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Business Intelligence Market to Reach USD 39.35 billion by 2027; Increasing Acceptance of Big Data Analytics to Intensify Market, states Fortune Business Insights™

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Pune, Jan. 14, 2021 (GLOBE NEWSWIRE) — The global business intelligence market size is expected to reach USD 39.35 billion by 2027, exhibiting a CAGR of 8.5% during the forecast period. The rapidly evolving digital competencies in new business models can have an excellent impact on the global market, states Fortune Business Insights, in a report, titled “Business Intelligence Market Size, Share & COVID-19 Impact Analysis, By Component (Solution, and Services), By Deployment (Cloud, and On-Premise) By Enterprise Size (Large Enterprises, Small and Medium-Sized Enterprises (SMEs)), By Application (Supply Chain Analytic Applications, CRM Analytic Applications, Financial Performance, and Strategy Management, Production Planning Analytic Operations, and Others), By End-User (IT and Telecommunications, Banking, Finance, Security and Insurance (BFSI), Healthcare, Manufacturing, Retail, and Others), and Regional Forecast, 2020-2027.” The market size stood at USD 20.60 billion in 2019.Click here to get the short-term and long-term impact of COVID-19 on this market.

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The whole world is battling with the novel coronavirus, leaving numerous industries distraught. The authorities of several countries have initiated lockdown to prevent the spread of this deadly virus. Such plans have caused disturbances in the production and supply chain. But, with time and resolution, we will be able to combat this stern time and get back to normality. Our well-revised reports will help companies to receive in-depth information about the present scenario of every market so that you can adopt the necessary strategies accordingly.The report on the business intelligence market highlights:All-inclusive analysis of the marketDynamic insights into the segmentsExtensive data about dominant regionsKey information about prominent playersLatest developmentsMarket drivers and restraintsCOVID-19 impact on the market
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Market Driver:Advent of Cloud Computing and Big Data to Boost Market GrowthThe increasing adoption of cloud computing and big data analytics owing to its superior technological capabilities will foster the healthy growth of the market. For instance, cloud computing is regarded as an ideal platform to provide business intelligence applications as it serves as a repository for structured and unstructured data. Likewise, big data technology enables BI to analyze a large amount of data to deliver actionable insights into businesses and generate opportunities. The increasing need for business intelligence solutions to analyze huge chunks of data for social media channels will enable speedy expansion of the market during the forecast period. Therefore, the burgeoning social media platforms coupled with e-commerce popularity will have an outstanding effect on the market in the forthcoming years.Emergence of Advanced Visualization Dashboards to Incite Business Amid CoronavirusThe market players are focused on advanced visualization dashboards to help users to get real-time status of the Coronavirus. For instance, Dundas Data Visualization, Inc. developed real-time dashboards from Dundas BI. The COVID-19 dashboard helps the users to explore the real-time data by geography and stay updated. Similarly, Microsoft’s Power BI in working with USAFacts organization to empower the users to visualize and interact with COVID-19 dataset. Thus, data visualization dashboards are expected to uplift the market during the coronavirus pandemic.
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Regional Analysis:Business Expansion Plans to Support Market in Asia PacificThe market in Asia Pacific is expected to hold the largest share in the global market during the forecast period due to the lucrative business expansion projects in the countries such as India, China, Singapore, Japan, and others. The presence of major players will further aid the expansion of the market in the region. For instance, in February 2020 – Sisense expanded its presence across Australia to support the growing demand for business intelligence and analytics. The company also announced a funding of USD 100 million with approximately more than USD 1 billion valuations to power its growth. The Middle East and Africa is expected to expand radically during the forecast period owing to the rising unemployment & inflation. The surging financial sector is expected to augment the growth of the market in the Middle East and Africa.Key Development:October 2019: M3, Inc. announced the launch of a business intelligence platform namely ‘Insight’. The platform is an integrated tool featuring mobile compatibility, ad hoc reporting, robust analytics, and powerful user-driven dashboards.The Report Lists the Key Companies in the Business Intelligence Market:Microsoft Corporation (Washington, United States)Tableau Software, LLC (Salesforce) (Washington, United States)IBM Corporation (New York, United States)SAS Institute Inc. (North Carolina, United States)SAP SE (Walldorf, Germany)Oracle Corporation (California, United States)QlikTech International AB (Pennsylvania, United States)Sisense Inc.  (Pennsylvania, United States)Board International S.A. (Chiasso, Switzerland)Logi Analytics, Inc. (Virginia, United States)Teradata Corporation (California, United States)MicroStrategy Incorporated (Virginia, United States)Informatica LLC (California, United States)Domo, Inc. (Utah, United States)Hitachi Vantara LLC (Pentaho), (Tokyo, Japan)TARGIT (Denmark)Yellowfin International Pvt Ltd (Melbourne, Australia)Arcadia Data Inc. (London, United Kingdom)Infor (Birst) (New York, United States)BITAM (Atlanta, Georgia)1010data, Inc. (New York, United States)Dundas Data Visualization, Inc. (Canada)
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Major Table of Content:IntroductionDefinition, By SegmentResearch Methodology/ApproachData SourcesKey TakeawaysMarket DynamicsMacro and Micro Economic IndicatorsDrivers, Restraints, Opportunities and TrendsImpact of COVID-19Short-term ImpactLong-term ImpactCompetition LandscapeBusiness Strategies Adopted by Key PlayersConsolidated SWOT Analysis of Key PlayersPESTLE AnalysisPorter’s Five Force AnalysisEcosystem Analysis Global Business Intelligence Market Share Analysis and Matrix, 2019Key Market Insights and Strategic RecommendationsProfiles of Key Players (Would be provided for 10 players only)OverviewKey ManagementHeadquarters etcOfferings/Business SegmentsKey Details (Key details are subjected to data availability in public domain and/or on paid databases)Employee SizeKey FinancialsPast and Current RevenueGross MarginGeographical ShareBusiness Segment ShareRecent DevelopmentsPrimary Interview ResponsesAnnexure / AppendixGlobal Business Intelligence Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027By Component (Value)SolutionAnalytical ApplicationsCorporate Performance Management(CPM) SuitesBI PlatformServicesBy Deployment (Value)CloudOn-premiseBy Enterprise Size (Value)Small and mid-sized EnterprisesLarge EnterprisesBy Application (Value)Supply chain analytic applicationsCRM analytic operationsFinancial performance and strategy managementProduction planning analytic operationsOthers (workforce analytic operations, services operations)By End-use Industry (Value)BFSIIT and TelecommunicationRetail and Consumer GoodsManufacturingHealthcareOthersBy Region (Value)North AmericaSouth AmericaEuropeMiddle East & AfricaAsia PacificTOC Continued..
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