ASIA-PACIFIC BUSINESS INTELLIGENCE MARKET 2021-2028

ASIA-PACIFIC BUSINESS INTELLIGENCE MARKET 2021-2028

MARKET OUTLOOK

The market for business intelligence in the Asia-Pacific is likely to progress with a CAGR of 11.91% in the forecast years from 2021 to 2028. Japan, India, China, ASEAN countries, South Korea, Australia & New Zealand, and Rest of APAC together constitute the market in this region.

The market in South Korea is fast-growing, with the growing popularity of data analytics. The country’s business community has strongly recognized the value of applying data techniques to business processes. Also, large conglomerates in the nation are looking for best-in-class products from around the globe, and new supportive initiatives by the government are promoting the adoption of such solutions by Korean SMEs. Hence, there is plenty of potential in Korea for the growth of the business intelligence industry.

Australia has a highly-skilled, diverse, innovation-focused workforce across both technology and health sectors, with support from the public as well as private sector entities to improve workforce education on thae digitalization of various sectors. Further, a large number of businesses in the country rely on large-scale data analytics to obtain better insights on their respective business requirements as well as their customers’ behavior. In addition, the rising penetration of connected and integrated technologies is anticipated to boost the demand for BI even further. All these factors will strengthen the Australian market’s growth over the coming years.

COMPETITIVE OUTLOOK

The noteworthy players in the business intelligence market are Tibco Software Inc, Targit AS, International Business Machines Corporation, Oracle Corporation, Informatica, Microsoft Corporation, GoodData Corporation, and SAP SE.