The mobile Business Intelligence market is expected to grow from $4.08 billion USD in 2016 to $11.13 billion by 2021 at a compound annual growth rate (CAGR) of 22.2 percent during the forecast period, according to analyst house Research and Markets. The major growth drivers in this sector include the trend of bring your own device (BYOD), the rise of Mobile Enterprise Application Platform (MEAP), growing popularity of REST APIs, proliferation of in-memory computing, and rapid advancement of mobile device features.
The mobile BI market is segmented by software and service. The services segment is expected to grow at the highest CAGR during the forecast period, out of which consulting services in the professional services segment is projected to witness the highest demand due to the growing need of mobile BI software solutions across organizations.
Banking, financial services, and insurance (BFSI) holds the largest share of the mobile BI market in 2016. The growth is fueled by the growing need to simplify the workload related to security and the increasing dependence on data generated from various IT systems used for the financial transactions. Healthcare and life sciences vertical is expected to grow at the highest CAGR during the forecast period due to the increasing need to store and manage data coming from various connected healthcare devices and health record systems used across healthcare organizations.
Major business functions for which the mobile BI is deployed are IT, marketing, sales, operations, finance, and human resources. The adoption of mobile BI for sales is expected to increase significantly in the coming years because of the increasing need for resolving sales-related issues in real-time and the need to streamline sales across industries.
Solution providers mentioned in this report include: Big Data Bizviz, Dundas BI, Information Builders, IBM, MicroStrategy, Oracle, Qlik, Rosslyn Analytics, SAP, SAS, Tableau, TIBCO, Yellowfin, and Zoho.
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