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Business Intelligence & Analytics Market to Reach USD 84.25 Bn in 2028

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The global business intelligence and analytics platforms market size is expected to reach USD 84.25 Billion at a revenue CAGR of 11.9% in 2028, according to latest analysis by Emergen Research. Steady market revenue growth of business intelligence and analytics platforms can be attributed to rising demand by enterprises to enhance operational efficiency. Business intelligence and analytics platforms combine multiple data sources enabling businesses to reduce time spent on information tracking and focus on faster delivery of precise reports. Easy accessibility to up to date and precise business information and market dynamics, enable defining short and long term organizational goals and evaluate its impact on revenue generation. Business intelligence and analytics platforms help in delivering a 360-degree assessment on all business dimensions to aid firms recognize issues and enhance operations and improve sales, thereby increasing revenue.

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Rising demand for business intelligence and analytics platforms is due to their immense significance in helping companies gain competitive edge. These platforms help in budgeting, forecasting, and planning, as well as track sales and marketing performance of competitors and provide insight on differentiating products. However, lack of skilled professional and constraints associated with budget allocation for business intelligence tools in small and medium sized organizations may hinder market revenue growth over forecast period.

Some Key Highlights from the Report

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Emergen Research has segmented the global business intelligence and analytics platforms market on the basis of platform type, organization size, mode of deployment, industry vertical, and region:

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