SOCIAL BUSINESS INTELLIGENCE MARKET ANALYSIS | COHERENT MARKET INSIGHTS

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SOCIAL BUSINESS INTELLIGENCE MARKET ANALYSIS

• Social Business Intelligence Market, By
  Deployment Type (On-premise and Cloud-based), By
  Size of Enterprise (Small Enterprise, Medium
  Enterprise and Large Enterprise), By Vertical
  (BFSI, Healthcare and Life Science, Consumer
  Goods and Retail, Travel and Tourism, IT and
  Telecommunication, Media and Entertainment,
  Government  and Others) and by Region (North
  America, Europe, Asia Pacific, RoW) - Size,
  Share, Outlook, and Opportunity Analysis, 2020 -
  2027

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• The global Social Business Intelligence Market
  was valued at US 19,043Mn in 2019 and is
  forecast to reach a value of US 30,049Mn by 2027
  at a CAGR of 5.9 between 2020 and 2027.

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Market Drivers

• Increasing use of social media boosting the
  demand for big data is expected to drive growth
  of the global social business intelligence market
  during the forecast period
• Majority of private organizations are focused on
  adopting big data solutions, in order to capture
  and store large volumes of unstructured data
  through social media and emails. Furthermore, big
  data support managing unstructured data fully or
  partially from enterprise IT systems, social
  media platforms, and CRM conversations.
  Furthermore, big data offers Hadoop solutions,
  which enable users to manage, store, and analyze
  data across numerous resources efficiently.
  Hence, these factors are expected to drive growth
  of the global social business intelligence market
  during the forecast period.

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• Growing adoption of cloud-based technologies and
  software-as-a-service is expected to propel the
  global social business intelligence market growth
  over the forecast period
• Business intelligence services play a crucial
  role in big data analysis tools that are
  cloud-based. Deployment of cloud services on
  social media platforms has numerous benefits such
  as low infrastructure cost and service model
  remuneration. For instance, organizations such as
  Microsoft Corporation, IBM Corporation, and
  Oracle Corporation are adopting public and
  private cloud platforms to switch their
  enterprise workloads. In North America, the
  market for social business intelligence systems
  that are implemented on a private cloud platform
  is growing exponentially. Therefore, these
  factors are expected to propel the market growth
  over the forecast period.

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• North America held dominant position in the
  global social business intelligence market
  in 2019, accounting for 35.4 share in terms of
  value, followed by Europe, APAC and RoW
  respectively
• Figure 1 Global Social Business Intelligence
  Market Share (), in terms of Value, By Region,
  2019

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Market Restraints

• Complexity associated with mapping data and data
  governance integrity while cloud adoption is
  expected to restrain growth of the global social
  business intelligence market during the forecast
  period
• Enterprises carry out multiple operations and
  have a large volume of different data including
  that of the supply chain, ERP running financials,
  and other functions. These enterprises are
  required to determine and plan where data is, in
  order to share and integrate information. Mapping
  data is prone to error, time-consuming, and
  complex tasks in many integration processes. This
  acts as a roadblock for integration on the cloud.
  Thus, these factors are expected to restrain
  growth of the market during the forecast period.

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• Challenges associated with security is expected
  to hinder the global social business intelligence
  market growth over the forecast period
• In social business intelligence systems, one of
  the prime challenges faced by many organizations
  while adopting cloud services is data security.
  As demand for cloud-based services is growing,
  most organizations are shifting their workloads
  on the cloud from on premise based, therefore
  security breaches have increased. Hence, security
  breaches and privacy concerns are among the prime
  challenges faced by vendors offering cloud-based
  solutions. Hence, these factors are expected to
  hinder the global social business intelligence
  market growth in the near future.

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Market Opportunities

• Positive attitude towards Hadoop can present
  significant business opportunity Adopting new
  enterprise data operating systems over SQL is
  expected to make a positive impact on the global
  social business intelligence market. Furthermore,
  distributed analytic framework including
  MapReduce is expected to turn Hadoop into a
  general-purpose data operating system. It also
  offers sufficient performance at a low price and
  manages various types of workloads such as graph
  analytics and stream processing.
• Increasing use of in-memory analytics can pose
  excellent growth opportunities Rising adoption
  of in-memory database is expected to accelerate
  analytic processing. Several tasks such as hybrid
  transaction processing, which are used for faster
  analytics operations would reside within the same
  database.

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Figure 2 Global Social Business Intelligence
Market Value (US Mn), 2017 - 2027
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Market Trends

• Trends by the size of enterprise
• Business intelligence for small and medium
  enterprises have become affordable Big data
  analytics is playing a significant role in the
  way various departments in a business,
  specifically sales and marketing, functions. SMEs
  are investing in BIs and gradually shifting from
  spreadsheets, as the solutions have become faster
  and more affordable. The BI solutions require
  configuration rather than development from
  scratch. For instance, in 2012, Zoho Corporation
  Pvt. Ltd. added Zoho Business Intelligence, which
  is a BI feature for Zoho CRM with Zoho report
  integration.
• Trends by vertical
• Increasing demand for location intelligence
  Spatial data is adding to complexity/simplicity
  of BI and analytics. For end users, it is
  beneficial to mash-up location-based intelligence
  with other data. The users are able to map
  marketing strategies, locate geographic sites for
  restaurants or cellular towers, etc. the
  challenge faced by enterprises to deploy BI is
  that these systems are not designed to be
  implemented on existing systems of the spatial
  data of the enterprise. Advanced BI vendors are
  gradually working on the issue, but traditional
  BI is not compatible when it comes to spatial
  data. For instance, in October 2014, Luciad, a
  Belgium-based software developing company,
  designed time dimension-based business
  intelligence to enhance location and its
  interactive user conference for BI.

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Global Social Business Intelligence Market -
Impact of Coronavirus (Covid-19) Pandemic

• Due to Covid-19 pandemic, many industries
  witnessed significant shift in their business.
  There is significant impact on social business
  intelligence market as well. Software companies
  across the globe are using business intelligence
  tools to analyze the data to understand the
  consumer behaviors and market trends. Due to
  Covid-19 demand for these tools is increasing as
  companies are using insights generated from these
  tools to identify new financial threats and
  opportunities. For instance, IBM Corporations
  products such as IBM Watson Tone Analyzer and the
  IBM ILOG CPLEX are used by companies to analyses
  behavior of consumer and predict the ongoing
  effects of corona for next quarter.

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Competitive Section

• Key players operating in the global social
  business intelligence market are IBM Corporation,
  TIBCO Software, Inc., SAP SE, Logi Analytics
  Inc., Tableaue Software, Inc., MicroStrategy,
  Inc., QlikTechnologies, Inc., Alteryx, Inc., and
  Microsoft Corporation. 

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Key Developments

• Key players in the market are focused on mergers
  and acquisitions, in order to enhance the market
  presence. For instance, in June 2019, Logi
  Analytics Inc. acquired Zoomdata Inc., a data
  visualization firm 

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