NEW YORK, Jan. 16, 2017 /PRNewswire/ -- "Increasing BYOD trend is driving the growth"
MarketsandMarkets estimates the global mobile Business Intelligence (BI) market to grow from USD 4.08 billion in 2016 to USD 11.13 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 22.2%. The mobile BI market is growing rapidly because of the transition from traditional BI techniques to advanced BI and analytics techniques, which can be managed and utilized from anyplace at any time, and the massive surge in the Bring Your Own Device (BYOD) trend across industry verticals. Factors such as difficulty in identifying durable return on investment and lack of sustainable data governance process are expected to limit the market growth.
"IT business function to have the largest market size in 2016"
Organizations are evolving their Information Technology (IT) monitoring tools to gain more visibility into the new complexity. With the right solution, one can detect patterns early to predict issues before they arise. Mobile BI allows big data from IT to be converted into relevant and actionable insights for a quick problem resolution. It enables the organizations to extract insights from key operational data types, such as log files, performance metrics, events, and trouble tickets, so that they can proactively avoid outages, achieve faster mean time to repair, and realize cost savings through greater operational efficiency from anyplace. Therefore, IT is estimated to have the largest market share in 2016 among all business functions.
"Healthcare and life sciences vertical to have the highest growth rate during the forecast period"
Mobile BI solutions have been deployed across various verticals, including Banking, Financial Services, and Insurance (BFSI); telecommunication & IT; retail & eCommerce; manufacturing; healthcare & life sciences; energy & utilities; transportation & logistics; media & entertainment; government & defense; and others. Healthcare and life sciences industry vertical is expected to witness the highest CAGR during the forecast period because of the increasing need for managing real-time data coming from various healthcare activities, such as patient's sleep analysis and calories burnt based on the physical activities conducted.
"North America is expected to hold the largest market share"
North America, followed by Europe, is expected to continue being the largest revenue-generating region for the mobile BI vendors for the next five years. This is mainly due to the presence of various developed economies, such as Canada and the U.S. and because of the high focus on innovations through research & development and technology across industry verticals. Asia-Pacific (APAC) is expected to be the highest growing region in the mobile BI market because of the increasing adoption of Internet of Things (IoT) & smart technologies and government initiatives such as smart cities in the APAC countries, including China and India.
In-depth interviews were conducted with the Chief Executive Officers (CEOs), marketing directors, other innovation & technology directors, and executives from various key organizations operating in the mobile BI marketplace.
- By Company – Tier 1 – 22%, Tier 2 – 30%, and Tier 3 – 48%
- By Designation – C-Level – 30%, Director Level – 45%, and Others – 25%
- By Region – North America – 48%, Europe – 30%, and APAC – 22%
The mobile BI ecosystem comprises the following major vendors:
1. IBM Corporation (U.S.)
2. SAP SE (Germany)
3. Microsoft Corporation (U.S.)
4. Oracle Corporation (U.S.)
5. MicroStrategy (U.S.)
6. SAS Institute (U.S.)
7. Tableau Software (U.S.)
8. Information Builders (U.S.)
9. TIBCO Software (U.S.)
10. Yellowfin International Pty Ltd. (U.S.)
11. Qlik Technologies (U.S.)
Scope of the Report
The mobile BI market revenue is primarily classified into revenues from software and services. Software's revenue is associated with stand-alone software offerings while services' revenue is associated with managed services and professional services. The professional services comprise deployment & integration, support & maintenance, and consulting services. The market is also segmented on the basis of business functions, applications, deployment models, industry verticals, and regions.
Reasons to buy the report
- To get a comprehensive overview of the global mobile BI market
- To gain wide range information about the top players in this market sphere, their product portfolios, and the key strategies adopted by them
- To gain insights of the major countries/regions in which the mobile BI market is flourishing in various industries
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