Pune, India, Oct. 04, 2022 (GLOBE NEWSWIRE) — The global Business Intelligence Market Size is expected to reach USD 43.03 billion by 2028, exhibiting a CAGR of 8.7% during the forecast period. The market stood at USD 22.26 billion in 2020 and reached USD 24.05 billion in 2021. Rapid digitization, emergence of several online businesses, and strong demand for data personalization are expected to boost the market’s growth. Fortune Business Insights™ mentions this information in its report titled “Business Intelligence Market, 2021-2028.”
BI is an analytic data software that tracks data and provides streamlined information to organizations, which helps them take effective business decisions. Rapid digitization leads to enormous data fragmentation, thereby necessitating the need for data analytics software. Further, the emergence of several online businesses and startups may augment the adoption of BI. In addition, the rising demand for effective data management solutions is expected to fuel market development during the upcoming years.
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January 2021: SAP SE completed the acquisition of Signavio GmbH to merge its Business Process Intelligence unit with Signavio’s portfolio to improve SAP’s services.
Report Scope & Segmentation
2022 to 2028
Forecast Period 2021 to 2028 CAGR
2028 Value Projection
USD 43.03 Billion
Business Intelligence Market Size in 2020
USD 22.26 Billion