The global mobile BI market is estimated to grow at a ~25% CAGR over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the increasing demand for accessing data remotely amongst business organizations. Using mobile BI, large data can be accessed on a go, which is estimated to drive the market growth. Increasing integration of advanced technology in business sector, rising adoption of mobile enterprise application platform (MEAP), and proliferation of in-memory computing are projected to boost the market growth. The mobile application was a USD 600 billion industry, in 2020. Moreover, the growing scale of businesses globally, with large volumes of big data, resulted in increased dependance on technology. Mobile BI technology also protects the data from security threats, and frauds. Various advantages of mobile BI, including, fraud detection, asset management, risk analysis, and others.
The mobile BI market is segmented by application into fraud management, sales and marketing, risk management, supply chain management, and others, out of which, the fraud management segment is anticipated to hold the notable share in the market on account of increasing cases of security threats and privacy breach. According to statistics by the Federal Trade Commission (FTC), total losses caused by identity theft cases amounted to USD 502.5 billion in 2019, which increased by 42% to USD 712.4 billion in 2020. CLICK TO DOWNLOAD SAMPLE REPORT
The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.
On the basis of geographical analysis, the global mobile BI market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America region is estimated to witness noteworthy growth over the forecast period on the back of technological advancement, adoption of latest technology, and rising BYOP trend in workplaces in countries, such as, Canada, and the United States. Moreover, growing work from home culture, due to the COVID-19 pandemic is another growth factor for the market.
The market in the Asia Pacific region is estimated to witness growth with highest CAGR over the forecast period, on the back of growing technological development, increasing investment in the local market by international players, creating massive growth opportunity, and rapid advancement in smartphone features.
The global mobile BI market is further classified on the basis of region as follows:
Our in-depth analysis of the global mobile BI market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Growing demand for remote access to data amongst business organizations is a major growth factor for the market.
The market is anticipated to attain a CAGR of ~25% over the forecast period, i.e., 2022 – 2030.
Security concerns, and network issues are estimated to hamper the market growth.
The market in the Asia Pacific region is estimated to witness highest growth during the forecast period owing to the growing digitalization and technological advancement in the region.
The major players in the market are Microsoft Corporation, SAP SE, Oracle Corporation, MicroStrategy Incorporated, SAS Institute, Tableau Software, Information Builders, and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by type, application, end-user, and by region.
The fraud management segment is anticipated to hold largest market size over the forecast period and display significant growth opportunities owing to rising privacy security concerns amongst business organizations.
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