Latest News- Business Intelligence (BI) Market: BFSI is expected to lead the End-user segment during 2025-2029

The Business Intelligence (BI) Market is being driven by Increasing mergers and acquisitions

The Business Intelligence (BI) Market is expected to grow at a CAGR of 10.7% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 18557.6 million. In the global Business Intelligence (BI) market, advanced analytics solutions are gaining significant traction. These innovative technologies enable businesses to derive valuable insights from data generated across various sources. By deciphering consumer behavior patterns, companies can optimize their operations and devise customer-centric marketing strategies. Predictive analytics, a critical component of advanced analytics, utilizes complex mathematical and statistical techniques to analyze large data sets and generate accurate predictions and forecasts. This technology is indispensable for project management, streamlining the process by integrating multiple projects and applications. Employing predictive analytical tools instead of manual calculations reduces the workload and allows businesses to make data-driven decisions, ultimately leading to more effective and efficient initiatives. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • BFSI
  • Healthcare
  • ICT
  • Government
  • Others
• Deployment
  • On-premises
  • Cloud
• Type
  • Traditional BI
  • Cloud BI
  • Mobile BI
  • Social BI
• Geography
  • North America
    • Canada
    • US
  • APAC
    • China
    • India
    • Japan
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • Middle East and Africa
    • Egypt
  • South America
    • Brazil
    • Argentina

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing mergers and acquisitions
• Increasing product developments
• Growing demand for BI in retail

However, the market also witnesses some limitations, which are as follows:

• Rising concern for data privacy
• Increasing connection and bandwidth difficulties
• Hard to justify ROI of BI

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Market Scope in Business Intelligence (BI) Market Research Report

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Research Analysis Overview

In the realm of Business Intelligence (BI), key components include data lakes for vast, raw data storage; data swamps, which can lead to data chaos without proper management; data marts for focused data analysis; data cubes for multidimensional data analysis; ETL processes for data integration; data warehousing appliances for optimized data processing. Data virtualization tools facilitate access to dispersed data; data quality assessment ensures data accuracy; data governance policies maintain data integrity; data security protocols protect sensitive data. Data encryption, masking, anonymization, and de-identification ensure data privacy. Data access control manages user permissions; data disaster recovery plans safeguard against data loss; data archiving and retention policies manage data lifecycles. Data migration, replication, synchronization, and consistency ensure data accuracy across systems. Data validation, cleansing techniques, transformation rules, and enrichment services prepare data for analysis. Advanced analysis techniques like statistical modeling, machine learning algorithms, deep learning models, sentiment analysis tools, predictive modeling, prescriptive modeling, simulation modeling, optimization algorithms, decision trees, neural networks, and support vector machines enable valuable business insights.

Market Research Overview

The Business Intelligence (BI) market is a segment of the larger IT software industry, focusing on data-driven solutions for businesses. This market encompasses companies providing data warehousing, data mining, data visualization, data governance, data quality, data security, and data integration solutions. According to Technavio, the global BI market size is determined by the consolidated revenue of organizations specializing in these areas, including cloud-based offerings. The IT software market encompasses application software developers, excluding those producing database management software, interactive home entertainment software, or systems software.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/