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 technologies enable businesses to derive valuable insights from data generated across various sources. By analyzing consumer behavior patterns, companies can enhance operational efficiency and devise customer-centric marketing strategies, thereby optimizing advertising interactions. Predictive analytical tools, a key component of advanced analytics, employ sophisticated mathematical and statistical techniques to analyze large data sets and generate accurate predictions and forecasts. This streamlines project management by connecting multiple projects and applications, reducing the need for manual calculations and enabling more effective planning and execution of business 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
    • South Korea
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • Middle East and Africa
  • South America

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

The Business Intelligence (BI) market is driven by the need for strategic decision-making in the context of digital transformation. Intelligent Planning tools like Power BI on Microsoft Azure offer advanced analytics capabilities, including real-time and augmented analytics, machine learning, and artificial intelligence. BI platforms enable data integration from various third-party sources and ensure data quality for analytical applications. Continuous intelligence and predictive modeling provide actionable insights from big data. Self-service BI, mobile access, and data security are essential features for user adoption. Key performance indicators and operational efficiency are improved through data visualization, data warehousing, and decision support systems. IoT data integration and real-time insights complete the BI solution's offerings.

Market Research Overview

Business Intelligence (BI) market plays a pivotal role in the global application software sector, focusing on providing advanced solutions for strategic decision-making, digital transformation, intelligent planning, and advanced analytics. Technavio's market analysis encompasses revenue generated by companies specializing in BI software, including continuous intelligence platforms. These firms contribute significantly to the application software market, which covers enterprise and cloud-based software, excluding interactive home entertainment and systems software providers.. 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/