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Business Intelligence Market

Business Intelligence Market Size, Share & Segmentation by Component (Solution and Services), by Deployment (On-premises and Cloud), by Enterprise Size (Small & Medium-Sized Enterprises and Large Enterprises), by business function (Human Resource, Finance, Operations, and Sales and Marketing), by Industry Verticals (BFSI, Healthcare & Life Sciences, Telecommunications & IT, Government & Public Sector, Manufacturing, Consumer Goods & Retail, Media & Entertainment, Others), by Regions and Global Market Forecast 2022-2028

Report Id: SNS/ICT/2310 | July 2022 | Region: Global | 136 Pages

Report Scope & Overview:

The Business Intelligence Market size was valued at USD 22.35 Bn in 2021 and is expected to reach USD 41.09 Bn by 2028, and grow at a CAGR of 7.91% over the forecast period 2022-2028.

Business intelligence (BI) is a method of reviewing data and presenting relevant information to leaders, managers, and employees in order for them to make better business decisions. As part of the BI procedure, organizations collect information from various IT systems, prepare it for analysis, run queries on the data, and generate data visualizations, BI displays, and reports to make the analytical results available to corporate customers for operational decision-making and strategic planning. The ultimate goal of business intelligence initiatives is to assist firms in making better business choices in order to create revenue, improve operational efficiency, and gain a competitive advantage over their competitors.

Business Intelligence Market

BI integrates analytics, data management, and reporting technologies, as well as various data management and analysis approaches, to achieve this goal. A business intelligence architecture includes more than just BI software. Business intelligence data is often stored in an enterprise data warehouse or smaller data marts that include subsets of business information for specific departments and business units, often with linkages to the enterprise data warehouse.

Data that is unstructured or semi-structured BI data can include both historical and real-time data gathered from source systems, enabling BI solutions to assist both strategic and tactical decision-making processes. Raw data from disparate source systems must frequently be combined, aggregated, and cleansed using data integration and data quality management technologies before it can be used in Business Intelligence applications to ensure that BI teams and business users are analyzing correct and consistent data.

MARKET DYNAMICS:

KEY DRIVERS:

  • Rising need for dashboards for data visualization to improve decision-making abilities

  • Cloud adoption is increasing.

  • Data creation is increasing.

RESTRAINTS:

  • It is difficult to demonstrate the ROI of business intelligence.

OPPORTUNITY:

  • Taking use of business intelligence and data visualizations at COVID-19.

  • There is a growing demand to get relevant insights from underused data.

  • Business intelligence embedded.

CHALLENGES:

  • Data integration.

  • Inadequate professional workforce.

IMPACT OF COVID-19:

In 2020, the global effects of the coronavirus illness 2019 are predicted to have a substantial influence on the business intelligence industry. Lockdowns and travel restrictions throughout the world have significantly reduced demand for supply chain management, which has a negative influence on the retail travel sector and stifles market growth. More and more business owners are reporting that COVID-19 is having an impact on their business intelligence and analytics projects and budgets. Overall, the current environment is projected to have a negative influence on the growth of the business intelligence industry.

MARKET ESTIMATION:

The market is divided into two segments based on organization size: large enterprises and small and medium-sized enterprises (SMEs). Through focused marketing initiatives and promotions, SMEs are required to use business intelligence technologies to enhance market share and customer satisfaction. Aside from that, resource planning and continuous productivity evaluation are two aspects that drive SMEs' demand for advanced BI solutions.

The market is divided into two segments based on organization size: large enterprises and small and medium-sized enterprises (SMEs). Through focused marketing initiatives and promotions, SMEs are required to use business intelligence technologies to enhance market share and customer satisfaction. Aside from that, resource planning and continuous productivity evaluation are two aspects that drive SMEs' demand for advanced BI solutions.

Because of the increased requirement for workforce management, the HR business function segment is expected to develop at a faster rate throughout the projection period. Several firms are using business intelligence technologies to enable HR managers to make real-time personnel choices. It enables them to easily understand and anticipate the availability, scarcity of talent, employee lifetime, and attrition rates. Analytics for talent acquisition is used by businesses to analyze performance, monitor safety and learning, and manage retention and retirement plans. Business intelligence systems also give HR managers real-time information about the global workforce's cost, capacity, capability, and quality.

Because of the sensitivity of financial data and the necessity to coordinate with several other industries, the BFSI vertical is predicted to have the greatest market size throughout the projection period. Improving marketing tactics and client retention policies, generating new investment plans, and minimizing risks are some of the causes driving the BFSI vertical's adoption of business intelligence. During the projection period, the healthcare and life sciences sector is predicted to have the greatest CAGR. The increasing complexity in the healthcare sector vertical necessitate the need for remote and real-time insights from unstructured clinical data, which drives the use of business intelligence solutions in the healthcare and life sciences industries.

KEY MARKET SEGMENTS:

On The Basis of Component         

  • Solution

  • Services

On The Basis of Deployment       

  • On-premises

  • Cloud

On The Basis of Enterprise Size  

  • Small & Medium-Sized Enterprises

  • Large Enterprises

On The Basis of business function

  • Human Resource

  • Finance

  • Operations

  • Sales and Marketing

On The Basis of Industry Verticals         

  • BFSI

  • Healthcare & Life Sciences

  • Telecommunications & IT

  • Government & Public Sector

  • Manufacturing

  • Consumer Goods & Retail

  • Media & Entertainment

  • Others

Business Intelligence Market

REGIONAL ANALYSIS:

Because of its distinctive work method, North America is projected to cover a broad territory. The North American market has a significant market share since it has embraced some of the expanding trends such as information expansion, rivalry growth, and cloud arrangement. The overall BIM markets in the North American area are expected to expand at a growing CAGR during the market projection period of 2022-2028. The Asia-Pacific region has a substantial market share due to local industrialization and the establishment of new firms from scratch.

REGIONAL COVERAGE:

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

KEY PLAYERS:

The major key players are Cisco Systems Inc., Information Builders, IBM Corporation, Microsoft Corporation, Oracle Corporation, Qlik Technologies Inc., SAP SE, SAS Institute Inc., Tableau Software Inc., TIBCO Software Inc.

Business Intelligence Market Report Scope:
Report Attributes Details
 Market Size in 2021  US$ 22.35 Bn
 Market Size by 2028  US$ 41.09 Bn
 CAGR   CAGR of 7.91% From 2022 to 2028
 Base Year  2021
 Forecast Period  2022-2028
 Historical Data  2017-2020
 Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
 Key Segments • By Component (Solution and Services)
• By Deployment (On-premises and Cloud)
• By Enterprise Size (Small & Medium-Sized Enterprises and Large Enterprises)
• By business function (Human Resource, Finance, Operations, and Sales and Marketing)
• By Industry Verticals (BFSI, Healthcare & Life Sciences, Telecommunications & IT, Government & Public Sector, Manufacturing, Consumer Goods & Retail, Media & Entertainment, Others)
 Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
 Company Profiles Cisco Systems Inc., Information Builders, IBM Corporation, Microsoft Corporation, Oracle Corporation, Qlik Technologies Inc., SAP SE, SAS Institute Inc., Tableau Software Inc., TIBCO Software Inc.
 Key Drivers • Rising need for dashboards for data visualization to improve decision-making abilities
• Cloud adoption is increasing
 Market Challenges • Data integration
• Inadequate professional workforce

 


Frequently Asked Questions (FAQ) :

Ans: - The forecast period of the Business Intelligence market is 2022-2028.

Ans: - Data integration and Inadequate professional workforce.

Ans: - The segments covered in the Business Intelligence Market report for study are On the Basis of Component, Deployment, Enterprise Size, business function, and Industry Verticals.

Ans: - North American area is expected to expand at a growing CAGR during the market projection period of 2022-2028.

Ans: - The major key players are Cisco Systems Inc., Information Builders, IBM Corporation, Microsoft Corporation, Oracle Corporation, Qlik Technologies Inc., SAP SE, SAS Institute Inc., Tableau Software Inc., TIBCO Software Inc.


Table of Contents

 

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

 

2. Research Methodology

 

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

 

4. Impact Analysis

4.1 COVID 19 Impact Analysis

4.2 Impact of the Ukraine- Russia war

 

5. Value Chain Analysis

 

6. Porter’s 5 forces model

 

7.  PEST Analysis

 

8. Business Intelligence Market Segmentation, by Component      

8.1 Solution

8.2 Services

 

9. Business Intelligence Market Segmentation, by Deployment     

9.1 On-premises

9.2 Cloud

 

10. Business Intelligence Market Segmentation, by Enterprise Size         

10.1 Small & Medium-Sized Enterprises

10.2 Large Enterprises

 

11. Business Intelligence Market Segmentation, by business function

11.1 Human Resource

11.2 Finance

11.3 Operations

11.4 Sales and Marketing

 

12. Business Intelligence Market Segmentation, by Industry Verticals    

12.1 BFSI

12.2 Healthcare & Life Sciences

12.3 Telecommunications & IT

12.4 Government & Public Sector

12.5 Manufacturing

12.6 Consumer Goods & Retail

12.7 Media & Entertainment

12.8 Others

 

13. Regional Analysis

13.1 Introduction

13.2 North America

13.2.1 USA

13.2.2 Canada

13.2.3 Mexico

13.3 Europe

13.3.1 Germany

13.3.2 UK

13.3.3 France

13.3.4 Italy

13.3.5 Spain

13.3.6 The Netherlands

13.3.7 Rest of Europe

13.4 Asia-Pacific

13.4.1 Japan

13.4.2 South Korea

13.4.3 China

13.4.4 India

13.4.5 Australia

13.4.6 Rest of Asia-Pacific

13.5 The Middle East & Africa

13.5.1 Israel

13.5.2 UAE

13.5.3 South Africa

13.5.4 Rest

13.6 Latin America

13.6.1 Brazil

13.6.2 Argentina

13.6.3 Rest of Latin America

 

14. Company Profiles

14.1 Cisco Systems Inc.

14.1.1 Financial

14.1.2 Products/ Services Offered

14.1.3 SWOT Analysis

14.1.4 The SNS view

14.2 Information Builders

14.3 IBM Corporation

14.4 Microsoft Corporation

14.5 Oracle Corporation

14.6 Qlik Technologies Inc.

14.7 SAP SE

14.8 SAS Institute Inc.

14.9 Tableau Software Inc.

14.10 TIBCO Software Inc

 

15. Competitive Landscape

15.1 Competitive Benchmarking

15.2 Market Share Analysis

15.3 Recent Developments

 

16. Conclusion

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.

Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.

 

The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data.  This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.

We at SNS Insider have divided Primary Research into 2 parts.

Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.

This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.

Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.

Step 3: Data Bank Validation

Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.

Step 4: QA/QC Process

After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.

Step 5: Final QC/QA Process:

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