Reliable Data You Can Trust
Reliable Data You Can Trust
A recent report published by Infinium Global Research on the business intelligence platform market provides an in-depth analysis of segments and sub-segments in the global as well as regional business intelligence platform market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional business intelligence platform market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global business intelligence platform market. According to the report, the global business intelligence platform market is projected to grow at a CAGR of 9% over the forecast period of 2022-2028, growing from nearly USD 26 billion in 2022 to about USD 43 billion in 2028.
The development of the software sector depends heavily on business intelligence platform technologies. Leading merchants are putting a lot of money into technology development. By optimizing prices to match current trends, better understanding customer demands, delivering a better shopping experience for customers, and enhancing profits by identifying and analyzing impending trends, business intelligence solutions can help merchants increase their sales per visit. A business intelligence platform can give an organization a comprehensive view of its data, correlations with its sales data, analysis of patterns, and outlier recognition through user-friendly dashboards and visually appealing data.
It is anticipated that the use of business intelligence technology will expand as cloud-based services become more widely used. Complex data becomes fragmented, which encourages the use of efficient data management tools that speed up information gathering. The increasing use of the internet of things IoT services results in the gathering of enormous amounts of data. Analysts heavily rely on BI to assist businesses in making wise judgments. Additionally, the proliferation of social media platforms and big data has made data analytics software necessary. Business intelligence technology also aids organizations in enhancing their operations and surviving the fiercely competitive industry. These elements will probably fuel the market for corporate intelligence. But it's anticipated that expensive startup costs for BI infrastructure will impede the market growth.
The Global Business Intelligence Software Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. The widespread adoption of BI applications and digitalization across numerous industries are responsible for this domination of North America. The rate of use for business intelligence has doubled as a result of the widespread adoption of cloud computing. Major cloud BI software vendors' presence in North America is anticipated to fuel the market's regional expansion. Due to the increase in demand in rising economies like China and India, the Asia Pacific is anticipated to grow at the quickest rate. Some of the key aspects of the expansion of the Asia Pacific regional market include the significant uptake of BI software and tools, outsourcing activities for cloud deployment, and need for customer insights. In order to maintain their competitiveness in the market, organizations in the region are concentrating on improving their management system and increasing overall efficiency. Over the course of the forecast period, this is anticipated to offer profitable business prospects for those working in the BI software industry.
The report on the global business intelligence platform market covers segments such as technology, function, tool, deployment, and end-use. On the basis of technology, the sub-markets include cloud business intelligence, mobile business intelligence, social business intelligence, and traditional business intelligence. On the basis of function, the sub-markets include executive management, finance, information and deployment, and sales and marketing. On the basis of tools, the sub-markets include dashboards & scoreboards, OLAP & visualization tools, predictive analysis, and query, reporting & search tools. On the basis of deployment, the sub-markets include on-premise, and hosted. On the basis of end-use, the sub-markets include BFSI, government, healthcare, IT & telecom, manufacturing, media & entertainment, and others.
The report provides profiles of the companies in the market such as TIBCO Software, MICROSTRATEGY INCORPORATED, TABLEAU SOFTWARE, LLC, Open Text Corporation, IBM Corporation, Oracle, Microsoft Corporation, SAP SE, SAS Institute Inc., and Sisense Ltd..
The report provides deep insights into demand forecasts,
market trends, and micro and macro indicators. In addition, this report
provides insights into the factors that are driving and restraining the growth
in this market. Moreover, The IGR-Growth Matrix analysis given in the report
brings insight into the investment areas that existing or new market players
can consider. The report provides insights into the market using analytical
tools such as Porter's five forces analysis and DRO analysis of the business
intelligence platform market. Moreover, the study highlights current market
trends and provides forecasts from 2022-2028. We also have highlighted future
trends in the market that will affect the demand during the forecast period.
Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players.
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