According to the 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%.
Don’t miss out on business opportunities in Business
Intelligence Market. Speak to our analyst and gain crucial industry
insights that will help your business grow:
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 BI 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...
Browse and in-depth TOC on " Application
Management Services Market "
89 - Tables
46 - Figures
167 - Pages
View more detailed TOC @
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.
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The report also encompasses different strategies, such as
acquisitions, partnerships, collaborations & agreements, expansions, and
new product launches & product upgradations, adopted by the major players
to increase their share in the market. Major BI technology vendors include
Microsoft Corporation (U.S.), IBM Corporation (U.S.), SAP SE (Germany), Oracle
Corporation (U.S.), Tableau Software (U.S.), SAS Institute (U.S.), Qlik
Technologies (U.S.), MicroStrategy (U.S.), Information Builders (U.S.), TIBCO
Software (U.S.), Pentaho (U.S.), Yellowfin International (Australia), Sisense
(U.S.), and Panorama (Canada).
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