Business Intelligence Software Market Demands, Growth, Trends and Forecast to 2025

Felton, California , USA, Dec 09, 2020 — /EPR Network/ — The global business intelligence (BI) software market size is anticipated to value USD 48.5 billion until 2025. It is also expected to register a CAGR of 10.1% over the forecasted years, 2019 to 2025. The rising need for analyzing data and making strategic decisions is expected to drive the demand for the market in the upcoming years.

The finance functional segment witnessed the highest share across the global market due to the surging usage of these tools for processing, analyzing and collecting financial data. While the segment of executive management is anticipated to register substantial growth in the upcoming years owing to its surging adoption by the majority of enterprises for making strategic business decisions.

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 COVID-19 Impact Insights

The market is gaining momentum due to the ongoing COVID-19 crisis. This can be attributed to the increased usage of technologies like AI (Artificial Intelligence), AR (Augmented Reality), and VR (Virtual Reality) for addressing the issues arising during the times of pandemic. Moreover, their usage for prediction of COVID impact in the current and future market scenarios across various sectors is gaining traction. For example, the rising need for the development of vaccines has urged several players across healthcare and pharmaceutical sectors to make use of AI and BI software in R&D activities. Also, the usage of such software for enhancing online education is driving its demand across several major institutions. Also, their features like remote and easy access can help in reducing unnecessary travels and provide deep insights about current market scenarios.

The query, reporting & search tools dominated the global market in 2018 due to surging need for raw data transportation and in-depth analysis. On the other hand, the dashboards & scoreboards segment is anticipated to witness the highest growth on account of their surging usage for analyzing data and allowing end-users and corporate staff with the ongoing business decisions.

In 2018, the BFSI end-use segment dominated the global market due to its rising usage of such software for providing enhanced access to the client database, boosted client experience, and secured transactions. While the segment of manufacturing is anticipated to witness substantial growth over the forecasted period on account of an increasing need for the removal of conventional approaches and replacing them with data-centric structures.

The BI software market includes key players such as Microsoft Corporation, SAP SE, Google, Inc., IBM Corporation, Tableau Software, and Cloud9 Analytics. They are constantly engaged in product development, launching updates and innovation to gain a competitive advantage over other players. 

Further key findings from the report suggest:

• In 2018, the technology segment of cloud business intelligence held the largest share across the global market.
• The finance function segment dominated the global market in 2018 and was valued USD 7.6 Billion.
• Asia Pacific is anticipated to witness highest growth across the global market over the forecasted years.

Global Business Intelligence Software Market: Key Players

Microsoft Corporation, SAP SE, Google, Inc., IBM Corporation, Tableau Software, and Cloud9 Analytics. 

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