Key Takeaways:
- $59.7 billion in projected spend on Business Intelligence software in the next 12 months.
- 44% of spend on BI software comes from the AMER region.
- 54% of spend on BI solutions comes from companies with revenue of $5 billion or more.
- Finance & Insurance, Manufacturing, and Public Administration spend the most in the Business Intelligence market.
As organizations seek advanced tools to make data-driven decisions, the Business Intelligence (BI) market is growing around the world. According to HG’s data, companies will spend $59.7 billion globally on BI software in the next 12 months. Approximately 70% of that spend is associated with the 587,000 companies with validated HG detections. Due to the increasing demand for BI solutions, HG Insights wanted to dive deeper into this exciting tech sector.
Business Intelligence covers the software applications used for data analysis, visualization, reporting, advanced analytics, and more. BI tools can be sold as on-premises software (i.e. via license or subscription) or as cloud-based solutions (i.e. SaaS). BI solutions help companies turn their data into actionable insights that improve decision-making and give them a competitive edge.
This report provides HG’s research on the Business Intelligence market and covers global spending, leading vendors, solutions, and buyer profiles. The data was uncovered with the HG Market Intelligence Platform and will help you identify your distinct opportunities in the Business Intelligence software market.
The Business Intelligence Market Size
According to HG’s data, the total Business Intelligence market size (the total spend on Business Intelligence platforms) is projected to reach $59.7 billion by 2025. Out of the 4.3 million companies in the HG database, our data analysis identifies 587,000 companies deploying BI solutions (this data includes only businesses with registered addresses).
Total Spend on Business Intelligence Software by Region
Source: This data was uncovered with HG Market Intelligence and includes only businesses with registered addresses
This chart shows the proportion of Business Intelligence spend (dark blue) to total IT spend (light blue) in each region.
Out of the three global regions, AMER (North, Central, and South America) spends the most on Business Intelligence solutions, accounting for 44% of spending. APAC (Asia Pacific) accounts for 32% of global spend and 24% comes from EMEA (Europe, Middle East, and Africa).
Top 10 Countries for Business Intelligence Software Spend
| Country | Total Spend ($) | Total Companies | |
|---|---|---|---|
| United State of America | $22.7bn | 38.08% | 1,972,264 |
| China | $7.7bn | 12.95% | 127,760 |
| Japan | $4bn | 6.77% | 92,643 |
| United Kingdom of Great Britain | $2.8bn | 4.78% | 299,362 |
| Germany | $2.3bn | 3.92% | 189,883 |
| India | $1.9bn | 3.22% | 134,630 |
| Canada | $1.6bn | 2.68% | 176,727 |
| Korea | $1.4bn | 2.32% | 30,443 |
| France | $1.2bn | 2.09% | 106,935 |
| Netherlands | $1.2bn | 2.02% | 75,917 |
Source: This data was uncovered with HG Market Intelligence and includes only businesses with registered addresses
According to HG’s data, nearly 2 million companies in the United States spend $22.7 billion on BI solutions, accounting for 38% of the total Business Intelligence market size. Other key markets include China, Japan, and the United Kingdom, making up 13%, 6.8%, and 4.8% of global spend, respectively.
Business Intelligence Software Market Share
Several key players are vying for customers in the Business Intelligence market. These vendors range from the cloud giants (e.g. Microsoft and Google) to successful vertical players like Tableau. This section explores the leading vendors and products in the global Business Intelligence market in 2024.
Leading Vendors in the Business Intelligence Market
Source: This data was uncovered with HG Market Intelligence and includes only businesses with registered addresses
The Business Intelligence market differs from some other markets for cloud-based solutions, with no one vendor completely dominating the market. This chart shows the 10 leading vendors by company installs. Please note that the HG Insights Market Intelligence Platform includes only businesses with registered addresses in its data analysis. Key playes include
Microsoft, the maker of Power BI, is the top vendor in terms of the number of installs with 234,200 companies. Out of the 10 vendors listed, the key players include Power BI, capturing 17% of the relative market share, and Tableau coming in second at 13%.
The Top 10 Business Intelligence Solutions
Source: This data was uncovered with HG Market Intelligence and includes only businesses with registered addresses
Here are the 10 leading products in the Business Intelligence software market, with Microsoft’s Power BI and Tableau taking the lead. HG Insights tracks 222,900 and 178,600 companies using the products, respectively.
Other key players – aside from R Project, which is open source – include Hotjar, Apache Spark, and additional Microsoft products like SQL Server and Power Platform.
Want to learn more about leading providers and products in other verticals? Check out our market reports here →
Buyer Landscape of the Business Intelligence Market
Due to the increasing number of BI tools and vendors on the market – and the capabilities offered by these solutions – the number of buyers continues to expand, offering greater opportunities for sellers in the BI space (or complementary categories). This section digs deeper into buying trends within the Business Intelligence market. More specifically, into the number of buyers, classified by industry and company size, and how much they’re spending on BI software.
Business Intelligence Market Revenue by Company Size
| Buyer Revenue Range | Total Spend ($) | Total Companies |
|---|---|---|
| $5bn and above | $31,986,552,693 | 5,847 |
| $1bn to $5bn | $10,218,219,827 | 20,449 |
| $500m to $1bn | $4,275,586,465 | 25,558 |
| $200m to $500m | $5,119,466,057 | 62,851 |
| $100m to $200m | $3,596,782,978 | 93,666 |
| $50m to $100m | $2,831,194,870 | 178,884 |
| $10m to $50m | $1,278,776,024 | 718,112 |
| $1m to $10m | $161,435,591 | 2,106,278 |
| Less than $1m | $10,793,104 | 625,587 |
Source: This data was uncovered with HG Market Intelligence and includes only businesses with registered addresses
Companies in the $5 billion and above revenue tier make up more than half (54%) of the total Business Intelligence market size. However, only about 5,800 buyers fall in this revenue tier.
Over one-quarter (27%) of spending on Business Intelligence software – a tier worth $15.8 billion – comes from 361,000 companies with revenue between $50 million and $1 billion.
Business Intelligence Software Spend by Industry
| Industry | Total Spend ($) | Total Companies |
|---|---|---|
| Finance and Insurance | $15,991,376,921 | 226,836 |
| Manufacturing | $10,858,775,447 | 490,640 |
| Public Administration | $9,931,377,348 | 123,226 |
| Professional, Scientific, and Technical Services | $4,479,721,407 | 856,937 |
| Health Care and Social Assistance | $3,409,997,363 | 207,555 |
| Information | $2,752,083,546 | 284,163 |
| Transportation and Warehousing | $2,040,951,808 | 86,709 |
| Educational Services | $1,923,189,003 | 148,791 |
| Wholesale Trade | $1,880,977,479 | 202,081 |
| Retail Trade | $1,843,153,434 | 246,094 |
| Utilities | $1,508,419,590 | 28,959 |
| Administrative and Support and Waste Management and Remediation Services | $816,110,323 | 170,351 |
| Mining, Quarrying, and Oil and Gas Extraction | $761,692,735 | 23,072 |
| Construction | $583,965,551 | 207,283 |
| Real Estate and Rental and Leasing | $314,557,527 | 111,271 |
| Arts, Entertainment, and Recreation | $242,218,261 | 100,233 |
| Accommodation and Food Services | $186,328,614 | 90,357 |
| Other Services (except Public Administration) | $84,586,191 | 210,031 |
| Agriculture, Forestry, Fishing and Hunting | $52,536,386 | 21,648 |
| Management of Companies and Enterprises | $3,230,395 | 2,589 |
Source: This data was uncovered with HG Market Intelligence and includes only businesses with registered addresses
According to HG data, the Finance & Insurance, Manufacturing, and Public Administration sectors spend the most on BI software, accounting for 62% of the overall spend. The Finance & Insurance and Public Administration industries both have high spend ($16 billion and $9.9 billion, respectively) paired with a relatively low number of buyers (226,800 and 123,200), which indicates a high average spend per company.
Meanwhile, the Manufacturing sector spends nearly $10.9 billion on BI solutions – the second highest of any industry – but this is spread across 490,600 buyers. In terms of the number of companies, only the Professional, Scientific, & Technical Services sector has more buyers, with 856,900.
Business Intelligence Software Spend by Industry and Company Size
Source: This data was uncovered with HG Market Intelligence and includes only businesses with registered addresses
This chart shows spending within the BI software market by industry and company size (number of employees). Across most industries, larger companies (by number of employees) account for the highest spending. But there are some interesting deviations from this trend: for example, midsize companies in both Wholesale Trade and Educational Services are also investing heavily in BI solutions.
Uncover Business Intelligence Opportunities with HG Insights
HG Insights is an award-winning market intelligence provider that enables go-to-market (GTM) teams to drill down into the size, shape, and structure of their target markets. HG’s data helps businesses analyze vendor penetration, size markets, identify accounts matching an ICP, uncover white space opportunities, and prioritize the best-fit accounts to shorten sales cycles.
In this step-by-step video, Enterprise Account Director Kevin Scott showcases how one of his customers leveraged HG Insights’ Technology Intelligence to uncover a $200M opportunity in the Business Intelligence market:
The HG Market Intelligence platform enables users to filter companies by their usage of different products, offering segment analyses at a global level as well as drilled down by IT spend, firmographic filters, IT spend budget, tech installs, and more. Request a free data sample to see your ICP accounts and spot opportunities in the Business Intelligence market.
