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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

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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

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TÜV Rheinland Joins SEIA and Reinforces Commitment to the U.S. Solar and Renewable Energy Market

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BOXBOROUGH, Mass., Nov. 12, 2024 /PRNewswire/ — TÜV Rheinland of North America is pleased to announce that it has joined the Solar Energy Industries Association (SEIA), underscoring its commitment to advancing the solar and renewable energy industry in the United States. This step reflects TÜV Rheinland’s dedication to supporting the growth of clean energy and providing world-class services that enhance the bankability and reliability of solar projects across the nation.

“We are excited to join SEIA and contribute to the ongoing transformation of the U.S. energy landscape,” said May Wang, US Segment Manager for Solar & Sustainability at TÜV Rheinland of North America. “Our extensive experience in solar and renewable energy, combined with our global network of state-of-the-art laboratories, dedicated expert teams, and comprehensive solutions, enables us to provide cutting-edge services that drive sustainable growth and ensure long-term success in the U.S. market.”

To further support the growth of U.S. Solar manufacturing and renewable energy stations, TÜV Rheinland offers an extended bankability service, meticulously designed by top experts in the solar industry. This service is specifically tailored to help EPCs, investors, and power plant owners accurately assess the return on investment for their solar projects.

“SEIA is glad to have TÜV Rheinland join our organization as the solar and storage industry continues to scale to meet growing demand for electricity,” said Roderick Lewis, senior vice president of sales and business development at SEIA. “We look forward to collaborating with them to further advance the adoption of solar energy across the United States.”

In addition to these specialized services, TÜV Rheinland provides a comprehensive one-stop solution for renewable energy projects, encompassing supply chain and sustainability services. These offerings ensure that every aspect of a project, from inception to operation, meets the highest standards of quality, efficiency, and environmental responsibility.

As the United States aims to revitalize its solar manufacturing industry and increase the share of renewable energy, TÜV Rheinland stands ready to assist in this transformation. With over 150 years of experience in the independent testing, inspection, and certification (TIC) industry, and 42 years specifically in the solar and renewable energy sector, TÜV Rheinland has established itself as a global leader, providing services that ensure quality, safety, and performance across various industries.

TÜV Rheinland’s dedicated team of experts spans Europe, India, the Middle East, Asia, Mexico, and Americas, as well as company’s solar laboratories in Cologne, Shanghai, and Bangalore are at the forefront of innovation, serving top-tier solar panel and PV cell manufacturers worldwide offering unparalleled support to Solar & Energy Storage System power plants.

For more information regarding the solar business, please visit www.tuv.com/solar or contact solar@us.tuv.com.

About TÜV Rheinland
Safety and quality in almost all areas of business and life: That’s what TÜV Rheinland stands for. The company has been active for more than 150 years and is one of the world’s leading testing service providers. TÜV Rheinland has more than 22,000 employees in over 50 countries and generates annual sales of more than 2.4 billion euros. TÜV Rheinland’s highly qualified experts test technical systems and products around the globe, accompany innovations in technology and business, train people in numerous professions and certify management systems according to international standards. In this way, the independent experts ensure trust along global flows of goods and value chains. Since 2006, TÜV Rheinland has been a member of the United Nations Global Compact for more sustainability and against corruption.
Website: www.tuv.com

About SEIA
The Solar Energy Industries Association® (SEIA) is leading the transformation to a clean energy economy, creating the framework for solar to achieve 30% of U.S. electricity generation by 2030. SEIA works with its 1,000 member companies and other strategic partners to fight for policies that create jobs in every community and shape fair market rules that promote competition and the growth of reliable, low-cost solar power. Founded in 1974, SEIA is the national trade association for the solar and solar + storage industries, building a comprehensive vision for the Solar+ Decade through research, education and advocacy. Website: www.seia.org

CONTACT:
Michael García Carbajal
Phone: +52 55 3488 2108
Email: Michael.Garcia@mex.tuv.com

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SOURCE TUV Rheinland

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Equity 1031 Exchange Introduces Cash Incentive Program for 1031 Exchange Referrals

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New program rewards real estate professionals with $225 for qualified referrals

FORT MYERS, Fla., Nov. 12, 2024 /PRNewswire/ — Equity 1031 Exchange is thrilled to announce the launch of a new referral program that offers cash incentives to real estate professionals. The program, which provides a $225 reward for each successful referral, creates new opportunities for real estate agents and brokers to grow their business while connecting their clients with experienced 1031 exchange services.

As investors increasingly seek tax-efficient investment strategies through 1031 exchanges, which require a Qualified Intermediary (QI), this program helps connect real estate professionals with an experienced QI.

“We’re introducing this program to recognize and reward the real estate professionals who trust us with their clients’ 1031 exchange needs,” said Theresa Knower, President of Equity 1031 Exchange. “This program demonstrates our commitment to working with real estate professionals while providing tangible value for their referrals.”

Program highlights:

$225 reward upon completion of first property sale in exchangeStreamlined digital onboarding processAdvanced dashboard for tracking referrals and earningsAccess to expert 1031 exchange advisorsNo cap on earning potential

The program’s launch builds upon Equity 1031 Exchange’s 25-year legacy of excellence, formerly as Midland 1031, and introduces a modern approach to professional referrals. Real estate professionals can now benefit from their network while ensuring their clients receive personalized service through complex 1031 exchange transactions.

Simple three-step process:

Complete and submit referral agreementAccess personalized tracking dashboardEarn rewards upon qualifying transactions

“Our goal is to build strong professional relationships,” added Knower. “We’re offering this incentive because we’re confident that once real estate professionals experience our service quality, they’ll see the value in recommending us to their clients.”

Interested real estate professionals can get more details on the program and sign up here.

About Equity 1031 Exchange

Equity 1031 Exchange is a Qualified Intermediary (QI) under IRS Section 1031, specializing in facilitating seamless, tax-deferred real estate exchanges. With decades of industry experience, Equity 1031 Exchange is dedicated to helping investors preserve and grow their wealth by navigating the complexities of 1031 exchanges. Our team of experienced professionals ensures that each transaction is handled with precision to help you ensure compliance with IRS regulations. Learn more at https://getequity1031.com/.

For more information contact:
Lori Hartigan
Senior Marketing Manager
Equity 1031 Exchange
Email: l.hartigan@trustetc.com

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SOURCE Equity Trust Company

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Pye-Barker Fire & Safety Acquires Sonitrol New England, Enters New Markets and Marks First Rhode Island Location

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ATLANTA, Nov. 12, 2024 /PRNewswire/ — Pye-Barker Fire & Safety – the largest fully integrated and full-service fire protection, life safety and security services provider in the United States – has acquired Sonitrol New England, a regional leader in security and fire alarm services, from the Sonitrol Security Systems network. From this acquisition, Pye-Barker gains two new branches in Rocky Hill, Connecticut, and Riverside, Rhode Island. This marks Pye-Barker’s first location in the state of Rhode Island, helping Pye-Barker expand its full fire code compliance services in the Northeast.

This marks Pye-Barker’s first location in Rhode Island, helping Pye-Barker expand its services in the Northeast.

Sonitrol New England works with thousands of New England customers to protect their businesses, schools, government buildings, healthcare facilities and other commercial entities. The team designs and services fire detection, intrusion detection, video surveillance, panic buttons, access control, and emergency communication systems.

Since its founding in 1972 by Doug Curtiss, Sonitrol New England has remained at the forefront of the latest security technology and team training, efficiently transmitting alarm information to emergency dispatch and first responders.

“For over 50 years, Sonitrol New England has been committed to protecting our neighbors and building highly skilled local teams,” said Doug Curtiss, Sonitrol New England Founder and President. “Joining Pye-Barker is a unique opportunity to add more fire protection services to our offerings and expand career development for our team, while maintaining the localized service that our customers trust.”

“At the heart of Pye-Barker are the local teams who are out protecting their communities every day,” said Bart Proctor, Pye-Barker CEO. “As we continue expanding our geographic footprint, we are proud to bring aboard hardworking teams like those at Sonitrol New England and support their continued service in the neighborhoods where they live and work.”

Sonitrol New England was represented by Mark Sandler, Managing Director at SPP Advisors, in this transaction. Nelson Mullins Riley & Scarborough LLP represented Pye-Barker.

About Pye-Barker Fire & Safety

The U.S. leader in fully integrated life safety systems, Pye-Barker Fire & Safety provides complete fire protection and security systems nationwide. With over 230 locations and 7,000 team members nationwide, Pye-Barker ranks No. 849 on the Inc. 5000 and No. 8 on the SDM 100.

Pye-Barker continues to explore strategic acquisition opportunities. Visit pyebarkerfs.com/acquisitions to see why we’re the industry’s acquirer of choice.

Contact:

Eric Garner
Chief Business Development Officer
801.395.8738
eric.garner@pyebarkerfs.com

Media:

Alycia Volpe
media@pyebarkerfs.com

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SOURCE Pye-Barker Fire & Safety

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