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Business Intelligence Platform Market

Global Market Study on Business Intelligence Platforms: Rapidly Rising Adoption among Retailers Catalyzing Market Growth

Demand for business intelligence platforms Market in the Europe region will hold around 23.4% of the market in 2023. Business Intelligence market consist of nearly 25% of the global enterprise data analytics platform market.

Business Intelligence Platform Market Size (2024-2033)

The market for business intelligence platforms was valued at US$ 17,439.2 Mn in 2023, and by the end of 2033, it is expected to have grown to US$ 53,265.5 Mn. The market for business intelligence platforms is estimated to value at US$ 21,100.3 Mn in 2024 and is predicted to grow at a CAGR of 10.8% from 2024 to 2033.

A Business Intelligence (BI) platform is a set of tools and technologies used to gather, store, access, and analyse data to support decision-making in an organization. These platforms often include features such as reporting, data visualization, dashboards, and analytics, and may be used to support a variety of business functions such as finance, operations, and marketing.

Business Intelligence platforms can be used to track key performance indicators, identify trends and patterns in data, and make data-driven decisions. They may also be used to integrate data from multiple sources, such as transactional systems and external data feeds, and to provide self-service access to data for users across an organization.

In terms of the regional market landscape, the market in North America held a leading market share of 28.9% in the global landscape in 2023 and is expected to retain its leading position throughout the forecast period. Meanwhile, demand for business intelligence platforms in the Europe region will hold around 23.4% of the market in 2024.

Business Intelligence market consist of nearly 25% of the global enterprise data analytics platform market.

Business Intelligence Platform Market Size (2024)

US$ 21,100.3 Mn

Projected Market Value (2033)

US$ 53,265.5 Mn

Global Market Growth Rate (2024-2033)

10.8%

Platform Segment Market Share (2023)

53.4%

China Market Growth Rate (2023)

12.1%

Operations Management Segment Market Share (2023)

19.6%

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What Challenges Will Hamper the Growth of the Business Intelligence Platform Market?

“The Initial Investment and Skilled Employee”

The initial investment in purchasing appropriate business intelligence software or platforms, implementing them in organizations, and sustaining and training employees on how to use them remains very high. When companies invest in new tools and technologies, the first thing that comes to mind is the budget. Businesses, particularly SMEs, are constrained by limited budgets and resources. SMEs are most concerned about the cost of deploying business intelligence.

  • In January 2023, Microsoft acquired Fungible Inc., to boost data center innovation. Fungible Inc. is the vendor of microservices infrastructure that uses advanced, low-power data processing units to accelerate connectivity and storage performance in data centers (DPUs).
  • In January 2023, My digital office (MDO) acquired InTouch Data, boosting its position as the world's leading provider of hospitality business intelligence.
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Why is U.S Electronics Industry is booming in Business Intelligence Platform Market?

“Rising demand for cloud-based BI solutions and real-time data analysis”

There are a variety of BI vendors and solutions available in the US market, including both large multinational corporations and small specialized companies. Some of the major BI vendors in the US market include Microsoft, IBM, Oracle, SAP, Tableau, and Qlik.

The US BI market is driven by factors such as the increasing adoption of big data analytics, the need for better decision-making and improved efficiency, and the growing need for real-time data analysis. Additionally, increasing demand for cloud-based BI solutions, as well as the emergence of advanced technologies such as artificial intelligence and machine learning, are also driving the market growth.

Due to these the business intelligence platform service market was estimated to have the largest market share of 15.4% in 2023.

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What are the factors driving Business Intelligence Platform Market in India?

“Rising Adoption of Big Data Analytics and Real-Time Data Analysis by Organizations”

The Indian BI market is primarily driven by the increasing adoption of big data analytics and the growing demand for real-time data analysis. Additionally, the increasing demand for cloud-based BI solutions and the emergence of advanced technologies such as artificial intelligence and machine learning are also driving the market growth.

The Indian government has also played a role in the growth of the BI market in India by launching several initiatives such as Digital India, Smart Cities, and Make in India, which has increased the demand for BI solutions in India.

Due to this, the business intelligence platform market is estimated to grow at a CAGR of 14.3% over the forecast period in India.

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Why Business Intelligence Platform Market Demand Is Rising in China?

“Increasing Government Investment in Projects in China”

The Chinese government has also played a role in the growth of the BI market in China by launching several initiatives such as Made in China 2025, Internet Plus, and belt and road initiative, which has increased the demand for BI solutions in China. The Chinese BI market has a wide range of customers who use BI to analyse data to support decision-making in an organization including small, medium, and large enterprises, across various industries such as banking, financial services, insurance, retail and e-commerce, healthcare, manufacturing, and IT and telecommunications.

Category-wise insights

Which Solution Holds a Larger share market in Business Intelligence Platform Market?

“Platform Segment Market Held a Larger Share Market”

The platform segment is expected to hold a higher share of the market accounting for more than 53.4% of the market share in 2023.

The BI platform market is highly competitive, with vendors constantly developing new solutions and features to meet the evolving needs of their customers. The market is also rapidly evolving, with new technologies and solutions emerging regularly. As a result, companies must stay abreast of the latest developments and trends in the market in order to remain competitive.

Why Does Operations Management in Business Intelligence Platform Market Hold the Largest Market Share?

The integration of BI into OM for Making Data Driven Decisions Helps the Segment Grow”

Operations management (OM) and business intelligence (BI) are closely related fields, as both are focused on using data and analytics to improve decision-making and drive business performance. The integration of BI into OM is becoming increasingly common, as organizations strive to gain real-time visibility into their operations and make data-driven decisions.

The integration of BI into OM allows organizations to gain real-time visibility into their operations and make data-driven decisions. This can help organizations improve efficiency, reduce costs, and increase revenue. Additionally, the increasing adoption of cloud-based solutions and the emergence of advanced technologies such as artificial intelligence and machine learning are also driving market growth in this field.

Due to these the business intelligence platform market for operations management was estimated to have the largest market share of 19.6% in 2023.

Competitive Landscape

Companies that providing business intelligence platforms are trying to make their solutions user friendly, so that employees without the necessary skills could still derive information from these platforms.

  • In January 2023, Crave InfoTech launched a platform-driven intelligent enterprise computing solution on SAP BTP, it reveals the long-term- term strategy of an intelligent platform enhanced by the appropriate extensions.
  • In October 2022, Digital Science acquired metaphacts an expertise chart and decision intelligence software company. This collaboration creates new, joint knowledge democratization solutions, facilitating the interface between humans and machines and assisting in the transformation.

Recent developments related to key players providing business intelligence platform market have been tracked by the analysts at Persistence Market Research, which will be accessible in the full report.

Business Intelligence Platform Market Report Scope

Attribute

Details

Forecast Period

2024-2033

Historical Data Available for

2018-2023

Market Analysis

US$ Mn for Value

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East and Africa (MEA)

Key Countries Covered

  • United States
  • Canada
  • Brazil
  • Mexico
  • Germany
  • U.K.
  • France
  • Spain
  • Italy
  • China
  • Japan
  • South Korea
  • India
  • Indonesia
  • Malaysia
  • Singapore
  • Australia
  • New Zealand
  • Turkey
  • South Africa
  • GCC Countries

Key Market Segments Covered

  • Solution
  • Application
  • Deployment
  • Enterprise Size
  • Industry
  • Region

Key Companies Profiled

  • Oracle
  • SAP Se
  • Microsoft
  • SAS
  • DOMO, Inc.
  • IBM
  • Tableau Software (Salesforce.com, Inc.)
  • Sisense
  • Tibco Software
  • Zoho Corporation Pvt. Ltd.

Pricing

Available upon Request

Key Segments of Business Intelligence Platform Market Research

By Solution:

  • BI Platform
  • Services
    • Professional Services
      • Business Consulting
      • Integration & Deployment
      • Support & Maintenance
    • Managed Services

By Application:

  • Supply Chain Operations
  • Sales & Marketing Management
  • Fraud, Risk & Compliance Management
  • Operations Management
  • Predictive Maintenance 
  • Others

By Deployment:

  • Cloud
  • On- premise

By Enterprise Size:

  • Small & Medium Enterprises
  • Large Enterprises

By Industry:

  • Manufacturing
  • Travel & Hospitality
  • Retail
  • Healthcare
  • IT & Telecom

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East and Africa (MEA)

- Companies Covered in This Report -

  • Oracle
  • SAP Se
  • Microsoft
  • SAS
  • DOMO, Inc.
  • IBM
  • Tableau Software (Salesforce.com, Inc.)
  • Sisense
  • Tibco Software
  • Zoho Corporation Pvt. Ltd.

- Frequently Asked Questions -

In 2023, demand for business intelligence platforms markets for a valuation of US$ 19,043.6 Mn.

The global business intelligence platform market is estimated at 10.8% CAGR through 2033.

The market for the business intelligence platform is forecasted to climb to US$ 53,265.5 Mn by 2033-end.

Demand for business intelligence platforms in China is projected to rise 12.1% CAGR over the next ten years.

In 2023, the North American business intelligence platform market held a dominant market share of 28.9%.

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