Business Intelligence and Analytics Platforms Market Size to Reach USD 84.25 Billion in 2028

VANCOUVER, BC, March 28, 2022 /PRNewswire/ — The global business intelligence and analytics platform market size is expected to reach $84.25 billion at a revenue CAGR of 11.9% in 2028, according to the latest analysis from Emergen Research. The steady growth in business intelligence and analytics platform market revenue can be attributed to the increasing demand from enterprises to improve operational efficiency. Business Intelligence and Analytics platforms combine multiple data sources allowing companies to reduce the time spent tracking information and focus on delivering accurate reports faster. Easy access to up-to-date and accurate business information and market dynamics, helps set short and long term organizational goals and assess its impact on revenue generation. Business intelligence and analytics platforms help provide 360-degree assessment across all dimensions of the business to help businesses recognize problems and improve operations and sales, thereby increasing income.

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The growing demand for business intelligence and analytics platforms is due to their immense importance in helping businesses gain competitive advantage. These platforms help with budgeting, forecasting and planning, as well as tracking the sales and marketing performance of competitors and providing insights into product differentiation. However, lack of skilled professionals and constraints associated with budget allocation for business intelligence tools in small and medium enterprises may hamper the market revenue growth during the forecast period.

Some highlights of the report

  • In May 2021, Kaleyra, Inc. announced that it has entered into a partnership agreement with Trellance. Under the agreement, Kaleyra’s innovation lab, K–lab, will create communications solutions for credit unions backed by data from Trellance’s M360 platform.
  • By platform type, revenue from the Corporate Performance Management (CPM) suite segment is expected to grow at a rapid rate during the forecast period. A business performance management solution aligns business goals with operations to improve budget control and cash flow. The enterprise performance management suite reduces the time needed to gather information, consolidate financial data, and generate reports.
  • By vertical, healthcare segment revenue is expected to grow at a rapid pace over the forecast period. Business intelligence and analytics platforms help improve risk management in healthcare facilities. Predictive analytics helps prevent any potential health issues that a patient may face based on various measures, such as clinical and hereditary, by enabling healthcare professionals to perform appropriate precautionary procedures to mitigate the impact.
  • Market revenue in Asia Pacific is expected to register the fastest CAGR during the forecast period, owing to the increasing adoption of cloud computing business analytics solutions and the growth of e-commerce
  • Major companies in the market report are Microsoft Corporation, SAS Institute Inc., IBM Corporation, MicroStartegy Inc., Tableau Software LLC, Tibco Software Inc., Oracle Corporation, QlikTech International AB, SAP SE, and Hitachi Vantara Corporation.

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Emergen Research has segmented the Global Business Intelligence and Analytics Platforms Market based on platform type, organization size, deployment mode, industry vertical and region:

  • Platform Type Outlook (Revenue, USD Billion; 2018-2028)
    • Business intelligence platforms
    • Advanced and predictive analytics platforms
    • Enterprise Performance Management (CPM) Suite
    • Others
  • Organization Size Outlook (Revenue, USD Billion; 2018-2028)
    • Big business
    • Small and medium enterprises
  • Deployment Mode Outlook (Revenue, USD Billion; 2018-2028)
  • Industry Vertical Outlook (Revenue, USD Billion; 2018-2028)
    • BFSI
    • IT & Telecom
    • Retail
    • Health care
    • Government
    • Manufacturing
    • Energy
    • Media and Entertainment
    • Education
    • Others

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  • Regional Outlook (Revenue, USD Billion; 2018-2028)
    • North America
    • Europe
      • Germany
      • UK
      • France
      • Italy
      • Spain
      • Sweden
      • BENELUX
      • Rest of Europe
    • Asia Pacific
      • China
      • India
      • Japan
      • South Korea
      • Rest of APAC
    • Latin America
    • Middle East & Africa
      • Saudi Arabia
      • United Arab Emirates
      • South Africa
      • Israel
      • Rest of MEA

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About Emergen Research

Emergen Research is a market research and consulting firm that provides syndicated research reports, custom research reports, and consulting services. Our solutions are uniquely focused on your goal of locating, targeting and analyzing changes in consumer behavior across demographics, across industries, and helping customers make smarter business decisions. We offer market intelligence research ensuring relevant and factual research across multiple sectors including health, touchpoints, chemicals, types and energy. We are constantly updating our search offerings to ensure that our clients are aware of the latest trends existing in the market. Emergen Research has a strong base of experienced analysts from a variety of areas of expertise. Our industry experience and ability to develop a workable solution to any research problem gives our clients the ability to secure an edge over their respective competitors.

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SOURCE Emerging research

Lance B. Holton