Business Intelligence Market by Component, Data Type, Deployment, Application, End-User

List of Tables

The Business Intelligence Market was valued at USD 27.26 billion in 2023, expected to reach USD 30.17 billion in 2024, and is projected to grow at a CAGR of 10.76%, to USD 55.76 billion by 2030.

As a Market Research Analyst at 360iResearch in the realm of Business Intelligence, your key responsibility is to navigate the expansive landscape of data and translate it into actionable insights. The necessity and application of market research lie in its ability to guide strategic business decisions, offering a crucial lens to understand consumer behavior, market dynamics, and competitive landscapes. The end-use scope covers various industries, from technology and healthcare to finance and retail, targeting stakeholders like decision-makers, product developers, and marketing strategists. One of the primary growth factors influencing the market is the surge in demand for data-driven decision-making, compounded by advancements in artificial intelligence and machine learning, which enhance the accuracy and efficiency of market analysis. Emerging opportunities exist in niche sectors such as personalized consumer experiences and the growing trend of sustainability, where businesses can capitalise on shifting consumer preferences. To capture these opportunities, businesses should invest in robust data analytics platforms and foster collaborations with tech innovators. However, the market faces limitations and challenges in the form of data privacy concerns, high implementation costs, and rapidly changing consumer tastes, which businesses must navigate carefully. Innovation and research areas brimming with potential include predictive analytics, sentiment analysis, and blockchain for secure data transactions. In these domains, businesses can derive new insights or improve existing processes, leading to competitive advantages. The nature of the market is highly dynamic, constantly reshaped by technological advancements and evolving consumer expectations. Therefore, adaptability and agility are critical for companies to sustain growth. By prioritizing continuous learning and integrating the latest technological tools, businesses can stay ahead of market trends and drive substantial business growth in the competitive landscape.

KEY MARKET STATISTICS
Base Year [2023]	USD 27.26 billion
Estimated Year [2024]	USD 30.17 billion
Forecast Year [2030]	USD 55.76 billion
CAGR (%)	10.76%

Market Dynamics: Unveiling Key Market Insights in the Rapidly Evolving Business Intelligence Market

The Business Intelligence Market is undergoing transformative changes driven by a dynamic interplay of supply and demand factors. Understanding these evolving market dynamics prepares business organizations to make informed investment decisions, refine strategic decisions, and seize new opportunities. By gaining a comprehensive view of these trends, business organizations can mitigate various risks across political, geographic, technical, social, and economic domains while also gaining a clearer understanding of consumer behavior and its impact on manufacturing costs and purchasing trends.

Market Drivers
- Rising application of self-service BI tools
- Government support for adoption of cloud and advanced analytics
- Growing adoption of the Internet of Things (IoT) in the production process and Industry 4.0
Market Restraints
- Lack of skilled professionals with expertise in data analytics and business intelligence
Market Opportunities
- Technological advancements in business intelligence
- Increase in the adoption of data-oriented business models by small, medium, and large organizations
Market Challenges
- Concerns regarding data security and privacy

Porter's Five Forces: A Strategic Tool for Navigating the Business Intelligence Market

Porter's five forces framework is a critical tool for understanding the competitive landscape of the Business Intelligence Market. It offers business organizations with a clear methodology for evaluating their competitive positioning and exploring strategic opportunities. This framework helps businesses assess the power dynamics within the market and determine the profitability of new ventures. With these insights, business organizations can leverage their strengths, address weaknesses, and avoid potential challenges, ensuring a more resilient market positioning.

PESTLE Analysis: Navigating External Influences in the Business Intelligence Market

External macro-environmental factors play a pivotal role in shaping the performance dynamics of the Business Intelligence Market. Political, Economic, Social, Technological, Legal, and Environmental factors analysis provides the necessary information to navigate these influences. By examining PESTLE factors, businesses can better understand potential risks and opportunities. This analysis enables business organizations to anticipate changes in regulations, consumer preferences, and economic trends, ensuring they are prepared to make proactive, forward-thinking decisions.

Market Share Analysis: Understanding the Competitive Landscape in the Business Intelligence Market

A detailed market share analysis in the Business Intelligence Market provides a comprehensive assessment of vendors' performance. Companies can identify their competitive positioning by comparing key metrics, including revenue, customer base, and growth rates. This analysis highlights market concentration, fragmentation, and trends in consolidation, offering vendors the insights required to make strategic decisions that enhance their position in an increasingly competitive landscape.

FPNV Positioning Matrix: Evaluating Vendors' Performance in the Business Intelligence Market

The Forefront, Pathfinder, Niche, Vital (FPNV) Positioning Matrix is a critical tool for evaluating vendors within the Business Intelligence Market. This matrix enables business organizations to make well-informed decisions that align with their goals by assessing vendors based on their business strategy and product satisfaction. The four quadrants provide a clear and precise segmentation of vendors, helping users identify the right partners and solutions that best fit their strategic objectives.

Strategy Analysis & Recommendation: Charting a Path to Success in the Business Intelligence Market

A strategic analysis of the Business Intelligence Market is essential for businesses looking to strengthen their global market presence. By reviewing key resources, capabilities, and performance indicators, business organizations can identify growth opportunities and work toward improvement. This approach helps businesses navigate challenges in the competitive landscape and ensures they are well-positioned to capitalize on newer opportunities and drive long-term success.

Key Company Profiles

The report delves into recent significant developments in the Business Intelligence Market, highlighting leading vendors and their innovative profiles. These include Alteryx Inc., Cisco Systems Inc., Databricks, Domo, Inc., GoodData Corporation, Google LLC By Alphabet Inc., Hitachi Vantara LLC, IBM Corporation, Koch Industries, Inc., Microsoft Corporation, MicroStrategy, Inc., Oracle Corporation, Panorama Software, QlikTech International AB, RACKSPACE TECHNOLOGY, Salesforce, Inc., SAP SE, SAS Institute Inc., Sisense Inc., TARGIT A/S, ThoughtSpot, Inc., TIBCO Software Inc., VMware Inc., and Yellowfin International Pty Ltd.

Market Segmentation & Coverage

This research report categorizes the Business Intelligence Market to forecast the revenues and analyze trends in each of the following sub-markets:

Based on Component, market is studied across Platform, Services, and Software. The Services is further studied across Consulting Services, Support & Maintenance, and System Deployment & Integration.
Based on Data Type, market is studied across Semi-Structured Data, Structured Data, and Unstructured Data.
Based on Deployment, market is studied across On-Demand and On-Premises.
Based on Application, market is studied across Fraud Detection & Security Management, Network Management & Optimization, Operations Management, Predictive Asset Maintenance, Sales & Marketing Management, Supply Chain Optimization, and Workforce Management.
Based on End-User, market is studied across BFSI, Healthcare & Lifescience, Manufacturing, Retail, Telecommunication & IT, and Transportation & Logistics.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom.

The report offers a comprehensive analysis of the market, covering key focus areas:

1. Market Penetration: A detailed review of the current market environment, including extensive data from top industry players, evaluating their market reach and overall influence.

2. Market Development: Identifies growth opportunities in emerging markets and assesses expansion potential in established sectors, providing a strategic roadmap for future growth.

3. Market Diversification: Analyzes recent product launches, untapped geographic regions, major industry advancements, and strategic investments reshaping the market.

4. Competitive Assessment & Intelligence: Provides a thorough analysis of the competitive landscape, examining market share, business strategies, product portfolios, certifications, regulatory approvals, patent trends, and technological advancements of key players.

5. Product Development & Innovation: Highlights cutting-edge technologies, R&D activities, and product innovations expected to drive future market growth.

The report also answers critical questions to aid stakeholders in making informed decisions:

1. What is the current market size, and what is the forecasted growth?

2. Which products, segments, and regions offer the best investment opportunities?

3. What are the key technology trends and regulatory influences shaping the market?

4. How do leading vendors rank in terms of market share and competitive positioning?

5. What revenue sources and strategic opportunities drive vendors' market entry or exit strategies?

Product Code: MRR-587D457878B7

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Rising application of self-service BI tools
  - 5.1.1.2. Government support for adoption of cloud and advanced analytics
  - 5.1.1.3. Growing adoption of the Internet of Things (IoT) in the production process and Industry 4.0
- 5.1.2. Restraints
  - 5.1.2.1. Lack of skilled professionals with expertise in data analytics and business intelligence
- 5.1.3. Opportunities
  - 5.1.3.1. Technological advancements in business intelligence
  - 5.1.3.2. Increase in the adoption of data-oriented business models by small, medium, and large organizations
- 5.1.4. Challenges
  - 5.1.4.1. Concerns regarding data security and privacy
5.2. Market Segmentation Analysis
5.3. Porter's Five Forces Analysis
- 5.3.1. Threat of New Entrants
- 5.3.2. Threat of Substitutes
- 5.3.3. Bargaining Power of Customers
- 5.3.4. Bargaining Power of Suppliers
- 5.3.5. Industry Rivalry
5.4. PESTLE Analysis
- 5.4.1. Political
- 5.4.2. Economic
- 5.4.3. Social
- 5.4.4. Technological
- 5.4.5. Legal
- 5.4.6. Environmental

6. Business Intelligence Market, by Component

6.1. Introduction
6.2. Platform
6.3. Services
- 6.3.1. Consulting Services
- 6.3.2. Support & Maintenance
- 6.3.3. System Deployment & Integration
6.4. Software

7. Business Intelligence Market, by Data Type

7.1. Introduction
7.2. Semi-Structured Data
7.3. Structured Data
7.4. Unstructured Data

8. Business Intelligence Market, by Deployment

8.1. Introduction
8.2. On-Demand
8.3. On-Premises

9. Business Intelligence Market, by Application

9.1. Introduction
9.2. Fraud Detection & Security Management
9.3. Network Management & Optimization
9.4. Operations Management
9.5. Predictive Asset Maintenance
9.6. Sales & Marketing Management
9.7. Supply Chain Optimization
9.8. Workforce Management

10. Business Intelligence Market, by End-User

10.1. Introduction
10.2. BFSI
10.3. Healthcare & Lifescience
10.4. Manufacturing
10.5. Retail
10.6. Telecommunication & IT
10.7. Transportation & Logistics

11. Americas Business Intelligence Market

11.1. Introduction
11.2. Argentina
11.3. Brazil
11.4. Canada
11.5. Mexico
11.6. United States

12. Asia-Pacific Business Intelligence Market

12.1. Introduction
12.2. Australia
12.3. China
12.4. India
12.5. Indonesia
12.6. Japan
12.7. Malaysia
12.8. Philippines
12.9. Singapore
12.10. South Korea
12.11. Taiwan
12.12. Thailand
12.13. Vietnam

13. Europe, Middle East & Africa Business Intelligence Market

13.1. Introduction
13.2. Denmark
13.3. Egypt
13.4. Finland
13.5. France
13.6. Germany
13.7. Israel
13.8. Italy
13.9. Netherlands
13.10. Nigeria
13.11. Norway
13.12. Poland
13.13. Qatar
13.14. Russia
13.15. Saudi Arabia
13.16. South Africa
13.17. Spain
13.18. Sweden
13.19. Switzerland
13.20. Turkey
13.21. United Arab Emirates
13.22. United Kingdom

14. Competitive Landscape

14.1. Market Share Analysis, 2023
14.2. FPNV Positioning Matrix, 2023
14.3. Competitive Scenario Analysis
14.4. Strategy Analysis & Recommendation

Companies Mentioned

1. Alteryx Inc.
2. Cisco Systems Inc.
3. Databricks
4. Domo, Inc.
5. GoodData Corporation
6. Google LLC By Alphabet Inc.
7. Hitachi Vantara LLC
8. IBM Corporation
9. Koch Industries, Inc.
10. Microsoft Corporation
11. MicroStrategy, Inc.
12. Oracle Corporation
13. Panorama Software
14. QlikTech International AB
15. RACKSPACE TECHNOLOGY
16. Salesforce, Inc.
17. SAP SE
18. SAS Institute Inc.
19. Sisense Inc.
20. TARGIT A/S
21. ThoughtSpot, Inc.
22. TIBCO Software Inc.
23. VMware Inc.
24. Yellowfin International Pty Ltd