Business Intelligence Managed Services Market Size

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.