Business Intelligence and Analytics Market Size to Reach Value of USD 60.49 Billion by 2027 Growing at a CAGR of 11.2% | Emergen Research
Increasing demand for real-time performance measurement solutions and increasing demand for better sales forecasting and budgeting solution are driving growth of the business intelligence and analytics market.
Vancouver, British Columbia, Jan. 14, 2021 (GLOBE NEWSWIRE) — The global business intelligence and analytics market is expected to reach a value of USD 60.49 Billion by 2027, according to latest analysis by Emergen Research. Global business intelligence and analytics market revenue is projected to increase exponentially during the seven-year forecast period due to increasing demand for real-time performance measurement solutions across various sectors. Increasing demand for better sales forecasting and budgeting solutions is also expected to further boost global business intelligence and analytics market growth over the forecast period. Besides, rising application of advanced analytical solutions with deep learning, machine learning, and artificial intelligence technologies to generate reports effectively will stimulate global business intelligence and analytics market growth shortly.
However, concerns and potential issues related to data breaches with the use business intelligence and analytics solutions are expected to impede global business intelligence and analytics market growth to some extent during the forecast period.
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Top Companies in Business Intelligence and Analytics Market are:
SAP SE, Oracle Corporation, Microsoft Corporation, TIBCO Software Inc., GoodData Corporation, International Business Machines Corporation, MicroStrategy Incorporated, Tableau Software, Inc., SAS Institute Inc., and Qlik Technologies Inc.
Business Intelligence and Analytics Market Drivers During Forecast Period:
By Technology Segment:
The mobile app segment revenue is expected to expand at a rapid CAGR of 6.2% during the forecast period. Increasing global adoption of online food ordering mobile apps such as Zomato, FoodPanda, UberEats, Swiggy, Grubhub, and DoorDash is driving growth of the mobile apps segment currently.
By Application Segment:
Among the application segments, revenue from the sales & marketing segment is expected to register a significantly high CAGR of 11.6% during the forecast period. This high growth rate can be attributed to increasing adoption of busines intelligence and analytics solutions by end-users for the purpose of interpreting meaningful information from raw business data, and utilizing that information to identify potential sales opportunities.
Due to growing demand for analytical solutions to accurately evaluate consumer behavior in the retail industry, the retail segment is projected to register a significantly robust revenue share contribution to the global business intelligence and analytics market during the forecast period.
By Regional Segment:
Asia Pacific market is expected to register rapid growth during the forecast period due to rising focus across industries in countries in this region to improve business performance by implementing business intelligence and analytical solutions to stay ahead in highly competitive scenarios.
Key Highlights of Report
- In July 2020, Zalando SE implemented GoodData Corporation’s analytics tool to introduce ZMS Insights, which will allow brands to improve decision making. This also helps Zalando to become more cooperative by data sharing with brands, in order to help brand partners, and gain deeper understanding of customer behavior such as understanding which products customers want, and when they want them.
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Emergen Research has segmented the global Business Intelligence and Analytics market on the basis of process type, data delivery, application, end-use, and region.
- Process Type Outlook (Revenue, USD Billion; 2020–2027)
- Online Transactional Processing (OLTP)
- Online Analytical Processing (OLAP)
- Data Delivery Outlook (Revenue, USD Billion; 2020–2027)
- Traditional channels
- Web portal
- Web app
- File Transfer Protocol (FTP)
- Modern channels
- Cloud hosting
- Social sharing
- Traditional channels
- Application Outlook (Revenue, USD Billion; 2020–2027)
- Business management
- Performance management
- Strategic planning
- Process intelligence
- Competitive intelligence
- IT management
- App analytics
- Web analytics
- Security management
- Sales & Marketing
- Customer behavior analysis
- Campaign management
- CRM
- Targeted marketing
- Inventory management
- Human resource
- Talent management
- HR analytics
- Supply chain & Logistics
- Shipping & inventory control
- Supplier & vendor management
- Sports and games analytics
- Business management
- End-use Outlook (Revenue, USD Billion; 2020–2027)
- Education
- Healthcare
- Manufacturing
- Telecommunication
- Information Technology
- Retail
- Entertainment
- Government
- Energy & Power
- Financial Services
- Others
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- Regional Outlook (Revenue, USD Billion; 2020–2027)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- Rest of MEA
- North America
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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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