Global Business Intelligence Software Market Size of $ 35.18 Billion by 2028 at 8.45% CAGR: Verified Market Research®

The market is primarily driven by heavy use of e-commerce and an increase in the adoption of data-driven business models by small, medium and large organizations.

JERSEY CITY, NJ, December 2, 2021 / PRNewswire / – Verified Market Research recently published a report, “Business Intelligence Software Market“By department (professional services and managed service), by platform (business intelligence platform, advanced and predictive analytics, analytics application, content analysis) and by geography. According to verified market research, the size of the global business intelligence software market was valued at $ 18.33 billion in 2020 and should reach $ 35.18 billion by 2028, with a CAGR of 8.45% from 2021 to 2028.

Verified market research

Download the PDF brochure: https://www.verifiedmarketresearch.com/download-sample/?rid=33783

Browse the table of contents in depth toBusiness Intelligence Software Market

202 – Pages

126 – Tables

37 – Figures

Global Business Intelligence Software Market Overview

Business Intelligence software enables companies to make informed decisions based on logical facts involving market trends and consumer buying habits. For example, the data exists in several systems of the large organization because they have ERP and CRM applications. Therefore, the first step in using BI is to prepare an inventory of the data produced by the business. In addition, the growing adoption of data analytics in end-use industries to analyze data and make more informed business decisions is expected to drive demand for BI software.

The market is primarily driven by heavy use of e-commerce and an increase in the adoption of data-driven business models by small, medium and large organizations. For example, restaurant chains such as Wendy’s and Ruby Tuesday in the United States are making significant use of BI software to improve customer relationships. The BI approach enables companies to implement strategic decisions in a way that drives positive transformation resulting in high quality customer service. Additionally, the increase in the use of data and enterprise analytics software supported by continued investments in business intelligence and tools is driving strong revenue growth.

On the contrary, the significant costs incurred for the license and installation of BI software are expected to be a challenge for the growth of the market. BI software license prices are not entirely based on software development costs, but are largely influenced by market conditions at the time of purchase. Additionally, organizations are already benefiting from traditional BI tools and are skeptical about adopting advanced BI software. While the benefits of adopting BI software are many, the initial investment of purchasing an appropriate BI platform or software, implementing it in the organization, and training employees in its use. usage is high.

Key developments

  • Pyramid Analytics, an enterprise-driven analytics platform, has received official SAP BW 7.5 and BW 4 / HANA certifications, demonstrating the company’s high-performance business intelligence capabilities on SAP as well as support data warehouse technologies from SAP.

  • Google said in june 2019 that it will acquire Looker, a hot analysis company that has earned more than $ 280 million in financing. it will pay $ 2.6 billion for the privilege, and the business will be added to Google Cloud.

  • In January 2019, MicroStrategy Incorporated, a Global Leader in Enterprise Mobility and Analytics Software, Introduced the Industry’s First and Only Enterprise Platform for HyperIntelligence, Transformative Mobility, and Federated Analytics

Key players

The main players in the market are Cloud9 Analytics, Google, Inc., IBM Corporation, Informatica, Microsoft Corporation, Oracle Corporation, SAP SE, SAS Institute, Inc. and Tableau Software.

Verified market research segmented the global Business Intelligence software market on the basis of service, platform, and geography.

  • Business Intelligence Software Market, By Service

  • Business Intelligence Software Market, By Platform

  • Business Intelligence Software Market By Geography

Browse related reports:

Retail Management Systems Software Market By type (Cloud, Saas, Web, Mobile – native Android, Mobile – native Ios), By application (Small business, Mid-size business, Large business), By geography, Forecast, 2021-2028

IoT Analytics Market By type (descriptive analyzes, predictive analyzes), by component (services, software), by application (building automation, energy management, inventory management), by geography, forecast, 2021-2028

Big Data as a Service Market By size of organization (Small and medium-sized companies, large companies), By type of solution (Data-as-a-Service, Data Analytics-as-a-Service), By deployment model (public cloud, private cloud), By Vertical (government, manufacturing), by geography, forecast, 2021-2028

Enterprise software market Size by type (business intelligence (BI), supply chain management (SCM), web conferencing collaboration), by organization size (small and medium businesses and large enterprises), by vertical (energy and services public, healthcare, transport, IT communication), By geography, forecast, 2021-2028

Best Business Process Automation Software revitalize commercial operations

Visualize Business Intelligence Software Market Using Verified Market Intelligence: -:

Verified market intelligence is our BI compatible platform for the narrative storytelling of this market. VMI offers detailed forecasting trends and accurate information on over 20,000 emerging and niche markets, helping you make critical revenue-impacting decisions for a bright future.

VMI provides a holistic overview and global competitive landscape with respect to region, country and segment, and key players in your market. Present your market report and findings with a built-in presentation function, saving over 70% of your time and resources for investor arguments, sales and marketing, R&D and product development. VMI enables data delivery in interactive Excel and PDF formats with over 15+ key market indicators for your market.

About Us

Verified Market Research is a leading global research and advisory firm serving more than 5,000 clients. Verified Market Research provides advanced analytical research solutions while delivering insightful research studies. We provide insight into strategic and growth analyzes, the data needed to achieve business goals, and critical revenue decisions.

Our 250 analysts and SMEs offer a high level of expertise in data collection and governance using industry techniques to collect and analyze data on more than 15,000 high impact and niche markets. Our analysts are trained to combine modern data collection techniques, superior research methodology, expertise and years of collective experience to produce informative and accurate research.

We study over 14 categories of Semiconductors & Electronics, Chemicals, Advanced Materials, Aerospace & Defense, Power & Energy, Healthcare, Products Pharmaceuticals, Automotive & Transportation, Information & Communication Technology, Software & Services, Information Security, Mining, Minerals & Metals, Building & Construction, Agricultural Industry and medical devices from over 100 countries.

Contact us

Sir. Edwyne Fernandes
Verified Market Research®
United States: +1 (650) -781-48080
UK: +44 (753) -715-0008
APAC: +61 (488) -85-9400
US Toll Free: +1 (800) -782-1768
Email: sales@verifiedmarketresearch.com
The Web: https://www.verifiedmarketresearch.com/
Follow us: LinkedIn | Twitter

Cision

Cision

Show original content:https://www.prnewswire.com/news-releases/business-intelligence-software-market-size-worth–35-18-billion-globally-by-2028-at-8-45-cagr-verified-market -research-301435986.html

SOURCE Verified market research


Source link

About George H. McWhorter

Check Also

Debugging Software Market Size, Scope, Forecast to 2029

New Jersey, United States, – The latest report published by Verified Market Reports shows that …