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The global business intelligence market size was valued at USD 27.11 billion in 2022. The market value is slated to increase from USD 29.42 billion in 2023 to USD 54.27 billion by 2030 at 9.1% CAGR during the forecast period.
Fortune Business Insights™ presents this information in its latest report titled “Business Intelligence Market Size, Share & COVID-19 Impact Analysis, By Component (Solution, Services), By Deployment (Cloud, On-premise), By Enterprise Type (Small and Medium-Sized Enterprises (SMEs), Large Enterprises), By Application (Supply Chain Analytic Applications, CRM Analytic Operations, Financial Performance and Strategy Management, Production Planning Analytic Operations, Others), By End-use Industry (BFSI, IT and Telecommunication, Retail and Consumer Goods, Manufacturing, Healthcare, others), and Regional Forecast, 2023-2030”.
Several factors, including the rising usage of cloud-based, AI/ML services, and analytics across enterprises are driving the expansion of the global market. Additionally, the increased demand for adaptive architecture and solutions creates chances for market expansion.
COVID-19 Pandemic Created New Opportunities to Drive Market Expansion
The COVID-19 pandemic has had an effect on the software sector globally. With the sudden increase in remote work, large user networks, well-capitalized technology companies, and immense amounts of digital data are well-positioned to take advantage of the opportunity presented by the crisis. Consequently, there is a growing need for analytics, business intelligence, and advanced analytics professionals to handle the additional problems brought on by the pandemic.
Qlik Expanded Strategic Collaboration with Databricks to Improve Business Intelligence (BI) Offerings
In September 2022, Qlik added SQL-based ingestion to Delta (Databricks Lakehouse) and Partner Connect Integration to its strategic collaboration with Databricks. Users can enhance and streamline their capacity to import data into Delta by using Qlik data integration. The temporary Qlik Data Analytics with Databricks experience is improved by integrating Qlik Cloud with Delta.
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Need for Data Mining, Data Analytics, and Data Culture Propels the Market Forward
Embedded business intelligence and analytics are driven by BI breakthroughs and an API-first architecture in both commercial and consumer applications. Additionally, firms may use and analyze enormous amounts of data captured by ERP software by integrating BI with other programs such as CRM and ERP. The BI software aids in the analysis and representation of the data in a better actionable style with straightforward interpretations. The increasing demand for data culture, mobile insight, ETL, data mining, and analytics is the key factor fostering the business intelligence market growth.
Key Players Aim to Expand BI Use-cases to Capture Greater Market Share
The major players are enthusiastic about creating BI solutions for a variety of uses, including workforce analytics, supply chain analytics, and CRM analytic operations. One of the main business strategies is the development of new items and the improvement of existing products. Similarly to this, market participants strategically acquire companies and work together globally for global expansion.
Notable Industry Development:
List of the Companies Profiled in the Report:
Further Report Findings
Table of Segmentation
CAGR of 9.1% from 2023 to 2030
Value (USD billion)
By Component, Deployment, Enterprise Type, Application, End-use Industry, and Region
By Enterprise Type
By End-use Industry