Global Business Intelligence (BI) Vendors Market – Industry Trends and Forecast to 2031

Global Business Intelligence (BI) Vendors Market, By Component (Platform, Software, Solution, and Services), Data Type (Structured Data, Unstructured Data, and Semi-Structured Data), Function (Human Resource, Finance, Operations, and Sales and Marketing), Technology (Mobile, Cloud, Social, and Others), Deployment Model (Cloud, On-Demand, and On-Premises), Organization Size(Small and Medium-Sized Enterprises, and Large Enterprises), Application (CRM Analytic Application, Financial Performance and Strategy Management, Production Planning Analytic Operations, Predictive Asset Maintenance, Fraud Detection and Security Management, Supply Chain Optimization/ Operations, Network Management and Optimization, Workforce Management, Sales and Marketing Management, Operations Management, and Others), Industry Vertical (Banking, Financial Services, and Insurance (BFSI), Telecommunications and IT, Retail and Consumer Goods, Healthcare and Life Sciences, Manufacturing, Government and Defense, Public Services, Energy and Utilities, Transportation and Logistics, Tourism and Hospitality, Media and Entertainment, and Others) - Industry Trends and Forecast to 2031.

Business Intelligence (BI) Vendors Market Analysis and Size

Supply chain solutions are becoming more intelligent, instrumented, and interconnected with each year owing to rapid advancements in the technology. E-commerce sector has grown rapidly in the past few years, especially during the outbreak of COVID-19. These solutions deliver effective and efficient supply chain services that help organizations acquire business objectives. Through the emergence of big data and the growing need to make important business decisions quickly, business intelligence (BI) and analytics solutions have gained a sizeable market share over the past ten years. The past ten years have seen a significant increase in the market share for business intelligence and analytics solutions due to the emergence of big data and the growing need to make important business decisions quickly.

The global drop shipping market was valued at USD 220.93 billion in 2023 and is expected to reach USD  58.78 billion by 2031, registering a CAGR of 29.30% during the forecast period of 2024-2031. Electronics and Media accounts for the largest product type in the respective market owing to the high demand for electronic products. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Report Scope and Market Segmentation

Market Definition

Business intelligence (BI) is a procedural and technical framework for storing, collecting, and analyzing data produced by an organization's operations. Process analysis, data mining, descriptive analysis, and performance benchmarking are all included. With the help of business intelligence, businesses can base their choices on logical information about market trends and consumer spending habits. For example, a large organization's systems contain data because CRM and ERP are used to power those operations. With this, the company can streamline their operations across all applications.

Business Intelligence (BI) Vendors Market Dynamics

Drivers

Acceptance of Data Analytics The business intelligence market is anticipated due to the increasing acceptance of data analytics in end-use industries to analyze data and make more trustworthy business decisions. The main factors anticipated to fuel the business intelligence market growth include increased e-commerce usage and growing acceptance of data-oriented business models by small, medium, and large organizations, creating market expansion.

• Complex Event Processing Techniques

One of the key drivers of using the cloud to access business intelligence and analytics is the future of IoT and big data. Many t research findings shows that as more work is done outside the traditional workplace, there is an increasing demand for mobile business intelligence capabilities. The use of predictive and prescriptive analytics tools has improved business intelligence analysis. To enhance the decision-making process, complex event processing, graph analysis, and estimation methods drive market growth.

• Enhanced and Optimized Workflows through Business Intelligence

Mobile business intelligence enables firms to gain insights through data analysis by employing software designed for mobile devices. It provides real-time data for consumers to understand on portable devices such as tablets and smartphones, empowering them to make informed decisions. The penetration of BI within businesses has increased, and assistance in the form of additional information is provided by implementing mobile business intelligence (BI) features into operational business developments. As a result, decision-making abilities are accelerated while data is expanded, and the time needed to find pertinent information is reduced. Thus, mobile business intelligence (BI) offers greater information availability, quicker response times, more effective working, shorter workflows, and enhanced internal communication.

Opportunities

• Increasing Use of Cloud-Based Business Solutions

The high volume of data that supports the expansion of the data market in the structure is the increasing use of the internet throughout the world. The development of the free global data market has been greatly aided by the emergence of the Internet of Things (IoT) and Big Data. Business intelligence-related services such as interactive dashboard reporting and intelligent KPI monitoring or dynamic are included in cloud-based business intelligence (BI) applications.  As internet usage and IoT technology grow, cloud-based tools and services become increasingly popular. The business intelligence (BI) market's growth is surging by SMEs' adoption of cloud-based solutions, creating lucrative growth opportunities.

• Increasing Use of Analystics across the Industries

The three leading solutions are business intelligence platforms, corporate performance management (CPM) suites, and analytical apps. The demand for analytical business intelligence solutions is on the rise, and as a result, solutions currently have the largest market share. Platforms for analytics and business intelligence (ABI) allow people with less technical expertise to model, explore, analyze, and manage data, which may open up new opportunities.

Restraints/Challenges

• High implementation Costs and High Levels of Resistance

The main factors impeding the business intelligence market are high implementation costs and high resistance to business intelligence adoption. The initial cost may include the fees of several licenses that the company will need or might need to add in the future, as well as the cost of the hardware required to run the solution effectively. The business intelligence tool is complex for non-technical business users to use independently and does not assist the right people in performing their jobs more effectively. The report provides in-depth details on the market growth factors and business intelligence market growth inhibitors & provides technological trends in the business intelligence landscape. However, the inability to demonstrate the return on investment for business intelligence is anticipated to limit its growth. 

• Limitation in Cloud Deployment.

Integration of clients and software users is a significant barrier for businesses that provide business intelligence and analytics. With many advantages, cloud-based business intelligence solutions are in high demand; however, cloud deployments have several disadvantages, such as security and data integration issues with on-premises data. Integrating various business intelligence (MDM), big data, analytics, and software applications in this market is challenging. However, licensing and installing business intelligence costs a sizable sum, likely proving difficult for the industry's growth.

This business intelligence market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the business intelligence market contact Data Bridge Market Research for an analyst brief, our team will help you take an informed market decision to achieve market growth.

Business Intelligence (BI) Vendors Market Scope

The business intelligence market is analysed and market size insights and trends are provided by country, component, data type, function, technology, deployment model, organizational size, application, and industry vertical. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Component

• Platform
• Software
• Solution
• Services

Data Type

• Structured Data
• Unstructured Data
• Semi-Structured Data

Function

• Human Resource
• Finance
• Operations
• Sales and marketing

Technology

• Mobile
• Cloud
• Social
• Others

Deployment Model

• Cloud
• On-Demand
• On-Premises

Organization Size

• Small and Medium-Sized Enterprises
• Large Enterprises

Application

• CRM analytic application
• Financial Performance and Strategy management
• Production planning analytic operations
• Predictive Asset Maintenance
• Fraud Detection and Security Management
• Supply Chain Optimization/ operations
• Network Management and Optimization
• Workforce Management
• Sales and Marketing Management
• Operations Management
• Others
• Service operations

Industry Vertical

• Banking, Financial Services, and Insurance (BFSI)
• Telecommunications and IT
• Retail and Consumer Goods
• Healthcare and Life Sciences
• Manufacturing
• Government and Defense
• Public services
• Energy and Utilities
• Transportation and Logistics
• Tourism and Hospitality
• Media and Entertainment
• Others
• Real Estates
• Education

Business Intelligence (BI) Vendors Market Region Analysis/Insights

The business intelligence market is analysed and market size insights and trends are provided by country, component, data type, function, technology, deployment model, organizational size, application, and industry vertical as referenced above.

The countries covered in the business intelligence market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, and Rest of the Middle East and Africa.

North America is expected to dominate the market and will continue to flourish its trend of dominance during the forecast period. The major factors attributable to the region’s dominance are an expanding trend, such as the proliferation of data, escalating competition, the use of the cloud, and the growing acceptance of business intelligence functions and digitalization across many industries. The high adoption rate of cloud strategies has accelerated the use of business intelligence.

Asia Pacific is expected to be the highest growing region due to the increasing needs of developing countries. Some of the key factors anticipated to fuel the growth of the business intelligence market in the region include the significant level of acceptance for business intelligence software and tools, outsourcing activities for cloud deployment, and the need for consumer insights.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

 Advancement of Technology

The global business intelligence (BI) vendors market also provides you with a detailed market analysis for every region’s growth for capital equipment, installed base of different kinds of products for the market, the impact of technology using lifeline curves, and changes in battery regulatory scenarios and their impact on the variable frequency drive market. The data is available for the historic period 2016-2021.

Competitive Landscape and Business Intelligence (BI) Vendors Market Share Analysis

The business intelligence market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to business intelligence market. some of the major players operating in the market are

• SAP SE (Germany)
• IBM (U.S.)
• Oracle (U.S.)
• Cisco Systems, Inc. (U.S.)
• Microsoft (U.S.)
• TABLEAU SOFTWARE, LLC, (U.S.)
• QlikTech International AB, (U.S.)
• fish, Inc. product. (U.S.)
• Mode Analytics, Inc. (U.S.)
• Looker (U.S.)
• Infor. (U.S.)
• ConnectWise. (U.S.)
• Hitachi Vantara LLC (U.S.)
• Sisense Inc. (U.S.)
• SAS Institute Inc. (U.S.)
• MICROSTRATEGY INCORPORATED (U.S.)
• Cloud Software Group, Inc. (U.S.)
• Pegasystems Inc. (U.S.)
• Verizon (U.S.)
• RACKSPACE TECHNOLOGY (U.S.)
• AT&T Intellectual Property. (U.S.)
• Juniper Networks, Inc. (U.S.)