Technology

Business Intelligence Market to Grow by USD 20.3 Million from 2024-2028, as Mergers and Acquisitions Drive Revenue with AI Redefining Market Landscape – Technavio

Published

2 weeks ago

November 8, 2024

NEW YORK, Nov. 8, 2024 /PRNewswire/ — Report with market evolution powered by AI – The global business intelligence (BI) market size is estimated to grow by USD 20.3 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 8.84% during the forecast period. Increasing mergers and acquisitions is driving market growth, with a trend towards advanced analytical tools. However, rising concern for data privacy poses a challenge.Key market players include Amazon.com Inc., Arbela Technologies Corp., GS Topco GP LLC, Hitachi Ltd., Idera Inc., InetSoft Technology Corp., International Business Machines Corp., Microsoft Corp., MicroStrategy Inc., Oracle Corp., Palantir Technologies Inc., Panorama Software Inc., QlikTech international AB, Salesforce Inc., SAP SE, SAS Institute Inc., ScienceSoft USA Corp., Sisense Ltd., TARGIT AS, and TIBCO Software Inc..

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Forecast period

2024-2028

Base Year

2023

Historic Data

2017 – 2021

Segment Covered

End-user (BFSI, Healthcare, ICT, Government, and Others), Deployment (On-premises and Cloud), and Geography (North America, APAC, Europe, Middle East and Africa, and South America)

Region Covered

North America, APAC, Europe, Middle East and Africa, and South America

Key companies profiled

Amazon.com Inc., Arbela Technologies Corp., GS Topco GP LLC, Hitachi Ltd., Idera Inc., InetSoft Technology Corp., International Business Machines Corp., Microsoft Corp., MicroStrategy Inc., Oracle Corp., Palantir Technologies Inc., Panorama Software Inc., QlikTech international AB, Salesforce Inc., SAP SE, SAS Institute Inc., ScienceSoft USA Corp., Sisense Ltd., TARGIT AS, and TIBCO Software Inc.

Key Market Trends Fueling Growth

The Business Intelligence (BI) market is witnessing an upward trend with the adoption of advanced analytics solutions. These technologies enable businesses to analyze data from various sources, providing valuable insights into consumer behavior. Predictive analytical tools are a crucial component, using sophisticated mathematical and statistical techniques to make accurate predictions and forecasts. This aids in effective project management by connecting multiple projects and applications. Employing predictive portfolio analysis techniques helps businesses choose the most profitable projects. Predictive analytics tools adapt to changing business dynamics, such as consumer demand and market strategies, ensuring business success. The use of these advanced tools is anticipated to significantly contribute to the expansion of the global BI market.

Business Intelligence (BI) market is thriving with trends like predictive and adaptive analytics, business automation, and digital transformation. R&D efforts are focused on advanced analytics, continuous intelligence, real-time analytics, and augmented analytics. The retail sector is a significant adopter, with acquisitions, collaborations, and mergers shaping the landscape. CCS Presentation Systems, Rackspace Technology, GoodData, Amazon Web Services, and Microsoft are key players. Cloud transition, security, scalability, and productivity are top priorities. API-first design and modern data stacks are shaping the new BI landscape. Local laws and compliance regulations demand attention. Power BI, Dynamics 365, Microsoft Azure, and Amazon Web Services lead the way in providing cloud analytics platforms. IoT, AI, and ML are integral to data quality and strategic decision-making.

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Market Challenges

Business Intelligence (BI) and analytics systems play a crucial role in organizations by transforming data into valuable insights for informed decision-making. However, the integration of numerous systems and data silos for data harvesting poses significant challenges, particularly in ensuring data security and privacy. A predictive model’s access to confidential information increases the risk of security breaches, which could lead to brand damage, costly lawsuits, and insurance claims. Technical issues, such as bugs and interoperability failures, can also cause system downtime, negatively impacting business operations and brand value. Therefore, addressing data security and privacy concerns will be essential for the global BI market’s growth during the forecast period.Business Intelligence (BI) market is growing rapidly as organizations seek to make strategic decisions based on data. Digital transformation is driving the need for Intelligent Planning and advanced analytics, including Power BI, Dynamics 365, and Microsoft Azure. Real-time analytics, continuous intelligence, and augmented analytics are key trends. IoT, AI, and Machine Learning are transforming data into actionable insights. Data quality is crucial for accurate results, and third-party data sources add value. BI platforms require consulting, deployment, integration, and ongoing support. Cloud deployment is popular, but on-premise remains an option. Industries like Healthcare, Banking, and Retail are investing in BI tools for data visualization, text mining, predictive analytics, and statistical analysis. Big data analytics and cloud-based business solutions are essential for small and medium-sized organizations. BI infrastructure is crucial for digitization, and emerging technologies like Blockchain, Biometrics, and Predictive Maintenance are shaping the future of BI.

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Segment Overview

This business intelligence (bi) market report extensively covers market segmentation by

End-user 1.1 BFSI1.2 Healthcare1.3 ICT1.4 Government1.5 OthersDeployment 2.1 On-premises2.2 CloudGeography 3.1 North America3.2 APAC3.3 Europe3.4 Middle East and Africa3.5 South America

1.1 BFSI- The BFSI sector has experienced significant advancements due to digitalization, with tech giants like Google, Amazon, and Paytm entering the financial industry. Leveraging their vast user bases and partnerships with banks, these companies have integrated API payment solutions across their services, gaining a competitive edge. The data generation from various technologies necessitates the use of tools like Business Intelligence (BI) and data analytics. These solutions enable smarter decisions in finance and operations for financial institutions, ensuring regulatory compliance and meeting customer needs. Market growth is anticipated during the forecast period as a result.

Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2017 – 2021)

Research Analysis

Business Intelligence (BI) is a technology-driven process that transforms raw data into valuable insights for strategic decision-making. It enables organizations to make informed decisions in real-time through intelligent planning and advanced analytics. Digital transformation has led to the increasing adoption of BI solutions, such as Power BI, Dynamics 365, and Microsoft Azure. These platforms offer continuous intelligence, real-time analytics, and augmented analytics, allowing businesses to gain insights from various data sources, including IoT and third-party data. BI platforms provide analytical applications, management, consulting, deployment, integration, support, and maintenance, ensuring data quality and enabling seamless data flow. Cloud deployment and on-premise deployment options cater to different business needs. AI, Machine Learning, and Data Quality are essential components of modern BI systems, providing advanced analytics capabilities and improving decision-making accuracy.

Market Research Overview

Business Intelligence (BI) is a technology-driven practice that transforms raw data into meaningful and useful insights for strategic decision-making. Digital transformation is driving the adoption of BI, enabling intelligent planning and advanced analytics through Power BI, Dynamics 365, and Microsoft Azure. BI platforms offer continuous intelligence, real-time analytics, and augmented analytics, integrating data from IoT, AI, ML, and third-party sources. Key areas of focus include data quality, data visualization tools, text mining, predictive analytics, and statistical analysis. Big data and cloud-based business solutions cater to small and medium-sized organizations, while healthcare, banking, and retail sectors benefit from BI infrastructure and digitization. Investment levels in BI are on the rise, fueled by the need for scalability, productivity, and security. Cloud deployment and on-premise deployment options are available, with consulting and advisory services from Rackspace Technology, GoodData, Amazon Web Services, and others ensuring seamless deployment, integration, and maintenance. R&D efforts in BI are ongoing, with emerging trends including blockchain, biometrics, predictive and adaptive analytics, business automation, and API-first design. Data proliferation necessitates compliance with local laws and regulations.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

End-userBFSIHealthcareICTGovernmentOthersDeploymentOn-premisesCloudGeographyNorth AmericaAPACEuropeMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

Technology

Bernard Looney Appointed Chairman of the Board of Directors at Prometheus Hyperscale

Published

5 hours ago

November 24, 2024

Global energy executive joins Prometheus Hyperscale to accelerate sustainable data center growth and provide strategic counsel on $10B flagship project in Evanston, Wyoming

HOUSTON, Nov. 24, 2024 /PRNewswire/ — Prometheus Hyperscale, a leading developer of sustainable hyperscale data centres, is delighted to announce the appointment of Bernard Looney as Chairman of the Board of Directors.

Mr. Looney, former CEO of BP, brings to the role more than three decades of energy sector expertise – from the frontline to the boardroom. He will provide strategic guidance on the development of the company’s growth plans, including its $10B flagship data center in Evanston, Wyoming, which will be among the largest facilities of its kind in the world when completed.

The announcement of Mr. Looney’s appointment comes as societies and large technology companies grapple with how to power the explosive growth in artificial intelligence (AI). The International Energy Agency (IEA) estimates that by 2026 data centers globally will use over 1,000 terawatt-hours (TWh) annually, around the same as Japan uses today. Against this backdrop of soaring demand and squeezed supply, Prometheus is pioneering new standards in hyperscale data center operations.

These approaches include harnessing a variety of energy sources to power its data centers, including renewables, natural gas and possibly nuclear at a later date through our strategic partnership with Oklo. Prometheus aims for its data centers to not impact grid customers.

Another key challenge is the enormous amount of power and water used to cool data centers to prevent the servers from overheating. Prometheus Hyperscale uses a unique liquid cooling system that dramatically outperforms traditional air-cooling methods, reducing energy consumption by up to 50%. This system also utilises deep underground water reservoirs and captures the waste heat to reuse or sequester it. It’s believed that Prometheus Hyperscale’s flagship project will be the first hyperscale data center in the United States to combine liquid heat transfer and heat reuse technologies.

Founded by Trenton Thornock, an experienced leader in energy, finance and infrastructure, Prometheus Hyperscale’s flagship project in Evanston, Wyoming, promises to be the most advanced sustainable data center in the United States, and one of the largest in the world, when it becomes operational in 2025/26. The 1GW-capacity developed site will cover an area of 640-acres (one square mile), making it approximately three quarters the size of New York’s Central Park. Four further sites are currently earmarked across Arizona and Colorado.

As Chairman, Mr. Looney will ensure the successful execution of Evanston as well as Prometheus’s broader business goals. His appointment comes following the recent announcement that Trevor Neilson, a renowned climate technology entrepreneur and philanthropist, will serve as the company’s President.

It’s estimated that $1 trillion will be invested in the U.S. in data centers in the next five years – with an additional $1 trillion internationally.

Trenton Thornock, Founder and CEO of Prometheus Hyperscale commented: “Having Bernard Looney join as Chairman is a tremendous step forward for Prometheus. Bernard’s track record and transformative leadership in the energy sector aligns perfectly with our vision for the future of data centers. His insights, as well as his extensive operational and project delivery experience, will be invaluable as we bring our flagship project in Evanston, Wyoming to life and set new benchmarks for sustainable digital infrastructure.”

Trevor Neilson, President of Prometheus Hyperscale, commented: “Bernard is the perfect person to guide Prometheus as we form partnerships across the energy sector to access low-carbon electrons that will power the future of AI. His extensive industry experience and leadership will be instrumental as Prometheus establishes itself at the forefront of sustainable data center operations.”

Bernard Looney commented: “I am delighted to join Prometheus Hyperscale at this pivotal moment as the world grapples with the intersection of AI, Energy and Sustainability. Innovative power solutions are desperately needed to ensure that AI is unleashed to tackle some of the biggest global challenges including healthcare, economic growth, and the energy transition. We must work to find solutions that lead to Net Positive AI – where the benefits to our world outweigh any costs. The flagship Evanston project is one such solution and I look forward to lending a helping hand, working alongside Trenton, Trevor, and the entire Prometheus team to help bring this vision to life. I can’t imagine a more exciting challenge.”

Factsheet: Prometheus Hyperscale’s Flagship Project in Evanston, Wyoming

Prometheus’s site in Evanston, Wyoming, aims to redefine sustainable infrastructure in the data center industry, setting a new benchmark for operational excellence and environmental responsibility.

Key aspects of the project include:

Extensive Land and Power Capacity: The project encompasses a 12,000-acre ranch, including a dedicated 640-acre plot (about 1 square mile) for data center facilities. Prometheus has secured an initial 120 MW of grid power through Rocky Mountain Power, with plans for an additional 120 MW, ensuring robust power availability without curtailment risks.

On-Site Renewable and Low-Carbon Power Generation: With an on-site generation goal of over 1 GW, which will make it one of the largest data centers in the world, Prometheus is incorporating a mix of wind, solar and gas power sources. Additionally, the company has a strategic partnership with Oklo focused on next-generation fission-based nuclear power, delivering reliable, sustainable baseload energy to the campus.

High-Performance Fiber Connectivity: The Evanston site will connect directly to the Northern transcontinental fiber trunk, offering high-speed, low-latency connections between the East and West Coasts. With agreements for up to 400G of service and plans to scale up to 800G when commercially available, the project is poised to meet the rigorous connectivity needs of AI, cloud, and high-performance computing clients and to be one of the biggest data centers in the world.

Cutting-Edge Liquid Cooling Technology: Prometheus’s unique liquid cooling systems will be deployed to achieve unparalleled energy efficiency by capturing and reusing waste heat. This innovative solution is specifically engineered for high-performance computing environments and will play a critical role in reducing the carbon footprint of the facility.

Strategic Location and Access to Skilled Labor: Located 80 miles from Salt Lake City, Utah, the Evanston site benefits from proximity to a large, skilled workforce, bolstered by a regional Journeyman Lineman program focused on data center operations. This strategic location supports the project’s operational and expansion goals while reinforcing Prometheus’s commitment to regional economic growth.

For more information about Prometheus Hyperscale and its sustainability initiatives, please visit www.prometheushyperscale.com.

About Prometheus Hyperscale

Prometheus Hyperscale, founded by Trenton Thornock, is revolutionizing data center infrastructure by developing sustainable, energy-efficient hyperscale data centers. Leveraging unique, cutting-edge technology and working alongside strategic partners, Prometheus is building next-generation, liquid-cooled hyperscale data centers powered by cleaner energy. With a focus on innovation, scalability, and environmental stewardship, Prometheus Hyperscale is redefining the data center industry for a sustainable future.

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SOURCE Prometheus Hyperscale

Technology

Sixth Avenue Custom Millwork Launches Revamped Website to Enhance Client Experience

Published

5 hours ago

November 24, 2024

Sixth Avenue Custom, a premier provider of custom millwork services for both home and business owners, has launched a revamped website designed to offer a more streamlined user experience, showcasing their custom woodworking and millwork services.

FREDERICK, Md., Nov. 24, 2024 /PRNewswire-PRWeb/ — Sixth Avenue Custom, a leading provider of custom millwork services, has unveiled its newly revamped website aimed at enhancing user experience and better showcasing its wide array of woodworking services. The updated website highlights the company’s dedication to creating high-quality custom cabinetry, millwork, and architectural details for residential and commercial clients while offering a modern, easy-to-navigate platform for users. As an industry leader in bespoke craftsmanship, Sixth Avenue Custom’s redesigned site now makes it even easier for potential clients to engage with their work.

Sixth Avenue Custom, a leading provider of custom millwork services, has unveiled its newly revamped website aimed at enhancing user experience and better showcasing its wide array of woodworking services.

Six generations ago, Ezra Beachley began crafting high-quality furniture with unmatched precision and care. Now, his great, great, great grandson Ryan Beachley carries that same ethos forward with Sixth Avenue Custom, a company set on maintaining tradition while embracing the future. “Our model and process is not the ordinary way of doing things. It’s unique, it’s custom, it’s the Sixth Avenue Custom way,” said Ryan. This philosophy of blending old-world craftsmanship with modern tools and technologies is front and center on the newly launched website. The updated site offers an engaging, user-friendly experience and showcases the company’s vast portfolio of exquisite residential and commercial projects—from bespoke cabinetry to intricate architectural millwork.

The updated website also introduces responsive design features, ensuring visitors can easily access the company’s portfolio and services across any device, from desktops to smartphones. In addition to a more polished look and feel, the website now offers smoother navigation, allowing users to browse through service offerings, explore more content about the company’s process, and quickly request consultations. By including a dedicated blog and expanded resource sections, Sixth Avenue Custom aims to educate clients about the nuances of custom millwork, giving them the knowledge they need to make informed decisions for their spaces.

If you’re looking for outstanding custom millwork solutions, visit Sixth Avenue Custom to view the newly enhanced website or schedule a consultation for your next project. The company’s dedicated team continues to push the boundaries of design and woodworking, ensuring each project exceeds client expectations. To learn more, explore the site at https://sixthavenuecustom.com or call Sixth Avenue Custom at 301-327-1504. Sixth Avenue Custom is located at 5907 Enterprise Court, Frederick, Maryland, 21703.

Media Contact

Mai-Lan Spiegel, 321 Web Marketing, 1 7038107557, mailan@321webmarketing.com, https://sixthavenuecustom.com/

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SOURCE Sixth Avenue Custom

Technology

Don’t Miss These Incredible AiRROBO Black Friday Deals – Unbeatable Prices Await!

Published

7 hours ago

November 24, 2024

HONG KONG, Nov. 24, 2024 /PRNewswire/ — Black Friday is here, and it’s your chance to grab the best deals of the year! Whether you’re looking to upgrade your home, simplify daily chores, or spoil your furry friends, we’ve got you covered with massive discounts on top-rated products. Check out these must-have items at unbeatable prices, available for a limited time only.

AiRROBO T20+ Robot Vacuum: Revolutionize Your Cleaning

Original Price: $499.99
Black Friday Price: $199

The AiRROBO T20+ isn’t just a cleaning device—it’s your new best friend. Featuring cutting-edge USLAM Air 5.0 & LiDAR Navigation, this robot vacuum efficiently maps your home for flawless cleaning. With its 3-in-1 sweeping, vacuuming, and mopping function, the T20+ handles everything from crumbs to tough stains.

Add the hassle-free self-emptying station, a powerful HEPA filter, and an impressive 180-minute runtime, and you have a device that takes care of your floors without breaking a sweat. Control it effortlessly via app, voice, or remote, and enjoy spotless floors every day.

AiRROBO P20 Robot Vacuum: Clean Smart, Live Better

Original Price: $129.99
Black Friday Price: $64.99
Discount Code: 9TNGZLDR

The AiRROBO P20 is perfect for budget-conscious shoppers who want smart cleaning. It delivers powerful suction to remove dirt, pet hair, and debris from hard floors and carpets. Compact yet efficient, the P20 is ideal for apartments or smaller homes. Don’t miss the chance to grab this deal and simplify your life for a fraction of the price!

AiRROBO PG50 Pet Grooming Vacuum: Pamper Your Pets

Original Price: $99.99
Black Friday Price: $49.69
Discount Code: 4YUDMHIJ

Say goodbye to the mess of grooming your pets at home. The AiRROBO PG50 combines grooming and vacuuming in one handy device, capturing pet hair and dander as you groom. This is the perfect gift for pet lovers who want to keep their homes fur-free while pampering their furry friends.

Why Shop This Black Friday?

Black Friday is the ultimate shopping event of the year, offering discounts you won’t find anywhere else. These exclusive deals are available only from November 21 to December 2, so act fast before they’re gone.

Massive Savings: Up to 60% off premium products.Convenience: Shop online and enjoy fast delivery to your doorstep.Perfect Gifts: Find practical and thoughtful gifts for loved ones—or yourself!

How to Grab These Deals?

Visit the AiRROBO Amazon store.Use the provided discount codes at checkout to secure the sale price.Hurry! Stocks are limited, and these deals won’t last.

This Black Friday, elevate your home and lifestyle without breaking the bank. Don’t let these deals slip away—shop now and enjoy cutting-edge products at unbeatable prices. Your future self will thank you!

For more information

For any giveaway campaigns or new feeds, please join AiRROBO on Facebook, Instagram, Twitter, YouTube and Gleam.io.

About AiRROBO

AiRROBO is a smart home appliance brand with a focus on AI-enabled technologies. Supported by world-leading AI and humanoid robotic company, UBTECH Robotics, AIRROBO is aiming to bring the most cutting-edge technology to more and more households around the globe, making smart home a new norm of life. Find out more at us.air-robo.com.

CONTACT: Kristy Luo, sihui.luo@ubtrobot.com

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SOURCE AiRROBO