The Latest Business Intelligence Software Industry Statistics Explained
70% of Business Intelligence (BI) applications are used in the manufacturing and services sector.
The statistic ‘70% of Business Intelligence (BI) applications are used in the manufacturing and services sector’ signifies that a significant majority of BI software and tools are implemented and utilized within the manufacturing and services industries. This indicates a strong reliance on data-driven decision-making and analytics within these sectors to enhance operational efficiency, optimize business processes, and improve overall performance. The high adoption of BI applications in manufacturing and services suggests a strategic emphasis on leveraging data insights to gain a competitive edge, drive growth, and meet specific industry demands, showcasing the importance of analytics in driving business success within these industries.
By 2025, the global Business Intelligence market is expected to reach $33.3 billion.
The statistic indicates that the global Business Intelligence market is projected to grow significantly, reaching a value of $33.3 billion by the year 2025. This growth reflects the increasing adoption of Business Intelligence tools and technologies by organizations worldwide to analyze and leverage their data for strategic decision-making. The substantial market size forecast suggests a rising demand for Business Intelligence solutions across various industries as companies seek to gain insights, improve operations, and stay competitive in the rapidly evolving business landscape. The expected expansion of the market by 2025 highlights the pervasive importance of data-driven insights in driving business success and innovation.
Over 50% of employees now need data to be able to do their jobs.
The statistic that over 50% of employees now require data to perform their job duties signifies the increasing reliance on data-driven decision-making across various industries. This trend reflects the growing importance of leveraging data and analytics to drive business operations, improve efficiency, and enhance productivity. As the volume and complexity of data continue to expand rapidly, organizations are recognizing the value of utilizing data to inform strategic decision-making and drive innovation. This statistic highlights the shifting landscape of work towards being more data-focused, where employees must be equipped with the necessary skills and tools to effectively utilize data in their daily tasks to stay competitive in the modern business environment.
The CAGR of the BI software industry is expected to reach 10.1% from 2020 to 2025.
The Compound Annual Growth Rate (CAGR) of the Business Intelligence (BI) software industry is projected to be 10.1% between 2020 and 2025. This statistic indicates the average annual growth rate that the BI software industry is expected to experience over this five-year period. A CAGR of 10.1% suggests a healthy and robust growth trajectory for the industry, driven by factors such as increasing adoption of data-driven decision-making processes by businesses, advancements in technology and analytics capabilities, and the growing importance of extracting insights from large volumes of data. This growth rate signifies potential opportunities for companies operating in the BI software sector and highlights the industry’s potential for expansion and innovation in the coming years.
Dashboards and visualizations are the top BI software features for both small and medium-sized businesses at 89%.
The statistic indicates that Dashboards and visualizations are the most valued BI software features among small and medium-sized businesses, with a reported preference rate of 89%. This insight suggests that businesses in this size category highly prioritize the capabilities of presenting data in a visually appealing and easily digestible format. Dashboards allow users to quickly assess key performance indicators and metrics, making it easier for decision-makers to identify trends, patterns, and anomalies within the data. Visualizations such as charts and graphs play a crucial role in enhancing data comprehension and facilitating data-driven decision-making processes. The high percentage of businesses prioritizing these features underscores the importance of intuitive and efficient data visualization tools in aiding business intelligence efforts for small and medium-sized enterprises.
By 2026, the Business Intelligence market in Asia-Pacific is expected to reach $4.99 billion.
This statistic indicates that the Business Intelligence market in the Asia-Pacific region is projected to experience significant growth over the next few years, with an estimated value of $4.99 billion by 2026. This suggests a strong demand for data-driven insights and analytics tools among businesses in the Asia-Pacific region, reflecting a trend towards harnessing and leveraging data for strategic decision-making. The increasing adoption of Business Intelligence technology in this region is likely driven by factors such as the digital transformation of businesses, evolving consumer preferences, and the need for organizations to stay competitive in a rapidly changing market landscape. This statistic highlights the growing importance of Business Intelligence solutions in helping businesses gain valuable insights and drive better decision-making processes to achieve their strategic goals.
Around 67% of companies currently utilizing business intelligence software are leveraging it for reporting functionality.
The statistic suggests that a significant majority, approximately 67%, of companies that are using business intelligence software are primarily using it for reporting purposes. This indicates that these companies are utilizing the software to analyze and present data in a structured format to inform decision-making processes. Reporting functionality is a fundamental aspect of business intelligence tools, allowing organizations to track key performance indicators, visualize trends, and communicate insights effectively. The high percentage highlights the importance that companies place on monitoring and communicating data-driven information within their operations for strategic decision-making and performance monitoring purposes.
The healthcare industry’s usage of business intelligence software is expected to increase with a CAGR of 15.5% from 2021-2028.
This statistic indicates the expected compound annual growth rate (CAGR) of healthcare organizations adopting business intelligence software from the year 2021 to 2028. A CAGR of 15.5% suggests a consistent and steady growth rate over this period. The use of business intelligence software in the healthcare industry allows organizations to analyze and leverage their data for informed decision-making, cost optimization, and improving patient care outcomes. The anticipated increase in usage signals a growing recognition within the healthcare sector of the benefits and value that such software can bring in terms of efficiency, effectiveness, and overall performance.
In 2019, the business user segment held the highest market share of 58.7% in business intelligence software applications.
The statistic indicates that in the year 2019, the business user segment had the largest market share of 58.7% among all users of business intelligence software applications. This suggests that a majority of individuals utilizing business intelligence software fell into the business user category, indicating a strong preference or adoption of such tools within the business community. This statistic highlights the importance of business users in the adoption and use of business intelligence software, showcasing their significant role in leveraging data and analytics for decision-making and strategic planning within organizations.
North America accounted for the highest market share of BI software in 2019, at around 38.2%.
The statistic ‘North America accounted for the highest market share of BI software in 2019, at around 38.2%’ indicates that North America had the largest proportional presence in the Business Intelligence (BI) software market in that year compared to other regions. This suggests that a significant portion of BI software sales and usage occurred in North America, most likely due to factors such as the presence of large corporations, advanced technological infrastructure, and a strong emphasis on data-driven decision-making in the region. This statistic highlights the importance of North America as a key market for BI software providers and underscores the region’s leadership in leveraging data analytics for business insights and strategic decision-making.
48% of Small-Medium Businesses already use some form of BI software, but 58% still do not use any form of BI or analytics.
This statistic indicates that a significant portion (48%) of Small-Medium Businesses (SMBs) have adopted Business Intelligence (BI) software to analyze and interpret their data, reflecting a growing awareness of the importance of data-driven decision-making. However, it also highlights that a majority (58%) of SMBs have yet to implement any form of BI or analytics tools, suggesting there is still room for improvement in terms of leveraging data to drive business insights and strategies within this segment. The disparity between the adoption rates suggests a potential opportunity for SMBs to further develop their data capabilities to gain a competitive edge and enhance their overall decision-making processes.
Microsoft dominates as the market leader for BI tools with a 23.11% market share.
The statistic ‘Microsoft dominates as the market leader for BI tools with a 23.11% market share’ indicates that Microsoft holds a significant portion of the market for Business Intelligence (BI) tools compared to its competitors. With a market share of 23.11%, Microsoft has established itself as the top player in the BI industry, suggesting that their products and services are widely adopted by businesses and organizations for data analysis and decision-making purposes. This statistic highlights Microsoft’s strong presence in the BI market, showcasing their competitive advantage and influence in providing tools and solutions for businesses to effectively manage and analyze their data.
Research forecasts the cloud-based BI software market to reach $26.9 billion by 2025.
This statistic indicates that the market for cloud-based business intelligence (BI) software is projected to significantly grow and reach a value of $26.9 billion by the year 2025 according to research forecasts. This forecast suggests a strong and increasing demand for cloud-based BI solutions among businesses in the coming years, likely driven by factors such as the need for real-time data analysis, scalability, and cost-effectiveness offered by cloud-based platforms. The anticipated growth in this market signifies the increasing adoption and importance of cloud-based BI software for organizations looking to make data-driven decisions and stay competitive in the rapidly evolving digital landscape.
Private organizations make up the largest end-user segment of the BI market, accounting for more than 60%.
This statistic indicates that private organizations constitute the majority share of the Business Intelligence (BI) market, comprising over 60% of the total end-user segment. This suggests that private companies, spanning various industries such as finance, healthcare, retail, and more, heavily rely on BI technologies and solutions to make informed business decisions and gain competitive advantages. The high adoption rate among private organizations could be attributed to the need for data-driven insights, performance monitoring, and strategic planning to optimize operations, target customers effectively, and drive overall business growth. As a result, BI providers and vendors may tailor their products and services to cater to the unique needs and preferences of private enterprises in order to maintain their market dominance and satisfy their evolving demands.
30% of the companies use BI to make data-driven decisions, 22% for reporting, and 9% use BI for predictive analytics purposes.
This statistic shows the distribution of business intelligence (BI) usage among companies surveyed, indicating that 30% of companies utilize BI primarily for making data-driven decisions, 22% for reporting purposes, and 9% for predictive analytics. This suggests that a significant portion of companies recognize the importance of leveraging BI tools to inform strategic decision-making based on data insights, with a slightly lower percentage focused on using BI for monitoring and presenting historical data trends for reporting purposes. Additionally, a smaller percentage of companies are utilizing BI for predictive analytics, indicating a growing trend towards using data to forecast future outcomes and trends within their organizations.
In 2021, it is expected that more than 50% of Global 2000 companies will make cloud BI and analytics adoption a critical part of their digital strategies.
The statistic suggests that in 2021, a majority of the top 2000 global companies are projected to prioritize the adoption of cloud Business Intelligence (BI) and analytics as a crucial component of their digital strategies. This indicates a growing trend towards leveraging cloud-based technologies to enhance data analysis and decision-making processes within organizations. The shift towards cloud BI and analytics signifies a recognition of the efficiency, scalability, and accessibility benefits that cloud computing offers, enabling companies to extract valuable insights from their data more effectively and efficiently, ultimately driving innovation and competitive advantage in today’s rapidly evolving digital landscape.
Mobile BI market will expand at a CAGR of 21.6% during 2019-2027.
This statistic states that the Mobile Business Intelligence (BI) market is projected to experience a Compound Annual Growth Rate (CAGR) of 21.6% between the years 2019 and 2027. This growth rate indicates the annualized rate at which the market is expected to increase over the specified period. A CAGR of 21.6% suggests a rapid expansion in the adoption and utilization of mobile BI solutions, reflecting the increasing demand for accessing business insights and data analytics on mobile devices. Factors driving this growth could include advancements in mobile technology, the need for real-time data-driven decision-making processes, and the rising trend of remote work and mobile productivity.
Conclusion
The statistics presented clearly demonstrate the growing significance of Business Intelligence software in today’s business landscape. As technology continues to advance and competition intensifies, companies must harness the power of data analytics to make informed decisions and drive growth. By leveraging BI software effectively, organizations can gain valuable insights, improve operational efficiency, and stay ahead of the curve in the dynamic business environment. The trends indicate a promising future for the BI software industry, with increasing adoption rates and innovations on the horizon. It is evident that businesses that invest in Business Intelligence solutions are better positioned to thrive and succeed in the data-driven economy of tomorrow.
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