Embedded Business Intelligence Software Market Analysis and Latest Trends
Embedded Business Intelligence (BI) software is a type of analytics solution that is integrated directly into other software applications or systems. It offers real-time data analysis and reporting capabilities within the context of the application or system it is embedded in. This allows users to access and analyze data without the need to switch to a separate BI tool or platform.
The embedded BI software market has seen significant growth in recent years and is expected to continue growing at a CAGR of 5.9% during the forecast period. One of the main factors driving this growth is the increasing adoption of data-driven decision making across various industries. Organizations are realizing the value of real-time analytics, and embedding BI software into their applications allows for more efficient and seamless access to data insights.
Additionally, the rise of cloud computing and the increasing demand for mobile BI solutions have also contributed to the growth of the embedded BI software market. Cloud-based embedded BI solutions offer scalability and flexibility, while mobile BI capabilities enable users to access data and reports on-the-go, further enhancing decision-making processes.
In terms of trends, there has been an increased focus on self-service BI capabilities within embedded BI software. This empowers business users to conduct their own data analysis and generate insights without relying on IT or data analysts. Furthermore, advancements in artificial intelligence (AI) and machine learning (ML) are being integrated into embedded BI solutions, enabling predictive analytics and automated insights generation.
Overall, the embedded BI software market is expected to continue its growth trajectory, fueled by the increasing need for real-time analytics, the adoption of cloud and mobile solutions, as well as advancements in self-service and AI-driven capabilities.
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Embedded Business Intelligence Software Major Market Players
The embedded business intelligence (BI) software market is highly competitive with multiple players vying for market share. Some of the prominent companies in this space include Domo, Tableau Server, Power BI, Looker, Sisense, InsightSquared, SAP, Oracle, QlikView, WebFOCUS, BOARD, MicroStrategy, Dundas BI, IBM, ClicData, and Halo.
Tableau Server, a product of Tableau Software, is one of the leading players in the embedded BI software market. The company has witnessed a significant market growth due to its user-friendly interface and powerful data visualization capabilities. With its focus on empowering businesses to make data-driven decisions, Tableau Server has expanded its market presence globally. In 2020, Tableau Software was acquired by Salesforce, which further strengthened its position in the market.
Power BI, a product by Microsoft, is another major player in the embedded BI software market. Microsoft's extensive customer base and strong brand recognition have helped Power BI grow rapidly. Its ability to seamlessly integrate with other Microsoft products and services has been a key driver of its market success. As of 2020, Power BI had over 10 million subscribers, indicating its significant market size.
SAP, a global leader in enterprise software solutions, provides embedded BI capabilities through its SAP BusinessObjects product suite. The company has a diverse customer base spanning various industries and geographies. SAP's market growth is driven by its comprehensive BI offerings, including reporting, analytics, and data visualization tools. In 2020, SAP reported total revenue of €27.34 billion ($32.25 billion), with its analytics division contributing to a significant portion of the company's sales.
MicroStrategy is a well-established player in the embedded BI software market, known for its enterprise-grade analytics platform. The company has a strong foothold in the industry, catering to various business sizes and sectors. With its focus on augmented analytics, artificial intelligence, and machine learning capabilities, MicroStrategy aims to continue its market growth and expand its customer base. In 2020, the company reported total revenue of $486.6 million.
While specific revenue figures for all the listed companies are not available, it is evident that the embedded BI software market is a lucrative industry with strong growth potential. As more organizations recognize the value of data-driven decision-making, the demand for advanced BI tools and analytics platforms is expected to increase. The global embedded BI software market size was valued at $6.71 billion in 2019, and it is projected to reach $27.01 billion by 2027, growing at a compound annual growth rate (CAGR) of 19.7% from 2020 to 2027.
What Are The Key Opportunities For Embedded Business Intelligence Software Manufacturers?
The Embedded Business Intelligence Software market is experiencing notable growth due to the increasing demand for efficient data management and analytics solutions across various industries. This software allows organizations to embed analytics capabilities directly into their existing applications, enhancing decision-making processes and improving overall operational efficiency. Furthermore, advancements in data analytics technologies, such as artificial intelligence and machine learning, are expected to drive the market's growth even further. With the rising adoption of cloud-based solutions and the increased focus on data-driven decision-making, the future outlook for the Embedded Business Intelligence Software market looks promising. The market is anticipated to witness significant growth over the coming years.
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Market Segmentation
The Embedded Business Intelligence Software Market Analysis by types is segmented into: