London, Feb. 08, 2023 (GLOBE NEWSWIRE) -- Embedded business analytics software creates a sense of a business landscape and thus helps in smoother decision-making conclusions. This is a major aspect expected to lead to exponential growth for the embedded business intelligence market in the coming years. Business intelligence is the integration of dashboards, reports, and data visualization within an application. Information is ideally displayed and managed through a BI platform and is inserted directly into an application’s user interface to improve decision-making, and data usability. It gives users a richer context, and fresh information within operational applications they are familiar with. Moreover, the steady adoption of these dashboards and visualization solutions in the cloud creates a scalable and cost-effective approach to data analysis for several companies.
A new upcoming report of Fairfield Market Research would offer valued insights into the growth analysis and forecast of the global embedded business intelligence market in near term. The report highlights continued use of traditional business intelligence approaches or solutions has posed a threat to the implementation and adoption of embedded analytics, prescriptive analytics, and predictive analytics by certain organizations. This could act as a restraining element for the growth of the embedded business intelligence market.
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Insights into Segmental Analysis
The steady adoption of various advanced technologies and tools in the BFSI sector due to increasing levels of digitization is expected to act as a major contributor to growth in the embedded business intelligence market. These solutions aid financial institutions in making better operational and financial decisions. The reliance on data continues to increase owing to technologies such as ML, AI, and IoT is expected to lead to a higher demand for business intelligence tools. The further expansion of BFSI sector is due to a host of factors such as the increased adoption rates of cloud BI solutions by small and medium enterprises, improved tool efficiency, as well as a greater adoption of business analytics. On the other hand, while the importance and benefits are many, the initial cost incurred when purchasing suitable BI software, its further implementation within an organization, as well as the subsequent training of employees are relatively high. This is a major element that could potentially hinder the revenue growth of the global embedded business intelligence market as it restricts adoption among small and mid-sized organizations.
Insights into Regional Analysis
Although North America’s embedded business intelligence market accounted for the highest market share in 2020 owing to the sheer number of industry players that operate and are headquartered in this region, the market of Asia Pacific is projected to exhibit the fastest growth over the course of the forecast period. This can be attributed to the increasing adoption of advanced technologies as well as the commercialization of IoT in this region, particularly in China, India, and Japan. Moreover, the growing demand for IoT and big data solutions is another factor that is slated to further contribute to the expansion of this regional embedded business intelligence market. The market in Asia Pacific will thus index the highest CAGR throughout the end of forecast period, estimates the report.
Key Industry Players
Notable players in the embedded business intelligence market include Birst Inc., International Business Machines Corporation, Information Builders, Logi Analytics, Microsoft Corporation, Sap SE Microstrategy Inc., OpenText Corporation, Qlik Technologies, and Tibco (the information bus company) Software Inc.
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Global Embedded Business Intelligence Market is Segmented as Below:
By Deployment Mode
- On-premise
- Cloud-based
By Service
- Professional services
- Support services
By Industry Vertical
- Banking, financial services, and insurance
- It & telecom
- Public sector
- Manufacturing
- Retail
- Healthcare
- Energy & utilities
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- France
- Germany
- Russia
- Rest of Europe
- Asia Pacific
- Japan
- South Korea
- India
- China
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Report Inclusions
- Market Estimates and Forecast
- Market Dynamics
- Industry Trends
- Competition Landscape
- Service-Wise Analysis
- Deployment Mode-Wise Analysis
- Industry Vertical-Wise Analysis
- Region-Wise Analysis
- Country-Wise Analysis
- Key Trends Analysis
- COVID-19 Impact Analysis
Learn More About the Report Inclusions, and Research Methodology: https://www.fairfieldmarketresearch.com/report/embedded-business-intelligence-market/more-information
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