Market Growth and Concentration of Business Intelligence Software – The rise of data-driven decision making has seen a corresponding increase in demand for business intelligence software. Market growth for this type of software has been dramatic, and the concentration of leading suppliers is growing as well.
It allows decision makers access to timely and relevant insights, enabling them to make informed decisions quickly and efficiently. This means increased efficiency and improved profitability.
The market for BI software has seen explosive growth in recent years. According to the Information Age Business Intelligence Trends Survey, 93% of business intelligence teams expect the market to continue to expand.
Despite impressive market growth, the business intelligence software market is becoming increasingly concentrated. The four leading suppliers of BI software are Microsoft, Tableau, Qlik, and SAP. These four firms account for more than half of the market share, and this concentration is likely to increase. This is especially true as the larger, more established firms acquire smaller, agile players.
Market Growth and Concentration of Business Intelligence Software
The rising concentration of business intelligence software means that organizations must be more strategic in selecting their provider. The emergence of new and emerging technologies such as machine learning and artificial intelligence means that BI solutions must be able to keep up with these technologies or risk falling behind in their competitive landscape.
The growth of the business intelligence software market has been impressive, and the concentration of leading suppliers is likely to rise as well. This means that organizations must be more selective and strategic when it comes to selecting their BI provider.
The business intelligence and analytics software industry has seen significant market growth over the last decade, with the sector set to be worth over $24 billion by 2021. At the same time, the industry has become increasingly consolidated, with many large software vendors buying out smaller companies to add their suite of products to their own.
The advantages of business intelligence software are clear; it allows organizations to collect, store and analyze data in order to make informed decisions. Business intelligence tools allow users to harness the power of big data to gain valuable insights.
As business intelligence software becomes more advanced, so the industry becomes increasingly consolidated. Large software vendors have the financial resources to acquire smaller companies, allowing them to add their products to their suite. This has resulted in an industry where smaller vendors have an increasingly difficult time competing with the market leaders. This consolidation has led to increased concentration in the market and higher barriers to entry for smaller companies, resulting in less competition and fewer opportunities for innovation.
Market Growth and Consolidation in the Business Intelligence and Analytics Software Industry
At the same time, the business intelligence software industry offers significant growth opportunities for those companies willing to invest in the technology.
Business intelligence and analytics software provide organizations with invaluable insights into their operations. The sector is experiencing significant market growth and consolidation, both of which provide great opportunities for those companies willing to invest in the technology. Going forward, the industry looks set to remain at the forefront of the software industry, with exciting opportunities for those who invest in the technology.
In this article, we will discuss business intelligence and analytics software market. As a businessman, you have to understand it well.
By discussing this research report, we will know about the rising demand and market consolidation.
The Report Scope of Business Intelligence and Analytics Software Market
This report of business intelligence and analytics market covers analysis on regional & country level market dynamics.
It also covers competitive overview that provides company market shares along with its profile for major revenue that contributes companies.
In addition, it includes detailed competitive outlook that covers market shares & profiles of key participants in the business intelligence & analytics software market share.
The major players in the business intelligence and analytics software market include Alteryx, Tibco Software, Tableau Software Inc., Salesforce, SAS Institute Inc., SAP, GoodData Co, Microsoft Co, IB, Oracle Co, etc.
Finally, industry participants follow value chain integration with business operations in various stages of the value chain.
There are a few segments of the business intelligence & analytics software market. They include:
1. By Platform
It includes Business Intelligence Platform, Corporate Performance Management Suite, Advanced & Predictive Analytics, Analytics Application, and Content Analytics.
2. By Deployment
It includes Cloud as well as On-premises.
3. By End-user Industry
For example, it includes retail, telecom & IT, manufacturing, media & entertainment, government, healthcare, education, energy & power, BSFI, etc.
4. By Organization Size
Business analytics software market size includes small and medium business as well as large-scale enterprises.
5. By Service
In this case, it includes professional services and managed service.
6. By Region
Then, it includes Asia-Pacific, Europe, North America, and the rest of the world.
7. By Company
Lastly, it includes IBM, Oracle Co, GoodData Co, Microsoft Co, SAS Institute Inc., SAP, Tableau Software Inc., Salesforce, Alteryx, and Tibco Software.
So, that’s all about business intelligence and analytics software market. Hopefully, this will be a useful reference for you all.