LONDON–(BUSINESS WIRE)–The business intelligence (BI) and analytics platforms market will witness an incremental growth of USD 12.62 billion during 2020-2024, according to the latest pandemic recovery-based research report by Technavio. Factors such as imposition of worldwide lockdowns have partially halted operations and affected supply chains and logistics. This has further impacted economies around the globe, resulting in an overall slowdown during 2020. However, businesses are gradually carving out unique pathways to recover from the COVID-19 crisis. With the exemption of lockdowns, growing incorporation of active social distancing and remote working, and surging entries of players in digital marketplaces, various industry and market conditions are likely to improve by early 2021.
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- Information Technology industry will have Mixed impact due to the pandemic
- Business intelligence (BI) and analytics platforms market is expected to witness Positive growth during 2020-2024
- Information Technology Industry will witness Direct impact during the forecast period
- Business intelligence (BI) and analytics platforms market growth is likely to Increase in 2020 compared to 2019 due to Positive YOY
Markets across the globe have faced the economic wrath of the pandemic and are dealing with uncertainties by banking on the online marketspace to reach out for a wider target audience. This business intelligence (BI) and analytics platforms market research report encompasses all possible factors expected to drive the market growth and create opportunities for all the stakeholders in the supply chain. View detailed business intelligence (BI) and analytics platforms market insights here: https://www.technavio.com/report/business-intelligence-and-analytics-platforms-market-industry-analysis
Key Business Intelligence (BI) and Analytics Platforms Market Research Findings
- A CAGR of almost 10% is expected to be recorded in business intelligence (BI) and analytics platforms market during 2020-2024
- BFSI segment will hold the largest market share. The BFSI sector is expected to deploy business intelligence and analytics solutions for detecting and reducing financial fraud, measuring credit risk, and retaining valuable customers.
- North America will account for the highest incremental growth. The growing healthcare sector and the significant amount of data produced in North America will significantly drive BI and analytics platforms market growth in this region over the forecast period.
- Rising need to improve business efficiency will boost the business intelligence (BI) and analytics platforms market growth
- Flourishing medical tourism industry globally will have a positive impact on the business intelligence (BI) and analytics platforms market
- Rising data privacy and security concerns is likely to create hindrance for the business intelligence (BI) and analytics platforms market
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Business Intelligence (BI) and Analytics Platforms Market Vendor Participation Scenario
- Market is Fragmented
- Several leading companies in the market are focusing on restoring their economic activity
- Vendors are concentrating on growth prospects from fast-growing segments while retaining their positions in slow-growing segments.
- Prominent business intelligence (BI) and analytics platforms market players are Hitachi Ltd., International Business Machines Corp., Microsoft Corp., MicroStrategy Inc., Oracle Corp., QlikTech international AB, SAP SE, SAS Institute Inc., Tableau Software LLC, and TIBCO Software Inc.
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Key Considerations for Market Forecast
- Products and services used to manage or contain the spread of COVID-19 virus
- Products and services used for the treatment of COVID-19 virus
- Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
- Optimistic, base case, and pessimistic scenarios for all markets as the impact of pandemic unfolds
- Pre- and post-COVID 19 market estimates
- Quarterly impact analysis as the spread reaches global level and updates on market estimates
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Table of Contents:
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 – 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by End-user
- Market segments
- Comparison by End-user
- BFSI – Market size and forecast 2019-2024
- Healthcare – Market size and forecast 2019-2024
- ICT – Market size and forecast 2019-2024
- Government – Market size and forecast 2019-2024
- Others – Market size and forecast 2019-2024
- Market opportunity by End-user
- Geographic segmentation
- Geographic comparison
- North America – Market size and forecast 2019-2024
- Europe – Market size and forecast 2019-2024
- APAC – Market size and forecast 2019-2024
- MEA – Market size and forecast 2019-2024
- South America – Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers – Demand led growth
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- Hitachi Ltd.
- International Business Machines Corp.
- Microsoft Corp.
- MicroStrategy Inc.
- Oracle Corp.
- QlikTech international AB
- SAP SE
- SAS Institute Inc.
- Tableau Software LLC
- TIBCO Software Inc.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.