According to a new report by UnivDatos, the business intelligence (BI) and analytics market is expected to grow at a compound annual growth rate (CAGR) of approximately 9% between 2022 and 2028. The analysis is segmented by component (solutions and services), industry vertical (information and communication technology, banking and financial services, manufacturing, retail and e-commerce, and others), and region/country.

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Business intelligence (BI) and analytics is projected to exhibit a compound annual growth rate (CAGR) of approximately 9%, driven by increasing adoption of cloud computing, big data analytics, and business intelligence tools. | Universal Data Market Insights

The Business Intelligence (BI) & Analytics market report has been compiled and compiled with information data on various trends such as market drivers, restraints, and opportunities. This innovative report utilizes multiple analytical techniques to get a closer perspective on the BI & Analytics market. The BI & Analytics market report offers a detailed analysis of the latest industry developments and trending factors that are influencing the market growth. Furthermore, this statistical market research repository examines and evaluates the BI & Analytics market at global and regional levels.

Market Overview

One of the key benefits of BI (Business Intelligence) and Analytics is speed and agility, allowing organizations to quickly process multiple data streams through embedded dashboards. The resulting information can be used to identify trends and opportunities and monitor performance in real time. BI and Analytics provide these detailed insights and forecasts to stakeholders and users, enabling more informed business decisions. BI and Analytics also bring transparency and visibility across isolated networks, both within and outside the organization. This means data is not limited to one department or location. And all departments and offices can access the same information at the same time. Furthermore, the widespread adoption of digital technologies is one of the most notable factors contributing to the growth of the market. For example, according to the World Economic Forum, digital transformation will add US$100 trillion to the global economy by 2025. Furthermore, by 2025, platform-driven interactions are expected to provide approximately two-thirds of the US$100 trillion value from digitization. Detailed report description, research methodology, table of contents, infographics, etc. can be found at the links below. [Links omitted]

Impact of COVID-19

Although the COVID-19 pandemic has had the worst impact on several industries, it has also had a positive impact on the development of information technology. The trend of remote access and digital marketing has recently boosted the adoption of BI and analytics across various end-user verticals.

The Global BI and Analytics Market report has been thoroughly studied with several aspects that will help the stakeholders to make more careful decisions.

Based on component, the market is bifurcated into solutions and services. The solutions segment is further classified into Query & Reporting, Visualization, Multidimensional Analysis, Data Mining & Predictive Analytics, and Others categories. Among solutions and services, the solutions segment accounted for the majority of the market in 2021, owing to the benefits associated with BI and analytics solutions such as identifying trends and patterns, improving operational efficiencies, driving revenue and performance, and making informed decisions.

Based on industry, the market has been segmented into Information and Communication Technology, Banking & Financial Services, Manufacturing, Retail & E-commerce, and Others. The Retail & E-commerce industry is expected to grow at a significant CAGR during the forecast period as BI & Analytics enable e-commerce companies to make accurate decisions, streamline business operations, improve business processes, provide better customer experience, etc.

Geographical segmentation of the BI & Analytics market includes:

• North America (USA, Canada, and Rest of North America)

• Europe (Germany, UK, France, Italy, Spain, and other European regions)

• Asia Pacific (China, India, Japan, and the rest of Asia Pacific)

• Other regions

The demand for BI & Analytics is increasing in the North American region primarily due to several reasons. Rapid adoption of digital technologies across various industries generating vast amounts of data is one of the main drivers. BI & Analytics tools provide businesses with the ability to make sense of this data, gain insights into their operations and make data-driven decisions. Moreover, as the market rapidly changes, businesses need to stay competitive, and BI & Analytics helps them quickly identify trends and opportunities. Moreover, the increasing importance placed on data privacy and security is driving businesses towards adopting more sophisticated BI & Analytics tools to ensure data safety.

The major players targeting the market include:

· Adobe

· Google

· IBM

· Oracle

· SAS Institute Inc.

· Salesforce, Inc.

· Micro Focus

· Cloud Software Group, Inc.

· SAP SE

· Qlik Tech International AB

Competitive Environment

The competitive landscape of well-known global companies has been explained in detail by analyzing some of the major leading players operating across the globe. A dedicated team of research analysts throws light on various features such as global market competition, market share, latest industry developments, innovative product introductions, alliances, mergers, or acquisitions by key companies. Key players have been analyzed using research methodology to gain insights into the global competition.

Click here to view the Report Description & TOC https://univdatos.com/reports/bi-and-analytics-market

Key questions addressed through this analytical market research report include:

• What are the latest trends, emerging patterns, and technological advancements in the BI and analytics market?

•Which factors will influence the BI & Analytics market during the forecast period?

• What are the global challenges, threats, and risks in the BI and Analytics market?

• What factors are driving and constraining the BI and analytics market?

• Which regions in the world have the highest demand for BI and analytics market?

• What will be the size of the global market in the coming years?

• What are the key market capture strategies and policies adopted by global companies?

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