The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

A substantial rise in the demand for real-time analytics are expected to drive innovation in business intelligence (BI) software manufacturing, thus driving the market during the forecast period.

The global business intelligence (BI) software market is expected to grow from $40.78 billion in 2022 to $48.74 billion in 2023 at a compound annual growth rate (CAGR) of 19.5%. The global bi software market size is expected to grow to $93.83 billion in 2027 at a CAGR of 17.8%.

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Global business intelligence (BI) software market segments include:

• By Deployment: On-Premise, On-Cloud
• By Application: BFSI, Telecomm, IT, Retail and Consumer Goods, Healthcare and Life sciences, Manufacturing
• By Type: Unstructured Data, Semi Structured Data, Structured Data
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global business intelligence (BI) software market in 2021.Major Market Players in the business intelligence (BI) software market include Microsoft BI, IBM Congnos, SAP, SAS, Oracle BI, Micro Strategy, Qlik, Tableau, Sisense, Domo, Yellowfin BI.

Companies in the end-user industries are increasingly adopting cloud-based business intelligence tools in order to enhance security, access from anywhere online, and benefit from the advantages of economies of scale. The cloud-based BI software is a virtual network, that can be accessed via the internet hosted on the vendor’s servers to aid efficient connectivity of devices. Cloud-based BI software benefit the companies with its cost-effectiveness and low investment as no additional hardware costs are involved, short implementation time and others. According to study published by Flexera, the USA-based computer software company, in August 2021, more than 50% of enterprises are spending between $1.2 million and $2.4 million, and 38% of enterprises are spending more than $2.4 million on cloud technologies.

The Business Intelligence (BI) Software Global Market Report 2023  provides a business intelligence (BI) software market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The business intelligence (BI) software market forecast analyzes business intelligence (BI) software market size, business intelligence (BI) software market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Business Intelligence (BI) software is a combination of tools designed to find, organize, consolidate, analyze, and present complex data in understandable reports for insights.

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