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.

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.

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.

https://market.us/wp-content/uploads/2024/04/business-intelligence-market-1024x595.jpg" alt="Business Intelligence Market">

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 **** 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.

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).

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.

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 8.6 percent in the business Intelligence and analytics tools software market.

The global business intelligence market size is slated to garner immense growth from 2023 to 2033. According to the research report published by Future Market Insights, the global market is poised to cross a valuation of US$ 28,216.8 million in 2023. It is predicted to attain a valuation of US$ 56,200.9 million by 2033. The market is anticipated to thrive at a CAGR of 7.1% from 2023 to 2033.

Attribute	Details
Business Intelligence Market Share (2022)	US$ 26,745.8 million
Business Intelligence Market Share (2023)	US$ 28,216.8 million
Business Intelligence Market Share (2033)	US$ 56,200.9 million
Business Intelligence Market CAGR (2023 to 2033)	7.1%

Country-wise Insights

Countries	CAGR Share in Global Market (2022)
United States	19.4%%
United Kingdom	6.7%
China	8.3%
Japan	6.7%

Scope of the Report

Attribute	Details
Forecast Period	2023 to 2033
Historical Data Available for	2018 to 2022
Market Analysis	US$ million for Value
Key Regions Covered	North America Latin America Europe East Asia South Asia Oceania The Middle East & Africa (MEA)
Key Countries Covered	United States Canada Germany United Kingdom Nordic Russia BENELUX Poland France Spain Italy Czech Republic Hungary Rest of EMEAI Brazil Peru Argentina Mexico South Africa Northern Africa GCC Countries China Japan South Korea India ASEAN Thailand Malaysia Indonesia Australia New Zealand Others
Key Segments Covered	Component Organization Size Business Function Vertical Deployment Region
Report Coverage	Market Forecast, Company Share Analysis, Competition Intelligence, Trend Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives

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 16 percent of the market.

The social business intelligence market size is projected to be worth US$ 25,886.8 million in 2024. The market is likely to reach US$ 49,632.4 million by 2034. The market is further expected to surge at a CAGR of 6.7% during the forecast period 2024 to 2034.

Attributes	Key Insights
Social Business Intelligence Market Estimated Size in 2024	US$ 25,886.8 million
Projected Market Value in 2034	US$ 49,632.4 million
Value-based CAGR from 2024 to 2034	6.7%

2019 to 2023 Historical Analysis vs. 2024 to 2034 Market Forecast Projections

Report Attributes	Details
Market Value in 2019	US$ 19,265.3 million
Market Value in 2023	US$ 24,322.1 million
CAGR from 2019 to 2023	6.0%

Country-wise Insights

The United States	3.2%
The United Kingdom	2.3%
India	8.9%
China	7.1%
Japan	5.4%

Category-wise Insights

Category	Shares in 2024
BFSI	17.9%
Large Enterprise	43.5%

Report Scope

Attribute	Details
Estimated Market Size in 2024	US$ 25,886.8 million
Projected Market Valuation in 2034	US$ 49,632.4 million
Value-based CAGR 2024 to 2034	6.7%
Forecast Period	2024 to 2034
Historical Data Available for	2019 to 2023
Market Analysis	Value in US$ million
Key Regions Covered	North America Latin America Western Europe Eastern Europe South Asia and Pacific East Asia The Middle East & Africa
Key Market Segments Covered	Deployment Type Size of Enterprise Vertical Region
Key Countries Profiled	The United States Canada Brazil Mexico Germany France France Spain Italy Russia Poland Czech Republic Romania India Bangladesh Australia New Zealand China Japan South Korea GCC countries South Africa Israel
Key Companies Profiled	IBM Corporation SAP SE SAS Institute Inc. Tableau Software, Inc. Qlik Technologies, Inc. Microsoft Corporation Alteryx Inc. MicroStrategy, Inc. Logi Analytics, Inc. TIBCO Software, Inc.

Snapshot img

Business Intelligence (BI) Market Size 2025-2029

The business intelligence (bi) market size is forecast to increase by USD 18.56 billion, at a CAGR of 10.7% between 2024 and 2029.

The market is experiencing significant growth, driven by the increasing adoption of advanced analytical tools that enable organizations to make data-driven decisions. The Internet of Things (IoT) is also driving the market, as organizations seek to leverage real-time data from connected devices. This trend is further fueled by the rising number of mergers and acquisitions, as companies seek to expand their capabilities and gain a competitive edge. However, the market faces challenges, including the growing concern for data privacy and security. As businesses collect and analyze larger amounts of data, ensuring its protection becomes increasingly important. Companies must invest in robust security measures to mitigate risks and maintain customer trust.
To capitalize on market opportunities and navigate challenges effectively, organizations should focus on implementing best practices for data security and privacy, while continuing to explore the latest analytical tools and technologies. By doing so, they can gain valuable insights from their data, improve operational efficiency, and make informed strategic decisions.

What will be the Size of the Business Intelligence (BI) Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
Request Free Sample

The market dynamics continue to evolve, integrating various technologies to optimize operational efficiency and drive insights across sectors. Data transformation, a key component, encompasses metadata management, data federation, data quality, real-time analytics, and strategic planning. These elements seamlessly integrate to enhance data virtualization, discovery, and governance frameworks, ensuring data privacy regulations and compliance standards are met. Advanced analytics, including machine learning models and predictive analytics, enable data exploration and data lineage tracking, enhancing customer relationship management and risk management. Cloud-based BI and data cataloging facilitate process automation and supply chain optimization, while data visualization and natural language processing offer human resource analytics and self-service BI.

Hybrid BI solutions integrate on-premise and cloud computing, offering flexibility and scalability. Data security remains a priority, with data governance and data warehousing ensuring data is secure and accessible for business decision support. Data enrichment and data integration provide the foundation for financial reporting and reporting dashboards, while data streaming and data mining offer valuable insights for sales forecasting. The BI landscape is continually unfolding, with data privacy regulations and data compliance standards shaping market activities. Data exploration and data insights are at the forefront, driving the need for advanced analytics and data governance frameworks.

The integration of AI and Deep Learning algorithms into BI platforms is transforming the way businesses make informed decisions, enabling them to stay competitive in today's dynamic market.

How is this Business Intelligence (BI) Industry segmented?

The business intelligence (bi) industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

End-user

  BFSI
  Healthcare
  ICT
  Government
  Others


Deployment

  On-premises
  Cloud


Type

  Traditional BI
  Cloud BI
  Mobile BI
  Social BI


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  Middle East and Africa

    Egypt
    KSA
    Oman
    UAE


  APAC

    China
    India
    Japan


  South America

    Argentina
    Brazil


  Rest of World (ROW)

By End-user Insights

The BFSI segment is estimated to witness significant growth during the forecast period.

The market is experiencing significant growth and transformation as businesses increasingly rely on data-driven insights to enhance operational efficiency and gain a competitive edge. artificial intelligence (AI) and deep learning algorithms are playing an instrumental role in this evolution, enabling advanced data analytics, predictive modeling, and real-time analytics. Data transformation is a key focus area, with businesses investing in data pipelines, data integration, and data quality to ensure data accuracy and consistency. Cloud computing and on-premise BI solutions are coexisting in a hybrid environment, with cloud-based BI gaining popularity due to its flexibility and scalability. Data security is a t

The self-service business intelligence market size was valued at USD 6.79 billion in 2024 and is likely to cross USD 63.75 billion by 2037, registering more than 18.8% CAGR during the forecast period i.e., between 2025-2037. Asia Pacific industry is set to account for largest revenue share of 39% by 2037, impelled by surge in research and development efforts in the region.

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.

Check out Market Research Intellect's Business Intelligence Bi Tools Market Report, valued at USD 15.45 billion in 2024, with a projected growth to USD 30.32 billion by 2033 at a CAGR of 8.5% (2026-2033).

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 business intelligence and analytics market was valued at USD 27.20 Billion in 2019 and is expected to reach a value of USD 60.49 Billion by 2027, and register a CAGR of 11.2%. BI and analytics industry report classifies global market by share, trend, and on the basis of process type, data delive...

The market for embedded business intelligence is anticipated to be valued at US$ 28,057.6 million in 2023, forecast to grow at a CAGR of 11.2% to be valued at US$ 81,356.7 million from 2023 to 2033. Growth is attributed to high adoption of self-service analytics.

Data Points	Key Statistics
Growth Rate (2018 to 2022)	9.1% CAGR
Expected Market Value (2023)	US$ 28,057.6 million
Anticipated Forecast Value (2033)	US$ 81,356.7 million

Segment 1	Deployment
Segment 1 Name	Embedded Business Intelligence SaaS
Segment 1 Share	62.3%

Segment 2	Verticals
Segment 2 Name	Dynamic Data Management for BFSI
Segment 2 Share	15.3%

Report of Scope

Report Attribute	Details
Growth Rate	CAGR of 11.2% from 2023 to 2033
Base Year for Estimation	2022
Market Value in 2023	US$ 28,057.6 million
Market Value in 2033	US$ 81,356.7 million
Historical Data	2017 to 2022
Forecast Period	2023 to 2033
Quantitative Units	Revenue in US$ million and CAGR from 2022 to 2032
Report Coverage	Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis
Segments Covered	Deployment Services Vertical Region
Regions Covered	North America Latin America Europe Asia Pacific Middle East and Africa
Key Countries Profiled	USA Canada Brazil Mexico Germany UK France Spain Italy Australia New Zealand China Japan South Korea India Malaysia Singapore GCC South Africa Israel Turkey
Key Companies Profiled	Microstrategy Jaspersoft Pentaho Mode Analytics Looker Sisense Insightsoftware SAP Oracle QlikView
Customization	Available Upon Request

Snapshot img

Business Intelligence (BI) And Analytics Platforms Market Size 2025-2029

The business intelligence (BI) and analytics platforms market size is forecast to increase by USD 20.67 billion at a CAGR of 8.4% between 2024 and 2029.

The market is experiencing significant growth, driven by the increasing need to enhance business efficiency and productivity. This trend is particularly prominent in industries undergoing digital transformation, seeking to gain a competitive edge through data-driven insights. Furthermore, the burgeoning medical tourism industry worldwide presents a lucrative opportunity for BI and analytics platforms, as healthcare providers and insurers look to optimize patient care and manage costs. However, this market faces challenges as well.
The BI and analytics platforms market is characterized by its potential to revolutionize business operations and improve decision-making, while also presenting challenges related to data security and privacy. Companies looking to capitalize on this market's opportunities must prioritize both innovation and robust security measures to meet the evolving needs of their clients. Ensuring data confidentiality and compliance with evolving regulations is crucial for companies to maintain trust with their clients and mitigate potential risks.

What will be the Size of the Business Intelligence (BI) And Analytics Platforms Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
Request Free Sample

In the dynamic market, data integration tools play a crucial role in seamlessly merging data from various sources. Statistical modeling and machine learning algorithms are employed for deriving insights from this integrated data. Data security tools ensure the protection of sensitive information, while decision automation streamlines processes based on data-driven insights. Data discovery tools enable users to explore and understand complex data sets, and deep learning frameworks facilitate advanced analytics capabilities. Semantic search and knowledge graphs enhance data accessibility, and dashboarding tools provide real-time insights through interactive visualizations. Metadata management tools and data cataloging help manage vast amounts of data, while data virtualization tools offer a unified view of data from multiple sources.
Graph databases and federated analytics enable advanced data querying and analysis. AI-driven insights and augmented analytics offer more accurate predictions through predictive modeling and what-if analysis. Scenario planning and geospatial analytics provide valuable insights for strategic decision-making. Cloud data warehouses and streaming analytics facilitate real-time data ingestion and processing, and database administration tools ensure data quality and consistency. Edge analytics and cognitive analytics offer decentralized data processing and advanced contextual understanding, respectively. Data transformation techniques and location intelligence add value to raw data, making it more actionable for businesses. A data governance framework ensures data compliance and trustworthiness, while explainable AI (XAI) and automated reporting provide transparency and ease of use.

How is this Business Intelligence (BI) and Analytics Platforms Industry segmented?

The business intelligence (BI) and analytics platforms industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

End-user

  BFSI
  Healthcare
  ICT
  Government
  Others


Deployment

  On-premises
  Cloud


Business Segment

  Large enterprises
  SMEs


Geography

  North America

    US
    Canada
    Mexico


  Europe

    France
    Germany
    UK


  APAC

    China
    India
    Japan
    South Korea


  Rest of World (ROW)

By End-user Insights

The BFSI segment is estimated to witness significant growth during the forecast period. The market is witnessing significant growth in the BFSI sector due to the complete digitization of core business processes and the adoption of customer-centric business models. With the emergence of new financial technologies such as cashless banking, phone banking, and e-wallets, an extensive amount of digital data is generated every day. Analyzing this data provides valuable insights into system performance, customer behavior and expectations, demographic trends, and future growth areas. Business intelligence dashboards, in-memory analytics, anomaly detection, decision support systems, and KPI dashboards are essential tools used in the BFSI sector for data analysis. ETL processes, data governance, mobile BI, and forecast accuracy are other critical components of BI and a

The Business Intelligence (BI) market size was valued at USD 29.42 USD billion in 2023 and is projected to reach USD 53.78 USD billion by 2032, exhibiting a CAGR of 9.0 % during the forecast period. The increasing adoption of cloud-based BI solutions and the growing demand for data-driven insights to improve decision-making are the primary factors driving the market growth. Business intelligence (BI) is the software that feeds on the business data and then presents it in such user-friendly views as reports, dashboard, charts, and graphs. The businesses study the data to obtain actionable insights and inform themselves in decision-making. Business intelligence tools allow users to work with different types of data - historical and current, third-party and in-house, as well as semi-structured data and unstructured data like social media. Through this, users can discover valuable insights as to how the business is doing. Business intelligence is a general name that embraces data mining, process analysis, performance benchmarking, and descriptive analytics. BI not only processes all the business data but also offers reports, performance indicators, and trends that are easily understood by management hence helping to make decisions. Recent developments include: In June 2023, ThoughtSpot, an AI-powered analytics firm, acquired Mode Analytics, a business intelligence company, to expand ThoughtSpot’s presence in India and double the customer base., In May 2023, Qlik acquired Talend for expanding the company’s capabilities for modern enterprises to transform, trust, access, analyze, and take action with data., In January 2023, Microsoft announced Power BI in Microsoft Teams for improved experiences. The announcements come with three new features, rich broadcast cards for Chat in Microsoft Teams, an update for legacy Power BI tabs for Channels 2.0, and listening and learning from experiences and requirements. , In December 2022, Tableau launched its upgraded Tableau 2022.4 for business users and analysts to explore insights. It automates developing, analyzing, and communicating insights with data stories such as Data Change Radar, Data guide, and Explain the Viz., In November 2022, Qlik launched a new cloud-based data integration platform. The advanced platform as a service combines catalog capabilities and data preparation in a single place. The new integration enables real-time data analysis for organizations. The advanced platform includes a range of services that form a data fabric unification of services to connect data sources that allow an organization to have an integrated view of its data., In October 2022, Mode Analytics announced its partnership with Dbt Labs to reveal the launch of the new Semantic Layer of Dbt. Mode Analytics deep integration and Dbt Semantic Layer enables governed, consistent metrics instantaneously accessible for exploration without any code. Thus, it allows organizations to define and manage their key business metrics consistently., In October 2022, Oracle enhanced inclusive and incorporated data and analytics facilities to empower corporate users. With the new abilities in Oracle Fusion Analytics over ERP, CX, HCM, and SCM analytics, corporate users can now use dashboards, KPIs, and reports to evaluate performance over strategic goals.. Key drivers for this market are: Increasing Usage of Integrated BI Systems to Augment the Market Growth . Potential restraints include: Difficulties in Abstracting Data from Third-party Systems due to Poor Data Quality Hinder the Market Growth. Notable trends are: Growing Popularity of Continuous Intelligence to Propel Market Growth.