The bi software market size has grown strongly in recent years. It will grow from $47.27 billion in 2023 to $51.85 billion in 2024 at a compound annual growth rate (CAGR) of 9.7%. The growth observed in the historical period can be attributed to factors such as the proliferation of data, effective data integration, gaining a competitive edge, and ensuring compliance with regulations.
The bi software market size is expected to see rapid growth in the next few years. It will grow to $107.16 billion in 2028 at a compound annual growth rate (CAGR) of 19.9%. The anticipated growth in the upcoming period can be ascribed to advancements in analytics and artificial intelligence (AI), self-service business intelligence (BI), cloud-based BI solutions, and real-time analytics. Key trends expected in this forecast period encompass data visualization, mobile BI applications, embedded BI functionalities, and the seamless integration of big data resources.
The business intelligence (BI) software market experiences substantial growth driven by the increasing number of data-driven projects, primarily due to the growing demand for real-time analytics. According to the International Data Group (IDG), nearly 69% of businesses are either planning or already implementing data-driven projects to enhance various aspects of their operations, such as production, sales, decision-making, and strategic business planning. Companies within the industry are utilizing BI software to predict consumer behavior and engagement, as exemplified by Starbucks, which uses BI software alongside customer relationship management (CRM) software to forecast customer purchasing behavior.
The primary categories of BI software encompass structured data, unstructured data, and semi-structured data. Structured data BI software, in particular, is adept at aggregating vast volumes of unstructured data from diverse sources and converting it into actionable intelligence. These BI solutions offer diverse deployment options, ranging from cloud-based setups to on-premise implementations. They cater to various industries, including BFSI, telecommunications, IT, retail and consumer goods, health and life sciences, and manufacturing, helping them unlock the potential within their data for better decision-making.
The business intelligence (BI) software market research report is one of a series of new reports that provides business intelligence (BI) software market statistics, including business intelligence (BI) software industry global market size, regional shares, competitors with a business intelligence (BI) software market share, detailed business intelligence (BI) software market segments, market trends and opportunities, and any further data you may need to thrive in the business intelligence (BI) software industry. This business intelligence (BI) software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The growth of the business intelligence (BI) software market is expected to be propelled by the expanding presence of small, medium, and large enterprises. These categories of businesses, varying in size and operational scale, frequently use BI software to collect, analyze, and convert data into actionable insights that enhance their performance and competitive edge. For instance, reports from May 2021 indicate that the United Kingdom had approximately 5.47 million small businesses and around 35,940 medium-sized businesses in 2022. Additionally, there were 2,765 small and medium businesses in 2021, which increased to 2,768 in 2022. This rise in the number of enterprises, across different scales, is a driving force behind the growth of the business intelligence (BI) software market.
The European Union has introduced the General Data Protection Regulation (GDPR), which significantly impacts the business intelligence (BI) software market by emphasizing principles of data protection, data minimization, data retention, and confidentiality. This regulation places a strong emphasis on the security and safeguarding of consumer data, allowing only a minimal amount of personal information to be accessed while restricting complete data extraction. GDPR rules in areas like data storage limitations and data minimization may influence the BI software market in terms of data analysis and accuracy.
End-user industries are increasingly embracing cloud-based business intelligence (BI) tools to enhance security and accessibility, leveraging the advantages of economies of scale. Cloud-based BI software operates as a virtual network accessible through internet connections hosted on vendor servers, offering efficient device connectivity. This approach provides businesses with cost-effectiveness, minimal hardware investment, quick implementation, and other benefits. An August 2021 study by Flexera, a USA-based computer software company, reported that over 50% of enterprises invest between $1.2 million and $2.4 million in cloud technologies, with 38% spending more than $2.4 million.
Major companies in the business intelligence (BI) software market are spearheading innovative technologies like IBM Business Analytics Enterprise to address data silos and fragmented analytics tool challenges. IBM Business Analytics Enterprise represents an AI-powered, all-in-one business analytics platform, facilitating data integration, preparation, visualization, AI-driven insights and recommendations, and competitive advantages. In November 2022, International Business Machines Corporation (IBM), a prominent US-based technology corporation, launched IBM Business Analytics Enterprise to assist businesses in eliminating data silos and gaining a unified data perspective, enabling faster, data-driven decision-making.
In May 2021, EPAM Systems, a USA-based provider of custom software solutions, executed the acquisition of Just-BI BV, a Netherlands-based business intelligence (BI) software market provider, for an undisclosed amount. EPAM Systems' strategic acquisition aims to bolster its extensive portfolio of data and analytics services, expanding its capabilities within the BI domain.
Major companies operating in the bi software market include SAP SE, Oracle Corp., JDA Software Group Inc., Infor Global Solutions, Manhattan Associates Inc., Infor Nexus, Descartes Systems Group, IBM Corporation, Kinaxis Inc., High Jump Software, Epicor Software Corporation, Kewill Systems PLC, BluJay Solutions, Indian Foreign Service, Verizon Connect Inc., SPS Commerce Inc., Dassault Systemes, Coupa Software Inc., Basware, WiseTech Global Ltd., e2open Software Co., Jaggaer, GEP Software Co., Zycus Software Co., Plex Manufacturing Cloud, QAD Inc., Sage US, Vanguard Software, Quintiq, Unit4, Rackspace US Inc., Microsoft Corporation, Cisco Systems Inc., GoodData Corporation, Targit AS, VMware Inc., Tableau Software Inc., Google LLC, Open Text Corporation, MicroStrategy Incorporated, QlikTech International AB, Information Builders Inc., Tibco Software Inc., Salesforce.com Inc.
North America was the largest region in the business intelligence (bi) software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the business intelligence (bi) software market during the forecast period. The regions covered in the bi software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the bi software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada
The business intelligence (BI) software market includes revenues earned by entities by developing and distributing software that enables users to project information, visualize data, derive insights, improve business operations and make strategic business decisions. The components of business intelligence are source data, data warehouse, and online analytical processing (OLAP), visualizations, dashboards, and extract, transform, load (ETL) processes. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this business intelligence (BI) software market includes related services sold by the creators of the goods. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The bi software market size is expected to see rapid growth in the next few years. It will grow to $107.16 billion in 2028 at a compound annual growth rate (CAGR) of 19.9%. The anticipated growth in the upcoming period can be ascribed to advancements in analytics and artificial intelligence (AI), self-service business intelligence (BI), cloud-based BI solutions, and real-time analytics. Key trends expected in this forecast period encompass data visualization, mobile BI applications, embedded BI functionalities, and the seamless integration of big data resources.
The business intelligence (BI) software market experiences substantial growth driven by the increasing number of data-driven projects, primarily due to the growing demand for real-time analytics. According to the International Data Group (IDG), nearly 69% of businesses are either planning or already implementing data-driven projects to enhance various aspects of their operations, such as production, sales, decision-making, and strategic business planning. Companies within the industry are utilizing BI software to predict consumer behavior and engagement, as exemplified by Starbucks, which uses BI software alongside customer relationship management (CRM) software to forecast customer purchasing behavior.
The primary categories of BI software encompass structured data, unstructured data, and semi-structured data. Structured data BI software, in particular, is adept at aggregating vast volumes of unstructured data from diverse sources and converting it into actionable intelligence. These BI solutions offer diverse deployment options, ranging from cloud-based setups to on-premise implementations. They cater to various industries, including BFSI, telecommunications, IT, retail and consumer goods, health and life sciences, and manufacturing, helping them unlock the potential within their data for better decision-making.
The business intelligence (BI) software market research report is one of a series of new reports that provides business intelligence (BI) software market statistics, including business intelligence (BI) software industry global market size, regional shares, competitors with a business intelligence (BI) software market share, detailed business intelligence (BI) software market segments, market trends and opportunities, and any further data you may need to thrive in the business intelligence (BI) software industry. This business intelligence (BI) software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The growth of the business intelligence (BI) software market is expected to be propelled by the expanding presence of small, medium, and large enterprises. These categories of businesses, varying in size and operational scale, frequently use BI software to collect, analyze, and convert data into actionable insights that enhance their performance and competitive edge. For instance, reports from May 2021 indicate that the United Kingdom had approximately 5.47 million small businesses and around 35,940 medium-sized businesses in 2022. Additionally, there were 2,765 small and medium businesses in 2021, which increased to 2,768 in 2022. This rise in the number of enterprises, across different scales, is a driving force behind the growth of the business intelligence (BI) software market.
The European Union has introduced the General Data Protection Regulation (GDPR), which significantly impacts the business intelligence (BI) software market by emphasizing principles of data protection, data minimization, data retention, and confidentiality. This regulation places a strong emphasis on the security and safeguarding of consumer data, allowing only a minimal amount of personal information to be accessed while restricting complete data extraction. GDPR rules in areas like data storage limitations and data minimization may influence the BI software market in terms of data analysis and accuracy.
End-user industries are increasingly embracing cloud-based business intelligence (BI) tools to enhance security and accessibility, leveraging the advantages of economies of scale. Cloud-based BI software operates as a virtual network accessible through internet connections hosted on vendor servers, offering efficient device connectivity. This approach provides businesses with cost-effectiveness, minimal hardware investment, quick implementation, and other benefits. An August 2021 study by Flexera, a USA-based computer software company, reported that over 50% of enterprises invest between $1.2 million and $2.4 million in cloud technologies, with 38% spending more than $2.4 million.
Major companies in the business intelligence (BI) software market are spearheading innovative technologies like IBM Business Analytics Enterprise to address data silos and fragmented analytics tool challenges. IBM Business Analytics Enterprise represents an AI-powered, all-in-one business analytics platform, facilitating data integration, preparation, visualization, AI-driven insights and recommendations, and competitive advantages. In November 2022, International Business Machines Corporation (IBM), a prominent US-based technology corporation, launched IBM Business Analytics Enterprise to assist businesses in eliminating data silos and gaining a unified data perspective, enabling faster, data-driven decision-making.
In May 2021, EPAM Systems, a USA-based provider of custom software solutions, executed the acquisition of Just-BI BV, a Netherlands-based business intelligence (BI) software market provider, for an undisclosed amount. EPAM Systems' strategic acquisition aims to bolster its extensive portfolio of data and analytics services, expanding its capabilities within the BI domain.
Major companies operating in the bi software market include SAP SE, Oracle Corp., JDA Software Group Inc., Infor Global Solutions, Manhattan Associates Inc., Infor Nexus, Descartes Systems Group, IBM Corporation, Kinaxis Inc., High Jump Software, Epicor Software Corporation, Kewill Systems PLC, BluJay Solutions, Indian Foreign Service, Verizon Connect Inc., SPS Commerce Inc., Dassault Systemes, Coupa Software Inc., Basware, WiseTech Global Ltd., e2open Software Co., Jaggaer, GEP Software Co., Zycus Software Co., Plex Manufacturing Cloud, QAD Inc., Sage US, Vanguard Software, Quintiq, Unit4, Rackspace US Inc., Microsoft Corporation, Cisco Systems Inc., GoodData Corporation, Targit AS, VMware Inc., Tableau Software Inc., Google LLC, Open Text Corporation, MicroStrategy Incorporated, QlikTech International AB, Information Builders Inc., Tibco Software Inc., Salesforce.com Inc.
North America was the largest region in the business intelligence (bi) software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the business intelligence (bi) software market during the forecast period. The regions covered in the bi software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the bi software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada
The business intelligence (BI) software market includes revenues earned by entities by developing and distributing software that enables users to project information, visualize data, derive insights, improve business operations and make strategic business decisions. The components of business intelligence are source data, data warehouse, and online analytical processing (OLAP), visualizations, dashboards, and extract, transform, load (ETL) processes. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this business intelligence (BI) software market includes related services sold by the creators of the goods. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. BI Software Market Characteristics3. BI Software Market Trends And Strategies31. Global BI Software Market Competitive Benchmarking32. Global BI Software Market Competitive Dashboard33. Key Mergers And Acquisitions In The BI Software Market
4. BI Software Market - Macro Economic Scenario
5. Global BI Software Market Size and Growth
6. BI Software Market Segmentation
7. BI Software Market Regional And Country Analysis
8. Asia-Pacific BI Software Market
9. China BI Software Market
10. India BI Software Market
11. Japan BI Software Market
12. Australia BI Software Market
13. Indonesia BI Software Market
14. South Korea BI Software Market
15. Western Europe BI Software Market
16. UK BI Software Market
17. Germany BI Software Market
18. France BI Software Market
19. Italy BI Software Market
20. Spain BI Software Market
21. Eastern Europe BI Software Market
22. Russia BI Software Market
23. North America BI Software Market
24. USA BI Software Market
25. Canada BI Software Market
26. South America BI Software Market
27. Brazil BI Software Market
28. Middle East BI Software Market
29. Africa BI Software Market
30. BI Software Market Competitive Landscape And Company Profiles
34. BI Software Market Future Outlook and Potential Analysis
35. Appendix
Executive Summary
BI Software Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on bi software market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
- Assess the Russia - Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
- All data from the report will also be delivered in an excel dashboard format.
Description:
Where is the largest and fastest growing market for bi software? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
- Markets Covered: 1) By Type: Unstructured Data; Semi Structured Data; Structured Data; 2) By Deployment: On-Premise; On-Cloud ; 3) By Application: BFSI; Telecomm; IT; Retail and Consumer Goods; Healthcare and Life sciences; Manufacturing
- Companies Mentioned: SAP SE; Oracle Corp.; JDA Software Group Inc.; Infor Global Solutions; Manhattan Associates Inc.
- Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
- Data segmentations: Country and regional historic and forecast data, market share of competitors, market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
- Delivery format: PDF, Word and Excel Data Dashboard.
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- SAP SE
- Oracle Corp.
- JDA Software Group Inc.
- Infor Global Solutions
- Manhattan Associates Inc.
- Infor Nexus
- Descartes Systems Group
- IBM Corporation
- Kinaxis Inc.
- High Jump Software
- Epicor Software Corporation
- Kewill Systems Plc
- BluJay Solutions
- Indian Foreign Service
- Verizon Connect Inc.
- SPS Commerce Inc.
- Dassault Systemes
- Coupa Software Inc.
- Basware
- WiseTech Global Ltd.
- e2open Software Co.
- Jaggaer
- GEP Software Co.
- Zycus Software Co.
- Plex Manufacturing Cloud
- QAD Inc.
- Sage US
- Vanguard Software
- Quintiq
- Unit4
- Rackspace US Inc.
- Microsoft Corporation
- Cisco Systems Inc.
- GoodData Corporation
- Targit AS
- VMware Inc.
- Tableau Software Inc.
- Google LLC
- Open Text Corporation
- MicroStrategy Incorporated
- QlikTech International AB
- Information Builders Inc.
- Tibco Software Inc.
- Salesforce.com Inc.
Methodology
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