When properly implemented, business intelligence can be advantageous for any company. Yet, you might wonder, "Where is the proof?" To dispel any doubts, we have gathered the top 50 BI statistics that vividly showcase its effectiveness and potential.
Business intelligence is rapidly gaining traction and is increasingly becoming a favored tool among companies worldwide.
Committed to conducting in-depth research and establishing a factual foundation, our team has delved into numerous sources to bring you the most pertinent, up-to-date, and practical information about business intelligence. This includes its present status, emerging trends, future forecasts, influence across various domains, and much more.
Without further ado — take a look at these 50 BI statistics now and make your own conclusions about the impact and potential of business intelligence in the corporate world.
Business intelligence market: historical growth, general facts, future projections, and adoption rates
Business intelligence is the cornerstone of informed decision-making in the data-driven world.
Below, we will explore a spectrum of statistics that illuminate BI’s market size, its growth in the coming years, and its adoption rates and share some prevalent facts about this essential tool.
1. According to Fortune Business Insights, the worldwide business intelligence market is expected to grow from a value of $29.42 billion in 2023 to $54.27 billion by 2030, achieving a CAGR of 9.1% throughout the forecast period.
2. The global business intelligence platform market, as per a RationalStat market report, is anticipated to see considerable growth and reach a value of $45.2 billion by 2030.
3. Projected to expand to $42.99 billion by 2030, the market size for business intelligence software reflects a CAGR of 9.02% from 2024 to 2030.
4. With a CAGR of 15.3% from 2024 to 2032, the mobile business intelligence market is on track to achieve a valuation of $51.5 billion by 2032.
5. According to Statista, the market for business intelligence and analytics software applications is projected to surpass $18 billion by 2026.
6. In 2023, 33% of large enterprises had employed analysts who were proficient in decision intelligence.
7. Business Research Insights indicates that the business intelligence market is categorized by type into cloud-based and web-based segments, with the cloud-based segment poised to lead the market.
In addition, based on application, the market is segmented into large enterprises and SMEs, with large enterprises expected to be the dominant segment.
8. The Skyquest BI report categorizes the business intelligence market by tool type, identifying key segments such as dashboards and scorecards, OLAP (Online Analytical Processing) and visualization tools, predictive analysis, query, reporting, and search tools.
9. In 2024, as projected by Statista, the business intelligence software market is expected to witness an average spending per employee of $7.80.
10. According to a survey by Deloitte, companies that have CEOs making data-driven decisions are 77% more likely to succeed.
11. The increasing adoption of big data and business analytics positively impacts the demand for business intelligence platforms.
12. IBM, Oracle, Microsoft, SAP, and Google are among the prominent contenders in the global business intelligence market.
13. Based on a survey conducted by analytics platform provider Sisense, 49% of companies have increased their utilization of business intelligence analytics compared to pre-pandemic levels.
14. According to Infosys, business intelligence platforms hold the third position among preferred technology choices, garnering a 20% preference rate. At the forefront is cloud technology, selected for its ability to drive innovation, optimize digital experiences, and contribute to achieving net-zero goals, with a leading preference rate of 23%. Closely following is digital trust, with a preference rate of 22%.
15. As reported by Market Research Future, the cloud-based business intelligence market represents the most rapidly expanding segment in BI.
16. Skyquest’s findings reveal that the growth of the global business intelligence market is driven by the widespread adoption of cloud-based solutions for informed business decisions and a surge in online consumer activities.
17. In the business intelligence market, the solutions segment is currently at the forefront and is expected to continue its dominance till 2033.
18. Future Market Insights suggests that the sales and marketing segment, categorized by business function, is expected to experience rapid growth throughout the forecast period from 2023 to 2033.
19. Per Gartner’s findings, by 2023, over 33% of large organizations had employed analysts who specialize in decision intelligence, encompassing decision modeling.
20. The expense associated with installing and licensing BI software is expected to constrain the expansion of the global business intelligence software market.
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Business intelligence statistics across industries and domains
Business intelligence tools are extensively adopted across diverse industries, where each sector leverages these technologies to fulfill its specific needs.
To gain a deeper understanding of BI’s impact, we will delve into significant statistics and examples showcasing its transformative role in different domains.
1. The global healthcare business intelligence market size is expected to hit $25.86 billion by 2032.
2. As per a report by Fortune Business Insights, the IT and telecommunication industry dominated the revenue share of the business intelligence market in 2022. This sector is one of many, including BFSI, retail, manufacturing, and healthcare, that are increasingly adopting BI solutions.
3. The global business analytics in the FinTech market is expected to soar to $22.9 billion by 2031.
4. Approximately 86% of business executives consider social media vital to their business strategies, with 93% regarding social media data as a key future source of business intelligence.
5. Retailers are significantly investing in BI technology. Precisely, 63% expect to increase their spending on business intelligence and data analytics. 35% plan to invest more in artificial intelligence development and solutions.
6. Future Market Insights reports that sectors such as healthcare, education, and IT have high expectations for business intelligence platforms, particularly for new features like perspective building, salesforce research, and surveys.
7. The global retail analytics market size is expected to hit $34.52 billion by 2031.
8. The global logistics alliance states that business intelligence can aid the logistics industry by enhancing real-time operational visibility, strengthening data-driven decision-making, increasing supply chain efficiency, improving customer experiences, cutting costs, and forecasting future demands, potential disruptions, and market trends.
9. As per the Human Resources Report, Geico, a prominent U.S. insurance provider, utilized business intelligence to enhance its recruitment efficiency by 15%.
10. The HR Analytics Market report by Mordor Intelligence indicates that business intelligence solutions can reduce the workload of ad hoc reporting for analysts, enhance data security for companies, and decrease the time dedicated to help desk support.
11. According to a report by Fortune Business Insights, the segment of financial performance and strategy management is expected to be the leading sector in the BI market.
12. Inkwood Research predicts that from 2023 to 2032, the BFSI (Banking, Financial Services, and Insurance) sector will experience the fastest growth in the market. This is due to the sector’s consistent implementation of business intelligence technologies, which significantly improve operations by enabling real-time problem identification and resolution.
Plus, real-time BI contributes to more efficient information processing, facilitating quicker and more accurate decision-making.
Discover how our professional data analytics services can help your company get ahead
Further detail references:
Business intelligence adoption across regions
North America maintains a leading role in the BI market, followed by the Asia Pacific as the second largest.
Next, we will explore the specific figures to understand how various global regions are adopting BI.
1. United States’ market leadership. Forecasted to maintain dominance with a 7.0% CAGR, targeting $18.3 billion in revenue by 2033.
2. China’s market trajectory. Poised for significant growth, expected to reach $3.8 billion by 2033 at a 6.5% CAGR.
3. United Kingdom’s market expansion. Projected to attain a $2.2 billion market value by 2033, with a 6.2% CAGR and a 6.7% global market share in 2022.
4. Germany’s market supremacy. Leading the business intelligence sector in Europe with the largest market share.
5. South America’s market evolution. Anticipated moderate growth, spurting high-tech company initiatives, government IT and telecommunication improvements, and increasing interest in embedded BI solutions.
6. Middle East and Africa’s market development. Moderate growth with new companies entering, and a notable rise in Turkey for data-driven decision-making based on diverse data sources.
Further detail references:
Dive into our comprehensive guide featuring the top 50 artificial intelligence statistics that are crucial for your consideration
A statistical overview of different business intelligence segments
The world of business intelligence is diverse and comprises various segments, each with its unique focus and applications.
Below, we present a detailed statistical perspective on these segments that showcases their relevance and evolution within the field of BI.
1. The market size of data visualization services, an integral part of business intelligence, is set to reach 14.91 billion by 2028.
2. The worldwide market for self-service business intelligence is expected to increase from $5.71 billion in 2023 to $20.22 billion by 2030.
3. The global embedded analytics market size is projected to achieve a market size of USD 180.5 billion by 2032 growing at a CAGR of 12.7% from 2023 to 2032.
4. The market size for cloud business intelligence tools is projected to hit $17.2 billion by the end of 2030.
5. According to Future Market Insights, the social business intelligence market size is projected to be worth $25,886.8 million in 2024.
6. According to G2, data integration, accounting for 20%, and data security, contributing 14%, are the primary challenges in self-service business intelligence
Further detail references:
Acumen Research and Consulting
Business intelligence trends for 2024 and beyond
Business intelligence trends are markedly transforming the domains of data analysis and decision-making within professional environments.
Let’s explore some of the most prominent ones that are set to redefine the landscape of business intelligence.
1. The key trends in the business intelligence market encompass the rising adoption of cloud computing and big data, increased penetration of natural language processing (NLP) in enterprises, escalating demand for data visualization, and expanding utilization in the BFSI industry.
2. According to Gartner, the 5 key capabilities of analytics and business intelligence platforms must be automated insights, data visualization, product usability, data preparation, and manageability.
3. Future Market Insights states that the three key factors fueling growth in the business intelligence sector include the widespread digital transformation in corporate settings, the increasing incorporation of big data and cloud computing in business processes, and the escalating uptake of advanced technologies due to intensifying market competition.
4. According to the BARC Data, BI, and Analytics Trend Monitor 2024, the top 5 business intelligence trends for 2024 are enhancing data security, improving data quality, cultivating a data-driven culture, strengthening data governance, and increasing data literacy.
5. Payscale reports that the average annual salary for a business intelligence analyst in 2023 was $74,071.
6. Inkwood Research highlights the prioritization of data governance, location intelligence, and enterprise planning by large-scale businesses to enhance operational efficiency. Besides, global firms consistently reap the benefits of BI systems, as they excel in the efficient implementation and maintenance of these solutions.
Further detail references:
Explore the 15 leading business intelligence trends for 2024 and beyond researched and compiled by the PixelPlex team
Closing thoughts
As we conclude our exploration of the top 50 business intelligence statistics, predictions, and trends for 2024 and beyond, it becomes evident that the BI landscape is set for rapid evolution and expansion, which offers immense potential for organizations to harness data-driven insights for strategic decision-making.
For businesses that are ready to take the next step, PixelPlex presents specialized business intelligence services. Our team excels in BI consulting, development, and implementation, as well as in the integration and customization of BI platforms.
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