Market Note: Analytics and Business Intelligence (ABI)
Analytics and Business Intelligence Platforms Industry Report 2020-2024
2020: The analytics and business intelligence (ABI) market in 2020 was dominated by established players, with Microsoft's Power BI leading the pack. Microsoft demonstrated strong execution ability and vision, scoring 9.0 in both categories. Tableau and Qlik followed closely, with scores of 8.5 and 8.0 respectively, showcasing their robust offerings and market presence. ThoughtSpot emerged as a visionary, scoring 6.5 in execution but 8.0 in vision, indicating its potential for innovation in the ABI space. Other notable players included IBM Cognos Analytics, SAP Analytics Cloud, and Oracle Analytics Cloud, though they lagged behind the leaders in terms of market position.
2021: The landscape saw little change at the top in 2021, with Microsoft further solidifying its leadership position. Power BI's continuous improvements in natural language processing and augmented analytics contributed to its increased scores of 9.5 in both execution and vision. Tableau, now part of Salesforce, maintained its strong position with scores of 8.5, leveraging its integration with Salesforce Einstein Analytics. Qlik held steady, while ThoughtSpot showed improvement in execution, rising to 7.0. Sisense entered the top tier with scores of 6.5 for execution and 7.5 for vision, highlighting its progress in embedded analytics and cloud-native architecture. Google's acquisition of Looker and its integration into the Google Cloud Platform began to make waves in the market.
2022: Microsoft continued to lead in 2022, with Power BI's scores remaining at 9.5 for both execution and vision. The platform's integration with Microsoft 365 and Azure services further strengthened its position. Tableau and Qlik maintained their scores, focusing on improving their cloud offerings and augmented analytics capabilities. ThoughtSpot showed significant progress, increasing its execution score to 7.5, driven by its search-based interface and AI-driven insights. Oracle made a notable comeback, scoring 7.5 for execution and 7.0 for vision, with its Oracle Analytics Cloud gaining traction among enterprise customers. AWS QuickSight began to gain more attention, though it wasn't yet in the top tier.
2023: The year 2023 saw increased competition and innovation in the ABI market. Microsoft's Power BI remained the leader with unchanged scores of 9.5. Tableau and Qlik held their positions, but faced increased pressure from emerging players. ThoughtSpot made a significant leap, scoring 8.0 for execution and 9.0 for vision, driven by its AI-powered analytics and cloud-native architecture. AWS entered the top tier with scores of 7.5 for execution and 7.0 for vision, as QuickSight gained popularity among AWS customers. Tellius emerged as a visionary, scoring 6.5 for execution and 8.0 for vision, with its focus on decision intelligence and augmented analytics.
2024: In 2024, the ABI market showed signs of maturity and consolidation. Microsoft's Power BI maintained its leadership with scores of 9.5, continually enhancing its AI capabilities and integration with Azure services. Tableau and Qlik remained strong contenders, focusing on improving their cloud and embedded analytics offerings. ThoughtSpot continued its upward trajectory, scoring 8.5 for execution and 9.0 for vision, challenging the established leaders with its innovative approach to analytics. AWS improved its position, scoring 8.0 for execution and 7.5 for vision, as QuickSight became more tightly integrated with other AWS services. Oracle maintained its relevance with scores of 7.5 in both categories, appealing to enterprises with its comprehensive cloud suite.
Market Size and Growth Projections
The global Business Intelligence market is estimated to be valued at $32.66 billion in 2024. This market is expected to experience robust growth, with projections indicating it could reach $65.01 billion by 2031. This represents a compound annual growth rate (CAGR) of 10.33% over the seven-year period.
Year-by-Year Breakdown
2024: The market starts at $32.66 billion, setting a strong baseline for future growth.
2025: Expected to grow to $36.03 billion, showing immediate momentum.
2026: Projected to reach $39.76 billion, continuing its upward trajectory.
2027: Anticipated to hit $43.87 billion, marking the halfway point to 2031.
2028: Forecast to grow to $48.40 billion, showing accelerating growth.
2029: Expected to surpass the $50 billion mark, reaching $53.40 billion.
2030: Projected to approach the $60 billion threshold at $58.92 billion.
2031: Forecast to culminate at $65.01 billion, nearly doubling from 2024.
Key Growth Drivers
Several factors are contributing to this substantial market growth:
Increasing adoption of data-driven decision-making across industries.
Growing demand for cloud-based and self-service BI solutions.
Integration of advanced analytics, artificial intelligence, and machine learning into BI platforms.
Expansion of big data and the need for tools to derive actionable insights.
Rising importance of BI in sectors such as BFSI, healthcare, and retail.
Title: 2015-2024 Market
Title: 2024 Market
Biggest Moves
The period under consideration spans from 2015 to 2024, covering a decade of evolution in the Analytics and Business Intelligence (ABI) Platforms market. Over this timeframe, several vendors have made significant moves, reshaping the competitive landscape.
Microsoft, with its Power BI platform, has undoubtedly made the largest and most impactful move over this period. Starting from a relatively modest position in 2015 with scores of 6.5 for Ability to Execute and 7.0 for Vision, Microsoft has surged to the top of the market, achieving and maintaining scores of 9.5 in both categories since 2021. This remarkable ascent can be attributed to Microsoft's aggressive development strategy for Power BI, leveraging its dominant position in the enterprise software market. The seamless integration of Power BI with other Microsoft products, particularly Office 365 and Azure, has been a key driver of its success. Additionally, Microsoft's commitment to frequent updates, user-friendly interfaces, and the incorporation of advanced analytics and AI capabilities has solidified its leadership position.
ThoughtSpot, while not present in the earliest years of our data, has made an impressive entrance and rapid climb in the market. Emerging around 2019 with scores of 6.0 for Ability to Execute and 7.5 for Vision, ThoughtSpot has quickly risen to 8.5 and 9.0 respectively by 2024. This swift ascent can be credited to ThoughtSpot's innovative approach to analytics, particularly its search-based interface and focus on augmented analytics. The company's ability to simplify complex data analysis for non-technical users and its early adoption of AI-driven insights have resonated strongly with the market's evolving needs.
AWS has also made significant strides, particularly in the latter half of the period. Entering the ABI market around 2019 with scores of 6.0 in both categories, AWS has improved to 8.0 for Ability to Execute and 7.5 for Vision by 2024. This movement reflects AWS's strategic push into the analytics space, leveraging its dominant position in cloud services. By offering integrated analytics solutions that work seamlessly with its vast array of cloud services, AWS has capitalized on the increasing shift towards cloud-based analytics platforms.
These major moves in the ABI market over the past decade reflect broader industry trends, including the shift towards cloud-native solutions, the increasing importance of AI and machine learning in analytics, and the growing demand for self-service analytics tools that can be used by business users without extensive technical expertise. The success of these vendors also underscores the importance of ecosystem integration and the ability to handle large-scale, real-time data processing in modern analytics platforms.
Vendors
Microsoft (Power BI)
Microsoft continues to dominate the Analytics and Business Intelligence (ABI) market with Power BI, scoring 9.5 in both Ability to Execute and Vision. Power BI's strengths lie in its seamless integration with other Microsoft products, robust cloud capabilities through Azure, and continuous innovation in AI-driven analytics. Its widespread adoption in enterprises, coupled with its user-friendly interface and powerful data modeling capabilities, solidifies its position as the market leader.
Tableau
Acquired by Salesforce, Tableau maintains its strong position with scores of 8.5 in both categories. Tableau's data visualization capabilities remain industry-leading, and its integration with Salesforce's ecosystem enhances its appeal to enterprise customers. The platform's focus on ease of use, coupled with advanced analytics features, continues to attract a wide range of users from various industries.
Qlik
Qlik scores 8.0 in both Ability to Execute and Vision, reflecting its solid market position. The company's associative analytics engine and strong data integration capabilities set it apart. Qlik's recent focus on augmented analytics and machine learning integration, along with its flexible deployment options, keeps it competitive in the rapidly evolving ABI landscape.
ThoughtSpot
As an emerging leader, ThoughtSpot scores 8.5 in Ability to Execute and 9.0 in Vision. Its search-based interface and AI-driven analytics capabilities have disrupted the traditional BI approach. ThoughtSpot's focus on delivering insights through natural language processing and its cloud-native architecture position it as a forward-thinking vendor in the ABI space.
Sisense
With scores of 7.0 for Ability to Execute and 7.5 for Vision, Sisense has established itself as a strong contender in the ABI market. Its embedded analytics capabilities and focus on cloud-native, AI-driven insights appeal to organizations looking to infuse analytics into their applications and workflows. Sisense's ability to handle complex data models and large datasets contributes to its growing market presence.
Oracle
Oracle's Analytics Cloud scores 7.5 in both categories, reflecting its strong enterprise focus and comprehensive suite of cloud services. The platform's integration with Oracle's database and application ecosystem, coupled with its machine learning capabilities, makes it attractive to existing Oracle customers and large enterprises seeking end-to-end solutions.
AWS
Amazon QuickSight, scoring 8.0 in Ability to Execute and 7.5 in Vision, has gained significant traction in the ABI market. Its seamless integration with AWS services, pay-per-session pricing model, and focus on scalability make it particularly appealing to organizations heavily invested in the AWS ecosystem. QuickSight's machine learning integration and natural language querying capabilities demonstrate AWS's commitment to innovation in this space.
Tellius
As a visionary in the market, Tellius scores 6.5 in Ability to Execute and 8.0 in Vision. Its focus on decision intelligence and augmented analytics sets it apart from traditional BI tools. Tellius's ability to automatically uncover insights and explain the 'why' behind data trends appeals to organizations looking for more advanced, AI-driven analytics capabilities.
IBM
IBM's Cognos Analytics platform scores 7.0 in both categories, reflecting its solid position in the enterprise market. The platform's integration with IBM's broader AI and cloud offerings, along with its robust reporting and dashboarding capabilities, maintains its relevance among large organizations. IBM's focus on augmented analytics and natural language processing keeps it competitive in the evolving ABI landscape.
SAP
SAP Analytics Cloud scores 7.0 in both Ability to Execute and Vision. Its tight integration with SAP's enterprise applications and its ability to provide unified planning, analytical, and predictive capabilities in a single platform appeal to SAP's large customer base. The platform's focus on collaborative analytics and machine learning-driven insights keeps it relevant in the competitive ABI market.
SAS
With scores of 6.5 in both categories, SAS maintains its position as a significant player in the ABI market. SAS's strength lies in its advanced analytics and data science capabilities, making it particularly attractive to organizations with complex analytical needs. Its recent focus on cloud deployments and improved visualizations aims to broaden its appeal beyond its traditional user base.
Looker (Google)
Now part of Google Cloud, Looker scores 7.0 in Ability to Execute and 7.5 in Vision. Its modern, flexible approach to BI, focusing on reusable data models and embedded analytics, has gained traction among data-driven organizations. Looker's integration with Google Cloud Platform and its focus on developer-friendly features contribute to its growing market presence.
Domo
Scoring 6.5 in Ability to Execute and 7.0 in Vision, Domo has carved out a niche with its cloud-native, mobile-first approach to BI. Its strength lies in rapid deployment, ease of use, and strong data connectivity options. Domo's focus on collaborative analytics and its ability to handle large-scale data processing in the cloud contribute to its appeal among organizations seeking agile BI solutions.
MicroStrategy
MicroStrategy scores 6.5 in both categories, reflecting its established position in the enterprise BI market. The platform's strengths lie in its robust security features, scalability, and support for large, complex deployments. MicroStrategy's recent focus on cloud deployments and augmented analytics aims to modernize its offerings while maintaining its appeal to its traditional enterprise customer base.
Yellowfin
With scores of 5.5 in Ability to Execute and 6.0 in Vision, Yellowfin positions itself as a niche player in the ABI market. Its strengths lie in collaborative BI features and storytelling capabilities. Yellowfin's automated insights and alerting functionalities, along with its embedded analytics offerings, appeal to organizations looking for more than traditional reporting and dashboarding.
TIBCO Software
TIBCO Spotfire scores 6.0 in Ability to Execute and 6.5 in Vision. The platform's strength lies in its data visualization capabilities and support for advanced analytics. TIBCO's focus on real-time analytics and its ability to handle complex, streaming data make it particularly attractive to organizations in industries like manufacturing and energy.
Salesforce (Einstein Analytics)
Scoring 7.0 in Ability to Execute and 7.5 in Vision, Salesforce's Einstein Analytics (now part of Tableau CRM) leverages the company's dominant position in the CRM market. Its tight integration with Salesforce's ecosystem and focus on AI-driven insights for sales and service analytics make it a strong choice for existing Salesforce customers looking to enhance their analytical capabilities.
Alteryx
With scores of 6.5 in Ability to Execute and 7.0 in Vision, Alteryx stands out for its focus on data preparation and advanced analytics. Its platform appeals to citizen data scientists and analysts who need to blend, prepare, and analyze complex data from various sources. Alteryx's recent moves towards cloud deployments and expanding its machine learning capabilities aim to broaden its market appeal.
Information Builders
Scoring 5.5 in both categories, Information Builders (now part of TIBCO) maintains its presence in the ABI market with a focus on large-scale, enterprise-grade BI deployments. Its strengths lie in data management capabilities and the ability to handle complex data integration scenarios. The acquisition by TIBCO may lead to changes in its market positioning and product strategy in the coming years.