A report on Business Intelligence Market was recently added by Kenneth Research into its database, which is aimed at providing the clients with the business growth and investment opportunities present in the market all around the world. The report covers various parameters on the basis of which the market is evaluated, including the market size, market volume and the growth rate observed by the market over the forecast period, i.e., 2022-2031.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Business Intelligence Market Products.
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According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017. On the other hand, growing awareness amongst individuals for using the internet is also anticipated to contribute to the market growth. For instance, the total number of individuals using the internet grew from 8% of total population in 2001 to 49% of total population in 2017.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Growth in the country’s GDP over the past years and a strong surge in trading activities within key industry verticals have resulted in the expansion pf business which in turn has directly amplified the customer base tremendously in India. This increase in customer base and an urgency to cater to the massive amount of data is stimulating the need for business intelligence and analytical tools market in India. Currently, the market is valued at INR 7.9 bn and is expected to attain a CAGR of 22% to reach INR 17.5 bn by 2015. Key industry verticals like Retail and the Healthcare will further intensify the demand for BI tools and vendors in the market will enjoy ample opportunity to capitalize.
The report commences with an illustration of Business Intelligence (BI) architectural model followed by an explanation of various types of BI solutions. The section enlightens readers on topics such as the basic function of a BI tool. Market Overview section lists the major BI adopting industry verticals and their primary reasons of adoption. The section also depicts the present and future market size figures of BI in India, thereby giving a clear picture of the current and future market scenario. It also illustrates the share of BI users in the SMB market space. Moving along, the report further elaborates on the BI market scenario within the SMB space, wherein market size and the segments of the type of BI used, is illustrated to give a better insight of the market space. It talks about the key areas of BI implementation amongst SMBs and highlights the breakup between traditional and SaaS based BI. The report also features a section on the Cloud Based BI or on-demand BI, which talks about the various crucial aspects with relevance to BI implementation such as evaluation of appropriate vendors, deployment strategy, usage and the benefits of on-demand BI. It is followed by the Popular Features section which lists and elaborates on the functionality of the most popular features within the Indian BI market. Primarily, the features have been derived and sorted after an in-depth research on the most widely used BI tools by organizations across industries in India.
This report features a separate section on Selection and Implementation of BI focusing solely on the most crucial phases of selection and implementation phases of a BI solution. The section enlists and elaborates on three important BI selection procedures, namely Selection by Solution Model, Selection by Solution Purpose and Selection by Solution Components, thereby giving readers with a comprehensive set of value added guidelines, using which the overall selection procedure within an organization can be effectively carried out. This section is immediately followed by Recurring Costs section which chalks out the major cost driven issues of BI implementation in an organization. It enlightens readers on the various BI associated expenditure, a company is likely to face post implementation of a BI tool. Best Practices section lists some strategically derived principles which can effectively reap maximum Return on Investment (ROI) within a span of an optimal time period. BI Benefits talks about the five basic advantages a company is most likely to gain after implementing a BI tool. It clearly distinguishes the primary benefits and the main objective of a BI solution.
The section on Future Trends elaborates on the prospective developments identified in the market which are expected to gain momentum in the coming years comprise of a gradual shift in inclination towards mobile BI, increased availability of ‘in-memory analytics’ enabled BI solutions and social media involvement in BI tools. Factors such as an increased mobility amongst enterprises, persistent decline in hardware prices and the rapid incorporation of social media will mainly govern these trends. This section offers strategic insights about the future market scenario and hence will particularly aide the BI vendors keen on garnering a better foothold in the Indian market in the coming years.
Key Players section comprises of a list of major foreign and domestic players, who have marked a significant presence in the Indian BI market. Individual players have been listed with their respective company snapshots, a generic overview of the business and operational highlights and major corporate activities. It also covers a sales intelligence segment which provides key point of contacts of the particular company. It is followed by an explicit detailed summary of BI products and services offered by these players, wherein readers can retrieve all valuable and needed information such as specifications, key features, and targeted verticals.
Major Users portion illustrates some major BI users across key industries such as Manufacturing, Healthcare, BFSI (Banking and Financial Services) and Others (Retail and Logistics), thereby depicting the scenario about the current BI users in India and hence can be effectively utilized to generate strategic lead and sales intelligence.
A set of case studies have been included under the Case Studies section wherein major cases across a range of industries have been mentioned with explicit details. The section begins by stating the client organization and its respective industry vertical along with the BI vendor. It then elaborates about the actual business need, the solution used and thereafter the benefits reaped by the client organization. It also highlights the specific technology used in the case.
The report concludes with a strategic recommendation derived after a thorough research of the market. The recommendations included within focus solely on the BI vendors and are intended to provide aide in the decision making process of a prospective BI vendor keen on expanding its business in the competitive Indian BI market.
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The Market report answers the following questions:
What is the aim of the report?
- The market report presents the estimated market size of Business Intelligence Market by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
- Based on various indicators, the Year-on-Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
- An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.
- The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
- The various parameters accelerating the growth of Market are incorporated in the research report.
- The report analyzes growth rate, market size and valuation of the Market during the forecast period.
What aspects regarding the regional analysis Market are included in this report?
- Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
- The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
- The growth rate of the market in every region, including their countries over the forecast period is included in the market report.
Based on what factors are the key market players assessed in this report?
- The report offers detailed analysis of leading companies in the market across the globe.
- It provides details of the major vendors involved in the Market including Key Playes
- A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and the manufactured products is incorporated in the report.
- The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
- The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.
What is the key information extracted from the report?
- Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
- The report offers the present scenario and future growth prospects Market in various geographical regions.
- The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
- The SWOT analysis is conducted along with Porter’s Five Force analysis.
- The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.
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