Embedded Business Intelligence Market 2030: Global Trends and Growth Analysis
The global embedded business intelligence market is currently witnessing a surge in growth, attributed to the increasing adoption of embedded business intelligence tools by software vendors striving to enhance operational efficiency and achieve substantial returns on investment (ROI). This growth trend is further accelerated by the widespread adoption of web-based and cloud-based business intelligence (BI) solutions.
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An illustrative example of this trend is the strategic partnership established between SAS and Microsoft in June 2020. This collaboration facilitated the seamless migration of SAS' analytical products and industrial solutions to Microsoft Azure, solidifying Azure's role as the chosen cloud provider for SAS Cloud. A similar collaboration was observed between the Coca-Cola Company and Microsoft in April 2020, as both entities harnessed the capabilities of Microsoft Azure, Dynamics 365, and Microsoft 365 to elevate both customer and employee experiences.
The expansion of the embedded business intelligence sector is rooted in its pivotal role within data-centric business models across enterprises of varying scales, coupled with the increasing adoption of e-commerce. Prominent US food franchises such as Wendy's and Ruby Tuesday have embraced embedded BI tools to strengthen customer relationships and streamline decision-making processes. This strategic approach empowers businesses to implement transformative changes and provide exceptional customer service. The growing adoption of data and business analytics software, combined with consistent investments in BI tools, collectively contribute to the sector's significant revenue growth.
The banking, financial services, and insurance (BFSI) sector is positioned to lead growth within the embedded business intelligence market. The rapid expansion of the BFSI industry can be attributed to digitization and the swift integration of diverse technological advancements. Technologies such as business intelligence and data analytics empower banks to navigate regulatory challenges, maintain competitiveness, and cater to the evolving
digital expectations of modern customers. These solutions enable improved financial and operational decision-making within financial institutions. The growth of the BFSI sector is driven by factors including the increasing adoption of data analytics, rising data generation, widespread cloud-based BI adoption by small and medium-sized enterprises (SMEs), and the enhanced efficiency of embedded BI tools. The growing reliance on data due to the proliferation of AI, machine learning (ML), and the Internet of Things (IoT) amplifies the demand for embedded business intelligence tools.
North America is poised to lead the embedded business intelligence market due to the presence of influential market players. Intense competition, substantial research and development investments in technology, and the growing data landscape contribute to market expansion in the region. The integration of BI tools is gaining momentum as a response to data integration challenges faced by enterprise resource planning (ERP) systems, further propelling the growth of BI across diverse industries. Collaborative initiatives and strategic partnerships among organizations in North America drive efficiency enhancements and operational improvements through the integration of BI technologies.
Asia Pacific is projected to experience rapid growth, driven by emerging economies like China and India. Key growth drivers encompass the widespread adoption of embedded BI software and tools, the outsourcing of cloud deployment activities, and an escalating demand for customer insights.
Prominent players actively shaping the embedded business intelligence market include Birst, Inc., International Business Machines Corporation (IBM), Information Builders, Logi Analytics, Microsoft Corporation, SAP SE, MicroStrategy Inc., OpenText Corporation, Qlik Technologies, and TIBCO Software Inc. Notable accomplishments include IBM's creation of an interactive global dashboard using IBM Cognos Analytics to visualize the global spread of COVID-19 in March 2020. Additionally, Salesforce's acquisition of Tableau in August 2019 empowers Salesforce to deliver AI-driven insights across diverse data types and use cases to individuals with varying skill levels.
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