Business Intelligence Software Market To Reach $86.69 Billion By 2030

Business Intelligence Software Market Growth & Trends

The global business intelligence software market size is expected to reach USD 86.69 billion by 2030, registering a CAGR of 13.7%, according to a new report by Grand View Research, Inc. Proliferation of internet technology and growing demand for data-driven models across various organizations is expected to boost the market growth. Business intelligence (BI) forms a crucial component for success of any organization and leads them towards accessing information to enhance their work processes. BI is instrumental in identifying the opportunities and threats by enabling the organizations to adapt to the dynamics of operations, thus helping to survive in the corporate world.

BI tools are essential for smooth functioning of BI software, as such tools have a huge impact on possibilities and functionalities of BI applications. BI software is increasingly being used in various end-use industries to streamline operations, reduce costs, minimize risks, and strengthen the relationships between suppliers and customers. These factors are expected to drive the market over the forecast period.

Inception of novel technologies and rise in number of BI vendors in domains such as machine learning and analytics is expected to stimulate the market growth. In addition, data sets need organizations to invest in advanced technologies such as artificial intelligence, machine learning, and big data to strengthen the analysis of enormous data sets. The software can help employees in claiming the responsibility of their respective work areas by using the operating numbers and facts, and making data-driven decisions. Additionally, adoption of BI tools helps in improving visibility across the organization by helping employees in understanding the organization-wide decisions and gauging the impact of their respective decisions against the enterprise as a whole.

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Business Intelligence Software Market Report Highlights

• The cloud BI segment dominated the market in 2023 and is expected to maintain its dominance over the forecast period. The segment covers the cost for hardware and software problems and offers feasible solutions without any major alteration

• The executive management segment is expected to gain traction as BI software is widely used in large organizations to implement strategic decisions

• BI software is majorly used in the banking sector due to technological advancements and customer oriented way of working

• The small and medium enterprises segment is expected to grow at the fastest CAGR over the forecast period. Increasing number of small and medium enterprises globally and rising demand to modernize their operations is driving the small and medium enterprises segment

• In the manufacturing sector, BI software is being widely adopted, since data-driven models have replaced the process-oriented models

• The Asia Pacific regional market is expected to register highest growth over the forecast period. Rising volume of data and the growing need for competitive insights across end use industries is expected to drive the growth of BI market in the region

Business Intelligence Software Market Segmentation

Grand View Research has segmented the global business intelligence software market report based on BI technology, function, deployment, enterprise size, end use, and region:

Business Intelligence Software BI Technology Outlook (Revenue, USD Million, 2018 - 2030)

• Cloud BI

• Mobile BI

• Social BI

Business Intelligence Software Function Outlook (Revenue, USD Million, 2018 - 2030)

• Executive Management

• Marketing

• Sales

• Operations

• Finance

• Human Resources

• Supply Chain

Business Intelligence Software Deployment Outlook (Revenue, USD Million, 2018 - 2030)

• Cloud

• On-Premise

Business Intelligence Software Enterprise Size Outlook (Revenue, USD Million, 2018 - 2030)

• Large Enterprises

• SMEs

Business Intelligence Software End Use Outlook (Revenue, USD Million, 2018 - 2030)

• BFSI

• Manufacturing

• Healthcare

• Retail

• IT & Telecom

• Others

Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

• Latin America

  • Brazil

• Middle East and Africa (MEA)

  • South Arabia

  • UAE

  • South Africa

List of Key Players in Business Intelligence Software Market

• IBM Corporation

• Microsoft

• Tableau Software, LLC (Salesforce, Inc.)

• Oracle

• Sisense Ltd

• Yellowfin International Pty Ltd (Yellowfin)

• QlikTech International AB,

• SAP SE

• Board International

• MicroStrategy Incorporated.