Business Intelligence Market Analysis

In-depth Analysis of Business Intelligence Market Industry Landscape

Sales, a vital business function, deals with a vast amount of data related to shares, stocks, and the market. This data is dynamic and requires real-time updates. Across various industries, there's a growing demand for sales departments to enhance cross-selling and maximize their performance. The sales function is anticipated to hold the largest share in the mobile BI (Business Intelligence) market during the forecast period. In the business function segment, North America is leading the market with a value of USD 351.7 million, expected to reach USD 1,464.5 million by the end of the forecast period. North America is also projected to be the fastest-growing market, with Europe and Asia Pacific following closely, expected to grow at CAGRs (Compound Annual Growth Rates) of 26.84%, 21.97%, and 16.75%, respectively.

The sales function is a crucial aspect of businesses, involving activities such as managing shares, monitoring stocks, and staying updated on market trends. The data associated with sales is dynamic and constantly changing, requiring real-time updates. Across various industries, there is a growing need for sales departments to optimize cross-selling opportunities and enhance overall performance. As a result, the sales function is expected to hold the largest share in the mobile BI (Business Intelligence) market during the forecast period. In terms of business function segmentation, North America is currently the dominant force in the market, with a market value of USD 351.7 million.

This figure is projected to soar to USD 1,464.5 million by the end of the forecast period. Furthermore, North America is anticipated to exhibit the highest growth rate, outpacing Europe and Asia Pacific, with projected CAGRs of 26.84%, 21.97%, and 16.75%, respectively. This signifies a strong and growing demand for mobile BI in the sales domain, with North America leading the way in market adoption and expansion. Studies predict that by the end of 2021, IoT will have over 200 billion connected devices, aiding organizations and individuals in their daily activities. These devices will transmit vast amounts of data to servers. In manufacturing, where sensors monitor production aspects, Mobile BI allows executives to obtain precise production status within seconds. The growth of the IoT market is expected to introduce new features to the Mobile BI market, with the global IoT market projected to surpass USD 1.7 trillion by the end of 2022.