Global Business Intelligence Market Will Hit the Industry With a CAGR of 10.3% till 2024

Global Business Intelligence Market accounted for USD 18.2 billion in 2016 growing at a CAGR of 10.3% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic year 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.

 

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Market Definition: Global Business Intelligence Market

Business Intelligence refers to technology-driven process for collecting, integrating, analyzing business information in order to support better the executives, managers, and others to make business decisions. Business intelligence systems provide historical, current and predictive views of business operations, most often using data that has been gathered into a data warehouse or data mart.  It is widely applicable in banking, financial services, and insurance, telecommunications and IT, retail and consumer goods, healthcare and life sciences, manufacturing, government and defense, energy and utilities, transportation and logistics, media and entertainment, and others. Increasing adoption of cloud may act as a major driver in the growth of business intelligence market. On the other side, high investment costs may hamper the market.

Major Market Drivers & Restraints:

  • Increasing Adoption of Cloud
  • Growth of Advanced Analytics
  • Adoption of Data-Driven Decision Making
  • Emergence of IoT-Enabled Technologies
  • Varying Structure of Regulation Policies
  • High Investment Costs

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The global business intelligence market is segmented on the basis of component into platform, software, and services. The services segment is further sub segmented into professional services, and managed services. The professional segment is further sub segmented into system deployment and integration, support and maintenance, and consulting services.

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On the basis of data type, the global business intelligence market is segmented into unstructured data, semi-structured data, and structured data.

On the basis of organization size, the global business intelligence market is segmented into large enterprises, and small and medium-sized enterprises.

On the basis of application, the global business intelligence market is segmented into predictive asset maintenance, fraud detection and security management, supply chain optimization, network management and optimization, workforce management, sales and marketing management, operations management, and others.

On the basis of deployment model, global business intelligence market is segmented into cloud, and on-premises.

On the basis of vertical, the global business intelligence market is segmented into banking, financial services, and insurance, telecommunications and IT, retail and consumer goods, healthcare and life sciences, manufacturing, government and defense, energy and utilities, transportation and logistics, media and entertainment, and others.

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On the basis of geography, the global business intelligence market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others. In 2017, North America is expected to dominate the market.

 

Major Market Competitors: Global Business Intelligence Market

 

Some of the major players of the global business intelligence market are Microsoft Corporation, IBM Corporation, SAP SE, Oracle, TABLEAU SOFTWARE, SAS Institute Inc., Hitachi Vantara, QlikTech International AB, MicroStrategy Incorporated, Information Builders, TIBCO Software Inc, Yellowfin, Sisense Inc., Panorama and others.

 

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Related Report

Global Predictive Maintenance Market – Industry Trends and Forecast to 2024

 

Global Predictive Maintenance Market, By Geography; Component (Solutions, Services {System Integration, Maintenance & Support, Consulting Services}); Organization Size (Small & Medium Enterprises (SMEs), Large Enterprises); Deployment Type (Cloud, On-Premises); Vertical – Industry Trends and Forecast to 2024

 

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