Business Intelligence Market

Growing Big Data and cloud-based computing is driving the market growth

The rising big data and cloud-based computing drive the market CAGR for business intelligence. Rapid technical advancements have fueled the expansion of big data analytics in the past few years. Because it can store structured and unstructured data, cloud computing is seen as a perfect foundation for BI applications. This Technology has made it possible for this tool to examine a vast quantity of data and give organizations important insights that will aid in identifying possibilities and improving marketing campaigns. BI and analytics are interwoven in commercial and personal apps because of BI developments and an API-first design.

Furthermore, its interaction with additional programs allows organizations to harness and analyze vast amounts of data captured by ERP software.

Additionally, employing business intelligence technologies is advantageous, including improved internal company processes, faster and better decision-making, revenue growth, a competitive edge, and increased operational performance. BI systems also assist firms in identifying important business concerns and industry trends. Furthermore, many businesses are utilizing data visualization technologies for analytics. BI also employs advanced analytics techniques like mining text, forecasting, statistical evaluation, and big data analytics. Because of the enhanced ability to extract insightful conclusions, the increased usage of these technologies boosts the need for BI across numerous sectors. Furthermore, BI systems help firms identify important business concerns and market trends.

COVID-19 has had a impact on the software industry. With the sudden increase in working from home, adequately funded technical enterprises with enormous user networks and massive volumes of electronic information have the opportunity to capitalize on the crisis's potential. As a result, there will be an increase in the need for analytics, BI, and technologically advanced analytics expertise to handle the new difficulties posed by the pandemic. This has prompted businesses to seize the chance to allow more people to access personal data at work, fueling additional development for business intelligence solutions and their demands.

For instance, according to the UN, 64.2 zettabytes of information will be generated in 2020, representing a 314% growth over 2015. Increasing data demand as a result of COVID-19 further led to better-than-expected development. As a result, demand for dependable and scalable business information solutions to improve decision-making is increasing. Thus, it is anticipated that demand for Business Intelligence will increase throughout the projection timeframe due to the rising Big Data and cloud-based computing. Thus, driving the Business Intelligence market revenue.

The exponential growth of data generated across various sectors appears to be a primary driver for the Global Business Intelligence Market Industry. As organizations increasingly rely on data-driven decision-making, the need for robust BI tools to analyze and interpret vast datasets becomes paramount. In 2024, the market is projected to reach 33.1 USD Billion, reflecting the growing demand for effective data management solutions. Companies are investing in advanced analytics and visualization tools to harness this data effectively, which may lead to enhanced operational efficiency and strategic insights.

The Global Business Intelligence Market Industry is poised for substantial growth, with projections indicating a rise from 33.1 USD Billion in 2024 to 113.5 USD Billion by 2035. This growth trajectory suggests a compound annual growth rate of 11.84% from 2025 to 2035, reflecting the increasing reliance on data analytics across various sectors. The market's expansion is likely driven by advancements in technology, the proliferation of data, and the growing need for organizations to make informed decisions based on real-time insights. This upward trend highlights the critical role of business intelligence in shaping future business strategies.

The shift towards cloud computing is significantly influencing the Global Business Intelligence Market Industry. Organizations are increasingly adopting cloud-based BI solutions due to their scalability, cost-effectiveness, and ease of access. This trend allows businesses to leverage real-time data analytics without the need for extensive on-premise infrastructure. As a result, the market is expected to experience substantial growth, with projections indicating a rise to 113.5 USD Billion by 2035. The flexibility offered by cloud solutions enables companies to adapt quickly to changing market conditions, thereby enhancing their competitive edge.

Organizations are increasingly prioritizing data-driven decision-making, which is a crucial factor propelling the Global Business Intelligence Market Industry. The ability to analyze data effectively and derive actionable insights is becoming essential for maintaining a competitive advantage. As companies recognize the value of informed decision-making, investments in BI tools are likely to surge. This trend aligns with the projected market growth to 113.5 USD Billion by 2035, as businesses strive to enhance their operational strategies and improve overall performance through data analytics.

The integration of artificial intelligence technologies into business intelligence tools is transforming the Global Business Intelligence Market Industry. AI-driven analytics can provide deeper insights and predictive capabilities, allowing organizations to make informed decisions swiftly. This trend is likely to drive market growth as companies seek to leverage AI for enhanced data analysis and reporting. The anticipated compound annual growth rate of 11.84% from 2025 to 2035 suggests a robust expansion in the adoption of AI-enhanced BI solutions, which could redefine how businesses approach data-driven strategies.

The growing emphasis on regulatory compliance and data governance is shaping the Global Business Intelligence Market Industry. Organizations are compelled to adopt BI solutions that ensure adherence to various regulations while managing data effectively. This need for compliance drives investments in BI tools that offer robust reporting and analytics capabilities. As businesses navigate complex regulatory landscapes, the demand for BI solutions is expected to rise, contributing to the market's growth trajectory. The anticipated market value of 33.1 USD Billion in 2024 underscores the importance of compliance-driven BI strategies.

By region, the research provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Business Intelligence market area will dominate this market during the projected timeframe due to an increasing trend, such as data development, rising competition, the use of cloud computing, and the growing adoption of BI offerings and digitalization throughout numerous industries, as well as its technical progress in company management insights to improve sales, production, and innovation will boost the market growth in the North American region.

Further, the major countries studied in the market report are the US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3: Business Intelligence Market Share by Region 2022 (USD Billion)

Source: Secondary Research, Primary Research, Market Research Future Database, and Analyst Review

The Europe region’s Business Intelligence market accounts for the second-highest market share due to the increased usage of cloud methods that have expedited business intelligence adoption. Further, the German Business Intelligence market holds the largest market share, and the UK Business Intelligence market is expected to grow and expand significantly in the European region during the projected timeframe.

The Asia-Pacific Business Intelligence Market is expected to grow quickly during the projected timeframe. This is because of the Internet of Things (IoT) industrialization and the rising usage of sophisticated technologies; the need for BI services and solutions is expanding. Moreover, China’s Business Intelligence market dominates the market share, and the Indian Business Intelligence market is expected to expand and grow steadily in the Asia-Pacific region during the projected timeframe.

Leading market players invested heavily in research and Development (R&D) to scale up their manufacturing units and develop technologically advanced solutions, which will help the Business Intelligence market grow worldwide. Market participants are also undertaking various organic or inorganic strategic approaches to strengthen and expand their footprint, with significant market developments including new product portfolios, contractual deals, mergers and acquisitions, capital expenditure, higher investments, and strategic alliances with other organizations.

Businesses are also coming up with marketing strategies such as digital marketing, social media influencing, and content marketing to increase their scope of profit earnings. The Business Intelligence industry must offer cost-effective and sustainable options to survive in a highly fragmented and dynamic market climate.

Manufacturing locally to minimize operational expenses and offer aftermarket services to customers is one of the critical business strategies organizations use in the Business Intelligence industry to benefit customers and capture untapped market share and revenue. The Business Intelligence industry has recently offered significant advantages to the Information technology industry. Moreover, more industry participants are utilizing and adopting cutting-edge Technology has grown substantially.

Major players in the Business Intelligence market, including Microsoft Corporation, International Business Machines Corporation, SAP SE, Oracle, Corporation, Tableau Software, SAS Institute, Pentaho (A Hitachi Company), Qlik Technologies, MicroStrategy, Inc., Information Builders, Tibco Software, Google LLC, Yellowfin International Pty Ltd, Sisense Inc., Panorama, Actuate, Alteryx, Board International, Datawatch, GoodData, Pyramid Analytics, and Salient Management Company, are attempting to expand market share and demand by investing in R&D operations to produce sustainable and affordable solutions.

Oracle is the world's most extensive database management firm, with revenues of $100 million and 4,500 end users in 55 different nations. It provides services and goods to enterprise IT settings across the world. Oracle software for the cloud as a solution includes a variety of cloud software programs. Oracle increased it's inclusive and included data and analytics capabilities in October 2022 to empower business users. With the extra stuff in Oracle Fusion Analytics for ERP, CX, HCM, and SCM data analysis, business users can track performance against corporate objectives using visualizations, KPIs, and analytics.

Microsoft Corporation creates, manufactures, licenses, and supports a variety of software Offerings for many computing systems. It has five divisions: Windows and Windows Live Division, Server & Tools Division, Online Solutions Section, Microsoft Enterprise Division, and Media and Devices Division. Microsoft unveiled Power BI enhanced experiences in Microsoft Teams in January 2023. The three new features announced are rich broadcasting cards for Conversation in Microsoft Teams and an upgrade for old Power BI tabs for taking notes and learning from experiences and needs.