Business Intelligence Market Research Report - Segmented By Component (Software and Services); Deployment (On-premises and Cloud-based), By company size (Small and Medium-Scale Enterprises and Large Enterprises), Industry Verticals (BFSI, Healthcare and Life Sciences, IT and Telecommunications, Government and Public Sector, Manufacturing, Consumer Goods and Retail, Media & Entertainment, and Others), and Region- Size, Share, Growth Analysis | Forecast (2024 – 2030)

Business Intelligence Market Size (2024 – 2030)

The Global business intelligence (BI) market was valued at USD 27.95 billion and is projected to reach a market size of USD 46.37 billion by the end of 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 7.5%.

Business Intelligence (BI) Market

Market Overview:

Intelligence agencies employ diverse tools and methodologies encompassed within business intelligence (BI) to scrutinize corporate data. Historically, only a handful of enterprises could harness this technology due to restricted accessibility and high costs. Presently, with improved economic stability, a surge in cloud solutions adoption is witnessed, optimizing decision-making processes and furnishing invaluable insights for businesses. The forthcoming trajectory indicates substantial revenue generation within this market, attributed to a burgeoning focus on technological advancements in artificial intelligence and advanced analytics, projecting significant expansion in the forecast period.

Key Market Insights:

Business intelligence software market revenue is forecasted to hit USD 25.73 billion by 2023.

The anticipated average expenditure per employee in the business intelligence software market stands at $7.39 in 2023.

Mode secured the lead among global business intelligence (BI) software vendors in 2022, commanding a market share of 26 percent.

Microsoft Azure dominated the cloud-based business intelligence provider landscape in 2021, cited as critical by 69 percent of organizations, followed by Amazon Web Services and Google Cloud.

Business Intelligence Market Drivers:

Data exploration, coupled with complexity, is driving market growth.

Driving market growth is the confluence of data exploration and complexity, spurred by technological strides in artificial intelligence, machine learning, big data, cloud computing, data analytics, and the Internet of Things (IoT). This surge generates vast data volumes across industries like information technology, telecommunications, and healthcare, often intricate and challenging to interpret. BI tools are essential for deciphering, analyzing, and managing this data, facilitating informed decision-making, insights extraction, operational enhancements, profitability, reporting, and management. Cloud-based BI tools have become pivotal for 54% of enterprises, as reported by Dresner, indicating their critical role in present and future business initiatives.

Expanding Market Usage of BI Tools.

BI tools offer manifold advantages, unraveling customer insights, optimizing organizational efficiency, furnishing real-time data, and supporting enhanced marketing strategies. They aid in comprehending market trends via social media platforms and data analysis. Approximately two-thirds of global employees have access to at least one BI tool, underscoring their pervasive adoption, as per Towards Data Science.

Business Intelligence Market Restraints and Challenges:

Data security concerns, cost implications, data integration complexity, and the necessity for ongoing engagement pose substantial challenges. Data breaches, fraud, and cyber threats pose significant risks, while funding and maintenance costs present barriers to entry, particularly for smaller entities. Synchronizing with technological advancements and providing adequate training also remain impediments, compounded by the compatibility challenges between legacy systems and new technologies.

Business Intelligence Market Opportunities:

Innovations such as Power BI, Cloud BI, Self-Service BI, Data Governance, and advanced analytics present a gamut of opportunities within the market. These technologies, coupled with AI and ML, enable predictive analytics, empowering organizations to make informed decisions. User-friendly features, enhanced visualization, and an upsurge in customized solutions offered by consulting and management firms contribute to the expansion of this market.




Market Size Available

2023 - 2030

Base Year


Forecast Period

2024 - 2030



Segments Covered

By Component, Deployment Mode, Company Size, Industry Verticals, and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regional Scope

North America, Europe, APAC, Latin America, Middle East & Africa

Key Companies Profiled

Microsoft, Qlik, SAP, IBM, Oracle, MicroStrategy

Sisense, Domo, TIBCO Software, Yellowfin

Business Intelligence (BI) Market Segmentation: By Component

  • Software

  • Services

In the realm of components, the software sector stands as the most rapidly expanding segment within this market. This growth owes itself to the escalating utilization and presence of major entities like Tableau Software, Sisense, Notion, and Microsoft. The allure lies in the operational efficiency, heightened productivity, accuracy improvements, and superior decision-making offered by these software components. Moreover, their increasing integration within end-user industries such as healthcare, IT, and BFSI contributes significantly to this segment's expansion. Concurrently, services emerge as the fastest-growing segment, driven by the burgeoning demand for installation, maintenance, upgrades, support, and deployment services. The increasing adoption rate further fuels this segment's rapid growth trajectory.

Business Intelligence (BI) Market Segmentation: By Deployment Mode

  • On-premise

  • Cloud-based

Within the deployment modes, cloud solutions reign supreme as the largest and most rapidly expanding segment in this market. Their ascendancy stems from their cost-effectiveness, scalability, flexibility, outsourcing capacity, and simplified installation processes. Additionally, the prevalent usage of cloud capabilities among major corporations fortifies the dominance of this segment.

Business Intelligence (BI) Market Segmentation: By Company Size

  • Small and Medium-Scale Enterprises

  • Large Enterprises

Regarding business size, large enterprises command the largest share in this market due to their amplified workforce, complex data needs, substantial investments, robust infrastructure, collaborative frameworks, and the heightened demand and accessibility of resources, collectively contributing to a market share exceeding 60%. Conversely, small and medium-scale enterprises (SMEs) emerge as the fastest-growing segment. Their growth trajectory is fueled by government support, escalating investments, strategic marketing maneuvers, acquisitions, rising incomes, and the ongoing trend of urbanization.

Business Intelligence (BI) Market Segmentation: By Industry Verticals

  • BFSI

  • Healthcare and Life Sciences

  • IT and Telecommunications

  • Government and the Public Sector

  • Manufacturing

  • Consumer Goods and Retail

  • Media and Entertainment

  • Others

In the landscape of industry verticals, BFSI stands as one of the largest segments, propelled by the imperative to streamline operations, manage costs and risks, garner insights, enhance customer satisfaction, improve performance, handle vast data volumes, and execute robust marketing strategies, culminating in a 30% market share. However, dominant categories also encompass IT, telecommunications, and manufacturing. Notably, healthcare and life sciences emerge as the fastest-growing segments, attributed to their global operations, expanding workforce, increased investments, research and development endeavors, substantial clinical data generation, and the burgeoning demand for personalized medicine, foreshadowing significant growth during the forecast period.

Business Intelligence (BI) Market Segmentation: Regional Analysis

  • North America

  • Asia Pacific

  • Europe

  • South America

  • Middle East and Africa

In the regional context, North America retains its supremacy as the largest region, primarily driven by technological advancements, the presence of key companies, robust infrastructure, substantial investments, economic prowess, and widespread adoption across various end-user industries. The United States and Canada serve as pivotal contributors to the region's development, with the United States projected to generate the highest revenue ($13,150.00 million in 2023), capturing a 31% market share. Meanwhile, the Asia Pacific region, propelled by countries like China, India, and Japan, emerges as the fastest-growing region due to escalating funds, technological expertise, urbanization, rising incomes, burgeoning enterprises, government initiatives, and heightened demand, commanding a 22% share in this market. Europe also showcases substantial growth, notably in countries like Germany and the UK, solidifying its position among the leading regions.

COVID-19 Impact Analysis on the Global Business Intelligence (BI) Market:

The outbreak of the virus exerted a positive influence on the market dynamics. With lockdowns and movement restrictions becoming commonplace, remote work surged due to company closures, fostering a shift towards digitization. This transition augmented the demand for data-driven decision-making, crisis and risk management, supply chain optimization, online retail, and distance learning. Business intelligence tools played a pivotal role in addressing these challenges. Moreover, these tools witnessed increased utilization within the healthcare sector for analyzing diverse clinical records and patterns. These tools provided invaluable insights, aiding sales and marketing strategies. Post-pandemic, organizations increasingly embraced these solutions, as evidenced by a survey conducted by analytics platform provider Sinsense, revealing that 49% of companies now employ analytics to a greater extent than before the pandemic.

Latest Trends and Developments:

Companies in this industry are strategically leveraging alliances, investments, and acquisitions to bolster their market presence. They prioritize maintaining competitive prices while investing substantially in existing technologies and exploring novel avenues for expansion.

A recent trend gaining momentum is data storytelling, an art that creatively and visually presents data in easily comprehensible terms. Employing various mediums such as narration and interactive maps, data storytelling enhances understanding, facilitating informed business decisions.

Key Players:

  1. Microsoft

  2. Qlik

  3. SAP

  4. IBM

  5. Oracle

  6. MicroStrategy

  7. Sisense

  8. Domo

  9. TIBCO Software

  10. Yellowfin

Chapter 1. Business Intelligence (BI) Market – Scope & Methodology
1.1    Market Segmentation
1.2    Scope, Assumptions & Limitations
1.3    Research Methodology
1.4    Primary Sources
1.5    Secondary Sources 
Chapter 2. Business Intelligence (BI) Market – Executive Summary
2.1    Market Size & Forecast – (2024 – 2030) ($M/$Bn)
2.2    Key Trends & Insights
             2.2.1    Demand Side
             2.2.2    Supply Side
2.3    Attractive Investment Propositions
2.4    COVID-19 Impact Analysis 
Chapter 3. Business Intelligence (BI) Market – Competition Scenario
3.1    Market Share Analysis & Company Benchmarking
3.2    Competitive Strategy & Development Scenario
3.3    Competitive Pricing Analysis
3.4    Supplier-Distributor Analysis
Chapter 4. Business Intelligence (BI) Market Entry Scenario
4.1    Regulatory Scenario
4.2    Case Studies – Key Start-ups
4.3    Customer Analysis
4.4    PESTLE Analysis
4.5    Porters Five Force Model
             4.5.1    Bargaining Power of Suppliers
             4.5.2    Bargaining Powers of Customers
             4.5.3    Threat of New Entrants
             4.5.4    Rivalry among Existing Players
             4.5.5    Threat of Substitutes 
Chapter 5. Business Intelligence (BI) Market – Landscape
5.1    Value Chain Analysis – Key Stakeholders Impact Analysis
5.2    Market Drivers
5.3    Market Restraints/Challenges
5.4    Market Opportunities 
Chapter 6. Business Intelligence (BI) Market –  By Components
6.1    Introduction/Key Findings   
6.2    Software
6.3    Services
6.4    Y-O-Y Growth trend Analysis By Components
6.5    Absolute $ Opportunity Analysis By Components, 2024-2030 
Chapter  7. Business Intelligence (BI) Market – By Deployment Mode
7.1    Introduction/Key Findings   
7.2    On-premise
7.3    Cloud-based
7.4    Y-O-Y Growth  trend Analysis By Deployment Mode
7.5    Absolute $ Opportunity Analysis By Deployment Mode, 2024-2030
 Chapter 8. Business Intelligence (BI) Market – By company size
8.1    Introduction/Key Findings   
8.2    Small and medium-scale enterprises
8.3    Large enterprises
8.4    Y-O-Y Growth trend Analysis By company size
8.5    Absolute $ Opportunity Analysis By company size, 2024-2030
Chapter 9. Business Intelligence (BI) Market – By Industry
9.1    Introduction/Key Findings   
9.2    BFSI
9.3    Healthcare and life sciences
9.4    IT and telecommunications
9.5    Government and the public sector
9.6    Manufacturing
9.7    Consumer goods and retail
9.8    Media and entertainment
9.9    Others
9.10    Y-O-Y Growth trend Analysis By Industry
9.11    Absolute $ Opportunity Analysis By Industry, 2024-2030 
Chapter 10. Business Intelligence (BI) Market , By Geography – Market Size, Forecast, Trends & Insights
10.1    North America
             10.1.1    By Country
             10.1.2    By Components
                    By Industry
             10.1.3    By company size
10.2    By Deployment Mode
             10.2.1    Countries & Segments - Market Attractiveness Analysis
10.3    Europe
             10.3.1    By Country
                    Rest of Europe
             10.3.2    By Components
             10.3.3    By Deployment Mode
             10.3.4    By company size
             10.3.5    By Industry
             10.3.6    Countries & Segments - Market Attractiveness Analysis
10.4    Asia Pacific
             10.4.1    By Country
                    South Korea
                    Australia & New Zealand
                    Rest of Asia-Pacific
             10.4.2    By Components
             10.4.3    By Deployment Mode
             10.4.4    By company size
             10.4.5    By Industry
             10.4.6    Countries & Segments - Market Attractiveness Analysis
10.5    South America
             10.5.1    By Country
                    Rest of South America
             10.5.2    By Components
             10.5.3    By Deployment Mode
             10.5.4    By company size
             10.5.5    By Industry
             10.5.6    Countries & Segments - Market Attractiveness Analysis
10.6    Middle East & Africa
             10.6.1    By Country
                    United Arab Emirates (UAE)
                    Saudi Arabia
                    South Africa
                    Rest of MEA
             10.6.2    By Components
             10.6.3    By Deployment Mode
             10.6.4     By company size
             10.6.5    By Industry
             10.6.6    Countries & Segments - Market Attractiveness Analysis 
Chapter 11. Business Intelligence (BI) Market – Company Profiles – (Overview, Product Portfolio, Financials, Strategies & Developments)
11.1    Microsoft
11.2    Qlik
11.3    SAP
11.4    IBM
11.5    Oracle
11.6    MicroStrategy
11.7    Sisense
11.8    Domo
11.9    TIBCO Software
11.10    Yellowfin

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Frequently Asked Questions

 Global Business Intelligence (BI) Market has been valued at USD 27.95 billion in 2024 and is projected to reach a market size of USD 46.37 billion by the end of 2030. During the forecast period of 2024-2030, the market is expected to grow at a CAGR of 7.5%.

Data exploration coupled with complexity and increasing usage of BI tools are the main drivers propelling the increasing usage of BI tools.

Based on industry verticals, the global business intelligence (BI) market is segmented into BFSI, healthcare and life sciences, IT and telecommunications, government and public sector, manufacturing, consumer goods and retail, media and entertainment, and others.

North America is the most dominant region for the Global Business Intelligence Market.

Microsoft, Qlik, and SAP are the key players operating in the global business intelligence (BI) market.

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