Global Mobile BI Market Research Report
Today’s business world is shifting towards a digital era. The power of mobile BI has seen faster adoption than we could have anticipated. The transformation is indisputable, yet how can we measure its effectiveness in detail? Mobile BI has been considered to be the fastest approach in performance analytics and forecasting over the last five years owing to better accessibility with lightweight devices, affordable data procedures, and seamless interface capabilities.
The global mobile BI market is expected to grow at a CAGR of 23.3% during the forecast period. The market is expected to reach $23.3 billion by 2024.This report covers a forecast period from 2014-2020 including global events from smartphone market trends, along with inclusive and exclusive factors found in segmentation and research methodology identifying some of the key content strategies for projecting long-term demand.
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The market can be divided into Professional Services and Manged Services based on the type of services that can be offered. Depending on thetype of business functional departments where it is applicable, the market is segregated into five categories:
Based on the types of end users, to whom this can be marketed, the market has been categorised into :
The market is categorized into four zones: North America, Asia Pacific, Europe, and the Rest of the World.
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There are different factors that are driving the market, such as rising penetration rate of high-priced smartphones, advanced technologies being adopted by digital products, reliance on mobile apps for performing business operations and increasing changes in mobile device usage patterns. Furthermore, mobile BI arises when an effort has been made to put data from different sources onto digital media by adopting new interactive tools and procedures through the application of Big Data analytics methods. The other factor that is dynamically driving the growth of the global market is changing lifestyles due to the proliferation of smartphone users across all geographic regions around the globe.
It has even gained more momentum around the globe (i.e., north America & Asia Pacific). It is not an easy victory to win with just its expansion as it serves multiple verticals as well such as healthcare, BFSI, retail & retail banking like competing verticals that still cannot compete in performance metrics so easily. Regional classification of players in Mobile BI Market are; North America , Europe, Asia Pacific, Latin America and Middle East & Africa. North America held the largest share of the market in 2018 owing to its fast-paced technology development, next generation IoT devices and high penetration of mobile internet traffic. The region is expected to be further strengthened with the adoption of AI and machine learning as well as cloud computing solutions over the forecast period.
Smartphone penetration across the world has increased from 45% in 2019 to 54% in 2021. The forecast for 2022 is 63%. This increase has been driven by the rapid adoption of mobile internet connectivity and mobile apps, which have significantly accelerated over time. Consumers will continue to drive demand towards a combination of international and domestic applications.For example, in 2021 there were nearly 1 billion combined iOS and Android devices sold. In 2022, this number is predicted to be approximately 3 billion devices.
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