FELTON, Calif., Sept. 15, 2020
FELTON, Calif., Sept. 15, 2020 /PRNewswire/ -- The global business intelligence (BI) software market size is anticipated to value USD 48.5 billion until 2025. It is also expected to register a CAGR of 10.1% over the forecasted years, 2019 to 2025. The rising need for analyzing data and making strategic decisions is expected to drive the demand for the market in the upcoming years.
The finance functional segment witnessed the highest share across the global market due to the surging usage of these tools for processing, analyzing and collecting financial data. While the segment of executive management is anticipated to register substantial growth in the upcoming years owing to its surging adoption by the majority of enterprises for making strategic business decisions.
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The query, reporting & search tools dominated the global market in 2018 due to surging need for raw data transportation and in-depth analysis. On the other hand, the dashboards & scoreboards segment is anticipated to witness the highest growth on account of their surging usage for analyzing data and allowing end-users and corporate staff with the ongoing business decisions.
In 2018, the BFSI end-use segment dominated the global market due to its rising usage of such software for providing enhanced access to the client database, boosted client experience, and secured transactions. While the segment of manufacturing is anticipated to witness substantial growth over the forecasted period on account of an increasing need for the removal of conventional approaches and replacing them with data-centric structures.
The BI software market includes key players such as Microsoft Corporation, SAP SE, Google, Inc., IBM Corporation, Tableau Software, and Cloud9 Analytics. They are constantly engaged in product development, launching updates and innovation to gain a competitive advantage over other players.
Further key findings from the report suggest:
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Million Insights has segmented the global business intelligence software market on the basis of technology, function, tool, deployment, enterprise size, end use, and region:
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