook, By Operations (2020-2028) ($MN)
Table 27 Global Business Intelligence Market Outlook, By Sales and Marketing (2020-2028) ($MN)
Table 28 Global Business Intelligence Market Outlook, By Technology (2020-2028) ($MN)
Table 29 Global Business Intelligence Market Outlook, By Cloud BI (2020-2028) ($MN)
Table 30 Global Business Intelligence Market Outlook, By Mobile BI (2020-2028) ($MN)
Table 31 Global Business Intelligence Market Outlook, By Social BI (2020-2028) ($MN)
Table 32 Global Business Intelligence Market Outlook, By Application (2020-2028) ($MN)
Table 33 Global Business Intelligence Market Outlook, By CRM Analytic Operations (2020-2028) ($MN)
Table 34 Global Business Intelligence Market Outlook, By Production Planning Analytic Operations (2020-2028) ($MN)
Table 35 Global Business Intelligence Market Outlook, By Supply Chain Analytic Applications (2020-2028) ($MN)
Table 36 Global Business Intelligence Market Outlook, By Financial Performance and Strategy Management (2020-2028) ($MN)
Table 37 Global Business Intelligence Market Outlook, By Predictive Asset Maintenance (2020-2028) ($MN)
Table 38 Global Business Intelligence Market Outlook, By Fraud Detection and Security Management (2020-2028) ($MN)
Table 39 Global Business Intelligence Market Outlook, By Network Management and Optimization (2020-2028) ($MN)
Table 40 Global Business Intelligence Market Outlook, By Workforce Management (2020-2028) ($MN)
Table 41 Global Business Intelligence Market Outlook, By Sales and Marketing Management (2020-2028) ($MN)
Table 42 Global Business Intelligence Market Outlook, By Operations Management (2020-2028) ($MN)
Table 43 Global Business Intelligence Market Outlook, By Other Applications (2020-2028) ($MN)
Table 44 Global Business Intelligence Market Outlook, By End User (2020-2028) ($MN)
Table 45 Global Business Intelligence Market Outlook, By Government and Public Services (2020-2028) ($MN)
Table 46 Global Business Intelligence Market Outlook, By Retail (2020-2028) ($MN)
Table 47 Global Business Intelligence Market Outlook, By Media and Entertainment (2020-2028) ($MN)
Table 48 Global Business Intelligence Market Outlook, By Telecom and IT (2020-2028) ($MN)
Table 49 Global Business Intelligence Market Outlook, By Tourism and Hospitality (2020-2028) ($MN)
Table 50 Global Business Intelligence Market Outlook, By Manufacturing (2020-2028) ($MN)
Table 51 Global Business Intelligence Market Outlook, By Transportation and Logistics (2020-2028) ($MN)
Table 52 Global Business Intelligence Market Outlook, By Healthcare and Life Sciences (2020-2028) ($MN)
Table 53 Global Business Intelligence Market Outlook, By Banking, Financial Services and Insurance (BFSI) (2020-2028) ($MN)
Table 54 Global Business Intelligence Market Outlook, By Other End Users (2020-2028) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

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