The Business Intelligence Market report segments the industry into By Component (Software and Platform, Services), By Deployment (On-Premise, Cloud), By End-User Industry (BFSI, IT and Telecommunication, Retail, Healthcare, Other End-User Industries), and By Geography (North America, Europe, Asia, Australia and New Zealand, Latin America, Middle East and Africa).

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• 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.

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 market size for business intelligence and analytics software applications is forecast to increase worldwide over the next few years from 15.3 billion U.S. dollars in 2021 to more than 18 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 212 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 2.6 billion U.S. dollars, 2.1 billion, and 1.9 billion respectively in 2018.

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.

In 2024, Mode was the leading vendor from the global business intelligence (BI) software market, with a market share of 21 percent. The source indicates that BI software enables access and analysis of information to improve and optimize decisions and performance.

The business intelligence vendors market size is observing vibrant growth through 2027, on account of growing need amongst businesses for the integration of advanced analytical tools required for business decisions and strategies with advanced technologies such as Big Data and Artificial Intelligence, combined with the emergence of IoT enabled technologies in the recent era and the adoption to such technologies by businesses worldwide.

The market encompasses a wide range of business intelligence products, each catering to specific business needs. These include:Reporting: Tools for creating interactive reports and dashboardsData Mining: Solutions for extracting valuable insights from large datasetsData Analytics: Advanced analytical capabilities for identifying patterns, trends, and correlationsOLAP (Online Analytical Processing): Tools for analyzing multidimensional dataProcess and Text Mining: Solutions for uncovering hidden insights from unstructured dataCPM (Corporate Performance Management): Tools for monitoring and managing financial and operational performanceDSS (Decision Support Systems): Systems that provide data and analytical tools to aid decision-makingComplex Event Processing: Solutions for analyzing and reacting to real-time eventsOthers: Specialized solutions for industry-specific or niche requirements Recent developments include: May 2023: Rackspace US Inc. declared that it has partnered with CCS Presentation Systems to accomplish a challenging cloud migration with success. The adoption of a cloud-native environment during this shift led to improved productivity, scalability, and security. In order to optimize their remote workforce and lower the total cost of ownership (TCO), Rackspace Technology offered Rackspace Elastic Engineering for Microsoft Azure in addition to consulting and advisory services., January 2023: For better experiences, Microsoft released Power BI in Microsoft Teams. Three new features are included in the announcements: listening and learning from requirements and experiences, an upgrade for legacy Power BI tabs for Channels 2.0, and rich broadcast cards for Chat in Microsoft Teams. , May 2021: For an undisclosed sum, EPAM Systems, a custom software solutions supplier based in the United States, purchased Just-Bl BV, a business intelligence (bi) software company based in the Netherlands. The goal of EPAM Systems' acquisition is to broaden its extensive offering of analytics and data services..

Business Analytics Market was valued at USD 84.42 Billion in 2024 and is projected to reach USD 176.14 Billion by 2031, growing at a CAGR of 9.63% from 2024 to 2031.

Global Business Analytics Market Drivers

The market drivers for the Business Analytics Market can be influenced by various factors. These may include:

Growing Adoption of Big Data Analytics: In order to extract meaningful insights from their data, organizations are progressively using big data analytics in response to the exponential expansion of data. Making educated decisions through data analysis is facilitated by business analytics. Growing Need for Data-driven Decision Making: In order to obtain a competitive edge, businesses are realizing the significance of data-driven decision making. The methods and instruments for data analysis and significant insights extraction for improved decision-making are offered by business analytics. Growing Need for Predictive and Prescriptive Analytics: Predictive and prescriptive analytics are becoming more and more in demand as a means of projecting future trends and results. Businesses can use business analytics to prescribe activities to achieve desired outcomes and forecast future outcomes based on previous data. Growing Emphasis on Customer Analytics: As e-commerce and digital marketing gain traction, companies are putting more of an emphasis on comprehending the behavior and preferences of their customers. In order to increase consumer engagement and personalize marketing efforts, business analytics is used to analyze customer data. Emergence of Advanced Technologies: The use of advanced analytics solutions is being propelled by developments in fields like artificial intelligence (AI), machine learning (ML), and natural language processing (NLP). Businesses may now analyze data more effectively and gain deeper insights thanks to these technologies. Operational Efficiency and Cost Optimization Are Necessary: Companies are always under pressure to increase operational efficiency and reduce costs. Business analytics promotes market expansion by assisting in the identification of opportunities for process and cost-cutting enhancements. Compliance and Regulatory Requirements: The use of business analytics solutions for risk management and compliance reporting is being fueled by the growing regulatory requirements in a number of industries, including healthcare, banking, and retail.

The Report Covers Business Intelligence Companies UK and the Market is segmented by Organization Size (Small & Medium-scale, Large-scale) and End-User (BFSI, IT & Telecom, Retail & Consumer Goods, Manufacturing & Logistics, and Public Services). The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.

Business Analytics Market was valued at USD 84.42 Billion in 2024 and is projected to reach USD 176.14 Billion by 2031, growing at a CAGR of 9.63% from 2024 to 2031.

Global Business Analytics Market Drivers

The market drivers for the Business Analytics Market can be influenced by various factors. These may include:

Growing Adoption of Big Data Analytics: In order to extract meaningful insights from their data, organizations are progressively using big data analytics in response to the exponential expansion of data. Making educated decisions through data analysis is facilitated by business analytics.
Growing Need for Data-driven Decision Making: In order to obtain a competitive edge, businesses are realizing the significance of data-driven decision making. The methods and instruments for data analysis and significant insights extraction for improved decision-making are offered by business analytics.
Growing Need for Predictive and Prescriptive Analytics: Predictive and prescriptive analytics are becoming more and more in demand as a means of projecting future trends and results. Businesses can use business analytics to prescribe activities to achieve desired outcomes and forecast future outcomes based on previous data.
Growing Emphasis on Customer Analytics: As e-commerce and digital marketing gain traction, companies are putting more of an emphasis on comprehending the behavior and preferences of their customers. In order to increase consumer engagement and personalize marketing efforts, business analytics is used to analyze customer data.
Emergence of Advanced Technologies: The use of advanced analytics solutions is being propelled by developments in fields like artificial intelligence (AI), machine learning (ML), and natural language processing (NLP). Businesses may now analyze data more effectively and gain deeper insights thanks to these technologies.
Operational Efficiency and Cost Optimization Are Necessary: Companies are always under pressure to increase operational efficiency and reduce costs. Business analytics promotes market expansion by assisting in the identification of opportunities for process and cost-cutting enhancements.
Compliance and Regulatory Requirements: The use of business analytics solutions for risk management and compliance reporting is being fueled by the growing regulatory requirements in a number of industries, including healthcare, banking, and retail.

The global revenue in the 'Business Intelligence Software' segment of the software market was forecast to continuously increase between 2024 and 2029 by in total 8.6 billion U.S. dollars (+30.95 percent). After the twelfth consecutive increasing year, the revenue is estimated to reach 36.35 billion U.S. dollars and therefore a new peak in 2029. Notably, the revenue of the 'Business Intelligence Software' segment of the software market was continuously increasing over the past years.Find more key insights for the revenue in countries and regions like the revenue change in the 'Application Development Software' segment of the software market in the world and the revenue in the 'Enterprise Resource Planning Software' segment of the software market in Switzerland. The Statista Market Insights cover a broad range of additional markets.

The global business analytics market size reached USD 96.6 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 196.5 Billion by 2033, exhibiting a growth rate (CAGR) of 7.8% during 2025-2033. The surging volume and complexity of data, rising demand for optimized supply chain operations, and growing incidences of cybersecurity threats and consequently increasing privacy concerns among businesses are some of the major factors propelling the market.

Business Intelligence Market size was valued at USD 81.05 Billion in 2024 and is projected to reach USD 548.53 Billion by 2031, growing at a CAGR of 27% from 2024 to 2031.

The business intelligence market is driven by several factors, including the increasing availability of data, the growing need for data-driven decision-making, and the advancements in data analytics technologies. Additionally, the increasing complexity of business environments and the need for real-time insights are also contributing to market growth. Furthermore, the growing adoption of cloud-based solutions and the increasing focus on data governance and security are driving demand for business intelligence solutions.

The size and share of this market is categorized based on Data Integration (Data Collection, Data Processing, Data Visualization, Data Management, Data Analytics) and Application Area (Retail, Transportation and Logistics, Government, Healthcare, Telecommunications) and Deployment Model (Cloud-based, On-premises, Hybrid) and End-user Industry (BFSI, Manufacturing, Energy and Utilities, Real Estate, Travel and Hospitality) and geographical regions (North America, Europe, Asia-Pacific, South America, Middle-East and Africa).

The report covers Global Healthcare BI Solutions Market Size and is Segmented by Component (Software and Services), Mode of Delivery (On-Premise Model, Hybrid Model, and Cloud-Based Model), Application (Financial Analysis, Clinical Data Analysis, Patient Care Analysis, and Other Applications), End User (Payers, Healthcare Providers, and Other End Users), and Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The market values are provided in terms of (USD million) for the above segments.

The size of the Business Intelligence Market was valued at USD 33.12 Billion in 2024 and is projected to reach USD 70.38 Billion by 2033, with an expected CAGR of 11.37% during the forecast period. The Business Intelligence (BI) market is witnessing significant growth as organizations increasingly rely on data-driven strategies to enhance decision-making and operational efficiency. With the rising adoption of cloud computing, big data analytics, and artificial intelligence, BI tools are evolving to provide real-time insights and predictive analytics. Companies across industries, including healthcare, retail, finance, and manufacturing, are leveraging BI solutions to optimize processes, improve customer experiences, and gain a competitive edge. The market is fueled by the need for self-service analytics, data visualization, and integration of BI platforms with enterprise resource planning (ERP) and customer relationship management (CRM) systems. Additionally, advancements in machine learning and automation are further enhancing BI capabilities, enabling businesses to extract actionable insights from vast datasets. Small and medium-sized enterprises (SMEs) are also adopting BI solutions to streamline operations and enhance agility. However, challenges such as data security concerns, high implementation costs, and integration complexities persist. As organizations continue prioritizing digital transformation, the BI market is expected to expand further, with innovations in augmented analytics and embedded BI shaping its future landscape. Recent developments include: January 2023: Microsoft unveiled Power BI enhanced experiences in Microsoft Teams in January 2023. The three new features announced are rich broadcasting cards for Conversation in Microsoft Teams and an upgrade for old Power BI tabs for taking notes and learning from experiences and needs., December 2022: Tableau 2022.4 was released in December 2022 for customers and researchers to explore information. It automates creating, analyzing, and communicating insights through data stories, including Data Change Radar, Information Guide, and Explaining the Viz., October 2022: Oracle increased inclusive and included data and analytics capabilities in October 2022 to empower business users. With the extra stuff in Oracle Fusion Analytics for ERP, CX, HCM, and SCM data analysis, business users can track performance against corporate objectives using visualizations, KPIs, and analytics.. Key drivers for this market are: Growing Volume of Data: The increasing generation of data from various sources drives the need for effective data management and analysis capabilities.

Demand for Real-Time Insights: Businesses require real-time data insights to make timely decisions and respond to market changes effectively.

Adoption of Cloud-Based Solutions: Cloud-based BI solutions offer flexibility, cost-effectiveness, and scalability, driving their adoption.. Potential restraints include: Data Security and Privacy Concerns: The handling and storage of sensitive data raise concerns about data breaches and privacy violations.

Integration Complexity: Integrating BI systems with other enterprise applications and data sources can be complex and time-consuming.

Skill Shortage: The lack of skilled professionals with expertise in data analysis and business intelligence poses a challenge.. Notable trends are: Cognitive BI: BI tools are incorporating cognitive technologies to automate data analysis and provide personalized insights.

Predictive Analytics: BI platforms are leveraging predictive analytics to anticipate future events and trends.

Self-Service BI: Self-service BI empowers business users to create their own reports and analyses without the need for technical assistance.

Natural Language Processing (NLP): NLP capabilities enable users to interact with BI tools using natural language queries..

The global healthcare business intelligence market size reached USD 10.2 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 29.7 Billion by 2033, exhibiting a growth rate (CAGR) of 12.58% during 2025-2033. The transition from intuition-based to data-driven decision-making, regulatory compliance, rising healthcare costs, population health management, and technological advancements are some of the major factors propelling the market.

IMARC Group provides an analysis of the key trends in each segment of the global healthcare business intelligence market report, along with forecasts at the global, regional, and country levels for 2025-2033. Our report has categorized the market based on component, function, deployment mode, application, and end user.

The Report Offers Global Business Analytics Market Growth & Industry Analysis and It is Segmented by Deployment (Cloud, On-Premise, and Hybrid), End-User Industry (BFSI, Healthcare, Manufacturing, Retail, IT, and Telecom), and Geography (North America, Europe, Asia Pacific, Latin America, and Middle East and Africa). The Market Size and Forecasts are Provided in Terms of USD Billion for all the Above Segments.