The Business Intelligence (BI) software industry is quickly emerging as one of the top software categories in terms of market size. Gartner expects global revenue of BI to rise to $22.8 billion by 2020, and Reuters foresees additional growth to $29.48 billion by 2022. The business intelligence market is booming and will continue to do so as the market for BI solutions grows.
We realize that the rise of an analytics-driven industry isn’t exactly breaking news these days, but you may be wondering what these forecasts can mean for you and your business. With BI software leading the way in helping businesses make better-informed decisions, here are a few points worth noting, based on new market insights and input from some key thought leaders in the BI space. Let’s take a closer look at the BI market and what you need to know to keep your business up to date with the trends this year.