Pune, Feb. 19, 2025 (GLOBE NEWSWIRE) -- Business Intelligence Market Size Analysis:

“The Business Intelligence Market, valued at USD 29.11 billion in 2023, is projected to reach USD 68.72 billion by 2032, growing at a 10.09% CAGR.”

The growth is fueled by adoption of AI, analytics and cloud solutions, changing investment trends and rising cyber security threats. Data-driven decision-making is key for businesses while regional variability in technology maturity and risk management continues to drive market forces.

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Major Players Analysis Listed in this Report are:

• Microsoft (Power BI, Azure Synapse Analytics)
• Tableau Software (Salesforce) (Tableau Desktop, Tableau Server)
• IBM (Cognos Analytics, Watson Studio)
• Qlik (Qlik Sense, QlikView)
• SAP (SAP BusinessObjects, SAP Analytics Cloud)
• Oracle (Oracle Analytics Cloud, OBIEE)
• Redash (Databricks) (Redash, Databricks SQL)
• Mode Analytics (Mode Studio, Mode Business)
• Infor (Infor Birst, Infor Coleman AI)
• SAS (SAS Visual Analytics, SAS Enterprise Guide)
• Google (Looker, BigQuery BI Engine)
• AWS (Amazon QuickSight, AWS Glue)
• Salesforce (Tableau, Einstein Analytics)
• MicroStrategy (MicroStrategy ONE, HyperIntelligence)
• Teradata (Vantage, Teradata Data Lab)
• DOMO (Domo BI, Domo Data Science)
• TIBCO (TIBCO Spotfire, TIBCO Data Virtualization)
• Information Builders (WebFOCUS, iWay Data Management)
• Sisense (Sisense Fusion, Sisense Analytics)
• Yellowfin (Yellowfin BI, Yellowfin Signals)
• Board International (Board, Board Marketplace)
• Dundas (Dundas BI, Dundas Dashboard)
• Targit (TARGIT Decision Suite, TARGIT InMemoryDB)
• Zoho (Zoho Analytics, Zoho Creator)
• Vphrase (Phrazor, Explorazor)
• dotdata (dotdata Enterprise, dotdata Stream)
• Amlgo Labs (Amlgo BI, Amlgo AI Insights)
• Pentation Analytics (Pentation InsurTech, Pentation AI Suite)
• Hitachi Vantara (Pentaho, Lumada)
• Outlier (Outlier AI, Outlier Explorer)
• ConverSight AI (ConverSight Assistant, ConverSight Insights)
• Element Data (Element AI, Decision Intelligence Platform)
• Alteryx (Alteryx Designer, Alteryx Intelligence Suite)
• ThoughtSpot (ThoughtSpot Cloud, ThoughtSpot Everywhere)

Business Intelligence Market Report Scope:

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By Component, Solution Segment Leads Business Intelligence Market, Services Segment to Grow at Fastest CAGR

In 2023, the Solution segment accounted for 69% revenue share, driven by increasing adoption of AI-powered analytic tools, data visualization tools and self-service BI platforms. BI solution empowering businesses with heightened decision-making, process automation and competitive insights – will keep the momentum rolling with investments in analytics.

The Services segment is expected to grow at the fastest CAGR of 11.67% during 2024-2032, owing to the increasing demand for consulting, integration, and managed services. This creates the demand of expert support for BI implementation, customization, and optimization, which is driving the adoption of this service among organizations and contributing to market growth.

By Deployment Mode, On-Premises Deployment Dominates BI Market, Cloud-Based BI Solutions to Grow Fastest Rate

The On-premises segment held a 52% revenue share in 2023, driven by data security, compliance needs, and infrastructure control. Large enterprises and regulated industries prefer on-premises BI solutions to protect sensitive information and ensure seamless integration, reinforcing their reliance on secure, in-house data management systems.

The Cloud segment is expected to grow at a 10.60% CAGR from 2024-2032, driven by scalability, cost efficiency, and ease of deployment. The increasing need for remote work capabilities and real-time data access accelerates cloud BI adoption, transforming business operations with flexible and efficient analytics solutions.

By organization size, Large Enterprises Lead BI Market in 2023, SMEs to Experience 11.12% CAGR Growth in Business Intelligence Market

Large enterprises dominated the BI market with a 64% revenue share in 2023, leveraging advanced analytics and substantial IT investments for strategic decision-making. With vast data needs, these organizations prioritize BI to enhance operational efficiency, gain competitive advantage, and drive long-term business growth.

Small and Medium-sized Enterprises are set to grow at an 11.12% CAGR from 2024-2032, driven by increasing awareness of data-driven decision-making. Cost-effective cloud BI solutions and self-service analytics tools enable SMEs to optimize operations, improve competitiveness, and make informed business decisions.

By End Use, BFSI Sector Leads BI Market in 2023, Healthcare Sector to Grow at Fastest 12.82% CAGR

The BFSI sector accounted for 25% of the BI market revenue in 2023, utilizing BI for fraud detection, risk management, regulatory compliance, and customer analytics. Financial institutions leverage BI tools to enhance operational efficiency, security, and decision-making, strengthening their market presence.

The Healthcare sector is projected to grow at a 12.82% CAGR from 2024-2032, driven by rising demand for data-driven patient care, predictive analytics, and operational efficiency. AI-powered diagnostics and personalized treatment planning accelerate BI adoption, revolutionizing healthcare decision-making and patient outcomes.

Business Intelligence Market Segmentation:

By component

• Solutions
• Services

By deployment mode

• Cloud
• On-premises

By organization size

• Large Enterprises
• Small and Medium-sized Enterprises

By business function

• Human Resource
• Finance
• Operations
• Sales and Marketing

By End-use Industry

• BFSI
• IT and Telecommunication
• Retail and Consumer Goods
• Manufacturing
• Healthcare
• Others

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By Business Function, Finance Segment Holds 32% Revenue Share in BI Market, HR Analytics to Grow at Fastest CAGR

The Finance segment led the BI market with a 32% revenue share in 2023, driven by the need for financial planning, risk assessment, fraud detection, and regulatory compliance. Businesses use BI to analyze financial data, optimize budgeting, and enhance strategic decision-making.

The Human Resource segment is expected to grow at an 11.75% CAGR from 2024-2032, with BI adoption rising for workforce analytics, talent management, and performance tracking. HR departments leverage BI to enhance employee engagement, optimize talent strategies, and improve decision-making.

North America Leads Business Intelligence Market in 2023, Asia Pacific to Experience Fastest CAGR

In 2023, Business Intelligence Market was dominated by North America accounting for a revenue share of 38% due to presence of advanced technological infrastructure, strong presence of leading BI solution providers and early adoption of AI powered analytics. Across many key sectors such as BFSI, healthcare, and retail, businesses adopted BI tools to run their organizations better, make data-driven decisions, and stay one step ahead of the competition.

The Asia Pacific is expected to grow at the fastest CAGR of 12.57% from 2024 to 2032 owing to factors such as the fastest digital transformation, universal cloud adoption and increasing investments for data analytics solutions. Companies from emerging economies are aware of BI utilization and began to use it to improve operations and customer knowledge.

Table of Contents – Major Key Points

1. Introduction

2. Executive Summary

3. Research Methodology

4. Market Dynamics Impact Analysis

5. Statistical Insights and Trends Reporting

6. Competitive Landscape

7. Business Intelligence Market Segmentation, By Component

8. Business Intelligence Market Segmentation, By End Use

9. Business Intelligence Market Segmentation, By Business Function

10. Business Intelligence Market Segmentation, By Deployment Mode

11. Business Intelligence Market Segmentation, By Organization Size

12. Regional Analysis

13. Company Profiles

14. Use Cases and Best Practices

15. Conclusion

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