Mobile Business Intelligence Market - Growth, Trends, COVID-19 Impact, and Forec

Posted by Statzy Market Research on May 13th, 2021

In the present scenario, devices with advanced capabilities, such as AI and ML, are emerging across industries, representing the latest wave of rapid progress. These technologies are redefining the way businesses work, enabling machines to do things that were possible by humans only. Data visualization tools have been increasingly used for analytics in various organizations, over the years. They are used for designing infographics and charts, as well as building BI dashboards and performance scorecards. These charts and dashboards display visualized data on business metrics and key performance indicators in an easily understandable way.

- With the emergence of big data and the increasing need to make critical business decisions within a compressed timeframe, the business intelligence (BI) and analytics tools have gained a substantial market share in the past decade. This trend is expected to increase steadily, along with the advancement of technology and growing investments, during the forecast period.

- The ongoing trend of increasing acceptance of BYOD in enterprises is expected to enhance productivity and employee satisfaction while reducing hardware costs for large and small enterprises. Further, the integration of IoT that allows mobile devices to communicate, analyze, and share data via cloud-based software platforms and networks is anticipated to drive the market growth.

- Furthermore, with massive growth in the amount of data generation, companies have started deploying BI tools to get hold of enormous data sets, with higher volumes and varieties, and get deeper insights from the data. The resulting information can be used for various functions in an organization, from marketing and sales to supply chain and finance.

- It is estimated that mobile devices are responsible for over 72% of internet traffic, and it is growing at a rapid pace. This is attracting many end-user industries, especially the retail sector, to make mobile devices a major platform for their operations.

- The retail sector, especially e-commerce operations, is expected to be the primary source of demand for mobile analytics solutions closely followed by the banking sector. Increasing demand for automation in the BFSI sector and the e-commerce companies' efforts to create personalized shopping experience are expected to draw huge revenues to the mobile BI market globally.

- Moreover, there is a substantial increase in the need for data analytics and data visualization tools. For instance, according to the IBM Quant Crunch, up to 2.72 million jobs, which require data science skills, are likely to be posted by 2020, making it one of the highest-demanded roles across industries.

- The COVID-19 pandemic has resulted in a shift in working patterns, driving demand from enterprises to equip remote workers with resources they need, to be productive on mobile devices. Thus the market will expereince significant growth in the future due to the pandemic caused by an exponential usage of smartphones and tablets.

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Key Market Trends

Large Enterprises to Drive the Market Growth

- The advent of technologies and tools, like business intelligence and data analytics, has invariably helped large enterprises reflect all required regulations and stay competitive while attending to today’s modern customers' digital needs. These solutions aid these institutions in making smarter decisions, both financially and operationally.

- With technologies, such as AI, ML, and IoT, the dependency on data continues to rise, leading to a rise in the demand for mobile BI tools. They help enhance the operations for large enterprises, majorly in industries like banking and financial, retail, healthcare, and by identifying, analyzing, addressing, and resolving issues in real-time. Large Telecommunication companies rely heavily on a good mobile analytics strategy for the success of their companies, as all respondents from this sector regarded it as important.

- The growth in the adoption of mobile BI by large enterprises in the BFSI sector can be attributed to numerous factors, such as the growing adoption of data analytics, an increase in mobile data generation, proliferation of mobile devices and apps, and the improved efficiency of BI tools. Collaborations in the space have further provided the required impetus for driving the demand for market growth.

- For instance, SimCorp, a key player in investment management solutions, collaborated with Qlik, a provider of data analytics platform and user-driven Business Intelligence (BI), to procure Qlik's advanced BI and analytics platform for mobile named Qlik Sense Mobile. The data is likely to be embedded in SimCorp's Data Warehouse, providing SimCorp clients with fast insights into their investment management operations, portfolio analytics, and performance management.

- Coca-Cola, whose market capitalization as of September 2020 is USD 215.59 billion, generated tons of data from different systems earlier and found it challenging to keep a record of the daily reports. In such regard, the company had deployed the analytical tool Tableau for the mobile for their salespeople. Such as move has enabled their salespeople to get timely updates and save the majority of the time wasted in analyzing figures. They were also able to update the data from their end with just a click.

North America to Account for the Largest Share

- North America is a major player in the development and implementation of new technologies. It has a vibrant big-data and business analytics-oriented startups with having a high dominance in the ICT industry due to the presence of large corporations like Apple, Facebook, IBM, and Google. Moreover, North America is rated as the top contributor in the mobile analytics market due to its technological acceptability and high level of consumer use than other developed markets.

- The healthcare industry in the United States is growing at a rapid pace as initiatives taken by the government with various tools for the healthcare sector are expected to drive the growth of big data analytics and cloud base deployment. According to the US Department of Health and Human Services, in 2000, expenditure on health services and supplies amounted to some 1.4 trillion U.S. dollars. In 2020, the figure stood at some 2.6 billion U.S. dollars.

- Moreover, the United States government also actively implementing mobile BI solutions across its organizations. The companies are also investing significantly in developing suitable solutions. Last year, Amazon launched Amazon Pinpoint Service, which help in measuring app usage and revenue. In addition, Pinpoint extends this capability by making it easy to run targeted campaigns to drive user engagement in mobile apps, which is helping in growing the market.

Competitive Landscape

The mobile business intelligence market is highly competitive, as it is characterized by several global and local players. They are emphasizing on R&D activities related to mobile analytics. Global players are emphasized on creating simplified, self-service tools that can derive quick insights with improved user engagement. Key players in the market are IBM Corporation, Microsoft Corporation, SAP SE, etc. Recent developments in the market are -

- Sep 2020 - Pyramid Analytics, an analytics platform built for the enterprise, announced its official SAP BW 7.5 and BW 4/HANA certifications that validate the company’s high-performance business intelligence capabilities on SAP, in addition to supporting customers that use SAP’s data warehouse technologies.

- January 2019 - MicroStrategy Incorporated, a leading worldwide provider of enterprise analytics and mobility software announced the industry’s first and only enterprise platform for HyperIntelligence, transformational mobility, and federated analytics. It will transform the way users access the information needed to make countless decisions every moment throughout the day and organizations can inject information directly into a user’s web-based workflows using a HyperCardTM feature.

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