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Business Intelligence Software Market Analysis Report By Technology, By Function, By Tool, By Deployment, By Enterprise Size, By End Use, By Region And Segment Forecasts From 2019 To 2025

Report ID: MN17619938  |  Published: July 2020  |  No of Pages: 120
Format: Electronic (PDF)  |  Industry: Software

Industry Insights

The business intelligence (BI) software market size across the globe was valued at USD 24.9 billion in 2018. It is projected to witness significant growth with a 10.1% CAGR over the forecasted years, 2019 to 2025.  This can be attributed to the shifting trend towards the adoption of technologies like Big Data prevailing across several organizations for organizing external and internal datasets.

Such software allows business owners to take strategic decisions as per the ongoing consumer patterns and market trends. A majority of large organizations own ERP or CRM applications which provide them access to large amounts of data. This data can be stored as an inventory with the help of BI software. Moreover, the rising adoption of technologies like data analytics is also projected to drive the market growth of BI software over the forecasted period.

U.S. business intelligence software market

The emergence of the e-commerce industry and data-based business models for all enterprises have contributed majorly to the development of BI tools. For example, prominent restaurant chains across the U.S. like Ruby Tuesday and Wendy’s have started adopting this BI software to boost their relationship with customers.

But, the costs incurred for installations and gaining licenses of this software are anticipated to hinder the market growth. The prices of such software largely depend on the conditions of the market at a particular time and not on developments being carried out in them. Also, the cost and time incurred in training employees about the usage of such BI software are anticipated to restrict the market growth to some extent in the upcoming years.

Technology Insights

The segment of cloud business intelligence held a significant share across the global market in 2018. This can be associated with its feature of offering predictive maintenance to the clients that cover expenses required for solving software and hardware problems. Moreover, features like easy installation and remote access to the data from laptops, mobiles, or desktops are projected to drive the market growth for this segment.

The segment of social business intelligence is also projected to gain substantial growth on account of rising future access provided to the generated information. For example, data related to the outcomes for the treatment of patients, several treatment plans, and hospitalization expenses can be accessed using healthcare’s social business intelligence software. Moreover, surging usage of social media platforms like Facebook, Instagram, and Twitter are projected to drive the demand for such software in the upcoming years.

Function Insights

In 2018, the finance segment held the largest share across the global BI software market and generated revenue of USD 7.6 billion. This can be attributed to the rising usage of these tools for processing, analyzing, and collecting financial data that can help in guiding many business-oriented decisions. Moreover, it also provides key insights related to future financial forecasts thereby allowing the organizations to calculate the risks.

The executive management segment is also projected to register significant growth in the upcoming years. This can be attributed to the surging adoption of such software in taking strategic decisions. The decisions are taken at the managerial level make use of this BI software, thereby driving their demand across several sectors.

Tools Insights

The tools segment of query, reporting & search tools held the largest share across the global market in 2018. This growth can be attributed to the rising need for raw data transportation and in-depth analysis. Moreover, the usage of search tools is gaining traction among consumers to opt for their preferred services.

The segment of dashboards & scoreboards is projected to register the fastest growth from 2019 to 2025. This can be associated with their usage for analyzing data and allowing end-users and corporate staff with ongoing business decisions. Moreover, their feature of providing visual representations of KPIs (key performance indicators) with the help of graphs, maps, and charts is gaining popularity among end-users across the globe.

Deployment Insights

The global business intelligence software market can be segmented into on-premise and hosted based on their deployment type. The on-premise deployment segment is anticipated to register significant growth in the upcoming years. This can be attributed to its features like ease of its configuration and integration on existing operational and IT systems. Moreover, enhanced flexibility for customization is also driving the demand for the on-premise deployment segment.

The hosted deployment segment allows scaling of several business applications, integration with other third-party apps and enhances the security of IT architecture. Their usage also facilitates the businesses to focus on their expansion than on the management of their IT environment. Moreover, these deployments are majorly being used by small & medium enterprises on account of their cost-effective nature.

Enterprise Size Insights

The market can be classified as large and small & medium enterprises based on enterprise size. Both segments have started adopting this software for strengthening their external and internal business processes. Several large organizations are making use of advanced analytics and data compilation tools for extracting information from real-time data. Moreover, rising demand for strategic decision-making and the need for resource allocation are also projected to drive the market growth for such software.

Several small & medium enterprises also benefit from the usage of this BI software. They are largely being used for decision-making and enhancing growth and profitability across the market. Such software also provides access to the customer’s data and helps in identifying potential buyers to such small & medium enterprises.

End-use Insights

In 2018, the BFSI end-use segment held the largest share across the global market. This can be associated with the increasing usage of such software for providing enhanced access to client databases, boosted client experience, and secured transactions. They also provide access to several financial institutions about customer data, thereby driving market growth.

Europe business intelligence software marketThe manufacturing segment is also projected to register significant growth in the upcoming years. This can be associated with the rising need for the removal of conventional approaches and replacing them with data-centric structures. Also, the declining profit margins being faced by several manufacturers on account of stringent governmental norms are driving the adoption of data-driven models for business expansion. Moreover, technological advances like IoT (Internet of Things) and Industry Revolution 4.0 are influencing several manufacturers to adopt this software.

Regional Insights

In 2018, North America held the largest share across the global market and generated revenue of USD 8.2 Billion. This can be associated with the emergence of digitalization and increased adoption of BI software across several industrial sectors. Moreover, the surging usage of cloud strategy coupled with the rising presence of several key players across this region is anticipated to drive the market growth across this region.

The Asia Pacific is projected to register the highest growth during the forecasted years, 2019 to 2025. This growth can be attributed to their rising demand across countries like India and China. Further, cloud deployment outsourcing activities and increasing demand towards the usage of customer insights for strategic planning across this region are projected to drive the demand in the upcoming years.

COVID-19 Impact Insights

The market is gaining momentum due to the ongoing COVID-19 crisis. This can be attributed to the increased usage of technologies like AI (Artificial Intelligence), AR (Augmented Reality), and VR (Virtual Reality) for addressing the issues arising during the times of pandemic. Moreover, their usage for the prediction of COVID impact in the current and future market scenarios across various sectors is gaining traction. For example, the rising need for the development of vaccines has urged several players across the healthcare and pharmaceutical sectors to make use of AI and BI software in R&D activities. Also, the usage of such software for enhancing online education is driving its demand across several major institutions. Also, their features like remote and easy access can help in reducing unnecessary travel and provide deep insights about current market scenarios.

Business Intelligence Software Market Share Insights

The key players in the market are Google, Inc.; Cloud9 Analytics; Tableau Software; Microsoft Corporation; Informatica; SAP SE; and Oracle Corporation. The emergence of the e-commerce sector across the globe has paved the way for the demand for this software.

These players are constantly engaged in product launches and updates to gain a competitive advantage over other players. They have also started investing hugely in R&Ds to develop technically BI software. For example, Microsoft Corporation has invested revenue of USD 14.7 Billion in 2018 towards the development of services and software.

Report Scope

Attribute

Details

The base year for estimation

2018

Actual estimates/Historical data

2014 - 2017

Forecast period

2019 - 2025

Market representation

Revenue in USD Billion & CAGR from 2019 to 2025

Regional Scope

North America, Europe, Asia Pacific, Latin America, and MEA

Country Scope

U.S., Canada, Germany, U.K., India, Japan, China, and Brazil

Report coverage

Revenue forecast, competitive landscape, growth factors, and trends

15% free customization scope (equivalent to 5 analyst working days)

If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of the customization

Segments Covered in the Report 

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends from 2014 to 2025 in each of the sub-segments. For this study, Million Insights has segmented the global business intelligence (BI) software market based on technology, function, tool, deployment, enterprise size, end-use, and region:

• Technology Outlook (Revenue, USD Billion, 2014 - 2025)
    • Cloud Business Intelligence
    • Mobile Business Intelligence
    • Social Business Intelligence
    • Traditional Business Intelligence

• Function Outlook (Revenue, USD Billion, 2014 - 2025)
    • Executive Management
    • Finance
    • Information and Deployment
    • Sales and Marketing

• Tool Outlook (Revenue, USD Billion, 2014 - 2025)
    • Dashboards & Scoreboards
    • OLAP & Visualization Tools
    • Predictive Analysis
    • Query, Reporting & Search Tools

• Deployment Outlook (Revenue, USD Billion, 2014 - 2025)
    • On-premise
    • Hosted

Enterprise Size Outlook (Revenue, USD Billion, 2014 - 2025)
    • Large Enterprises
    • Small & Medium Enterprises

• End-use Outlook (Revenue, USD Billion, 2014 - 2025)
    • BFSI
    • Government
    • Healthcare
    • IT & Telecom
    • Manufacturing
    • Media & Entertainment
    • Others

• Regional Outlook (Revenue, USD Billion, 2014 - 2025)
    • North America
        • U.S.
        • Canada
    • Europe
        • U.K.
        • Germany
    • the Asia Pacific
        • China
        • India
        • Japan
    • Latin America
        • Brazil
    • MEA

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