What is business intelligence (BI)?

Business intelligence refers to the technologies, strategies, and processes used by organizations to analyze data and gain insights for better decision-making. BI encompasses a wide range of activities including data mining, reporting, analytics, data visualization, and predictive modeling.

How big is Business Intelligence Market?

The Global Business Intelligence Market size is expected to be worth around USD 26.5 Billion by 2033, from USD 5.9 Billion in 2023, growing at a CAGR of 16.2% during the forecast period from 2024 to 2033.

Who are the prominent players operating in the business intelligence market?

The major players operating in the business intelligence market are IBM Corporation, SAP SE, Oracle Corporation, Microsoft Corporation, Google LLC, Salesforce, Inc., Amazon Web Services Inc., SAS Institute, TIBCO Software Inc., MicroStrategy Incorporated, Sisense Ltd., Domo Inc., Infor, Other Key Players

What are the trends driving the growth of the business intelligence market?

Trends driving the growth of the BI market include the increasing volume and variety of data generated by organizations (big data), the adoption of cloud-based BI solutions, the integration of AI and machine learning capabilities into BI tools, the rise of self-service BI empowering business users, and the emphasis on real-time analytics.

What are the challenges associated with implementing business intelligence?

Challenges may include data integration complexities, ensuring data quality and accuracy, managing and securing large volumes of data, overcoming organizational resistance to change, addressing skills gaps in data analysis and interpretation, and navigating regulatory compliance requirements.

Which region will lead the global business intelligence market?

In 2023, North America held a dominant market position in the Business Intelligence (BI) market, capturing more than a 37.5% share.

Global Business Intelligence Market By Component (Solution, Services), By Deployment Mode (Cloud-Based, On-Premise), By Organization Size (Small and Medium-Sized Enterprises (SMEs), Large Enterprises), By Industry Vertical (IT & Telecommunications, BFSI, Healthcare, Retail and E-commerce, Manufacturing, Government and Public Sector, Other Industry Verticals), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2024-2033

Published date: April 2024
Report ID: 118253
Number of Pages: 329
Format:

- IBM Corporation
- SAP SE Company Profile
- Oracle Corporation
- Microsoft Corporation Company Profile
- Google LLC
- Salesforce, Inc.
- Amazon Web Services Inc.
- SAS Institute
- TIBCO Software Inc.
- MicroStrategy Incorporated
- Sisense Ltd.
- Domo Inc.
- Infor
- Other Key Players