Market Trends – Rising competitiveness amongst enterprises in various sectors
— Emergen Research
VANCOUVER, BC, CANADA, June 20, 2023/EINPresswire.com/ — The global business intelligence and analytics platforms market size is expected to reach USD 84.25 Billion at a revenue CAGR of 11.9% in 2028, according to latest analysis by Emergen Research. Steady market revenue growth of business intelligence and analytics platforms can be attributed to rising demand for rapid and precise analysis of business data. Business intelligence and analytics platforms allow businesses to use customized reports or templates to monitor Key Performance Indicators (KPIs) through several data sources, such as financial, sales & marketing, and operations data.
Business Intelligence (BI) reports are prepared in real time to aid businesses to take accurate and fast data-backed decisions. These platforms generally deliver easy to comprehend visualizations, including graphs, charts, and tabular data presentations. Moreover, certain business intelligence and analytics platforms generate interactive reports to enable users to switch between different variables to derive a better understanding of key business metrics.
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The report also profiles established and emerging players of the market, covering the business overview, product portfolio, strategic alliances, and business expansion strategies.
Major companies in the market report include 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.
Highlights from the Report
In January 2021, Information Builders, Inc. was acquired by Tibco Software Inc., a leading market player. The acquisition was intended to add data management and analytics competences of Information Builders to the Connected Intelligence platform of Tibco software.
By platform type, advanced & predictive analytics platform segment contributed to a significant revenue share in 2020. Predictive analytics is widely deployed in finance and insurance industry to generate reliable and precise visualization of customer data to aid with effective business decision making.
For instance, advanced analytics is used to determine credit scores to ascertain creditworthiness of consumer and in turn, decreased risks to business. Moreover, analyzing customer buying pattern and responses is essential in devising marketing strategies, and predictive analytics can be used to analyze data to recognize new market opportunities.
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The report studies the historical data of the Business Intelligence and Analytics Platforms Market and offers valuable information about the key segments and sub-segments, revenue generation, demand and supply scenario, trends, and other vital aspects.
Emergen Research has segmented the global business intelligence and analytics platforms market on the basis of platform type, organization size, mode of deployment, industry vertical, and region:
Platform Type Outlook (Revenue, USD Billion; 2018–2028)
Business Intelligence Platforms
Advanced & Predictive Analytics Platforms
Corporate Performance Management (CPM) Suite
Organization Size Outlook (Revenue, USD Billion; 2018–2028)
Small & Medium Sized Enterprises
Mode of Deployment Outlook (Revenue, USD Billion; 2018–2028)
Industry Vertical Outlook (Revenue, USD Billion; 2018–2028)
IT & Telecom
Media & Entertainment
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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The report addresses the following key points:
The report provides a forecast of market drivers, restraints, and future opportunities for the Business Intelligence and Analytics Platforms market
The report further analyses the changing market dynamics
Regional analysis and segmentation of the Business Intelligence and Analytics Platforms market with analysis of the regions and segments expected to dominate the market growth
Extensive competitive landscape mapping with profiles of the key competitors
In-depth analysis of business strategies and collaborations such as mergers and acquisitions adopted by the key companies
Revenue forecast, country scope, application insights, and product insights
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