In 2024, Mode was the leading vendor from the global business intelligence (BI) software market, with a market share of ** percent. The source indicates that BI software enables access and analysis of information to improve and optimize decisions and performance.

Business Intelligence Software Market size was valued at USD 23.44 Billion in 2024 and is projected to reach USD 46.77 Billion by 2032, growing at a CAGR of 9.02% during the forecast period 2026-2032.

Key Market Drivers

Growing Demand for Data-Driven Decision Making: The business intelligence software market is significantly driven by enterprises' growing reliance on data-driven strategies. Businesses that use data-driven decision-making are 19 times more likely to be successful, 6 times more likely to retain consumers, and 23 times more likely to attract new ones, per a McKinsey Global Institute analysis. The demand for sophisticated business intelligence solutions that deliver actionable insights is being driven by this shift toward analytics-based decision-making.

The Business Intelligence (BI) Software industry in the US has experienced substantial growth, driven primarily by surging demand for data-driven decision-making amidst increasing online business activities. The pandemic significantly accelerated this trend as companies shifted their operations online and invested in sophisticated analytics tools. In 2024, the industry is valued at $36.4 billion, with revenue climbing 6.4% during 2024 alone. The industry has benefited from investments in cloud-based services and AI solutions, which have been critical growth drivers, leading to profit accounting for 24.6% of revenue during the current year. Mergers and acquisitions (M&A) have been pivotal in reshaping the BI landscape. Prominent firms like Salesforce, Google and Microsoft are leveraging their robust financial positions to acquire innovative startups, expanding their market share and product portfolios. This strategic consolidation targets niche markets and drives rapid technology adoption. These investment activities provide significant competitive edges by integrating artificial intelligence (AI), machine learning (ML), and natural language processing (NLP) into BI solutions. These technologies have proven essential for automated data analysis, enhancing efficiency and streamlining business processes. Moving forward, the BI software industry seeks to capitalize on the growing potential of AI to drive revenue up at a CAGR of 3.5% to $39.1 billion. As businesses rely on data to make business decisions, they will demand enhanced real-time features that incorporate predictive AI to allow them to make immediate decisions. As industry participants prioritize efficiency and data security in their product offerings, they will solidify their indispensable role in contemporary business operations. This will lead to favorable margins moving forward. While the BI software sector remains highly dynamic with stiff competition, companies focusing on rapid technology adoption, strategic M&A activities and catering to SME needs are poised to benefit immensely from this ongoing digital transformation. Such forward-thinking strategies will open new opportunities and drive continual innovation within the industry.

Business Intelligence (BI) Market Segmented by Component (Software and Platform, Services), Deployment (On-Premise and Cloud), Business Model (Subscription / SaaS License, Perpetual License and More), End-User Industry (BFSI, IT and Telecommunication and More), and Geography. The Market Forecasts are Provided in Terms of Value (USD).

The market size for business intelligence and analytics software applications is forecast to increase worldwide over the next few years from **** billion U.S. dollars in 2021 to more than ** billion in 2026. The business intelligence and analytics software application market is a subsegment of the enterprise application software market. Enterprise application software - a market with worldwide revenues of *** billion U.S. dollars in 2020 - aims at responding to the needs of organizations. These software programs make it easier for companies and businesses to accomplish their corporate goals, by helping to improve supply chain management, manage resources, or interact better with customers, among others. Business intelligence and analytics     Business intelligence applications are used to collect and analyze current, actionable data in order to maintain, optimize or streamline business operations. Business analytics tools, on the other hand, are used to analyze data to be able to predict business trends. The leading companies in the business intelligence and analytics market are Microsoft, SAP and IBM, with revenues of *** billion U.S. dollars, *** billion, and *** billion respectively in 2018.

Dive into Market Research Intellect's Business Intelligence Bi Software Market Report, valued at USD 12.5 billion in 2024, and forecast to reach USD 30.2 billion by 2033, growing at a CAGR of 10.5% from 2026 to 2033.

Explore the growth potential of Market Research Intellect's Business Intelligence Software Market Report, valued at USD 15.8 billion in 2024, with a forecasted market size of USD 34.5 billion by 2033, growing at a CAGR of 9.7% from 2026 to 2033.

Editor’s Choice

• The Global Business Intelligence Market size is expected to be worth around USD 26.5 Billion by 2033, from USD 5.9 Billion in 2023, growing at a CAGR of 16.2% during the forecast period from 2024 to 2033.
• By 2023, over 33% of large-sized businesses will utilize decision intelligence practices.
• The global business intelligence and analytics market is expected to reach $55.48 billion by 2026, growing at a CAGR of 10.1% from 2021 to 2026.
• 94% of organizations rated business intelligence and analytics as either critical or very important to their business success. (Source: Dresner Advisory Services)
• Data-driven organizations are 23 times more likely to acquire customers, 6 times more likely to retain customers, and 19 times more likely to be profitable compared to their peers. (Source: McKinsey)
• About 97.2% of executives reported that their organizations are investing in or planning to invest in big data and AI to drive decision-making. (Source: NewVantage Partners)
• By 2022, 90% of corporate strategies will explicitly mention information as a critical enterprise asset and analytics as an essential competency.

This statistic shows the global market share held by the leading business intelligence software vendors, as of 2017. At that time, SAP was the largest vendor of business intelligence software, controlling ** percent of the market.

According to Cognitive Market Research, the global Business Intelligence and Analytics Software Market will be USD 22.6 billion in 2024 and expand at a compound annual growth rate (CAGR) of 8.7 % from 2024 to 2031. Market Dynamics of Business Intelligence and Analytics Software Market

Key Drivers for Business Intelligence and Analytics Software Market

Increasing Use of Integrated BI Systems to Accelerate Market Growth - Bl advancements and an API-first design power embedded business information and analytics in both commercial and personal applications. Furthermore, its interface with other software, such as ERP and CRM, allows firms to harness and analyze vast amounts of data collected by the ERP software. The program assists in analyzing and representing data in a more actionable fashion, as well as allowing for easy interpretation. According to the Wisdom of Crowd's 2021 BI research, 17% of enterprises believe that embedded Bl housed within a portal or application or integrated with other systems is crucial for their businesses, while 43% believe it is important.

Demand for Real-time Insights

Key Restraints for Business Intelligence and Analytics Software Market

Cost and resource-intensiveness

Data Privacy and Security Concerns Introduction of Business Intelligence and Analytics Software Market

Business intelligence (BI) is a technical and operational infrastructure that saves, collects, and analyzes data created by an organization's activities. It includes process analysis, data mining, descriptive analytics, and performance benchmarking. The market need for these solutions grows as firms focus more on strategic decision-making, valuable insights, faster and more accurate reporting, and increased productivity. As a result of the growing number of activities aimed at digital transformation, numerous major stakeholders are producing new developments, innovations, and partnerships.

According to Cognitive Market Research, the global Business Intelligence market size is USD 16.9 million in 2023 and will expand at a compound annual growth rate (CAGR) of 9.50% from 2023 to 2030.

The demand for Business Intelligence s is rising due to the increasing data complexity and rising focus on data-driven decision-making.
Demand for adults remains higher in the Business Intelligence market.
The Business intelligence platform category held the highest Business intelligence market revenue share in 2023.
North American Business Intelligence will continue to lead, whereas the Asia-Pacific Business Intelligence market will experience the most substantial growth until 2030.

Growing Emphasis on Data-Driven Decision-Making to Provide Viable Market Output

In the Business Intelligence Tools market, the increasing recognition of the strategic importance of data-driven decision-making serves as a primary driver. Organizations across various industries are realizing the transformative power of insights derived from BI tools. As the volume of data generated continues to soar, businesses seek sophisticated tools that can efficiently analyze and interpret this information. The ability of BI tools to convert raw data into actionable insights empowers decision-makers to formulate informed strategies, enhance operational efficiency, and gain a competitive edge in a data-centric business landscape.

In June 2020, SAS and Microsoft established a comprehensive technology and go-to-market strategic alliance. As part of the collaboration, SAS's industry solutions and analytical products will be moved to Microsoft Azure, SAS Cloud's preferred cloud provider.

Source-news.microsoft.com/2020/06/15/sas-and-microsoft-partner-to-further-shape-the-future-of-analytics-and-ai/#:~:text=and%20SAS%20today%20announced%20an,from%20their%20digital%20transformation%20initiatives.

Rise in Adoption of Advanced Analytics and Artificial Intelligence to Propel Market Growth

Another significant driver in the Business Intelligence Tools market is the escalating adoption of advanced analytics and artificial intelligence (AI) capabilities. Modern BI tools are incorporating AI-driven functionalities such as machine learning algorithms, natural language processing, and predictive analytics. These technologies enable users to uncover deeper insights, identify patterns, and predict future trends. The integration of AI not only enhances the analytical capabilities of BI tools but also automates processes, reducing manual efforts and improving the overall efficiency of data analysis. This trend aligns with the industry's pursuit of more intelligent and automated BI solutions to derive maximum value from data assets.

In March 2020, IBM created a new, dynamic global dashboard to display the global spread of COVID-19 with the assistance of IBM Cognos Analytics. The World Health Organization (WHO) and state and municipal governments provide the COVID-19 data displayed in this dashboard.

Source-www.ibm.com/blog/creating-trusted-covid-19-data-for-communities/

Market Dynamics of the Business Intelligence tool Market

Data Security and Privacy Concerns to Restrict Market Growth

One of the key restraints in the Business Intelligence Tools market revolves around persistent concerns regarding data security and privacy. As organizations increasingly rely on BI tools to process and analyze sensitive business information, the risk of data breaches and unauthorized access becomes a prominent challenge. Heightened awareness of regulatory requirements, such as GDPR, has intensified the focus on protecting sensitive data. Businesses face the challenge of implementing robust security measures within BI tools to ensure compliance with regulations and safeguard against potential data vulnerabilities, thereby slowing down the adoption pace.

Impact of COVID-19 on the Business Intelligence market

The COVID-19 pandemic has had a profound impact on the Business Intelligence (BI) market. As organizations grappled with unprecedented disruptions, the need for timely and accurate insights became paramount. The pandemic accelerated the adoption of BI tools as businesses sought to navigate uncertainties and make data-driven decisions. Remote work became a norm, prompting increased demand for BI solutions that support virtual collaboration and enable users to access analytics from anywhere. Moreover, there w...

The Business Intelligence Software Market size was valued at USD 7.1 billion in 2023 and is projected to reach USD 15.31 billion by 2032, exhibiting a CAGR of 11.6 % during the forecasts period. Business intelligence (BI) software refers to tools and applications that gather, process, and analyze business data to provide actionable insights. These insights help organizations make informed decisions, improve operational efficiency, and gain a competitive edge. Key features of BI software include data integration from multiple sources (like databases, spreadsheets, and cloud services), data visualization through charts and graphs for easy interpretation, and predictive analytics to forecast trends and outcomes. Advantages of using BI software include enhanced decision-making based on real-time data, improved operational efficiency through automation and streamlined processes, and a better understanding of customer behavior and market trends.

According to Cognitive Market Research, the global Business Intelligence Management Software market size will be USD 37521.6 million in 2024. It will expand at a compound annual growth rate (CAGR) of 15.00% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 15008.64 million in 2024 and will grow at a compound annual growth rate (CAGR) of 13.2% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 11256.48 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 8629.97 million in 2024 and will grow at a compound annual growth rate (CAGR) of 17.0% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 1876.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 14.4% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 750.43 million in 2024 and will grow at a compound annual growth rate (CAGR) of 14.7% from 2024 to 2031.
The Cloud-based solutions and advanced analytics category is the fastest growing segment of the Business Intelligence Management Software industry

Market Dynamics of Business Intelligence Management Software Market

Key Drivers for Business Intelligence Management Software Market

Companies Leverage Data Insights for Informed Strategic Decisions to Boost Market Growth

Leveraging data insights has become a crucial driver for market growth as companies strive for competitive advantages in a data-driven world. By harnessing big data, analytics, and artificial intelligence (AI), businesses can gain a deep understanding of consumer behavior, market trends, and operational inefficiencies. This allows for more informed, strategic decision-making that can enhance product development, marketing strategies, and customer experiences. Data insights enable businesses to personalize offerings, predict future market shifts, optimize supply chains, and reduce risks associated with investments. Furthermore, organizations can identify untapped opportunities and address pain points within their industries. Companies that use data-driven approaches can quickly adapt to market changes, streamline operations, and target the right customer segments, thereby fostering growth. This trend not only boosts operational efficiency but also ensures better market positioning, contributing to sustainable and long-term success. As a result, data-driven decision-making is increasingly becoming a key factor in driving market growth. For instance, A single workbench on Microsoft Fabric was introduced by Tech Mahindra and Microsoft in April 2024 to assist businesses in improving operational efficiency, business agility, and data workflows through the integration of AI and machine learning.

Streamlining processes through automated data collection and analysis

The key drivers dominating the market for streamlining processes through automated data collection and analysis are efficiency, accuracy, and cost reduction. Automation reduces the need for manual data entry, minimizing human error and enhancing data quality. This leads to faster decision-making and more reliable insights, enabling organizations to respond quickly to market changes. Additionally, automated systems increase operational efficiency by eliminating repetitive tasks, freeing up valuable resources for strategic initiatives. Cost-effectiveness is another significant driver, as automation reduces labor costs and improves resource allocation. By analyzing data in real time, companies can identify inefficiencies, optimize processes, and increase productivity. Furthermore, advancements in artificial intelligence and machine learning are improving the sophistication of data analysis, allowing for deeper insights and predictive capabilities. These benefits drive the Adoption of automation across various industries, including manufacturing, retail, healthcare, and logistics, ensuring sustainable growth and competitive advantage.

Restraint Factor for the Business Intelligence Management Software Market

High implementation and maintenance costs limit market accessibility

High implementation and maintenance costs are significant restraints that limit market accessibility, particularly in in...

Analytics and Business Intelligence Software Market Outlook

The global analytics and business intelligence software market size is projected to grow from $30.5 billion in 2023 to $75.6 billion by 2032, exhibiting a CAGR of 10.6% during the forecast period. This remarkable growth is fueled by the increasing demand for data-driven decision-making processes across various industries and the rapid advancement in technology, which allows for more sophisticated analytical tools and solutions.

One of the primary growth factors for the analytics and business intelligence software market is the surge in data generation across diverse sectors. With the proliferation of digital channels, social media, IoT devices, and other data-producing technologies, organizations are inundated with vast amounts of data. This data, when effectively harnessed, can provide critical insights into consumer behavior, operational efficiencies, and market trends, driving the demand for advanced analytics and business intelligence solutions.

Moreover, the rising adoption of artificial intelligence (AI) and machine learning (ML) technologies is significantly propelling the market. These technologies enable more accurate predictions, efficient data processing, and deeper insights, thereby enhancing the value derived from business intelligence tools. As organizations strive to maintain a competitive edge, the integration of AI and ML into analytics platforms is becoming increasingly prevalent, fueling market expansion.

Another significant growth driver is the increased focus on regulatory compliance and risk management. Organizations in highly regulated industries, such as BFSI and healthcare, are under constant pressure to comply with stringent regulatory standards. Business intelligence software aids these organizations in monitoring compliance, managing risks, and ensuring data integrity, thus bolstering its adoption.

Business Intelligence Platforms Software plays a pivotal role in the modern analytics landscape, offering organizations the tools needed to transform raw data into actionable insights. These platforms provide a comprehensive suite of features, including data visualization, reporting, and predictive analytics, which enable businesses to make informed decisions. As companies increasingly prioritize data-driven strategies, the demand for robust business intelligence platforms continues to rise. These software solutions not only streamline data processing but also enhance collaboration across departments by providing a unified view of critical business metrics. By leveraging business intelligence platforms, organizations can identify trends, uncover opportunities, and mitigate risks, ultimately driving growth and innovation.

The regional outlook for the analytics and business intelligence software market is quite promising, with North America currently leading the market share due to the early adoption of advanced technologies and the presence of key market players. However, the Asia Pacific region is expected to witness the highest growth rate during the forecast period, driven by the rapid digital transformation and increasing investments in big data and analytics solutions by emerging economies like China and India.

Component Analysis

The analytics and business intelligence software market is segmented by component into software and services. The software segment encompasses various types of analytics software, including predictive analytics, prescriptive analytics, and descriptive analytics. This segment is witnessing significant growth owing to the increasing need for real-time data analysis and visualization tools that help organizations make informed decisions.

Services, on the other hand, include consulting, implementation, and support services. As businesses increasingly adopt analytics solutions, the demand for expert consulting services to smoothly transition to new technologies and integrate them into existing systems is rising. This has created a substantial market for implementation and support services as well, ensuring that the software functions effectively and that any issues are swiftly resolved.

The software segment is further being driven by advancements in cloud-based solutions, which offer scalability, flexibility, and cost-efficiency. Many organizations are transitioning from traditional on-premises software to cloud-based analytics plat

Unlock the potential of the Business Intelligence Software market with our all-encompassing business intelligence report. Gain valuable insights and make informed investment decisions

This statistic shows business Intelligence and analytics tools software market shares by vendor worldwide from 2014 to 2018. In 2018, SAP held a market share of *** percent in the business Intelligence and analytics tools software market.

U.S. Business Intelligence Software Market valued USD 15.5 billion in 2024 and is projected to surpass USD 29.4 billion through 2032

The Mobile Business Intelligence Market Report is Segmented by Solution (Software and Services), Organization Size (Large Enterprises and Small and Medium Enterprises (SMEs)), Application (Sales and Marketing Analytics, Finance and Risk Analytics, and More), End-User Vertical (BFSI, IT and Telecommunications, Healthcare and Life Sciences, and More), and Geography. The Market Forecasts are Provided in Terms of Value (USD).

Learn more about Market Research Intellect's Business Intelligence Management Software Market Report, valued at USD 15.8 billion in 2024, and set to grow to USD 31.5 billion by 2033 with a CAGR of 8.5% (2026-2033).

Global BI Software market size is expected to reach $138.62 billion by 2029 at 11.8%, rise in data-driven projects fuels growth in business intelligence (bi) software market