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

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).

The growing global business intelligence and analytics software market is experiencing increased use of computer learning and artificial intelligence (AI) to deliver personalized customer experiences, including the growth of online shopping. If apart from this, the widespread adoption of social networking platforms is another major factor driving this expansion market. The amount of data collected by companies around the world has increased exponentially in recent years. Many companies draw insights from data to make better, more timely, fact-based decisions. For data management and strategic decision-making, this has led to increased demand for sophisticated analytics solutions.

Furthermore, advances in big data have helped data scientists improve their analytical skills. Companies can use big data analytics to improve company strategies, objectives, and performance. By intelligently transforming information, organizations can meet stakeholder requests, manage data volumes, manage risks, increase process control, and increase operational efficiency.