Business Intelligence and Analytics Platforms Market Projected to Witness a Double-Digit CAGR During 2018 – 2028
The global BI and Analytics Platforms market size is expected to reach USD 84.25 Billion at a revenue CAGR of 11.9% in 2028, according to latest analysis by Emergen Research. Steady market revenue growth of BI and Analytics Platforms can be attributed to rising demand for rapid and precise analysis of business data. BI and Analytics Platforms allow businesses to use customized reports or templates to monitor Key Performance Indicators (KPIs) through several data sources, such as financial, sales & marketing, and operations data. Business Intelligence (BI) reports are prepared in real time to aid businesses to take accurate and fast data-backed decisions. These platforms generally deliver easy to comprehend visualizations, including graphs, charts, and tabular data presentations. Moreover, certain BI and Analytics Platforms generate interactive reports to enable users to switch between different variables to derive a better understanding of key business metrics.
The report also provides an extensive analysis of the segment and sub-segmented expected to dominate the market over the projected period. The report offers a forecast estimation of the market with regards to the analysis of the market segmentation, including product type, end-user industries, application spectrum, and other segments. The research report on the Business Intelligence and Analytics Platforms market is formulated through extensive primary and secondary research along with qualitative and quantitative analysis of vital aspects of the market. The insightful data is further validated and verified by the industry professionals. The report strives to offer deeper insights into the overall market scenario of the Business Intelligence and Analytics Platforms business sphere. The report studies the factors influencing the growth of the industry in the global Business Intelligence and Analytics Platforms market and offers accurate predictions about the growth pattern. The report pays special attention to the key elements of the Business Intelligence and Analytics Platforms market, such as drivers, restraints, opportunities, threats, risks, limitations, and other aspects.
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Leading Companies of the BI and Analytics Platforms market Industry and Profiled in the Report are:
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.
Some Key Highlights from the Report
By industry vertical, retail segment contributed to largest revenue share in 2020. BI and Analytics Platforms help retail firms to stay updated with prevailing market dynamics and gain detailed insights about how actual outcomes appear as compared to planned revenue by product, location, store, region, and several other factors. These platforms help retail firms in product cost optimization by determining influence of factors such as hours of operations, hiring, and adequate resource allocation, on revenue.
BI and Analytics Platforms market in North America accounted for largest revenue share in 2020, due to high adoption of advanced technologies and increased investment by companies in end-use industries, such as retail, BFSI, and Telecom & IT on business intelligence tools & software. Additionally, presence of leading market players such as Microsoft Corporation, Tableau Software LLC, and Oracle Corporation are causative of market revenue growth in North America.
In January 2021, Information Builders, Inc. was acquired by Tibco Software Inc., a leading market player. The acquisition was intended to add data management and analytics competences of Information Builders to the Connected Intelligence platform of Tibco software.
By platform type, advanced & predictive analytics platform segment contributed to a significant revenue share in 2020. Predictive analytics is widely deployed in finance and insurance industry to generate reliable and precise visualization of customer data to aid with effective business decision making. For instance, advanced analytics is used to determine credit scores to ascertain creditworthiness of consumer and in turn, decreased risks to business. Moreover, analyzing customer buying pattern and responses is essential in devising marketing strategies, and predictive analytics can be used to analyze data to recognize new market opportunities.
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Emergen Research has segmented the global BI 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 Analysis:
The report sheds light on the region expected to dominate the BI and Analytics Platforms market in the coming years. The report estimates the market size in terms of volume and value and offers an accurate estimate of the market share each region is anticipated to hold during the forecast period. The report analyzes the spread of the BI and Analytics Platforms market in key geographies covering North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The regional analysis offers an idea about the production and consumption pattern, import/export, supply and demand ratio, revenue contribution, market share and size, and the presence of prominent players in each region.
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The report covers key points of the market, including the standards, regulations, and policy changes applied by the government on the industry for the coming years. The report encompasses thorough research carried out by the application of advanced analytical tools such as SWOT analysis and Porter’s Five Forces analysis to pinpoint the growth trends and patterns. Factors likely to influence the growth of the market, current trends, opportunities, restraining factors, and business landscape are discussed in-depth in the market study.
Key Points of BI and Analytics Platforms Market:
Extensive coverage of the analysis of the BI and Analytics Platforms market
Key insights into the regional spread of the industry in key geographies
Radical insights into the vital market trends; both current and emerging trends, and factors influencing the growth of the market
Comprehensive coverage of the impact of the COVID-19 pandemic on the overall growth of the BI and Analytics Platforms market
Complete data about the key manufacturers and vendors in the BI and Analytics Platforms market
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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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