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Business Intelligence (BI) market expected to be growing at a CAGR of 9.5% by 2021

Information Technology

Updated on Jun 24, 2019

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According to a new market research report " Business Intelligence Market by Type (Platform, Software, Service), Data type (Unstructured, Semi-Structured, Structured), Business Application, Organization Size, Deployment Model, Industry Vertical, and Region - Global Forecast to 2021", published by MarketsandMarkets™, The global Business Intelligence (BI) market is estimated to grow from USD 17.09 Billion in 2016 to USD 26.88 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 9.5%.

BI helps business users access business data and perform queries to generate insights. It equips business users with easy-to-use data exploration, data preparation, appropriate analytics, and data visualization tools & techniques.

Browse and in-depth TOC on “Business Intelligence Market

89 - Tables

46 - Figures

167 - Pages   

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Major Key Companies:

Key players in the market include Microsoft (US), IBM (US), SAP (Germany), Oracle (US), Tableau (US), SAS Institute (US), Qlik (US), MicroStrategy (US), Information Builders (US), TIBCO Software (US), Pentaho (US), Yellowfin (Australia), Sisense (US), and Panorama (Canada). These players are increasingly undertaking mergers and acquisitions, and product launches to develop and introduce new technologies and products in the market.

The major factors driving the BI market are increasing adoption of cloud, growth of advanced analytics, adoption of data-driven decision-making, and the emergence of Internet of Things (IoT)-enabled technologies. The market is growing rapidly because of the transformation from traditional techniques for analyzing business data to advanced BI techniques and the massive surge in the volumes structured and unstructured data.

Unstructured data type is expected to grow at the highest CAGR

The Business Intelligence Market is segmented by data type into structured, unstructured, and semi-structured data types. If the collected data is left unmanaged, it becomes tough to retrieve right data information when needed. BI is gaining traction due to its capabilities to handle and manage such unmanaged data. The rise and development of IoT has propelled rapid growth in data volumes. Unlike the structured data, the unstructured data cannot be displayed in rows and columns, thus making it complex for processing and analysis. The unstructured data type is expected to grow at the highest CAGR during the forecast period. Increasing demand of analytics and adoption of IoT devices among SMEs are the main reasons for the generation of unstructured data.

BFSI is estimated to have the largest market size in 2016

The BI market is also segmented by various verticals, out of which the adoption rate of BI is expected to be the highest in the Banking, Financial Services, and Insurance (BFSI) vertical, as the volume and variety of data is increasing day-by-day with the growing demand of IT systems for financial transactions in banks and other financial service institutions.

North America is expected to dominate the BI market during the forecast period

North America is estimated to hold the largest share of the BI market in 2016 due to the technological advancements and early adoption of BI solutions in the region. The market in Asia-Pacific (APAC) is expected to grow at the highest CAGR during 2016–2021. The main driving forces for this growth are increasing technological adoption and huge opportunities across verticals in the APAC countries, especially India, China, and Japan.

Browse Complete Report @ https://www.marketsandmarkets.com/Market-Reports/social-business-intelligence-bi-market-1048.html

Key Target Audience for Business Intelligence Market


  • Solution vendors

  • Original equipment manufacturers

  • System integrators

  • Advisory firms

  • National regulatory authorities

  • Venture capitalists

  • Private equity groups

  • Investment houses

  • Equity research firms


About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.


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