Business Intelligence (BI) Managed Services Market size was valued at USD 6.35 billion in 2023 and is likely to reach USD 15.68 billion by 2036, registering around 7.2% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of business intelligence managed services is estimated at USD 6.72 billion. The growth of the market can be attributed primarily to the growing demand for secure IT infrastructure, resulting from rise in cybersecurity breaches, among various industry verticals, namely manufacturing, retail and BFSI. In 2018, more than 812 million malware infection attacks occurred around the world, up from about 702 million attacks in the year 2017.
Along with this, increasing demand for outsourced management functions from providers of cloud services and managed services as a result of lower costs associated with these infrastructures, is also expected to boost the market growth in the near future. Furthermore, rapid rise in the adoption of IoT, big data analytics and cloud across organizations pertaining to their digital transformation strategy, is a crucial factor projected to provide lucrative opportunities for market growth in the near future.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
7.2% |
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Base Year Market Size (2023) |
USD 6.35 billion |
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Forecast Year Market Size (2036) |
USD 15.68 billion |
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Regional Scope |
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The market is segmented by end user into BFSI, IT and telecommunication, healthcare, entertainment and media, retail, manufacturing, government, and others, out of which, the manufacturing segment is anticipated to hold the largest share in the global business intelligence (BI) managed services market. This can be accounted to the growing adoption of sensors and connected devices, coupled with the upsurge in data points generated in this industry in view of rising deployment of M2M communication. Apart from these, high adoption of industry 4.0 concept in production establishments in the manufacturing sector is also predicted to propel the growth of the business intelligence (BI) managed services market segment in the imminent time. Additionally, on the basis of deployment, the on-premise segment is assessed to acquire the largest share during the forecast period. On-premise implementation allows enterprises to hand over the entire system management to experts, whilst ensuring availability of existing data center investments and ensuring maximum performance, which in turn is evaluated to boost the segment growth in the coming years.
Our in-depth analysis of the global business intelligence (BI) managed services market includes the following segments
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By Deployment |
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By Enterprise Size |
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By End User |
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On the basis of geographical analysis, the global business intelligence (BI) managed services market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. Asia Pacific industry is likely to account for largest revenue share by 2036, on account of surge in need for improved productivity at workplaces, and rising demand for managed services as a result of growing range of technology and business challenges. In addition, increasing adoption of advanced technologies such as ML, AI and IoT is also expected to boost the region’s market growth in the near future. For instance, India observed the highest surge in AI use compared to major economies such as Britain, Japan and the United States in 2020. More than 70 percent organizations in the country implemented AI in some functional areas that year.
Moreover, the market in North America is predicted to grab the largest share during the forecast period attributing to the early adoption of advanced technology, and strong presence of prominent market players in the region.
September 2021- Fujitsu Ltd and Nippon Yusen Kabushiki Kaisha announced the introduction of Fujitsu’s quantum-inspired digital annealer technology for streamlining stowage planning for car carriers.
June 2021- Cisco Systems, Inc. declared that it will make changes to its partner program structure, aimed at helping partners to improve their target life-cycle and Everything-as-a-Service opportunities.
Author Credits: Abhishek Verma
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