The 2024 Business Intelligence Outlook showcases the sector’s changing landscape, focusing on key trends, growth dynamics, and emerging companies. It examines important areas such as data governance, data visualization and analytics, and augmented analytics. The report also offers insights into the industry’s workforce, investment patterns, and technological advancements.
This business intelligence industry report serves as a reference for stakeholders within the industry, investors, policymakers, and economic analysts, providing a snapshot of the industry’s health to map its trajectory for innovation and growth in the coming years.
StartUs Insights Business Intelligence Report 2024
- Executive Summary
- Introduction to the Business Intelligence Report 2024
- What data is used in this Business Intelligence Report?
- Snapshot of the Global Business Intelligence Industry
- Funding Landscape in the Business Intelligence Industry
- Who is Investing in Business Intelligence Companies?
- Emerging Trends in the Business Intelligence
- 5 Innovative Business Intelligence Startups
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Executive Summary: BI Report 2024
This report is created using data obtained from the Big Data and AI-powered StartUs Insights Discovery Platform, covering more than 4.7 million global companies, as well as 20K+ technologies and emerging trends. We also analyzed a sample of 3900+ business intelligence startups developing innovative solutions to present five examples from emerging business intelligence industry trends.
- Industry Growth Overview: The business intelligence market report shows an industry experiencing a 2.22% annual growth rate, encompassing over 41000 companies.
- Manpower & Employment Growth: The industry employs a workforce of 2.6 million and added 220000 new employees in the last year.
- Patents & Grants: The sector holds over 13600 patents and has secured more than 1500 grants.
- Global Footprint: The business intelligence sector has a strong global presence, with key hubs in countries such as the US, India, UK, Canada, and Germany, and major city hubs in London, New York City, Bangalore, Sydney, and San Francisco.
- Investment Landscape: The average investment value in the industry is USD 14.4 million per round. The sector has attracted a network of over 2700 investors who have contributed to more than 8900 funding rounds.
- Top Investors: The combined investment value of top investors like Insight Partners, Sequoia Capital, BlackRock, and more has exceeded USD 3 billion.
- Startup Ecosystem: Five innovative startups include InsightBase (AI Business Intelligence), Whaly (Self-Service Business Intelligence), Mely.ai (Generative Intelligent Document Processing), Nucla (External Relationships Management), and BIUWER (Embedded Analytics).
- Recommendations for Stakeholders: Entrepreneurs should develop innovative BI tools that leverage AI and machine learning for deeper insights and predictive analytics. Executives and senior management need to prioritize data-driven decision-making, invest in advanced BI technologies, and foster a culture of data literacy across their organizations.
Explore the Data-driven Business Intelligence Report for 2024
The Business Intelligence Report 2024 uses data from the Discovery Platform and encapsulates the key metrics that underline the sector’s dynamic growth and innovation. The heatmap illustrates the concentration and distribution of crucial metrics across various geographical regions and industry sectors. The database includes 3900+ startups out of a total of over 41000 companies.
The industry experienced a growth rate of 2.22% in the last year. This indicates a dynamic and expanding landscape. With over 13600 patents and more than 1500 grants, the sector shows innovation and research activity. The global workforce stands at 2.6 million, with employee growth exceeding 220000 in the past year. The top country hubs include the US, India, the UK, Canada, and Germany, while major city hubs are London, New York City, Bangalore, Sydney, and San Francisco.
What data is used to create this business intelligence report?
Based on the data provided by our Discovery Platform, we observe that the business intelligence industry ranks among the top 5% in the following categories relative to all 20K topics in our database. These categories provide a comprehensive overview of the industry’s key metrics and inform the short-term future direction of the industry.
- News Coverage & Publications: The industry received more than 29300 publications last year. This is indicative of extensive news coverage and media presence.
- Funding Rounds: Over 8900 funding rounds were recorded, reflecting strong investment activity.
- Manpower: The industry employs more than 2.6 million workers, with 220000 new employees added in the past year.
- Patents: It holds over 13600 patents, highlighting robust innovation and intellectual property development.
- Grants: It secured more than 1500 grants for research and development efforts.
- Yearly Global Search Growth: The annual global search growth for the industry is at 6.23%. This showcases an increasing interest in BI worldwide.
- and more. Get in touch to explore all data points used to create this business intelligence report.
A Snapshot of the Global Business Intelligence Industry
The business intelligence industry report shows growth and activity across several key metrics, reflecting its dynamic and expanding nature. The industry employs a workforce of 2.6 million, with an addition of 220000 new employees in the last year, indicating significant manpower growth. The sector also includes over 41000 companies that demonstrate a diverse business landscape.
Explore the Funding Landscape of the Business Intelligence Industry
Investment in the industry remains strong, with an average investment value of USD 14.4 million per round. This financial backing is supported by a network of over 2700 investors, contributing to more than 8900 funding rounds closed. The data also indicates that more than 2900 companies have received investment, reflecting investor confidence and interest in the sector.
Who is Investing in Business Intelligence?
The combined investment value by the top investors in the business intelligence industry exceeds USD 3 billion. The detailed breakdown of top investors includes:
- Insight Partners has invested USD 700.5 million in 10 companies.
- Sequoia Capital has committed USD 421.4 million to 7 companies.
- BlackRock has allocated USD 400 million to 2 companies.
- 137 Ventures has invested USD 370 million in 2 companies.
- Battery Ventures has supported 4 companies with USD 243.1 million.
- BC Partners has invested USD 234 million in 2 companies.
- New Enterprise Associates has funded 5 companies with USD 198.5 million.
- Centana Growth Partners has committed USD 192.2 million to 2 companies.
- JPMorgan Chase has invested USD 175 million in 2 companies.
- Vista Equity Partners has supported 5 companies with USD 160.7 million.
- and more. Reach out to us to explore all investment data in the business intelligence industry
Access Top Business Intelligence Innovations & Trends with the Discovery Platform
Here are the leading trends within business intelligence along with the firmographic insights:
- Data Governance is becoming a critical trend in the business intelligence industry, with over 1860 companies identified in this sector. It employs more than 106K individuals. Last year, over 13k new employees joined the data governance workforce. The annual trend growth rate for data governance is 16.09%.
- Visual Data Analytics is gaining traction, with more than 490 companies actively participating in this sector. This trend supports over 20K employees, including 2K new hires in the past year. The annual trend growth rate of 10.02% signifies steady interest and adoption of visual data analytics tools and techniques.
- Augmented Analytics is a growing trend and has over 110 companies. The field employs approximately 5K individuals, including more than 820 new employees added last year. With an annual trend growth rate of 25%, augmented analytics leverages machine learning and artificial intelligence to enhance data analysis processes.
5 Top Examples from 3900+ Innovative Business Intelligence Startups
The five innovative startups showcased below are picked based on data including the trend they operate within and their relevance, founding year, funding status, and more. Book a platform demo to find promising startups, emerging trends, or industry data specific to your company’s needs and objectives.
InsightBase offers AI Business Intelligence
UK-based startup InsightBase offers an AI-powered business intelligence platform that allows businesses to interact with their databases using natural language queries. The platform provides a visual builder for creating dashboards and reports without coding. InsightBase also includes options for writing custom SQL queries and using a Javascript editor. Further, it offers data monitoring features to notify of any changes in the data. It allows embedding dashboards and reports directly into the websites or applications. InsightBase streamlines data analysis and reporting for data scientists, analysts, and engineers.
Whaly provides Self-Service Business Intelligence
French startup Whaly offers a self-service business intelligence platform that allows organizations to explore data autonomously. The platform allows them to define a semantic layer and create a common business language for all teams. Whaly’s Report Builder enables the creation of customized dashboards. The platform also integrates natively with data warehouses and allows managing and importing tables directly. The platform’s Workbench feature supports last-mile data transformation without requiring SQL knowledge. Whaly provides direct connectivity to business data sources, facilitating rapid project delivery and dashboard iteration.
Mely.ai offers Generative Intelligent Document Processing
Canadian startup Mely.ai specializes in intelligent document processing for the transportation and logistics industry. The OTO-Freight platform manages billing, reconciliation, and shipping documents and provides up-to-date freight information. OTO-Customs automates customs commercial invoices, calculates tariffs and duties, and speeds up shipment clearance. OTO-Compliance handles certificates of analysis and ensures data validation based on food safety regulations and standards. OTO-Ports automates the processing of vessel and cargo manifests, statements of facts, and hazmat documents and enhances terminal operations transparency.
Nucla advances External Relationships Management
US-based startup Nucla offers a platform that centralizes B2B relationships across a company and consolidates activities from various teams and tools. The platform integrates supplier databases like HICX, Ariba, and Coupa to extract and consolidate crucial business intelligence. It maps organizational engagement team activities and aggregates spreadsheets and other data from teams involved in external partnerships. Further, it provides update reminders to notify users when records need updating or when engagement overlaps with another team or database.
BIUWER offers Embedded Analytics
Spanish startup BIUWER offers a platform that organizes content using spaces, pages, and cards and ensures data management. The businesses interact with data using an interactive card editor, that features drag-and-drop functionality. The query engine composes queries automatically. It also offers customization options including style themes and color palettes for personalized visualizations. Further, BIUWER’s dynamic filtering system allows for data interaction and analysis.
Gain Comprehensive Insights into Business Intelligence Trends, Startups, or Technologies
The 2024 Business Intelligence Industry Outlook highlights the sector’s dynamic growth and impact on various industries. The increasing adoption of data governance, visual data analytics, and augmented analytics reflects the industry’s commitment to innovation and efficiency. Connect with us to explore all 3900+ startups and scaleups, as well as all industry trends impacting business intelligence companies.
