Business Intelligence Market 2022 Strategic Analysis, Growth Drivers, Industry Trends, Demand And Future Opportunities Till 2032

-

 

During the forecast period, the business intelligence market is expected to grow at a CAGR of 7%. The business intelligence industry is expected to grow to $52.6 billion by 2032, up from $26.7 billion in 2022. 

Various factors, such as a greater focus on digital transformation, higher investments in analytics, increasing need for data visualisation dashboards, increased cloud use, and increased data generation, are expected to drive up demand for business intelligence. 

Cloud computing and big data analytics have gained popularity in recent years, according to the current business intelligence industry adoption trends. Cloud computing is seen as a potential platform for supplying BI applications as a storehouse for organised and unstructured data. 

COVID-19 has made it even more important for all firms to put their data to work in order to make faster decisions. 

A comprehensive business intelligence approach can help organisations define appropriate metrics to better endure a crisis, which can be a silver lining for many businesses in these hard times. 

Important Points to Remember 

  • The cloud segment of the business intelligence market is predicted to grow at a CAGR of 6.4 percent over the forecast period, according on deployment model. 
  • According to the FMI analysis, the US business intelligence industry is expected to reach a value of US$ 18.3 billion by 2032. 
  • The HR business function category is predicted to grow at a quicker rate over the forecast period due to the rising need for workforce management. Several companies are employing business intelligence tools to help HR managers to make personnel choices in real time. 

Competitive Environment 

Business intelligence providers have employed a number of organic and inorganic growth tactics to improve their goods in the market, including new product launches, product updates, partnerships and agreements, business expansions, and mergers and acquisitions. The leading vendors in the worldwide business intelligence industry include Google, Salesforce, Oracle, Qlik, Board International, Infor, SAP, AWS, Sisense, MicroStrategy, DOMO, TIBCO, Yellofin, Teradata, Information Builders, IBM, and Microsoft. 

Read Full Report - https://www.futuremarketinsights.com/reports/business-intelligence-market

Comments

Post a Comment

Popular posts from this blog

Thionyl Chloride Market Size, Share, Revenue Demand & Growth by 2034

-
Heightening concerns related to water treatment are likely to further fuel its growth engine in the near term. According to the latest report by FMI, the global  thionyl chloride market  is expected to reach a valuation of US$ 829.9 million by 2034. The industry is expected to experience revenue growth at a moderate CAGR of 4.8% during the forecast period. Thionyl chloride is used in various end-use industries such as agrochemicals, pharmaceuticals, dyes & pigments, and organic synthesis. The rising adoption of pesticides in developing countries and developments in the pharmaceutical industry are expected to drive the growth of the thionyl chloride market over the forecast period. However, a majority of end users of thionyl chloride are facing a massive slowdown due to the coronavirus (COVID-19) pandemic. This is substantially widening the supply-demand gap, and, as such, straining the revenue pool of the thionyl chloride market. Further, China – the epicenter of the pandemic – is
Read more

Bonded Magnet Market Size, Share, Revenue Demand & Growth by 2034

-
  The  bonded magnet market size  is projected to be around US$ 2,597.40 million in 2024. The demand for bonded magnets is anticipated to expand at a CAGR of 4.80% through 2034. The industry is projected to surpass US$ 4,150.99 million by 2034. The bonded magnet industry is primarily driven by the increasing demand for miniaturization and lightweight components in various applications such as automotive, consumer electronics, and medical devices. The rising focus on sustainability and environmental concerns has propelled the adoption of bonded magnets, which are manufactured using environmentally friendly processes and materials. One of the latest trends in the bonded magnet industry is the development of hybrid magnet systems combining bonded magnets with other materials like plastics or composites. These hybrid systems offer unique properties and performance characteristics, catering to specific application requirements such as weight reduction or thermal stability. One significa
Read more

Magnesium Carbonate Market Size, Share, Demand, Growth & Trends by 2032

-
Magnesium carbonate is largely utilized as a raw material for the manufacturing of magnesium oxide, a refractory material employed in the cement and steel industries. The global  magnesium carbonate market  is anticipated to expand at a steady  4.7% CAGR  over the forecast period, finds Future Market Insights (FMI) in a recent market analysis. As per FMI, geographically, the market is anticipated to be dominated by South Asia Pacific, which is expected to continue in the forthcoming years. Backed by the aforementioned factors, the global magnesium carbonate market is projected to top  US$ 443.5Mn  by 2032. In recent years, companies are focusing on developing new materials with high purity at competitive prices. Magnesium carbonate, due to its small size, high porosity, and non-toxicity, is adopted in the pharmaceutical industry. Pharmaceutical grade magnesium carbonate is preferred for the treatment of hyperchlorhydria, stomach aches and duodenal ulcers. It is also used in the sur
Read more