Business intelligence is process which is driven by data analysis and presentation of prosecutable information to help corporate executives to make more expert business decisions. Business intelligence encircled around a wide range of tools, applications and techniques that empower organizations to collect data from both internal and external sources, arrange it for analysis, develop and run queries against the data. The BI accommodate operational data and analytical tool that presents captious information to business users within the organization. The potentiality of business intelligence solution is to helping organization in producing improved business decision over accurate and more absolute analysis of vacant corporate data assets.
Business Intelligence programs potential benefits includes advanced and improving decision making in the organizations. The BI system provides past present and future view of business operations.it optimize internal business processes, it could also be an important asset for a company’s sales force as it provides access up to the minute reports to identify sales trends and product improvements. Business intelligence helps organization in increasing operational efficiency and gaining competitive advantage over the competitors. BI provides more accurate resource allocation and inventory management. The rapid changes in business environment and the integration of information for better performance management are some of the major driving factors for the growth of the business intelligence market.
The global Business Intelligence Market is expected to grow from US ~$16.3 Billion in 2016 to USD 34.3 Billion by 2022 at the CAGR of ~11.03%. The lack of skilled and proficient workforce is one of biggest challenge faced by most of the organization while implementing this tool hence acts as a major constraints in the growth of this market.
Major Key Players:
- Verizon wireless (U.S.)
- Rackspace (U.S.)
- AT&T (U.S)
- Cisco Systems (U.S.)
- IBM Corp. (U.S.)
- Juniper Networks (U.S.)
- VMware (U.S.)
- SAP SE (Germany)
- Microsoft Corp (U.S)
- SAS Institute (U.S)
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Study Objectives of Global Business Intelligence Market:
- To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the global business intelligence market.
- To provide insights about factors affecting the market growth.
- To analyze the global business intelligence market based porter’s five force analysis etc.
- To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World (ROW).
- To provide country level analysis of the market with respect to the current market size and future prospective.
- To provide country level analysis of the market for segment by technology, service, deployment, component, organization, and industry.
- To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.
The Global business intelligence market has been segmented on the basis of, technology, service, component, deployment, organization, and industry. By technology involves mobile BI, Cloud BI, Social BI and others. By Service includes managed service, hosted service and others. By Deployment includes On-Cloud and On-Premises. Whereas, by organization it includes small business units, by component it include hardware and software and large business units and by industry it is segmented into Telecom & IT, education, manufacturing, retail, banking and others.
North America is expected to propel the market due to the intense research and development in the field of technology industry. North America is holding highest market share of the overall universal business intelligence market due to evolving trend such as data proliferation, increasing competition, cloud deployment.
The overall market in expected to grow at CAGR of around 9.50% during the year 2016-2022 and also increase more revenue by 2022. Asia Pacific is expected to manifest high-growth by the end of the forecasted period due to the rapid industrialization in the region and growing number of start-ups focusing on mobile application development.
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- Cloud Service provider
- Saas providers
- Network service providers
- Storage providers
- Research Institutes
- Hardware providers
- Software Developers
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