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Business Intelligence Market Growth Projections and Opportunities
The growth of the Internet of Things (IoT) market is a big reason why Mobile Business Intelligence (BI) is also growing. IoT is like a real-world environment where things are connected through the Internet. These things are smart and can sense the environment, making them able to take necessary actions. IoT is crucial for the Mobile BI market's development and expansion. Some concepts related to IoT in organizations include Bring Your Own Device, Smart Manufacturing, Smart Asset Management, Smart Networking, and Data Storage.
A study predicts that by the end of 2021, there will be more than 200 billion connected devices through the Internet of Things. These devices will help organizations and individuals in their daily activities by sending a huge amount of data to servers. Organizations are adopting new software and technologies to store, organize, and retrieve this data when needed. For example, in manufacturing companies, sensors are used to monitor every aspect of production. With Mobile BI, an executive can quickly get precise information about the production status. As the IoT market grows, it will bring new features to the Mobile BI market.
It is expected that the global IoT market will reach a size of over USD 1.7 trillion by the end of 2022. This growth will introduce more capabilities and advancements in the Mobile BI market, making it even more valuable for businesses and individuals. The connection between IoT and Mobile BI shows how technology is evolving to make data more accessible and useful, benefiting various industries and contributing to the overall development of the digital landscape. Organization are opting new software’s and technologies to store and organize these data’s and retrieve it when it is necessary. In a manufacturing companies, where the deployed sensor will be monitoring each and every aspect of the production, through the mobile BI, an executive can have the exact number about the production status within few seconds.
Covered Aspects:| Report Attribute/Metric | Details |
|---|---|
| Market Size Value In 2022 | USD 25.9 Billion |
| Market Size Value In 2023 | USD 29.29 Billion |
| Growth Rate | 13.1% (2023-2032) |
Business Intelligence Market Highlights:
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