Market Trends of Mobile Business Intelligence Industry
This section covers the major market trends shaping the Mobile Business Intelligence Market according to our research experts:
Large Enterprises to Drive the Market Growth
- The advent of technologies and tools, like business intelligence and data analytics, has invariably helped large enterprises reflect all required regulations and stay competitive while attending to today’s modern customers' digital needs. These solutions aid these institutions in making smarter decisions, both financially and operationally.
- With technologies, such as AI, ML, and IoT, the dependency on data continues to rise, leading to a rise in the demand for mobile BI tools. They help enhance the operations for large enterprises, majorly in industries like banking and financial, retail, healthcare, and by identifying, analyzing, addressing, and resolving issues in real-time. Large Telecommunication companies rely heavily on a good mobile analytics strategy for the success of their companies, as all respondents from this sector regarded it as important.
- The growth in the adoption of mobile BI by large enterprises in the BFSI sector can be attributed to numerous factors, such as the growing adoption of data analytics, an increase in mobile data generation, proliferation of mobile devices and apps, and the improved efficiency of BI tools. Collaborations in the space have further provided the required impetus for driving the demand for market growth.
- For instance, SimCorp, a key player in investment management solutions, collaborated with Qlik, a provider of data analytics platform and user-driven Business Intelligence (BI), to procure Qlik's advanced BI and analytics platform for mobile named Qlik Sense Mobile. The data is likely to be embedded in SimCorp's Data Warehouse, providing SimCorp clients with fast insights into their investment management operations, portfolio analytics, and performance management.
- Coca-Cola, whose market capitalization as of September 2020 is USD 215.59 billion, generated tons of data from different systems earlier and found it challenging to keep a record of the daily reports. In such regard, the company had deployed the analytical tool Tableau for the mobile for their salespeople. Such as move has enabled their salespeople to get timely updates and save the majority of the time wasted in analyzing figures. They were also able to update the data from their end with just a click.
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North America to Account for the Largest Share
- North America is a major player in the development and implementation of new technologies. It has a vibrant big-data and business analytics-oriented startups with having a high dominance in the ICT industry due to the presence of large corporations like Apple, Facebook, IBM, and Google. Moreover, North America is rated as the top contributor in the mobile analytics market due to its technological acceptability and high level of consumer use than other developed markets.
- The healthcare industry in the United States is growing at a rapid pace as initiatives taken by the government with various tools for the healthcare sector are expected to drive the growth of big data analytics and cloud base deployment. According to the US Department of Health and Human Services, in 2000, expenditure on health services and supplies amounted to some 1.4 trillion U.S. dollars. In 2020, the figure stood at some 2.6 billion U.S. dollars.
- Moreover, the United States government also actively implementing mobile BI solutions across its organizations. The companies are also investing significantly in developing suitable solutions. Last year, Amazon launched Amazon Pinpoint Service, which help in measuring app usage and revenue. In addition, Pinpoint extends this capability by making it easy to run targeted campaigns to drive user engagement in mobile apps, which is helping in growing the market.
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