Portland, OR, May 25, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global mobile BI market generated $4.10 billion in 2016, and is projected to generate $15.99 billion by 2023, witnessing a CAGR of 21.6% from 2016 to 2023. The report offers a detailed analysis of changing market dynamics, key segments, value chain, top investment pockets, regional scenario, and competitive landscape.
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Rise in demand for enterprise BI mobile applications, increase in the use of cloud services, and real time reporting analytics drive the growth of the global mobile BI market. However, lack of IT infrastructure, knowledge & skills in undeveloped nations and surge in privacy and security concerns of data hinder the market growth. On the other hand, surge in the need of employee productivity and rise in efficiency and coordination in operations and business processes create new opportunities in the coming years.
Impact of Covid-19 on Mobile BI Market:
- The covid-19 outbreak has immensely impacted the world and disrupted the lifestyles globally. Most of the industries have been suspended during the initial phase of the lockdown, to curb the spread of covid-19. Which affected the Mobile BI industry to certain extent.
- The trend of remote working and stay at home, however, has proliferated the demand for telecommunications, media and entertainment. Which further augmented the demand for mobile BI.
- Moreover, the government bodies have relaxed certain restriction to support the industries in terms of economic stability. This is expected to help the mobile BI industry to recoup soon.
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The report offers detailed segmentation of the global mobile BI market based on application, industry vertical, type, and region.
Based on industry vertical, the media and entertainment segment held the highest market share in 2018, and is projected to maintain its lead position during the forecast period. However, the BFSI segment is projected to witness the largest CAGR of 20.2% from 2016 to 2023. Other segments covered in the report include IT and telecommunications, healthcare and life sciences, government and defense, energy and utilities, and others (manufacturing, education, transportation, and logistics).
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Based on region, the market is studied across Asia-Pacific, North America, Europe, and LAMEA. The market across North America dominated the market in 2016, holding for the highest market share terms of revenue, and is expected to lead the trail by the end of 2023. However, the market across Asia-Pacific region is projected to manifest the fastest growth rate during the forecast period.
Leading players of the global mobile BI market analyzed in the research include Microstrategy Incorporated, SAS Institute, Tableau Software, Information Builders Inc., International Business Machines Corporation, SAP SE, Microsoft Corporation, Oracle Corporation, Tibco Software Inc., Yellowfin International Pty. Ltd, and Olik Technologies Inc.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
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