BI and Analytics Market Worth USD 60.49bn at CAGR 11.2% by 2027

Bengaluru, NFAPost: The global business intelligence and analytics market are expected to be worth USD 60.49 Billion by 2027, according to the latest analysis by Emergen Research. Global business intelligence and analytics market revenue is projected to increase exponentially during the seven-year forecast period due to the increasing demand for real-time performance measurement solutions across various sectors.

Increasing demand for better sales forecasting and budgeting solutions is also expected to further boost global business intelligence and analytics market growth over the forecast period. Besides, the rising application of advanced analytical solutions with deep learning, machine learning, and artificial intelligence technologies to generate reports effectively will stimulate global business intelligence and analytics market growth shortly.

However, concerns and potential issues related to data breaches with the use of business intelligence and analytics solutions are expected to impede global business intelligence and analytics market growth to some extent during the forecast period.

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Top Companies in the Business Intelligence and Analytics Market are:

SAP SE, Oracle Corporation, Microsoft Corporation, TIBCO Software Inc., GoodData Corporation, International Business Machines Corporation, MicroStrategy Incorporated, Tableau Software, Inc., SAS Institute Inc., and Qlik Technologies Inc.

Business Intelligence and Analytics Market Drivers During Forecast Period:

By Technology Segment:

The mobile app segment revenue is expected to expand at a rapid CAGR of 6.2% during the forecast period. Increasing global adoption of online food ordering mobile apps such as Zomato, FoodPanda, UberEats, Swiggy, Grubhub, and DoorDash is driving growth of the mobile apps segment currently.

By Application Segment:

Among the application segments, revenue from the sales & marketing segment is expected to register a significantly high CAGR of 11.6% during the forecast period. This high growth rate can be attributed to increasing adoption of busines intelligence and analytics solutions by end-users for the purpose of interpreting meaningful information from raw business data, and utilizing that information to identify potential sales opportunities.

Due to growing demand for analytical solutions to accurately evaluate consumer behavior in the retail industry, the retail segment is projected to register a significantly robust revenue share contribution to the global business intelligence and analytics market during the forecast period.

By Regional Segment:

Asia Pacific market is expected to register rapid growth during the forecast period due to rising focus across industries in countries in this region to improve business performance by implementing business intelligence and analytical solutions to stay ahead in highly competitive scenarios.

Key Highlights of Report

• In July 2020, Zalando SE implemented GoodData Corporation’s analytics tool to introduce ZMS Insights, which will allow brands to improve decision making. This also helps Zalando to become more cooperative by data sharing with brands, in order to help brand partners, and gain deeper understanding of customer behavior such as understanding which products customers want, and when they want them.

Emergen Research has segmented the global Business Intelligence and Analytics market on the basis of process type, data delivery, application, end-use, and region.

• Process Type Outlook (Revenue, USD Billion; 2020–2027)
  • Online Transactional Processing (OLTP)
  • Online Analytical Processing (OLAP)
• Data Delivery Outlook (Revenue, USD Billion; 2020–2027)
  • Traditional channels
    • Web portal
    • Web app
    • Email
    • File Transfer Protocol (FTP)
  • Modern channels
    • Cloud hosting
    • Social sharing
• Application Outlook (Revenue, USD Billion; 2020–2027)
  • Business management
    • Performance management
    • Strategic planning
    • Process intelligence
    • Competitive intelligence
  • IT management
    • App analytics
    • Web analytics
    • Security management
  • Sales & Marketing
    • Customer behavior analysis
    • Campaign management
    • CRM
    • Targeted marketing
    • Inventory management
  • Human resource
    • Talent management
    • HR analytics
  • Supply chain & Logistics
    • Shipping & inventory control
    • Supplier & vendor management
  • Sports and games analytics
• End-use Outlook (Revenue, USD Billion; 2020–2027)
  • Education
  • Healthcare
  • Manufacturing
  • Telecommunication
  • Information Technology
  • Retail
  • Entertainment
  • Government
  • Energy & Power
  • Financial Services
  • Others

To identify the key trends in the industry and check out the full summary here:   https://www.emergenresearch.com/industry-report/business-intelligence-and-analytics-market

• Regional Outlook (Revenue, USD Billion; 2020–2027)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. U.K.
    3. France
    4. BENELUX
    5. Rest of Europe
  • Asia Pacific
    1. China
    2. Japan
    3. South Korea
    4. India
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. Rest of MEA