According to a new market research report " Business Intelligence Market by Type (Platform, Software, Service), Data type (Unstructured, Semi-Structured, Structured), Business Application, Organization Size, Deployment Model, Industry Vertical, and Region - Global Forecast to 2021", published by MarketsandMarkets™, The global Business Intelligence (BI) market is estimated to grow from USD 17.09 Billion in 2016 to USD 26.88 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 9.5%.

BI helps business users access business data and perform queries to generate insights. It equips business users with easy-to-use data exploration, data preparation, appropriate analytics, and data visualization tools & techniques.

Browse and in-depth TOC on “Business Intelligence Market”

89 - Tables

46 - Figures

167 - Pages

Ask for PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1048

Major Key Companies:

Key players in the market include Microsoft (US), IBM (US), SAP (Germany), Oracle (US), Tableau (US), SAS Institute (US), Qlik (US), MicroStrategy (US), Information Builders (US), TIBCO Software (US), Pentaho (US), Yellowfin (Australia), Sisense (US), and Panorama (Canada). These players are increasingly undertaking mergers and acquisitions, and product launches to develop and introduce new technologies and products in the market.

Industry Segmentation:

The BI market is segmented by platforms, software, and services. The services segment is expected to grow at the highest CAGR between 2016 and 2021. Out of services, the consulting services subsegment in the professional services segment is projected to witness the highest demand due to the growing need of BI solutions across organizations.

The BI and analytics portfolio is witnessing a huge market growth owing to its potential and the benefits it guarantees to the customers. Modern BI product portfolios are customized to the requirements of different categories of users, such as application developers and business users that include business executives, data analysts, and data scientists. BI platforms cater to application developers enabling them to develop, deploy, and execute BI solutions. BI software are pre-built BI applications that deliver traditional BI capabilities from data ingestion and preparation to generation of business insights. The software category caters to business users such as business executives, data analysts, and data scientists and can be customized to fit the requirement criteria of the users. BI services complement the BI product provided by a company to its customers to facilitate and ensure smooth and efficient BI delivery.

Business Intelligence Market in APAC is expected to grow at the highest CAGR during the forecast period. Factors such as rapid economic developments, globalization, foreign direct investments, digitalization, and increased adoption of high-end technologies are driving the impressive growth in the APAC region. Many Asian countries are leveraging on information-intensive technologies, and BI is one of the leading technology trends. Countries such as China, Singapore, Japan, and India are expected to show high growth rates in the BI market.

Increasing volume & variety of business data and the growing need for competitive insights across different industry verticals drive the growth of BI market

Banking, Financial Services, and Insurance(BFSI)

BI helps financial institutions monitor customer-facing resources, such as sales teams and tellers and come up with solutions using advanced analytics to avoid discrepancies. BI enables financial organizations to analyze vast amounts of customer data to gain insights about the customers regarding banking, which can be used to improve products and services. The management team in financial organizations can make use of BI to monitor sales performance in selling loans or opening accounts and determine the sales team’s efficiency.

Retail and Consumer Goods

The retail and consumer goods verticals needs to manage the information on products across multiple departments, different portfolios, and varied prices. In addition, they need to maintain large quantities of data entries made manually or in an automated procedure on a regular basis.

Telecommunications and IT

The telecommunications and IT sector faces challenges related to improving response time, analyzing traffic, and studying product affinity to create a happy client base. BI helps overcome these challenges with self-service business analysis and discovery tools to monitor real-time data using advanced analytics. Data management needs to be improved to help avoid chaos and dissatisfaction among customers.

Browse Complete Report @ https://www.marketsandmarkets.com/Market-Reports/social-business-intelligence-bi-market-1048.html

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Shelly Singh

MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: 1-888-600-6441

Email: [email protected]

Visit Our Website: https://www.marketsandmarkets.com