Global BI and Analytics Market Size USD 102.85 Billion in 2032 | Emergen Research
Increasing demand for real-time performance measurement solutions and increasing demand for better sales forecasting and budgeting solution are driving growth of the business intelligence and analytics market.
Vancouver, Nov. 07, 2023 (GLOBE NEWSWIRE) — The global business intelligence and analytics market is expected to reach a value of USD 102.85 Billion by 2032, according to latest analysis by Emergen Research. Global business intelligence and analytics market revenue is projected to increase exponentially during the seven-year forecast period due to increasing demand for real-time performance measurement solutions across various sectors.
Increasing demand for better sales forecasting and budgeting solutions is also expected to further boost global business intelligence and analytics market growth over the forecast period. Besides, rising application of advanced analytical solutions with deep learning, machine learning, and artificial intelligence technologies to generate reports effectively will stimulate global business intelligence and analytics market growth shortly.
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However, concerns and potential issues related to data breaches with the use business intelligence and analytics solutions are expected to impede global business intelligence and analytics market growth to some extent during the forecast period.
Segments Covered in the report.
|The market size in 2019||USD 27.20 Billion|
|The revenue forecast in 2032||USD 102.85 Billion|
|Base year for estimation||2019|
|Quantitative units||Volume in tons, revenue in USD Billion, and CAGR from 2023 to 2032|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments covered||Process Type, Data Delivery, Application, End-use, and Region|
|Regional scope||North America; Europe; Asia Pacific; Latin America; Middle East & Africa|
|Country scope||U.S.; Canada; Mexico; U.K.; Germany; France; BENELUX; Italy; Spain; China; India; Japan; South Korea; Brazil; Saudi Arabia; South Africa; Turkey|
|Key companies profiled||SAP SE, Oracle Corporation, Microsoft Corporation, TIBCO Software Inc., GoodData Corporation, International Business Machines Corporation, MicroStrategy Incorporated, Tableau Software, Inc., SAS Institute Inc., and Qlik Technologies Inc.|
|Customization scope||10 hours of free customization and expert consultation|
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MAJOR COMPANIES and Market Analysis
The global business intelligence and analytics market is highly fragmented, with a substantial number of large- and medium-sized players accounting for a significant share in the global market revenue. Some of the top players are:
- SAP SE
- Oracle Corporation
- Microsoft Corporation
- TIBCO Software Inc.
- GoodData Corporation
- International Business Machines Corporation
- MicroStrategy Incorporated
- Tableau Software, Inc.
- SAS Institute Inc.
- Qlik Technologies Inc.
In August 2020, Qlik Technologies Inc. announced the acquisition of Knarr Analytics, LLC. This acquisition will strengthen Qlik’s cloud platform’s active intelligence capability, which offers constant intelligence to initiate data-driven activities. Knarr will also boost Qlik Sense cloud analytics application Insight Advisor’s expertise and data discovery ability.
In October 2020, TIBCO Software Inc. announced the acquisition of Information Builders, Inc. The acquisition will stimulate TIBCO’s connected intelligence platform to drive innovation with the help of the data-centric portfolio of Information Builders Inc.
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Key Highlights of Report
- Among the application segments, revenue from the sales & marketing segment is expected to register a significantly high CAGR of 11.6% during the forecast period. This high growth rate can be attributed to increasing adoption of busines intelligence and analytics solutions by end-users for the purpose of interpreting meaningful information from raw business data, and utilizing that information to identify potential sales opportunities.
- Due to growing demand for analytical solutions to accurately evaluate consumer behavior in the retail industry, the retail segment is projected to register a significantly robust revenue share contribution to the global business intelligence and analytics market during the forecast period.
- Asia Pacific market is expected to register rapid growth during the forecast period due to rising focus across industries in countries in this region to improve business performance by implementing business intelligence and analytical solutions to stay ahead in highly competitive scenarios.
- In July 2020, Zalando SE implemented GoodData Corporation’s analytics tool to introduce ZMS Insights, which will allow brands to improve decision making. This also helps Zalando to become more cooperative by data sharing with brands, in order to help brand partners, and gain deeper understanding of customer behavior such as understanding which products customers want, and when they want them.
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Emergen Research has segmented the global Business Intelligence and Analytics market on the basis of process type, data delivery, application, end-use, and region.
- Process Type Outlook (Revenue, USD Billion; 2019–2032)
- Online Transactional Processing (OLTP)
- Online Analytical Processing (OLAP)
- Data Delivery Outlook (Revenue, USD Billion; 2019–2032)
- Traditional channels
- Web portal
- Web app
- File Transfer Protocol (FTP)
- Modern channels
- Cloud hosting
- Social sharing
- Application Outlook (Revenue, USD Billion; 2019–2032)
- Business management
- Performance management
- Strategic planning
- Process intelligence
- Competitive intelligence
- IT management
- App analytics
- Web analytics
- Security management
- Sales & Marketing
- Customer behavior analysis
- Campaign management
- Targeted marketing
- Inventory management
- Human resource
- Talent management
- HR analytics
- Supply chain & Logistics
- Shipping & inventory control
- Supplier & vendor management
- End-use Outlook (Revenue, USD Billion; 2019–2032)
- Information Technology
- Energy & Power
- Financial Services
- Regional Outlook (Revenue, USD Billion; 2019–2032)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
- North America
- Sports and games analytics
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