Business Intelligence Market

Industry Overview

The Global Business Intelligence Market size was valued at USD 22.8 billion in 2023. It is likely to grow up to USD 33.6 billion by 2030 at a CAGR of 8.2% during the forecast period ranging between 2025 and 2030.

The rising adoption and demand for cloud-based business intelligence solutions are primary factors that accelerate the growth of the market. This is a crucial factor because it helps businesses make decisions that help them to be more flexible, scalable, and cost-effective. Most businesses prefer this specific form of business intelligence because it does not need additional investments in infrastructure, is easy to integrate into the current systems, and allows better collaboration across the distribution teams.

Business intelligence is the process of collecting, analyzing, and visualizing data by using sophisticated technology like Python, SQL, and data visualization that aids in making data-driven decisions regarding business operations. There are different tools and software used as well for this process which include data mining, dashboards, reporting, Tableau, Power BI, and more. All these tools help in collecting raw data and converting it into actionable insights to support strategic planning, improve operational efficiency, enhance customer satisfaction, and uncover different market trends. Business intelligence is used extensively in areas like healthcare, finance, retail, and marketing sectors to anticipate and comprehend industry trends and stay competitive.

Global Business Intelligence Market Report Coverage

Global Business Intelligence Industry Dynamics     

Global Business Intelligence Market Trends/ Growth Drivers:

Help in real-time analysis and data-driven decision making

The global business intelligence market is growing at a rapid rate mainly due to its ability to empower businesses to analyze data in real time and make data-driven decisions for better outcomes. Therefore, more and more businesses are adopting business intelligence to cater to the demand and stay competitive based on the prevailing market trends and anticipate the upcoming ones to be ready to make amendments accordingly.

Another important factor for the growth of the market is the large number of business data produced every day on a global scale. It needs reliable business intelligence solutions for accurate analysis of data in a quick time. This helps them to take necessary actions to respond to any changes in their business operation according to the changes in the market situations and demands. This improves business agility, competitiveness, and efficiency, which is crucial in the finance and healthcare sectors apart from retail, which needs to use prescriptive and predictive analysis to optimize market trends with timely and strategic planning.

Other significant business intelligence market growth drivers and trends include developments in technologies like machine learning and artificial intelligence that support automated insights based on predictive analysis. This helps even non-technical users to interpret data independently. Furthermore, higher adoption and use of data visualization, mobile and self-service business intelligence tools, higher emphasis on data security, stricter data regulations, higher compliance requirements, rising investments by organizations in data security and privacy measures, and growing adoption by the manufacturing, logistics, and e-commerce sectors to improve their supply chains and customer satisfaction.

Global Business Intelligence Market Challenges

Higher concerns over data security and privacy

The growing concern over data privacy and the need for data security is the most significant factor that is hindering the growth of the global business intelligence market. This is mainly because businesses all over the world generate a large amount of sensitive and personal data that needs to be protected from breaches and leaks. In addition, the growing concerns over compliance with strict regulations like GDPR are also a significant hindrance to the widespread adoption of business intelligence globally among organizations. They are specifically worried about implementing cloud-based business intelligence solutions, fearing potential data leaks and apprehension of unauthorized access to sensitive data. In addition, the high cost of implementation, data quality concerns, inherent complexity in integrating business intelligence solutions with existing systems, limited effectiveness in handling unstructured data to generate precise insights, and shortage of skilled personnel to use and manage BI tools effectively also limits the market growth.

Global Business Intelligence Market Opportunities

Rising demand for advanced analytics

Despite the significant challenges, the global business intelligence market has huge potential for growth during the forecast period due to the growing demand for advanced analytics, especially among small and medium-sized enterprises (SMEs). This is mainly attributed to the fact that business intelligence tools are more accessible and affordable today, enabling SMEs to stay competitive and make better decisions to improve their operational efficiency. Furthermore, expansion into developing markets, acceleration and growing need for digital transformation, adoption of artificial intelligence and machine learning, rising emphasis on tailored customer experiences, and higher investments, especially in the retail and healthcare sectors, are offering novel growth opportunities to the market.

Recent Developments by the Key Players

Nov 8, 2024 - IBM has collaborated with Scuderia Ferrari HP, for Fan Engagement and Data Analytics. This partnership brings IBM’s advanced analytics and digital technology expertise to Ferrari’s world-renowned motorsport brand, focusing to take fan interaction and data-driven insights to the next level.

Sep 17, 2024 - Sisense has partnered with Funraise to revolutionize fundraising with cutting-edge data analytics

Global Business Intelligence Market Segmentation

VynZ Research provides an analysis of the key trends in each segment of the Global Business Intelligence Market report, along with forecasts at the regional and country levels from 2025-2030. Our report has categorized the market based on Component, Technology, Business Function and Service Type.

Market Segmentation

Insight by Component

Software segment dominates due to higher market share

The global business intelligence market is divided by components into Software and Services, where the former dominates due to higher market share. It is also expected to grow at a higher CAGR during the forecast period. This is mainly attributed to the rising demand for data visualization, advanced analytics, and reporting tools across a wide range of industries to ensure data security and higher competence.

Insight by Technology

Cloud computing segment is most dominant due to higher flexibility

According to technology, the global business intelligence market is categorized into Cloud Computing, Artificial Intelligence (AI), Big Data Analytics, Data Mining, Machine Learning (ML), and the Internet of Things (IoT). Out of all these segments, the cloud computing segment is the most dominant and will grow at a higher rate due to higher flexibility, scalability, and cost-effectiveness.

Insight by Business Function

The finance segment is more dominant due to higher need

The global business intelligence market is divided by business functions into such as Finance, Human Resources, Operations, Customer Service, Sales and Marketing, and Supply Chain Management segments. Among them all, the finance segment is more dominant. It will continue to grow more during the study period due to the higher need for financial forecasting, risk management, and fraud detection.

Insight by Service Type

The managed services segment dominates due to higher preference by businesses

Different service types segregate the global business intelligence market into Managed Services and Professional Services segments with several respective subsegments. Out of the two major segments, the managed services segment dominates and will witness substantial growth during the forecast period due to higher preference by businesses to outsource business intelligence infrastructure and the need to lower operational costs, smooth data processing and system maintenance.

The global business intelligence market is also divided by organization size into SMEs and Large Enterprises, with the latter dominating due to large-scale adoption, also by application into Supply Chain Analytics, Performance and Risk Management, Customer Analytics, Sales and Marketing Analytics, Compliance Management with supply chain analytics dominating to ensure better service and uninterrupted service, and by industry verticals into BFSI, retail, e-commerce, healthcare, life sciences, manufacturing, IT and telecommunications, government and public sector, media and entertainment with BFSI leading the market due to higher generation of sensitive data and information and need to protect them from breaches.

Global Business Intelligence Market: Geographic Overview

North America dominates the global business intelligence market due to higher digital adoption and demand for data analytics, improved IT infrastructure, and heavy investments made by major sectors such as finance and retail.

Europe shows higher growth prospects due to strict regulatory compliance, higher digital transformation in manufacturing and finance sectors, and higher demand for analytical solutions in major countries like Germany and the UK.

The Asia Pacific region is quite promising due to rapid digitalization drives, a fast-growing e-commerce sector, and higher investments in AI and IoT in manufacturing and retail in developing countries like India and China.

Latin America and The Middle East and Africa regions will grow steadily during the study period due to rising investments in analytics and cloud business intelligence, digital transformation drives in banking and telecom sectors, and economic shifts.

Competitive Insights of Global Business Intelligence Market:

PRIMARY RESEARCH INTERVIEWS - BREAKDOWN

1.    Research Overview

        1.1.    The Report Offers
        1.2.    Market Coverage
                1.2.1.    By Component 
                1.2.2.    By Technology   
                1.2.3.    By Business Function
                1.2.4.    By Service Type
                1.2.5.    By Region
        1.3.    Research Phases
        1.4.    Limitations
        1.5.    Market Methodology
                1.5.1.  Data Sources
                        1.5.1.1. Primary Research
                        1.5.1.2. Secondary Research
                1.5.2.  Methodology
                        1.5.2.1. Data Exploration
                        1.5.2.2. Forecast Parameters
                        1.5.2.3. Data Validation
                        1.5.2.4. Assumptions
                1.5.3.    Study Period & Data Reporting Unit

2.    Executive Summary

3.    Industry Overview

        3.1.    Industry Dynamics
                3.1.1.    Market Growth Drivers
                3.1.2.    Market Restraints
                3.1.3.    Key Market Trends
                3.1.4.    Major Opportunities
        3.2.    Industry Ecosystem
                3.2.1.    Porter’s Five Forces Analysis
                3.2.2.    Recent Development Analysis
                3.2.3.    Value Chain Analysis
        3.3.    Competitive Insight
                3.3.1.    Competitive Position of Industry Players
                3.3.2.    Market Attractive Analysis
                3.3.3.    Market Share Analysis

4.    Global Market Estimate and Forecast

        4.1.    Global Market Overview
        4.2.    Global Market Estimate and Forecast to 2030

5.    Market Segmentation Estimate and Forecast

        5.1.    By Component
                5.1.1.  Software 
                        5.1.1.1. Market Definition
                        5.1.1.2. Market Estimation and Forecast to 2030 
                5.1.2.  Services
                        5.1.2.1. Market Definition
                        5.1.2.2. Market Estimation and Forecast to 2030
     5.2.    By Technology   
                5.2.1.  Cloud Computing
                        5.2.1.1. Market Definition
                        5.2.1.2. Market Estimation and Forecast to 2030
                5.2.2.  Artificial Intelligence (AI)
                        5.2.2.1. Market Definition
                        5.2.2.2. Market Estimation and Forecast to 2030
                5.2.3.  Big Data Analytics
                        5.2.3.1. Market Definition
                        5.2.3.2. Market Estimation and Forecast to 2030
                5.2.4.    Data Mining
                        5.2.4.1. Market Definition
                        5.2.4.2. Market Estimation and Forecast to 2030
                5.2.5.    Machine Learning (ML)
                        5.2.5.1. Market Definition
                        5.2.5.2. Market Estimation and Forecast to 2030
                5.2.6.    Internet of Things (IoT)
                        5.2.6.1. Market Definition
                        5.2.6.2. Market Estimation and Forecast to 2030
       5.3    By Business Function
                5.3.1.  Finance
                        5.3.1.1. Market Definition
                        5.3.1.2. Market Estimation and Forecast to 2030    
                5.3.2.  Human Resources
                        5.3.2.1. Market Definition
                        5.3.2.2. Market Estimation and Forecast to 2030     
                5.3.3.    Operations
                        5.3.3.1. Market Definition
                        5.3.3.2. Market Estimation and Forecast to 2030
                5.3.4.    Customer Service
                        5.3.4.1. Market Definition
                        5.3.4.2. Market Estimation and Forecast to 2030
                5.3.5.    Sales and Marketing
                        5.3.5.1. Market Definition
                        5.3.5.2. Market Estimation and Forecast to 2030
                5.3.6.    Supply Chain Management
                        5.3.6.1. Market Definition
                        5.3.6.2. Market Estimation and Forecast to 2030
    5.4.    By Service Type
                5.4.1.    Managed Services
                        5.4.1.1. Market Definition
                        5.4.1.2. Market Estimation and Forecast to 2030
                5.4.2.    Professional Services
                        5.4.2.1. Market Definition
                        5.4.2.2. Market Estimation and Forecast to 2030
                
6.    North America Market Estimate and Forecast

    6.1.    By Component 
    6.2.    By Technology  
    6.3.    By Business Function
    6.4.    By Service Type
                6.5.1.    U.S. Market Estimate and Forecast
                6.5.2.    Canada Market Estimate and Forecast
                6.5.3.    Mexico Market Estimate and Forecast

7.    Europe Market Estimate and Forecast

    7.1.    By Component 
    7.2.    By Technology  
    7.3.    By Business Function
    7.4.    By Service Type
                7.5.1.    Germany Market Estimate and Forecast
                7.5.2.    France Market Estimate and Forecast
                7.5.3.    U.K. Market Estimate and Forecast
                7.5.4.    Italy Market Estimate and Forecast
                7.5.5.    Spain Market Estimate and Forecast
                7.5.6.    Rest of Europe Market Estimate and Forecast

8.    Asia-Pacific Market Estimate and Forecast

    8.1.    By Component 
    8.2.    By Technology  
    8.3.    By Business Function
    8.4.    By Service Type
    8.5.    By Country – China, Japan, India, South Korea, and Rest of Asia-Pacific
                8.5.1.    China Market Estimate and Forecast
                8.5.2.    Japan Market Estimate and Forecast
                8.5.3.    India Market Estimate and Forecast
                8.5.4.    South Korea Market Estimate and Forecast
                8.5.5.    Singapore Market Estimate and Forecast
                8.5.6.    Rest of Asia-Pacific Market Estimate and Forecast

9.    Rest of the World (RoW) Market Estimate and Forecast

    9.1.    By Component 
    9.2.    By Technology  
    9.3.    By Business Function
    9.4.    By Service Type
    9.5.    By Country – Brazil, Saudi Arabia, South Africa, U.A.E., and Other Countries
                9.5.1.    Brazil Market Estimate and Forecast
                9.5.2.    Saudi Arabia Market Estimate and Forecast
                9.5.3.    South Africa Market Estimate and Forecast
                9.5.4.    Other Countries Market Estimate and Forecast

10.    Company Profiles

        10.1.   IBM
                10.1.1.    Snapshot
                10.1.2.    Overview
                10.1.3.    Offerings
                10.1.4.    Financial Insight
                10.1.5.    Recent Developments
        10.2.   Sisense
                10.2.1.    Snapshot
                10.2.2.    Overview
                10.2.3.    Offerings
                10.2.4.    Financial Insight
                10.2.5.    Recent Developments
        10.3.   Qlik
                10.3.1.    Snapshot
                10.3.2.    Overview
                10.3.3.    Offerings
                10.3.4.    Financial Insight
                10.3.5.    Recent Developments
        10.4.   Pentaho
                10.4.1.    Snapshot
                10.4.2.    Overview
                10.4.3.    Offerings
                10.4.4.    Financial Insight
                10.4.5.    Recent Developments
        10.5.   ThoughtSpot
                10.5.1.    Snapshot
                10.5.2.    Overview
                10.5.3.    Offerings
                10.5.4.    Financial Insight
                10.5.5.    Recent Developments
        10.6.   Alibaba Cloud
                10.6.1.    Snapshot
                10.6.2.    Overview
                10.6.3.    Offerings
                10.6.4.    Financial Insight
                10.6.5.    Recent Developments
    10.7.    Cisco Systems
               10.7.1.    Snapshot
                10.7.2.    Overview
                10.7.3.    Offerings
                10.7.4.    Financial Insight
                10.7.5.    Recent Developments
    10.8.    Logi Analytics
                10.8.1.    Snapshot
                10.8.2.    Overview
                10.8.3.    Offerings
                10.8.4.    Financial Insight
                10.8.5.    Recent Developments
    10.9.    Klipfolio
                10.9.1.    Snapshot
                10.9.2.    Overview
                10.9.3.    Offerings
                10.9.4.    Financial Insight
                10.9.5.    Recent Developments    
11.    Appendix

        11.1.    Exchange Rates
        11.2.    Abbreviations

Note: Financial insight and recent developments of different companies are subject to the availability of information in the secondary domain.

List Of Table

Table 1 Sources
Table 2 Study Periods
Table 3 Data Reporting Unit
Table 4 Global Business Intelligence Market  Size, By Component, 2018-2023 (USD Billion)
Table 5 Global Business Intelligence Market  Size, By Component, 2025-2030 (USD Billion)
Table 4 Global Business Intelligence Market  Size, By Technology, 2018-2023 (USD Billion)
Table 5 Global Business Intelligence Market  Size, By Technology, 2025-2030 (USD Billion)
Table 4 Global Business Intelligence Market  Size, By Business Function, 2018-2023 (USD Billion)
Table 5 Global Business Intelligence Market  Size, By Business Function, 2025-2030 (USD Billion)
Table 6 Global Business Intelligence Market  Size, By Service Type, 2018-2023 (USD Billion)
Table 7 Global Business Intelligence Market  Size, By Service Type, 2025-2030 (USD Billion)
Table 8 Global Business Intelligence Market  Size, By Region, 2018-2023 (USD Billion)
Table 9 Global Business Intelligence Market  Size, By Region, 2025-2030 (USD Billion)
Table 10 North America Business Intelligence Market  Size, By Component, 2018-2023 (USD Billion)
Table 11 North America Business Intelligence Market  Size, By Component, 2025-2030 (USD Billion)
Table 12 North America Business Intelligence Market  Size, By Technology, 2018-2023 (USD Billion)
Table 13 North America Business Intelligence Market  Size, By Technology, 2025-2030 (USD Billion)
Table 14 North America Business Intelligence Market  Size, By Business Function, 2018-2023 (USD Billion)
Table 15 North America Business Intelligence Market  Size, By Business Function, 2025-2030 (USD Billion)
Table 16 North America Business Intelligence Market  Size, By Service Type, 2018-2023 (USD Billion)
Table 17 North America Business Intelligence Market  Size, By Service Type, 2025-2030 (USD Billion)
Table 18 North America Business Intelligence Market  Size, By Region, 2018-2023 (USD Billion)
Table 19 North America Business Intelligence Market  Size, By Region, 2025-2030 (USD Billion)
Table 20 Europe Business Intelligence Market  Size, By Component, 2018-2023 (USD Billion)
Table 21 Europe Business Intelligence Market  Size, By Component, 2025-2030 (USD Billion)
Table 22 Europe Business Intelligence Market  Size, By Technology, 2018-2023 (USD Billion)
Table 23 Europe Business Intelligence Market  Size, By Technology, 2025-2030 (USD Billion)
Table 24 Europe Business Intelligence Market  Size, By Business Function, 2018-2023 (USD Billion)
Table 25 Europe Business Intelligence Market  Size, By  Business Function, 2025-2030 (USD Billion)
Table 26 Europe Business Intelligence Market  Size, By Service Type, 2018-2023 (USD Billion)
Table 27 Europe Business Intelligence Market  Size, By Service Type, 2025-2030 (USD Billion)
Table 28 Europe Business Intelligence Market  Size, By Region, 2018-2023 (USD Billion)
Table 29 Europe Business Intelligence Market  Size, By Region, 2025-2030 (USD Billion)
Table 30 RoW Business Intelligence Market  Size, By Component, 2018-2023 (USD Billion)
Table 31 RoW Business Intelligence Market  Size, By Component, 2025-2030 (USD Billion)
Table 32 RoW Business Intelligence Market  Size, By Technology, 2018-2023 (USD Billion)
Table 33 RoW Business Intelligence Market  Size, By Technology, 2025-2030 (USD Billion)
Table 34 Asia-Pacific Business Intelligence Market  Size, By Business Function, 2018-2023 (USD Billion)
Table 35 Asia-Pacific Business Intelligence Market  Size, By Business Function, 2025-2030 (USD Billion)
Table 36 Asia-Pacific Business Intelligence Market  Size, Service Type, 2018-2023 (USD Billion)
Table 37 Asia-Pacific Business Intelligence Market  Size, Service Type, 2025-2030 (USD Billion)
Table 38 RoW Business Intelligence Market  Size, By Region, 2018-2023 (USD Billion)
Table 39 RoW Business Intelligence Market  Size, By Region, 2025-2030 (USD Billion)
Table 40 Snapshot – IBM
Table 41 Snapshot – Sisense
Table 42 Snapshot – Qlik
Table 43 Snapshot – Pentaho
Table 44 Snapshot – ThoughtSpot
Table 45 Snapshot – Alibaba Cloud
Table 46 Snapshot – Cisco Systems
Table 47 snapshot – Logi Analytics
Table 48 8napshot – Klipfolio

List of Figures

Figure 1 Market Coverage
Figure 2 Research Phases
Figure 3 Secondary Components for Different Parameters
Figure 4 Methodology
Figure 5 Data Mining & Exploration
Figure 6 Data Triangulation
Figure 7 Assumptions for Market Estimation and Forecast
Figure 8 Market Synopsis
Figure 9  Global MRD Testing Market - Growth Drivers and Restraints
Figure 10 Competitive Benchmark
Figure 11 Global MRD Testing Market Highlight
Figure 12 Global MRD Testing Market Size, by  Component, 2018 – 2030 (USD Billion)
Figure 13 Global MRD Testing Market Size, by Technology  2018 – 2030 (USD Billion)
Figure 14 Global MRD Testing Market Size, by Business Function 2018 – 2030 (USD Billion)
Figure 15 Global MRD Testing Market Size, by Service Type2018 – 2030 (USD Billion)
Figure 16 Global MRD Testing Market Size, by Region, 2018 – 2030 (USD Billion)
Figure 17 North America MRD Testing Market Highlight
Figure 18 North America MRD Testing Market Size, by  Component, 2018 – 2030 (USD Billion)
Figure 19 North America MRD Testing Market Size, by Technology  2018–2030 (USD Billion)
Figure 20 North America MRD Testing Market Size, by Business Function 2018–2030 (USD Billion)
Figure 21 Global MRD Testing Market Size, by Service Type 2018 – 2030 (USD Billion)
Figure 22 North America MRD Testing Market Size, by Country, 2018 – 2030 (USD Billion)
Figure 23 Europe MRD Testing Market Highlight
Figure 24 Europe MRD Testing Market Size, by  Component, 2018 – 2030 (USD Billion)
Figure 25 Europe MRD Testing Market Size, by Technology, 2018 – 2030 (USD Billion)
Figure 26 Europe MRD Testing Market Size, by Business Function, 2018 – 2030 (USD Billion)
Figure 17 Global MRD Testing Market Size, by Service Type, 2018 – 2030 (USD Billion)
Figure 28 Europe MRD Testing Market Size, by Country, 2018 – 2030 (USD Billion)
Figure 29 Asia-Pacific MRD Testing Market Highlight
Figure 30 Asia-Pacific MRD Testing Market Size, by  Component, 2018 – 2030 (USD Billion)
Figure 31 Asia-Pacific MRD Testing Market Size, by Technology  2018 – 2030 (USD Billion)
Figure 32 Asia-Pacific MRD Testing Market Size, by Business Function  2018 – 2030 (USD Billion)
Figure 33 Global MRD Testing Market Size, by Service Type2018 – 2030 (USD Billion)
Figure 34 Asia-Pacific MRD Testing Market Size, by Country, 2018 – 2030 (USD Billion)
Figure 35 RoW MRD Testing Market Highlight
Figure 36 RoW MRD Testing Market Size, by  Component, 2018 – 2030 (USD Billion)
Figure 37 RoW MRD Testing Market Size, by Technology  2018 – 2030 (USD Billion)
Figure 38 RoW MRD Testing Market Size, by Business Function 2018 – 2030 (USD Billion)
Figure 39 Global MRD Testing Market Size, by Service Type 2018 – 2030 (USD Billion)
Figure 40 RoW MRD Testing Market Size, by Country, 2018 – 2030 (USD Billion)