Embedded Business Intelligence Software Market Size (2023 - 2030)

Global Embedded Business Intelligence Software Market is estimated to be worth USD 11.55 Billion in 2022 and is projected to reach a value of USD 29.63 Billion by the end of 2030, growing at a rapid CAGR of 12.5% during the outlook period 2023-2030.

Embedded business intelligence (BI) software permits developers to incorporate analytics capabilities directly into a business application. By using this cutting-edge tool, software developers can swiftly embed self-service analytics functionalities into their business applications. Certain BI platforms and self-service BI software enable the integration of interactive dashboards into applications utilized by corporate personnel. This greatly simplifies as well as enhances the convenience of data analysis. The degree of integration speed and user customization possibilities, however, determines how distinct these tools' capabilities are. Developers utilizing embedded BI tools attain access to a software development kit that permits them to effortlessly incorporate analytics capabilities into their applications as well as keep the analytics embedded in their proprietary product. These tools are primarily offered to software companies, although, they can also be sold to corporate businesses for utilization in their internal systems. Embedded analytics are devised for easy utilization by regular business users within the application, often providing self-service analysis capabilities. Furthermore, if the product cannot operate independently as a self-service business intelligence tool and is solely intended for embedding, it is categorized as "embedded business intelligence".

Global Embedded Business Intelligence Software Market Drivers:

The empowered data-driven driven decision-making via embedded analytics is fueling the growth of the Global Embedded Business Intelligence Software Market.

Embedded analytics empowers users to make data-driven decisions, with 23% of respondents in a Reveal BI survey acknowledging its value. Especially during the COVID-19 pandemic, scenario modeling integration into enterprise systems aided in addressing supply chain interruptions and demand fluctuations. Although only a small fraction of firms have embraced it, this seamless incorporation provides benefits without necessitating substantial training, and as per the Harvard Business Review, equipping front-line staff with superior technology-enabled insights boosts productivity and decision-making. Therefore, this factor propels the demand for embedded BI software.

The boosted sales performance via embedded business analytics and supply chain integration is another factor contributing to the growth of the Global Embedded Business Intelligence Software Market.

The exemplification of product recommendations in e-commerce systems depicts how embedded analytics carry the ability to raise sales performance. Real-time supply chain data is being progressively incorporated by firms, delivering clients with insightful details about back-ordered items along with speedier delivery options. This integration among supply chain, CRM, and finance is growing more common. Embedded analytics benefits not just customer portals but also B2B enterprises by streamlining salespeople's workflows. This lets them devote more time actively selling as opposed to dealing with inquiries, ultimately driving boosted sales outcomes. Therefore, this factor also propels the demand for embedded BI software.

Global Embedded Business Intelligence Software Market Challenges:

The Global Embedded Business Intelligence Software Market is encountering obstacles, primarily concerning restricted business applications and limited ad-hoc customization in embedded analytics. The drawback of the seamless integration of embedded analytics within business applications is that the analytics available is limited to only one application. Sales representatives, for instance, may not be able to access the post-sale satisfaction rating of the accounts they handle since customer support data is often maintained outside of the CRM platform. Moreover, the inability to freely alter reports on-the-fly is another concern with embedded analytics. Ad-hoc customization presents a hurdle given that software vendors provide pre-defined configurations that might not match the distinctive needs of every customer. Thus, these hindrances curtail the progress of the Global Embedded Business Intelligence Software Market.

Global Embedded Business Intelligence Software Market Opportunities:

The Global Embedded Business Intelligence Software Market is projected to offer profitable prospects for businesses operating in the BI and analytics domain, fostering partnerships, mergers, collaborations, and agreements during the forecasted period. Furthermore, there is a potential to make technological advancements and upgrades with novel business ideas for a competitive edge in the market by tapping into a profitable outcome. 

COVID-19 Impact on the Global Embedded Business Intelligence Software Market:

The Global Embedded Business Intelligence Software Market noted a positive boost in growth owing to the impact of the COVID-19 pandemic. As offices, schools, and factories remained closed indefinitely, major sports events were postponed, and work-from-home and social distancing measures were in place worldwide, businesses sought ways to navigate through those challenging times. To cope with the situation, companies turned to technology solutions. To assist executives with arriving at crucial business decisions to address the unique challenges brought about by the pandemic, advanced analytics specialists, BI experts, and analytics professionals were called upon.

Global Embedded Business Intelligence Software Market Recent Developments:

• In March 2023, Yellowbrick Data and Panintelligence joined forces in a new partnership, striving to provide unique support for using embedded analytics within a data warehouse, serving both cloud and on-premises SaaS environments. 

• In January 2023, Cumul.io, the creator of a low-code BI analytics platform devised for software-as-a-service (SaaS) companies, successfully secured EUR 10 million (USD 10.8 million) in a Series A funding round.

• In September 2021, Amazon Web Services introduced Amazon QuickSight Q, a fresh addition to the QuickSight platform that empowers users to make natural language queries. 

EMBEDDED BUSINESS INTELLIGENCE SOFTWARE MARKET REPORT COVERAGE:

Global Embedded Business Intelligence Software Market Segmentation: By Deployment Mode

• Cloud-Based

• On-Premises

Based on the Deployment Mode, the Cloud-Based segment occupied the highest market share in the year 2022. The growth can be ascribed to the advantages that the cloud-based embedded BI software offers in contrast to the on-premises software, including easy and swift data accessibility, immense storage availability, data-sharing capacities, scalability, and the utmost data security. Cloud-based platforms firmly store data on remote servers instead of maintaining it on physical data storage devices like hard disks and USB flash drives. They offer cost savings in comparison to on-site data centers and provide cutting-edge security when contrasted with storing data on personal computers.

Global Embedded Business Intelligence Software Market Segmentation: By Organization Size

• Large Enterprises

• Small & Medium-sized Enterprises (SMEs)

Based on the Organization Size, the Large Enterprises segment occupied the highest market share in the year 2022. The growth can be ascribed to the extensive adoption of embedded business intelligence software by large enterprises to enhance their internal and external business processes. The increasing utilization of real-time data compilation tools and advanced analytical engines is fueling the demand for embedded BI software in large enterprises. The high emphasis on resource allocation and strategic decision-making is further envisaged to boost the segment's expansion.

Global Embedded Business Intelligence Software Market Segmentation: By Industry Vertical

• Banking, Financial Services, & Insurance (BFSI)

• Government & Public Services

• Healthcare & Life Sciences

• IT & Telecommunications

• Media & Entertainment

• Retail

• Transportation & Logistics

• Others

Based on the Industry Vertical, the BFSI segment occupied the highest market share in the year 2022. The growth can be ascribed to the swift rise of the BFSI sector, fueled by digital transformation and the embracing of various technological breakthroughs lately. By harnessing avant-garde technologies and tools like BI and data analytics, financial institutions have managed to abide by statutes, uphold their competitiveness, and accommodate the digital requirements of present-day clientele. The ability of financial entities to make sound operational and financial decisions has been made possible to a large extent by these solutions.

Global Embedded Business Intelligence Software Market Segmentation: By Region

• North America

• Europe

• Asia-Pacific

• South America

• Middle East & Africa

Based on the Region, North America occupied the highest share of the Global Embedded Business Intelligence Software Market in the year 2022. The growth can be ascribed to heightened competition, substantial research and development (R&D) efforts in technology, and a rising trend of data proliferation. The increasing number of partnerships and alliances to boost their efficiency and operations within enterprises with the help of embedded BI solutions is propelling the region's growth. Furthermore, the region houses several prominent market players, encompassing Salesforce, Inc., Kaz Inc., Sigma Computing, Inc., QlikTech Inc., and ThoughtSpot, Inc.

The region of Asia-Pacific is anticipated to expand at the quickest rate over the forecast period 2023-2030 owing to the augmenting demand in emerging economies like China and India, the extensive adoption of embedded BI platforms and tools, the outsourcing of cloud deployment activities, and the growing need for customer insights.

Global Embedded Business Intelligence Software Market Key Players:

1. Salesforce, Inc. (United States)

2. Microsoft Corporation (United States)

3. Google LLC (United States)

4. Amazon.com, Inc. (United States)

5. ThoughtSpot, Inc. (United States)

6. Sigma Computing, Inc. (United States)

7. QlikTech Inc. (United States)

8. IBM Corporation (United States)

9. Kaz Inc. (United States)

10. Sisense Ltd. (United States)