Business Intelligence market is the category of technological solutions and services employed by an organization for the analysis of data created through business operations and analysis of information associated with structure of business. Business Intelligence market involves the usage of intelligence technologies which handle significant amount of data.
Business intelligence has pervaded the ICT sector as well as the global economy. AI has taken over conventional computing methods and has transformed various industries. This is exemplified by the use of CAPTCHA to distinguish between humans and robots on websites. With the use of algorithms and computer-based training, AI aims to transform systems into intelligent machines. This has been witnessed on chatbots and digital assistants. Machine learning can be effectively utilized to create systems which exhibit intelligent behavior and assist humans in performing repetitive tasks.
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Increase in usage of cloud computing systems is the key driving factors which are expected to boost the global Business Intelligence Market growth. Furthermore, rise in demand for analysis-based and data evident business decisions will have the positive impact on market growth. Moreover, increase in growth of advanced analytics and adoption of data-driven decision making will drive the market growth. Also, increase in usage of this technology by small and medium enterprises will drive the market growth in near future.
However, high installation and integration cost is the major challenging factor which is expected to hinder the global Business Intelligence Market growth. Also, variations in structure of industries and regions causing complications in regulations will affect the market growth.
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Global Business Intelligence Market is segmented into deployment type such as on-premise, and On-demand, by component such as Platform, Software, and Services. Further, market is segmented into end use industry such as Manufacturing, Retail & Consumer Goods, Media & Entertainment, Energy & Utilities, Government & Defense, and Others.
The assessment and forecast of the Business Intelligence Market have been studied on a global and regional basis. Based on the region, the Business Intelligence Market has been studied in the Asia Pacific (APAC), Europe, North America, Latin America (LATAM), and the Middle East and Africa (MEA).
Market Key Players
Various key players are discussed in this report such as Microsoft Corporation, International Business Machines Corporation, SAP SE, Oracle Corporation, Tableau Software, SAS Institute, Qlik Technologies, and MicroStrategy, Inc.
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