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Report Scope & Overview:

Business Intelligence (BI) Software Market size was valued at USD 28.56 Bn in 2022 and is expected to reach USD 60.64 Bn by 2030, and grow at a CAGR of 9.87% over the forecast period 2023-2030.

Business intelligence is the mix of various data analysis methodologies and technology used to give business information to the firm. And business analytics refers to the skills, techniques, and procedures used to research and evaluate a company's previous performance in order to anticipate the future and prepare appropriately. Business intelligence collects both previous and present data for analysis, whereas business analytics collects primarily past data to anticipate future business insights.

Business Intelligence (BI) Software Market Revenue Analysis

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Businesses may use business intelligence software to make wise decisions based on logical facts such as market trends and customer purchasing habits. For example, data resides in several systems throughout the huge firm since they own ERP and CRM programs. As a result, the first step in implementing BI is to create an inventory of the data generated by the organization. Furthermore, the increasing usage of data analytics in end-use sectors to evaluate data and make better business choices is likely to fuel demand for BI software.

MARKET DYNAMICS:

KEY DRIVERS:

  • Rising Interest in Cloud-Based Deployment.

  • The popularity of Mobile Business Intelligence and Analytics.

  • Functional Specific BI and Analytics Solutions Are Available.

RESTRAINTS:

  • Budget Restriction in SMBS.

  • a scarcity of skilled and proficient workers.

OPPORTUNITIES:

  • Embedded Bias is a Future Need.

  • The Rise of Social Business Intelligence and Analytics.

CHALLENGES:

  • Inadequate Integration.

  • Communication and implementation issues.

IMPACT OF COVID-19:

The emergence of the new coronavirus has wreaked havoc on a variety of businesses. The worldwide health crisis has caused economic downturns and supply chain disruptions, which have impacted corporate investments. However, the crisis has created an opportunity to use sophisticated analytics to improve decision-making. Market participants are providing enhanced visualization dashboards to assist users in determining the real-time condition of the Coronavirus. As a result, demand for data visualization dashboards is projected to skyrocket in the near future.

MARKET ESTIMATION:

The BI software industry is divided into four categories based on technology: cloud business intelligence, mobile business intelligence, social business intelligence, and traditional business intelligence. The cloud business intelligence category accounted for a substantial market share because cloud solutions provide clients with predictive maintenance, which covers the costs of hardware and software problems. The expanding number of persons inside a domain generates vast volumes of information for future access, which is an essential part of the BI sector.

In terms of revenue, the financial function segment led the market in 2022. The increased use of financial instruments for gathering, processing, and analyzing financial data in real-time contexts to aid in making better business decisions is predicted to boost the finance segment's growth. Over the predicted period, executive management is expected to increase significantly. Organizational use of BI software for strategic decision-making is projected to generate demand for the executive management segment. Decision support systems, in which managers utilize computer tools to test their judgments, drive the need for BI in enterprises.

The business intelligence (BI) software industry is divided into hosted and on-premise deployments. On-premise implementation is simple to set up and integrates with current IT and operational systems. Over the projection period, this is likely to fuel demand for the on-premise deployment sector. Cloud deployment enables business applications to be rapidly expanded, readily linked with third-party apps, and offers security at all levels of the company’s IT infrastructure, allowing these applications to be remotely monitored. Furthermore, using cloud-based BI software helps firms to focus on their core competencies rather than maintaining their IT infrastructure.

The market is divided into major firms, small and medium enterprises, and micro and tiny enterprises. Both large and small and medium-sized businesses are increasingly using BI software to improve internal and external business operations. In major businesses, the usage of real-time data compilation tools and complex analytical engines is fueling the need for BI software. BI software enables small and medium-sized businesses to examine corporate data and make decisions that will promote market profitability and growth. BI software also collects client data from multiple internet channels, allowing small and medium-sized businesses to find buyers and sell their products and services to their target market.

The market is divided into BFSI, government, healthcare, IT and telecom, manufacturing, media and entertainment, and others based on end-use. In 2022, BFSI will be the largest end-use segment, accounting for a large revenue share. This dominance may be linked to a rise in the implementation of BI software to offer continuous access to the client database, secure transactions, and an improved client experience. Manufacturing is the major segment that has seen substantial changes in recent years as a result of increased global rivalry, resulting in the abolition of the conventional approach and the creation of a data-oriented structure. As production costs rise fast as profit margins fall, regulatory restrictions for the manufacturing industry across the world become more stringent.

KEY MARKET SEGMENTS:

On the basis of Technology 

  • Cloud Business Intelligence

  • Mobile Business Intelligence

  • Social Business Intelligence

  • Traditional Business Intelligence

On the basis of Function 

  • Executive Management

  • Finance

  • Information and Deployment

  • Sales and Marketing

On the basis of Deployment

  • On-premise
  • Hosted

On the basis of Enterprise Size

  • Large Enterprises

  • Small & Medium Enterprises

On the basis of End-use

  • BFSI

  • Government

  • Healthcare

  • IT & Telecom

  • Manufacturing

  • Media & Entertainment

  • Others

Business Intelligence (BI) Software Market Segmentation Analysis

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REGIONAL ANALYSIS:

In 2021, North America had the greatest market share. This strong position can be linked to a boom in the use of BI software and modernization across different domains. The extensive usage of cloud-based solutions has accelerated the consumption of corporate intelligence. Key cloud BI software companies' deployment in North America is expected to fuel the market's aggressive expansion plans. During the projected period, Asia Pacific is predicted to develop at the fastest CAGR in the worldwide business intelligence software market. As the need for business intelligence software in emerging regions grows, Furthermore, the Asia Pacific market is predicted to develop as a result of the relatively high penetration of business intelligence software and related hardware, the growing number of cloud deployment outsourced operations, and the growing usage of Big Data, IoT, and other technologies.

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 SAP, Microsoft, SAS, Oracle, IBM, Qlik, Tableau Software, Information Builders, Teradata, MicroStrategy, Yellowfin International and Other Players.

Oracle​​​​​​​-Company Financial Analysis

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Business Intelligence (BI) Software Market Report Scope:
Report Attributes Details
 Market Size in 2022

 US$ 28.56 Bn

 Market Size by 2030

 US$ 60.64 Bn

 CAGR 

 CAGR of 9.87% From 2023 to 2030

 Base Year

 2022

 Forecast Period

 2023-2030

 Historical Data

 2020-2021

 Report Scope & Coverage

Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook

 Key Segments

• By Technology (Cloud Business Intelligence, Mobile Business Intelligence, Social Business Intelligence, Traditional Business Intelligence)
• By Function (Executive Management, Finance, Information and Deployment, Sales and Marketing)
• By Deployment (On-premise and Hosted)

• By Enterprise Size (Large Enterprises and Small & Medium Enterprises)
• By End-use (BFSI, Government, Healthcare, IT & Telecom, Manufacturing, 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

SAP, Microsoft, SAS, Oracle, IBM, Qlik, Tableau Software, Information Builders, Teradata, MicroStrategy, Yellowfin International

 Key Drivers

• Rising Interest in Cloud-Based Deployment
• The popularity of Mobile Business Intelligence and Analytics

 Market Challenges

• Inadequate Integration
• Communication and implementation issues

Frequently Asked Questions

Ans: - The Business Intelligence (BI) Software Market size was valued at USD 33.02 Bn in 2021.  

Ans: - Inadequate integration and communication and implementation issues.  

Ans: - The segments covered in the Business Intelligence (BI) Software Market report for study are on the basis of Technology, Function, Deployment, Enterprise Size, End-use

Ans: - In 2021, North America had the largest market share. 

Ans: - The primary growth tactics of Business Intelligence (BI) Software market participants include merger and acquisition, business expansion, and product launch.  

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 Ukraine- Russia war

4.3 Impact of ongoing Recession

4.3.1 Introduction

4.3.2 Impact on major economies

4.3.2.1 US

4.3.2.2 Canada

4.3.2.3 Germany

4.3.2.4 France

4.3.2.5 United Kingdom

4.3.2.6 China

4.3.2.7 Japan

4.3.2.8 South Korea

4.3.2.9 Rest of the World

 

5. Value Chain Analysis

 

6. Porter’s 5 forces model

 

7.  PEST Analysis

8. Business Intelligence (BI) Software Market Segmentation, by Technology 

8.1 Cloud Business Intelligence

8.2 Mobile Business Intelligence

8.3 Social Business Intelligence

8.4 Traditional Business Intelligence

9. Business Intelligence (BI) Software Market Segmentation, by Function 

9.1 Executive Management

9.2 Finance

9.3 Information and Deployment

9.4 Sales and Marketing

10. Business Intelligence (BI) Software Market Segmentation, by Deployment

10.1 On-premise

10.2 Hosted

11. Business Intelligence (BI) Software Market Segmentation, by Enterprise Size

11.1 Large Enterprises

11.2 Small & Medium Enterprises

12. Business Intelligence (BI) Software Market Segmentation, by End-use

12.1 BFSI

12.2 Government

12.3 Healthcare

12.4 IT & Telecom

12.5 Manufacturing

12.6 Media & Entertainment

12.7 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 SAP

14.1.1 Financial

14.1.2 Products/ Services Offered

14.1.3 SWOT Analysis

14.1.4 The SNS view

14.2 Microsoft

14.3 SAS

14.4 Oracle

14.5 IBM

14.6 Qlik

14.7 Tableau Software

14.8 Information Builders

14.9 Teradata

14.10 MicroStrategy

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.

Primary Research

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.

Data Bank Validation

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.

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