Global BI Software Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends

9 Sep, 2021

The business intelligence software (BI software) market consists of sales of business intelligence software. This software enables users to project information, visualize data, derive insights, improve business operations and make strategic business decisions. The components of business intelligence are source data, data warehouse, and online analytical processing (OLAP), visualizations, dashboards, and extract, transform, load (ETL) processes.

Global BI Software Market Size And Drivers:

The global BI software market is expected to grow from $34.86 billion in 2020 to $42.02 billion in 2021 at a compound annual growth rate (CAGR) of 20.5%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $107.98 billion in 2025 at a CAGR of 26.6%. An increase in data-driven projects aids BI software market growth due to a substantial rise in the demand for real time analytics in the historic period.

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Trends In The Global BI Software Market

In October 2020, Tibco Software acquired Information Builders Inc., for an undisclosed amount. With this acquisition the Tibco’s aims is to augment its connected intelligence platform to address customers end-to-end data management and business analytics needs. Information Builders Inc., founded in 1975 is a leading player in business analytics headquartered in New York.

Global BI Software Market Segments:
The global BI software market is further segmented –
By Deployment: On-Premise, On-Cloud
By Application: BFSI, Telecomm, IT, Retail and Consumer Goods, Healthcare and Life Sciences, Manufacturing
By Type: Unstructured Data, Semi Structured Data, Structured Data
By Geography: The global BI software market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

Read More On The Report For The Global BI Software Market At:

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BI Software Market Report Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides BI software market overviews, analyzes and forecasts market size and growth for the global BI software market, BI software market share, BI software market players, BI software market segments and geographies, BI software market’s leading competitors’ revenues, profiles and market shares. The BI software market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.