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Intelligence covers market and price outlook, SWOT analysis, demand & supply drivers, engagement models and Procurement best practices
Intelligence on category covers the following aspects market outlook, supply market, SWOT analysis, Cost components & Price outlook, Demand and supply drivers, Engagement Models and Procurement Best Practices
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Supplier assessment covers the following parameters Financial Risk, Ethical, Labor, Environmental Compliance, IT Security.
Supplier assessment is powered by world’s leading data partners including D&B, CreditSafe, Dow Jones, Refinitiv, Orpheus
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Identify right fit suppliers based on your selection criteria including revenue, capabilities, certification, geography
Select suppliers based on industry, country, classification from a database of 4.2 mn suppliers. Get detailed supplier profiles with supplier capabilities, revenue, certifications, risk ratings
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Benchmark your category performance against peers and the market
Measure category performance on 15 key parameters across cost, risk and strategy KPIs
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Source Macro Data and Market Indices information from leading data sources across these key areas - Labor Rates, Currency, Energy, Country Risk, Trade Flow/Transportation, Port Data, Tariff, Weather and Epidemics
Meet Abi
Discover Market Info
Manage Risk
Find Suppliers
Assess Category Performance
Source Market Indices
Abi will answer all Business Intelligence related
procurement queries with relevant data points
Abi - AI powered digital procurement assistant
Get up-to-date market and supplier info on Business Intelligence to help you build
Intelligence covers market and price outlook, SWOT analysis, demand & supply drivers, engagement models and Procurement best practices
Intelligence on category covers the following aspects market outlook, supply market, SWOT analysis, Cost components & Price outlook, Demand and supply drivers, Engagement Models and Procurement Best Practices
Assess Supplier Risk based on key risk and compliance parameters
Supplier assessment covers the following parameters Financial Risk, Ethical, Labor, Environmental Compliance, IT Security.
Supplier assessment is powered by world’s leading data partners including D&B, CreditSafe, Dow Jones, Refinitiv, Orpheus
Identify right fit suppliers based on your selection criteria including revenue, capabilities, certification, geography
Select suppliers based on industry, country, classification from a database of 4.2 mn suppliers. Get detailed supplier profiles with supplier capabilities, revenue, certifications, risk ratings
Benchmark your category performance against peers and the market
Measure category performance on 15 key parameters across cost, risk and strategy KPIs
Get information on key factors affecting your supply
Source Macro Data and Market Indices information from leading data sources across these key areas - Labor Rates, Currency, Energy, Country Risk, Trade Flow/Transportation, Port Data, Tariff, Weather and Epidemics
9.1 Percent
$23.21 billion
$6.48 Bn
$9.2 Bn
The global business intelligence (BI) market was projected to value around $25 billion in 2020, following a CAGR of 7.6%. While North America and Europe have attained high market maturity, Asia Pacific (APAC) is anticipated to experience robust market growth. Key drivers include Big data analysis, demand for data-as-a-service, and a desire for personalized and self-service BI capabilities. The BI market is expanding in countries including, the US, UK, and Japan, given the advent of mobile, cloud, and social BI solutions. Having said that, the penetration of BI solutions is relatively moderate in regions such as Latin America (LATAM), APAC, and the Middle East and Africa (MEA).
The platform for business intelligence and market research is undergoing a significant technological shift that includes data analysis for free-form text exploration, content authoring, and greater adoption of cloud technologies. The report discusses the global industry trends in business intelligence, followed by relevant drivers and constraints. It provides the market outlook of business intelligence in regions such as North America, Europe, MEA, APAC, and LATAM. Further, the report performs Porter's five forces analysis on supplier and buyer power, barriers to new entrants, the intensity of rivalry, and a threat of substitutes.
Category Intelligence on Business Intelligence covers the following
The global BI market was valued at $23.21 billion in 2019. The market is impacted by the COVID-19 pandemic and is anticipated to experience stagnation.
Consequently, the market CAGR has been adjusted from 9.1% to 8% until 2023.
While Europe and North America will remain in the vanguard, APAC is expected to offer lucrative opportunities.
Factors driving the business intelligence industry include big data analytics, rising demand for data-as-a-service, as well as for personalized and self-service BI capabilities.
However, implementation costs and potential issues associated with data breaches are hitting the revenue of market players.
Integration of various business intelligence applications are further setting a challenge.
The regional markets are categorized based on maturity levels along with engagement strategy information. The strategies followed in each market level will differ greatly as can be seen in the full report.
Impact Area: IT Service Providers and Buyers
Talent crunch in specific skills for application development and maintenance directly impact external consultants' billing rates
Technology startups in the UK employ a significant workforce from (European Union) EU countries due to insufficient math and science graduates in the country to fill positions in application development and engineering
Impact Area: SaaS Service Providers
The UK remains one of the key destinations for data centers serving EU clients. Despite the exit from the EU, UK companies need to abide by the EU General Data Protection Regulations (GDPR) which was set to take effect from May 2018.
Apart from local regulations, UK companies managing EU data need to adhere to stricter GDPR norms which are expected to add to compliance costs.
Business intelligence is an approach that enables access and analysis of information based on data, to improve and optimize business decisions and performance using a fact-based support system. The major components of BI solutions include:
This section of the report also provides key insights about the types of BI and market share as well as capabilities and business adoption rates.
Requirement Analysis
Infrastructure Evaluation
Design
Development
Testing and Deployment
Properly assessing the market at regional levels is hugely important in order to understand the granular aspects of competitive space. The business intelligence market size, regional market saturation, their levels of BI implementation, as well as maturity of various stakeholders are detailed in the report, along with key suppliers for each region.
There is a significant technology shift in BI and analytics platforms as observed below:
Data analysis has extended to free-form text exploration rather than being restricted to structured ad-hoc reporting and analysis based on a predefined model
Content authoring is more business-user driven
The emergence of the cloud has triggered greater adoption among business managers as opposed to IT
Dashboards, data visualization, analytics databases/platforms, and BI/OLAP tools are major functionalities in BI solutions, with maximum utilization in businesses. Actionable insights are delivered as intuitive dashboards through a seamless sharing and collaboration environment
Self-service BI capabilities driven by global search and guided navigation have facilitated faster turnaround times for line of business managers
Emerging trends such as the Internet of Things (IoT) and Bring your own device (BYOD) have resulted in exponential consumption of data volume
The report reveals that by 2020, the number of connected devices will reach 45 billion with a 42% rise in data volume every year, offering a lucrative business opportunity for the BI solution providers
The business intelligence and analytics market size as well as the growth potential are illustrated region-wise.
Drivers
About 2.4 quintillion bytes of data are generated every day, and this number was expected to reach 40 Zb (Zettabyte) by 2020. This exponential growth of data generation (volume, veracity, velocity) demands mastering analytics to derive meaningful insights.
Predictive/Prescriptive Analytics Tools
Predictive and prescriptive analytics tools have played a huge role in stepping up BI analysis. Forecasting, graph analysis, and complex event processing techniques are used to improve the decision-making process
The COVID-19 pandemic has triggered the demand for advanced data visualization and dashboards solutions to monitor the data of global patient data and make decisions as per the report.
Data Storytelling
Businesses have adopted data storytelling capabilities to improve data interpretation and business decision-making from key data insights.
Visual Analytics
NLP to boost Self-service
Constraints
Digital Ethics
Data security breaches and issues result in significant losses for enterprises. Cloud BI tools and integration with third-party applications with a lack of a secure framework increase the risks of potential data breaches.
Data Governance
The emergence of the cloud has paved the way for increasing cases of fragmented analytics deployments (smaller scale) driven by LOB managers compared to centralized IT. This can create challenges in maintaining data governance, as such, suppliers need to focus on enhancing data audit features.
High implementation cost
Initial costs of purchasing a suitable BI solution, implementing it, and maintaining and educating employees regarding its usage are significantly high, creating concerns among small and medium businesses (SMB). Moreover, restricted resources complicate the recruitment of skilled experts including, consulting analysts, data science experts, and IT infrastructure specialists. Cost-prohibitive infrastructure investments required to employ BI software further are compounding the situation, affecting the business intelligence industry.
Data Integration
End-to-end integration helps experts access all data in an integrated framework. That said, integration is a huge challenge faced by BI providers. As demand for cloud-driven BI solutions is soaring, given their umpteen advantages, cloud deployments are posing security and integration issues with on-premises data.
The business intelligence outlook for each of the regional markets is analyzed in detail. The regions are North America, Europe, MEA, APAC and LATAM.
The market information and market maturity details of each region give valuable insights into the regional nuances of BI. It also lists the global suppliers active in each region as well as the local suppliers. The maturity levels of the service providers are illustrated alongside the maturity levels of the buyers. The country-wise variations if any within each region are also described as neighboring countries sometimes have contrasting market maturity levels.
This report analyzes the BI market to give a crisp overview of the supplier vs buyer as well as the challenges that the BI industry faces. The well-rounded analysis of the global as well as regional BI market helps one get an overall grasp of the overview as well as the finer details of the BI market. The analysis is supported by facts and figures that are presented in an attractive and easy-to-understand format.
The supplier business intelligence trends vary based on various perspectives. This section of the report describes the supplier market outlook from different perspectives including global vs. regional and local vs. vertical.
The key players in BI and their market share are listed here. The section also highlights key takeaways about the leading players and their offerings.
Global Supplier List and Major Service Capability Mapping And Assessment
The BI product suites of major players are mapped and analyzed in this section. It gives a comparative overview of the products at a glance. It also assesses the service capability of the various players.
The leading global suppliers have been studied and the details of their company, leadership, geographic presence, achievements, certifications, service capabilities, cash flow and other important details have been provided. Further, each supplier has been thoroughly analyzed and presented in a SWOT report.
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