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Business Intelligence Market Size, Share, Industry Trends and Forecast to 2030

Business Intelligence Market Research Report – Segmented By Region (North America, Europe, Asia-Pacific, Middle-East & Africa, Latin America) – Analysis on Size, Share, Trends, COVID-19 Impact, Competitive Analysis, Growth Opportunities and Key Insights from 2019 to 2030.


  • Published date -30th Jan 2024

  • Formats -PDF, CSV

  • Region -Global

Business Intelligence Market Size & CAGR in 2021

The global business intelligence market is estimated to have a growth rate of 10.7% CAGR from 2021 to 2026. As a result, the market is projected to reach a value of USD 39.35 billion by 2026.

COVID-19 Impact on the Business Intelligence Market

The COVID-19 pandemic has had a significant impact on the business intelligence market. Due to the lockdowns and economic downturn caused by the pandemic, many businesses had to pivot their strategies and operations. This led to an increased adoption of business intelligence tools and solutions to help companies navigate the uncertainties of the market.

Moreover, the pandemic highlighted the importance of data-driven decision-making, which further boosted the demand for business intelligence technologies. As businesses strive to recover and rebuild post-COVID, the need for robust analytics and insights will continue to drive the growth of the business intelligence market.

Business Intelligence Dynamics

The business intelligence market is driven by the increasing volume of data generated by organizations, which necessitates advanced analytics tools to extract actionable insights. Additionally, the rising focus on digital transformation and the adoption of cloud-based solutions are driving the growth of the business intelligence market.

On the other hand, data privacy and security concerns, along with the shortage of skilled professionals in the field of business intelligence, pose challenges to market growth. However, advancements in artificial intelligence and machine learning are expected to address these challenges and drive further innovation in the business intelligence sector.

Segments and Related Analysis

The business intelligence market can be segmented based on deployment mode, component, industry vertical, and region. Cloud-based deployment is gaining traction due to its scalability and cost-effectiveness. Components of the market include software, services, and platforms. Industry verticals such as healthcare, retail, BFSI, and IT & telecom are the major contributors to the business intelligence market.

By Region Analysis

North America currently dominates the business intelligence market, driven by the presence of major players and early adoption of advanced technologies. Europe is also witnessing significant growth in the business intelligence sector, fueled by the increasing focus on data-driven decision-making. The Asia Pacific region is poised for rapid growth, supported by digital transformation initiatives in emerging economies.

Key Market Players and Competitive Landscape

Some of the key players in the business intelligence market include Microsoft Corporation, Tableau Software, IBM Corporation, SAP SE, and Oracle Corporation. These companies are investing in research and development to innovate new solutions and gain a competitive edge in the market.

The competitive landscape of the business intelligence market is characterized by partnerships, acquisitions, and product launches. Companies are focusing on enhancing their product portfolios and expanding their market presence through strategic collaborations with other industry players.

Recent Happenings in the Business Intelligence Market

In recent news, Microsoft announced the launch of new AI-powered analytics tools for its Power BI platform, aimed at empowering businesses to derive deeper insights from their data. This development reflects the ongoing trend of incorporating artificial intelligence into business intelligence solutions to enhance decision-making capabilities.

Furthermore, Tableau Software introduced a new data management platform that enables organizations to streamline data workflows and improve data governance. This move underscores the importance of data quality and governance in the business intelligence space.

Overall, the business intelligence market is witnessing rapid innovation and growth, driven by the increasing demand for data-driven insights and the continuous evolution of analytics technologies.

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