USD 19.87 billion
Business Intelligence Software Market Size, Share, Growth Analysis, By BI Technology(Cloud BI, Mobile BI, Social BI), By Function(Executive Management, Marketing, Sales, Operations), By Deployment Mode(On-premises, Cloud), By Organization Size(Large Enterprises, SMEs), By End Use(BFSI, Manufacturing, Healthcare, Retail), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45F2060 |
Region:
Global |
Published Date: October, 2024
Pages:
201
|Tables:
176
|Figures:
81
Business Intelligence Software Market Insights
Global Business Intelligence Software Market size was valued at USD 24.80 billion in 2022 and is poised to grow from USD 26.25 billion in 2023 to USD 40.44 billion by 2031, growing at a CAGR of 5.51% during the forecast period (2024-2031).
The world has entered into the age of digital transformation, 89% of businesses have adopted a digital business strategy among which big data, mobile technology and API-embedded tech are the most popular contributing around 50-60% of implementations. Usage of e-commerce together with data-aligned business models by small, medium, and large organizations enables the companies to enact strategic decisions leveraging positive high-quality services. Organizations amid the growth of data-directed analytics and progressions are increasing their expenditures in, business intelligence software, and business intelligence tools which are further paving way for high global business intelligence software market revenue.
US Business Intelligence Software Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
HMD
Fastest Growth
HMD
Growth Rate
8.46% CAGR
Global Business Intelligence Software Market ($ Bn)
Country Share for North America Region (%)
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Business Intelligence Software Market Segmental Analysis
Global Business Intelligence Software Market is segmented by BI Technology, Function, Deployment Mode, Organization Size, End Use, and Region. Based on BI Technology, the market is segmented into Cloud BI, Mobile BI, Social BI. Based on Function, the market is segmented into Executive Management, Marketing, Sales, Operations, Finance, Human Resources, Supply Chain. Based on Deployment Mode, the market is segmented into On-premises, Cloud. Based on Organization Size, the market is segmented into Large Enterprises, SMEs. Based on End Use, the market is segmented into BFSI, Manufacturing, Healthcare, Retail, IT & Telecom, Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Cloud business intelligence is expected to have the largest market share in the global business intelligence software market
Using cloud-based systems the expenses for installing specialized software and hardware is minimized. These solutions offer scope for predicted maintenance The data can be accessed from varied sources such as laptops, mobiles, tablets, desktops etc. It allows users the convenience of usage along with offering a dedicated focus on business problems which is expected to project high business intelligence software market revenue.
Another significant surge is expected from social business intelligence. Growing usage of varied applications and software systems for purposes paves way for insightful data availability. Dedicated systems for specialized social activities are enhancing the experiences of customers as well as improving prospects for businesses. Well-oriented healthcare business intelligence systems can be used to provide more personalized treatment to customers and at the same time elevate the experience offered to them with the help of insights generated from datasets. Rapid enhancement in the usage of social media platforms such as Twitter, Facebook, YouTube, Instagram lays scope for the availability of massive consumer data and projects market demand for smart business intelligent systems to manage these data available all across channels.
Global Business Intelligence Software Market By Type
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Business Intelligence Software Market Regional Insights
North America is estimated to dominate the global business intelligence software market in 2021 and it is anticipated to maintain its dominance throughout the forecast period. The region is constantly witnessing the adoption of emerging technologies amid a rising surge of digitally driven innovation. In the year 2020, North America digitalized 60% of its products and services. Various business intelligence applications and software systems have found a significant place in organizations. The insightful data determined decisions in gaining importance and is expected to rise in the upcoming years projecting a high market share in the forecasted period. Cloud BI software in North America is expected to propel the regional growth of the business intelligence software market.
The Asia Pacific region is estimated to appear as a rising market pertaining to the increased adoption of newer technologies for business decisions, and the need to upgrade in a competitive environment. With the growing rise of digitalization and high investment ventures in countries like India and China, several outsourcing firms and services along with enhanced IT- infrastructure are expected to propel the market by high market share and hence pave way for remarkable market revenue in the forecast period.
Global Business Intelligence Software Market By Region
- Largest
- Fastest
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Business Intelligence Software Market Dynamics
Business Intelligence Software Market Driver
High acceptance of cloud-based solutions for business decisions is anticipated to boost the global business intelligence software market
- Organizations are equipping themselves with enhanced benefits of Business Intelligence such as raised ambit for organizations to orient their customers-based decisions a enhance overall user experience. 25% of organizations worldwide have adopted cloud-distributed technology on a large scale. Features such as data scalability further entice organizations. Various options such as pay-as-per-usage, or subscription options help organizations in the scalability of data. Big data is finding its role in every field and widening up the horizon for innovative decisions acceptance of such practices is expected to foster the global business intelligence software market with high market share.
Advent rises in consumer online activities likely to push global business intelligence software market forward
- The industry is primarily driven by widespread e-commerce and a growth in the use of data-driven business models by small, medium, and big businesses. In the United States, for example, restaurant chains such as Wendy's and Ruby Tuesday are heavily utilizing BI software to improve customer connections. The BI method enables businesses to implement strategic decisions in such a way that they result in a positive transformation and high-quality customer service. Furthermore, increased usage of data and business analytics software, backed by ongoing investments in business intelligence and tools, is driving rapid revenue growth in the global business intelligence software market.
Business Intelligence Software Market Restraints
Cost factor related to installation and licensing of BI software is likely to limit the growth of global business intelligence software market
- Significant costs incurred in licensing and implementing BI software are projected to limit global business intelligence software industry growth. The licensing pricing of BI software are impacted by market conditions at the time of purchase rather than software development costs. Furthermore, firms are already reaping benefits from traditional BI tools and are hesitant to acquire advanced BI software. Even if the benefits of BI software are numerous, the initial expenditure in purchasing a good BI platform or software, deploying it in the firm, and training workers on how to use it is significant.
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Business Intelligence Software Market Competitive Landscape
To stay competitive in the global business intelligence software industry, market participants are increasingly launching new products and updating existing ones. The businesses are also making significant investments in R&D projects to create cutting-edge BI tools. For instance, Microsoft Corporation spent USD 14.7 billion on R&D in 2018 to create cutting-edge products and services, which helped the business to maintain a competitive edge over its rivals.
Business Intelligence Software Market Top Players Company Profiles
- IBM Corporation
- Microsoft Corporation
- Salesforce, Inc.
- Oracle Corporation
- Sisense Ltd
- Yellowfin International Pty Ltd
- QlikTech International AB
- SAP SE
- Board International
- MicroStrategy Incorporated
- SAS Institute, Inc.
- Cloud Software Group (TIBCO Software Inc.)
- Information Builders Inc.
- Domo Inc.
- Hitachi (Pentaho)
- GoodData Corporation
- Alteryx Inc.
- Alphabet Inc. (Looker Data Sciences, Inc.)
- Zoho Corporation
- Permira (Informatica)
- Datorama
Business Intelligence Software Market Recent Development
- In May 2022, IBM announced the undertaking of the world's largest corporate transformation projects based on SAP ERP software, designed to fuel the company's growth and better support its clients.
- In May 2022, Tablue Softwares announced the launch of cloud-based BI Decision advancing platform Tableue cloud, which was initially known as Table online. The service launch intends to enhance actionable business decisions and aid the accessible insightful business decision processes.
Business Intelligence Software Key Market Trends
- The growth of business intelligence and analytics software is considerable in major corporations; however, small and medium-sized businesses are also interested in investing in this software due to the benefits connected with it. The popularity of cloud deployment solutions, on the other hand, has provided great benefits to SMBs and significantly improved their adoption rate. This trend is expected to continue in the next years, empowering software suppliers to deliver more innovative solutions with intelligent and smart dashboards with distinct features to respond to the rising need of self-service analytics.
- The global business intelligence software market is expanding as a result of changing trends such as data proliferation, increased competition, and cloud adoption. Furthermore, due to the significant increase in mobile device users, the trend of mobile BI solutions and applications is rapidly gaining traction. These trends are well-nurtured and applied in the tool, as well as in other mobile apps, boosting the entire use of talent management software.
Business Intelligence Software Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, business intelligence software, as well as rising product launches of cloud-based, AI innovations digitally transforming products and services by key players are expected to raise market pressure over the projection period. Cloud-based systems are expected to experience rapid market growth.
In North America increased activities and initiatives to leverage innovative ways to enhance business decisions are expected to be a valuable resource in the market growth of the global business intelligence software market over the forecast period.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 24.80 billion |
| Market size value in 2031 | USD 40.44 billion |
| Growth Rate | 5.51% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
Business Intelligence Software Market Recent Development
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Business Intelligence Software Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Business Intelligence Software Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Business Intelligence Software Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Business Intelligence Software Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Business Intelligence Software Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Business Intelligence Software Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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