Market Research Report
Global Business Intelligence Market - Technologies, Market share and Industry Forecast to 2024
|Published by||Occams Business Research & Consulting Pvt. Ltd.||Product code||368913|
|Published||Content info||240 Pages
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|Global Business Intelligence Market - Technologies, Market share and Industry Forecast to 2024|
|Published: August 29, 2016||Content info: 240 Pages||
Business Intelligence also known as advanced analytics, it is a technology-aided process through which software analyses data to predictions related to predictive analytics and approach known as prescriptive analytics. Global Business Intelligence (BI) market is expected to rise with a CAGR of 9.5% during forecast period 2017-2024. Dynamic business environment demands high level strategic analysis, shifted focus towards data driven marketing, rising predictive analytics market, stakeholders demand for better performance management, rising adoption to leverage big data capabilities and growing in internet penetration are factors boosting the growth of the market. However, high level of complexity in BI adoption, lack of tools with cross organizational capabilities and high initial investment are the factors restraining the market growth. Market seems to be opportunistic due to emergence of BYOD concept compels growth in mobile business intelligence, social business intelligence: unleashing the power of social media in business, expanding market in small business and midsized enterprise segment, emergence of IOT leads to big data and advancement in cloud computing opening up new opportunities. Challenge faced by the market is interoperability and standard interface related to BI.
Geographically, the report is segmented into North America, Asia Pacific, Europe and Rest of World. North America held the largest market share of around 56%. However, it has been anticipated that during the forecast period of 2017-2024, majority of the growth is anticipated in APAC region owing to large population base, rising demands from end user industries and increasing innovations by countries such as China, India, Vietnam, Indonesia etc.
Global business intelligence market is segmented on the basis of types, deployment, technology and end users. On the basis of types, the market is segmented as BI platforms, advanced and predictive analytics, analytics application & performance management and CPM suites. On the basis of deployment model, the market is segmented as on premise and cloud based. However, this market share is expected to decline during the forecast period owing to high adoption rate of cloud-based BI. On the basis of technology, the market is segmented as mobile business intelligence, cloud business intelligence, social business intelligence and traditional business intelligence. The mobile business intelligence segment accounts for fastest growing market share in the global business intelligence market in 2017. The end user segment comprises of manufacturing, healthcare, energy and utilities, BFSI, transportation and distribution, IT & telecom, retail, media & entertainment, government and others.