Business Intelligence And Analytics Platforms Market Key Companies, Business Opportunities, Competitive Landscape and Industry Analysis Research Report by 2028
According to Emergen Research, the global business intelligence and analytics platforms market is expected to reach USD 84.25 billion by 2028, with a revenue CAGR of 11.9%. The rising demand for rapid and precise analysis of business data can be attributed to the steady market revenue growth of business intelligence and analytics platforms. Businesses can use business intelligence and analytics platforms to monitor Key Performance Indicators (KPIs) from a variety of data sources, including financial, sales and marketing, and operations data. Business Intelligence (BI) reports are generated in real time to assist businesses in making timely and accurate data-driven decisions.
The proliferation of business intelligence and analytics platforms is significant in large enterprises; however, small and medium-sized businesses are also interested in investing in this software due to the benefits associated with it. The popularity of cloud deployment options, on the other hand, has provided enormous benefits to SMBs and significantly increased their adoption rate. This trend is expected to continue in the coming years, leveraging software providers to offer more innovative solutions with intelligent and smart dashboards with distinct features to cater to the emerging need of self-service analytics. Customer analytics, social media analytics, predictive analytics, and embedded BI are some other growth indicators in this market that are shifting vendor focus to meet these needs.
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Some Key Highlights from the Report
Tibco Software Inc., a market leader, acquired Information Builders, Inc. in January 2021. The acquisition was intended to add Information Builders’ data management and analytics capabilities to Tibco software’s Connected Intelligence platform.
In 2020, the retail industry vertical contributed the most revenue. Business intelligence and analytics platforms assist retail firms in staying current with market dynamics and gaining detailed insights into how actual outcomes compare to planned revenue by product, location, store, region, and a variety of other factors. These platforms assist retail firms in product cost optimization by determining the impact of variables such as operating hours, hiring, and adequate resource allocation on revenue.
Due to high adoption of advanced technologies and increased investment in business intelligence tools and software by companies in end-use industries such as retail, BFSI, and Telecom & IT, the North American business intelligence and analytics platforms market will account for the largest revenue share in 2020. Furthermore, the presence of market leaders such as Microsoft Corporation, Tableau Software LLC, and Oracle Corporation is driving market revenue growth in North America.
Microsoft Corporation, SAS Institute Inc., IBM Corporation, MicroStartegy Inc., Tableau Software LLC, Tibco Software Inc., Oracle Corporation, QlikTech International AB, SAP SE, and Hitachi Vantara Corporation are among the major companies mentioned in the market report.
Emergen Research has segmented the global business intelligence and analytics platforms market on the basis of platform type, organization size, mode of deployment, industry vertical, and region:
- Platform Type Outlook (Revenue, USD Billion; 2018–2028)
- Business Intelligence Platforms
- Advanced & Predictive Analytics Platforms
- Corporate Performance Management (CPM) Suite
- Others
- Organization Size Outlook (Revenue, USD Billion; 2018–2028)
- Large Enterprise
- Small & Medium Sized Enterprises
- Mode of Deployment Outlook (Revenue, USD Billion; 2018–2028)
- Cloud-based
- On-Premises
- Industry Vertical Outlook (Revenue, USD Billion; 2018–2028)
- BFSI
- IT & Telecom
- Retail
- Healthcare
- Government
- Manufacturing
- Energy
- Media & Entertainment
- Education
- Others
- Regional Outlook (Revenue, USD Billion; 2018–2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of MEA
- North America
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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