Global Business Intelligence Software Market 2020 Size, Global Trends, Comprehensive Research Study, Development Status, Opportunities, Future Plans, Competitive Landscape and Growth by Forecast 2029

“Global Business Intelligence Software Market Insights, Opportunities, Trends, Market Size and Revenue Share, Growth Forecast: 2020 to 2029” is a research report on the target market, and is in process of completion at MarketResearch.biz. The report contains information and data, and inputs that have been verified and validated by experts in the target industry. The report presents a thorough study of annual revenues, historical data, and information, key developments, and strategies by major players that create opportunities in the market. Besides critical data and information, the report includes key and ongoing trends, factors that are driving market growth, factors that are potential restraints to market growth, as well as opportunities that can be leveraged for potential revenue generation in untapped regions and countries, as well as threats or challenges. The global business intelligence software market is segmented on the basis of technology, function, tool, deployment type, enterprise size, end-use industry, and region. Regions are further bifurcated into key countries, and revenue shares and growth rates for each of the segments, and regions as well as key countries have been provided in the final report.

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Business Intelligence Software: Product Overview

Business intelligence (BI) software is an application-based software developed and designed to recover stored data, analyze, and report required data for the purpose of business intelligence and analysis.

Global Business Intelligence Software Market: Drivers and Restraints

Increasing adoption and integration of advanced and high-tech platforms such as IoT, analytics, Big Data, and others in order to systematically organize databases, obtain and track behavioral patterns is among major factors expected to drive market growth. In addition, increasing demand for business intelligence software as it enables business analysts to make informed decisions, primarily based on consumer trends and buying patterns, logical facts and industry trends, etc. are among other major factors driving demand for business intelligence software, thereby driving market growth.

Certain major players are investing in R&D activities to develop enhanced BI software, and are focusing on innovative product launches to meet demand for advanced and improvised software, which is also projected to drive market growth. In 2018 for instance, Microsoft Corporation, which is a US-based technology company, invested over US$ 14.5 Bn in R&D activities to develop and launch advanced software. This helped Microsoft to outperform competitors.

Regional Market Insights: Global Business Intelligence Software Market

The North America market is expected to record majority revenue share in the target market and is projected to continue contributing highest share over the next 10 years. This is attributable to rising adoption of business intelligence software in numerous applications, as well as rapid digitalization in various industrial verticals. In addition, early and rising adoption of cloud-based platforms has augmented need for usage of business intelligence software. Furthermore, robust presence of prominent players engaged in designing and developing cloud-based business intelligence software in countries in the region is another key factor expected to drive growth of the North America market.

The Europe market is expected to record substantially high revenue share in the market due to high adoption of advanced technologies, rapidly growing end-use industry verticals, and presence of large number of domestic and regional players.

The Asia Pacific market is projected to register highest CAGR over the 10-year forecast period due to increasing demand for BI software in emerging markets such as China, Japan, and India among others. Also, significantly high adoption of business intelligence software and related tools, growing number of cloud deployment outsourcing activities, and increasing usage of Big Data, IoT, and other technologies are additional factors projected to propel growth of the Asia Pacific market. Organizations, especially large-scale organizations, in Asia Pacific are laying emphasis on enhancing work management systems to improve productivity and efficiency in order to stay ahead in the highly competitive market. This is also projected to further provide opportunities in terms of business expansion and revenue for players operating in the Asia Pacific business intelligence software market over the next few years.

Global Business Intelligence Software Market Segmentation:

Segmentation, by Technology:

• Cloud Business Intelligence
• Mobile Business Intelligence
• Social Business Intelligence
• Traditional Business Intelligence

Segmentation, by Function:

• Executive Management
• Finance
• Information and Deployment
• Sales and Marketing

Segmentation, by Tool:

• Dashboards & Scoreboards
• OLAP & Visualization Tools
• Predictive Analysis
• Query, Reporting & Search Tools

Segmentation, by Deployment:

• On-premise
• Hosted

Segmentation, by Enterprise Size:

• Large Enterprises
• Small & Medium Enterprises

Segmentation, by End-use Industry:

• Banking, financial services and insurance (BFSI)
• Government
• Healthcare
• IT & Telecom
• Manufacturing
• Media & Entertainment
• Others End-uses

Segmentation by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa