Global Business Intelligence and Analytics Software Market

Business Intelligence and Analytics Software Market Size, Share, Growth Analysis, By Type(Big Data Analytics, Business Analytics, Customer Analytics, Risk Analytics), By Deployment(On-premises, and Clouds), By Enterprise Size(Large Enterprises, and Small & Medium Enterprises (SMEs)), By End-Use(BFSI, Government, Healthcare, IT & Telecom), By Region - Industry Forecast 2024-2031

Q: What is the global market size of Business Intelligence and Analytics Software Market?

Global Business Intelligence and Analytics Software Market size was valued at USD 21.56 Billion in 2022 and is poised to grow from USD 23.38 Billion in 2023 to USD 44.78 Billion by 2031, growing at a CAGR of 8.46% in the forecast period (2024-2031).

Q: Who are the key vendors in the Global Business Intelligence and Analytics Software Market?

The major players competing in the global business intelligence and analytics software market are Google, Inc.; Informatica; Oracle Corp.; SAS Institute, Inc.; Cloud9 Analytics; IBM Corp.; Microsoft Corp.; Tableau Software; and SAP SE Corp. Companies focus on investing in R&D to develop technologically advanced BI software for the market. Moreover, companies are increasingly involved in networking, mergers & acquisitions, new product launches, and collaborations to increase their market share and acquire new customers. 'Microsoft Corporation', 'SAP SE', 'IBM Corporation', 'Oracle Corporation', 'Tableau Software, Inc.', 'SAS Institute, Inc.', 'QlikTech International AB', 'MicroStrategy, Inc.', 'TIBCO Software Inc.', 'Information Builders Inc.', 'Sisense Inc.', 'BOARD International S.A.', 'Domo Inc.', 'Yellowfin International Pty Ltd', 'Pentaho Corporation', 'GoodData Corporation', 'Alteryx Inc.', 'Looker Data Sciences, Inc.', 'Zoho Corporation', 'Salesforce.com, Inc.'

Q: Which region accounted for the largest share in Global Business Intelligence and Analytics Software Market?

North America is estimated to dominate the global business intelligence and analytics software market and is expected to remain dominant throughout the forecast period. The region continues to see the adoption of emerging technologies. By 2020, North America digitized 60% of its goods and services. Business intelligence systems and software systems have found an important place in organizations. Cloud BI software in North America is expected to drive regional growth in the global business intelligence and analytics software market.

Report ID: SQMIG45A2278 | Region: Global | Published Date: April, 2024
Pages: 192 | Tables: 120 | Figures: 77

Business Intelligence and Analytics Software Market News

In May 2022, IBM announced the world’s largest corporate transformation projects based on SAP ERP software, designed to maximize company growth and better support customers.

In May 2022, Tableau Softwares announced the launch of Tableue cloud, a cloud-based BI Decision advanced platform, originally known as Table online. The launch of the service is intended to increase the availability of business decisions and help in a seamless and insightful business decision-making process.

In November 2022, IBM announced IBM Business Analytics Enterprise, a new piece of software aimed at helping businesses break down data and analytics silos so they can act faster on data-driven findings and navigate unexpected ups and downs so Intelligence determination, budgeting, Reporting, forecasting and monitoring capabilities are delivered by the software, providing users with a complete set of data sources across the organization.

In October 2022, SAS announced an agreement with Veritas led by the Monetary Authority of Singapore (MAS) to integrate and operate the Veritas arsenal with the SAS Via system, aiming to provide intelligence delivery credible applications (AI) have been widely adopted. In banking and financial services. The combination of SAS Via natural language and processing capabilities using out-of-the-box generation enables unbiased analysis of research samples.

Business Intelligence and Analytics Software Market Report Snapshots

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Business Intelligence and Analytics Software Market size was valued at USD 21.56 Billion in 2022 and is poised to grow from USD 23.38 Billion in 2023 to USD 44.78 Billion by 2031, growing at a CAGR of 8.46% in the forecast period (2024-2031).

The major players competing in the business intelligence and analytics software market are Google, Inc.; Informatica; Oracle Corp.; SAS Institute, Inc.; Cloud9 Analytics; IBM Corp.; Microsoft Corp.; Tableau Software; and SAP SE Corp. Companies focus on investing in R&D to develop technologically advanced BI software for the market. Moreover, companies are increasingly involved in networking, mergers & acquisitions, new product launches, and collaborations to increase their market share and acquire new customers. 'Microsoft Corporation', 'SAP SE', 'IBM Corporation', 'Oracle Corporation', 'Tableau Software, Inc.', 'SAS Institute, Inc.', 'QlikTech International AB', 'MicroStrategy, Inc.', 'TIBCO Software Inc.', 'Information Builders Inc.', 'Sisense Inc.', 'BOARD International S.A.', 'Domo Inc.', 'Yellowfin International Pty Ltd', 'Pentaho Corporation', 'GoodData Corporation', 'Alteryx Inc.', 'Looker Data Sciences, Inc.', 'Zoho Corporation', 'Salesforce.com, Inc.'

Organizations are gearing up with the enhanced benefits of business intelligence such as a total user experience that will allow organizations to inform their customer-centric decisions. Distributed technologies in the cloud have been adopted on a large scale by 25% of organizations worldwide. Factors like data scalability further attract organizations. Different options such as pay-as-you-go, or subscription options help organizations in the scalability of the data. Big data is exploring its applications in every sector and expanding new decision making. The adoption of such practices is expected to drive the business intelligence and analytics software market to a significant market share.

Rising Advances in Business Intelligence: Advances in business intelligence and analytics software in large corporations have been tremendous. However, small and medium-sized businesses are also interested in investing in this software because of the benefits associated with it. On the other hand, the popularity of cloud deployment solutions has brought significant benefits to SMBs and greatly improved their adoption. This trend will continue in the coming years, empowering software providers to deliver more innovative solutions, with intelligent dashboards with specific features to meet growing needs including carrying out their own research.

North America is estimated to dominate the business intelligence and analytics software market and is expected to remain dominant throughout the forecast period. The region continues to see the adoption of emerging technologies. By 2020, North America digitized 60% of its goods and services. Business intelligence systems and software systems have found an important place in organizations. Cloud BI software in North America is expected to drive regional growth in the business intelligence and analytics software market.

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