Are you looking to add Market Intelligence to your arsenal of tools? Maybe for your business or personal use only, whatever it is – it’s always a good idea to know more about the most important Market Intelligence statistics of 2024.
My team and I scanned the entire web and collected all the most useful Market Intelligence stats on this page. You don’t need to check any other resource on the web for any Market Intelligence statistics. All are here only 🙂
How much of an impact will Market Intelligence have on your day-to-day? or the day-to-day of your business? Should you invest in Market Intelligence? We will answer all your Market Intelligence related questions here.
Please read the page carefully and don’t miss any word. 🙂
On this page, you’ll learn about the following:
Best Market Intelligence Statistics
☰ Use “CTRL+F” to quickly find statistics. There are total 178 Market Intelligence Statistics on this page 🙂Market Intelligence Benefits Statistics
- Despite the benefits, business adoption of big data is still a struggle, with 73.4% of organizations seeing it as an ongoing challenge. [0]
Market Intelligence Usage Statistics
- Both financial and business services have a 40% apiece according to business intelligence usage statistics. [1]
- According to business intelligence usage statistics, 89% of manufacturers with BI and analytics initiatives say they work. [1]
Market Intelligence Market Statistics
- The global business intelligence market is predicted to expand from $23.1 billion in 2020 to reach $33.3 billion by 2025, with a 7.6% CAGR. [0]
- Meanwhile, the global mobile business intelligence market was valued at $8.8 billion in 2020 and is expected to reach $29.6 billion by 2027, at an 18.9% CAGR. [0]
- When combined with big data, the worldwide business intelligence and analytics software market was valued at $193.14 billion in 2019 and is predicted to reach $420.98 billion by 2027, growing at a projected CAGR of 10.9% from 2020 to 2027. [0]
- The global server market for HPDA, or high performance data analytics a close relative of business intelligence will grow at a CAGR of 21.8%, reaching $193 billion in 2027 from $48.6 billion in 2020. [0]
- SAS Institute About 62.5% of the 2019 business intelligence and analytics software market worldwide were controlled by the top 10 business intelligence software vendors, which had a combined revenue of almost $14.9 billion. [0]
- 72% of enterprise BI software vendors describe cloud BI as critical to their goto market strategies, an eventual response to the steady growth in public cloud BI application deployments in the last several years. [0]
- The market for this technology is estimated to exceed $35 billion by 2026. [0]
- Data engineers in the San Francisco Bay Area job market enjoyed a 6% salary boost or an average of $160,000 per year as of 2019. [0]
- Using competitive intelligence, 56% of executives keep an eye on their potential competitors and make plans to conquer new markets in the following three years. [2]
- In the previous stat, 56% of executives kept an eye on what their competitors are doing, and with that, it helps them have an idea of where the market is going. [2]
- 81% of marketers expect to be competing mostly or completely on the basis of customer experience with their competitors in two years. [2]
- MarketIS gives you 100% of global market size estimates. [3]
- Our BSP source is comprised of passenger tickets issued by more than 80,000 travel agents, 400 airlines and 29 Global Distribution Systems , processed with complex internal algorithms and calibrated to reflect total estimated market size. [3]
- According to business intelligence trends, most businesses changed adopted online working, marketing, or selling in 2020 due to Corona. [1]
- According to business intelligence market statistics, 2025 will be a big year with a growth of $10.1 billion compared to 2020. [1]
- 90% of sales and marketing teams cite BI as a crucial tool in getting their work done effectively. [1]
- Finance (67%), sales (61%), and marketing (60%). [1]
- In fact, the global business intelligence market is predicted to expand from $23.1 billion in 2020 to $33.3 billion by 2025. [4]
- In fact, 77% of businesses say holistic competitive intelligence is critical to successful marketing intelligence. [4]
- Only 17% of marketers use landing page A/B tests to improve conversion rates. [5]
- 64% of SEO marketers call mobile optimization an effective investment. [5]
Market Intelligence Software Statistics
- When combined with big data, the worldwide business intelligence and analytics software market was valued at $193.14 billion in 2019 and is predicted to reach $420.98 billion by 2027, growing at a projected CAGR of 10.9% from 2020 to 2027. [0]
- SAS Institute About 62.5% of the 2019 business intelligence and analytics software market worldwide were controlled by the top 10 business intelligence software vendors, which had a combined revenue of almost $14.9 billion. [0]
- 72% of enterprise BI software vendors describe cloud BI as critical to their goto market strategies, an eventual response to the steady growth in public cloud BI application deployments in the last several years. [0]
- Post COVID19, it’s expected that 95% or more of enterprise software vendors will consider Cloud BI as a must have, as every organization is now a distributed one. [0]
Market Intelligence Adoption Statistics
- As of 2020, the global BI adoption rate was 26%. [0]
- In 2020, the cloud BI adoption rate is highest in the manufacturing industry at 58%, followed by financial services and business services at 40%. [0]
- Despite the benefits, business adoption of big data is still a struggle, with 73.4% of organizations seeing it as an ongoing challenge. [0]
- 69% of directors have fast tracked digital business adoption. [1]
- According to business intelligence adoption statistics, the United States will generate $11,727m in 2021. [1]
Market Intelligence Latest Statistics
- The day after the announcement, the company’s stock price plunged by over 35 percent, marking the largest single day drop ever in percentage terms. [6]
- A survey conducted in the United States in March 2024, found that 48 percent of all respondents stated they were not at all interested in virtually attending a live sporting event in the metaverse. [6]
- Millennials were the most likely to show interest in attending such an event, with 27 percent saying they would be very interested, and 29 percent saying they would be somewhat interested. [6]
- After a period of gradual decline, the average annual rate on a 30year fixed rate mortgage in the United States rose to 4.17 percent March 2024, up from 3.08 percent in March 2021. [6]
- That month, price levels of transportation and communication in China increased by approximately 5.8 percent compared to the same month of the previous year. [6]
- The projected percent change in employment from 2020 to 2030. [7]
- The average growth rate for all occupations is 8 percent. [7]
- The percent change of employment for each occupation from 2020 to 2030. [7]
- More than 46% of small businesses use business intelligence tools’ virtual networking features as a core element of their business strategy. [0]
- The fastest growing segment is cloud analytics, which is expected to grow at a CAGR of 23.0%, expanding from $23.2 billion in 2020 to $65.4 billion by 2025. [0]
- In 2020, 54% of enterprises say Cloud BI is either critical or very important to their ongoing and future initiatives. [0]
- Companies with CEOs that spearhead data driven decisions are 77% more likely to achieve business goals. [0]
- They are also 59% more likely to derive actionable insights from analytics results. [0]
- 77% of users considered it as either critical or very important to their operations. [0]
- Microsoft Azure is followed by Amazon Web Services and Google Cloud, with 66% and 41% of users finding them critical or very important to their business, respectively. [0]
- As of 2020, the number of organizations that consider data management as a business asset is up to 50% from 46.9% in 2019. [0]
- Based on a study of organizations with $100 million or more in annual revenue, the industries that place the highest importance on mobile business analytics applications and platforms are hospitality (58%) and telecommunications (56%). [0]
- In 2019, 64% of users reported that BI data and analytics helped improve their efficiency and productivity. [0]
- Meanwhile, 56% believe it has allowed them to make more effective decisions faster and 51% think it has led to better financial performance. [0]
- Almost half of companies today (45%). [0]
- The total enterprise data volume worldwide is estimated to increase two fold from 2020 to 2024. [0]
- Less than 20% of organizations report having a chief data officer while fewer than 15% report having a chief analytics officer. [0]
- 72.1% of firms report that they have yet to fill the CDO/CAO role. [0]
- Furthermore, 48.5% of organizations favor outside change agents over internal veterans. [0]
- In line with this, only 37.8% of firms report creating a data driven organization while only 26.8% consider themselves successful at building a data culture. [0]
- Based on the analysis of Forrester consultant Michael Speyer, an organization that implements a BI solution can experience a 127% return on investment in just three years. [0]
- For 2019, 91.6% of global companies are increasing their investments in big data and AI. [0]
- In 2020, the pace of investment has leveled off, with only 51.9% of firms accelerating their rate of investment. [0]
- 46% of CIOs suffered from a skills shortage, followed by a shortage of AI skills (38%.). [0]
- According to the US Bureau of Labor Statistics, around 11.5 million data scientist jobs will be created by 2026. [0]
- Demand for data engineers is projected to grow at a rate of 50% annually. [0]
- Demand for data engineers was seen to rise at a respectable rate of 45% in 2020. [0]
- The demand for data science and machine learning jobs will grow by 38% and 37% over the next decade, respectively. [0]
- Only 23% of respondents who purchased BI within the last two years cited “fast query performance” as a reason to buy, versus 31% of respondents who bought more than two years ago. [0]
- 90% of Fortune 500 Companies already use Competitive Intelligence to Gain a Competitive Advantage . [2]
- With 90% of Fortune 500 Companies using CI to gain an advantage of their industry competitors, businesses outside of the F500 should be focused on improving their own CI efforts to remain competitive. [2]
- More than 73% of enterprises dedicate 20% of their technology budgets to research and data analytics. [2]
- 74% of enterprises say that their main competitors are already using Big Data analytics to successfully differentiate their competitive strengths with clients, the media, and investors. [2]
- 57% of companies state that gaining a competitive advantage is one of the top 3 priorities in their industry. [2]
- 94% of businesses are planning to invest in competitive intelligence. [2]
- Small Biz Trends 94% of companies planning to invest in competitive intelligence is a huge deal. [2]
- Companies analyze only about 12% of their entire collected data. [2]
- That leaves about 88% of the opportunities and threats that go unnoticed. [2]
- A Competitive Intelligence solution would help companies avoid letting big opportunities slip through the cracks and better utilize the other 88% of data they are. [2]
- 53% of CEO’s said they are concerned about competition from disruptive businesses. [2]
- In 10 years, 40% of today’s Fortune 500 companies will be replaced by firms we haven’t yet heard of because they can’t compete . [2]
- This is a compelling statistic stating that 40% of the Fortune 500 companies, or 200 players, will be replaced because they could not adapt to the increased need for competitive intelligence to remain at the top. [2]
- 62% of companies foresee increasing the CI spend. [2]
- Only 50% of MI budget is spent on regular deliverables, the remaining 50% is spent to deep dive on emerging topics. [2]
- 61% of the companies strongly agree that their company has benefited from MI and support a holistic, multi source, consultative approach increasingly being adopted. [2]
- Market pressures are the leading drivers of digital transformation as most efforts are spurred by growth opportunities (51%) and increased competitive pressure (41%). [2]
- Ai enabled monitoring and analysts curated news that enables up to 90% superior relevance. [2]
- AI enabled monitoring improved knowledge relevancy by 90%, better supporting the needs of CI, Marketing, Sales, and Strategy teams. [2]
- The average time spent on each page for the entire business intelligence category increased 11% year over year, from 7 minutes in June 2019 to over 8 minutes in June 2020.TrustRadius also hosts the most in depth review content available. [8]
- The average time spent on each page for the entire business intelligence category increased 11% year over year, from 7 minutes in June 2019 to over 8 minutes in June 2020. [8]
- Indian Domestic IT Services Market Grows by 7.9% in 2021 with Enterprises Continuing to Invest in Digital Transformation Initiativ… [9]
- Asia/Pacific* Big Data and Analytics Spending to Grow by 19% in 2024, Says IDC Read. [9]
- Asia/Pacific* Big Data and Analytics Spending to Grow by 19% in 2024, Says IDC. [9]
- IDC Survey Reveals 57% of A/NZ SMBs Are Out of Survival Mode and Expects IT Spending to Rise in 2024. [9]
- Worldwide Smart Home Devices Market Grew 11.7% in 2021 with Double Digit Growth Forecast Through 2026,. [9]
- According to IDC Read Worldwide Smart Home Devices Market Grew 11.7% in 2021 with Double Digit Growth Forecast Through 2026,. [9]
- Asia Pacific AR/VR Market for Headsets Grew by 60% in 2021,. [9]
- Here are some highlights to help you understand the importance of it all By 2024, over 33% of large sized businesses will practice decision intelligence. [1]
- Self service business intelligence is crucial for 60% of research and development departments. [1]
- 71% of buyers prefer Microsoft Azure as their number one vendor. [1]
- In 2020, 54% of enterprises agreed that cloud based BI was vital to their current and future initiatives. [1]
- According to business intelligence technologies, the popularity grew since 2012. [1]
- Back then, only 10% of business owners considered it vital. [1]
- By 2020, the percentage had almost tripled, though. [1]
- The revenue for public cloud infrastructure will rise by 35% in 2021. [1]
- Proceeds will likely be $120 billion by Q4 of 2021. [1]
- Over 30% of institutions in higher education thought cloud BI was critical in 2020. [1]
- Business intelligence platforms statistics show that the demand was 30% in 2020, compared to the previous years when it was 15%. [1]
- 70% of organizations think that data discovery and visualization are vital. [1]
- According to data visualization statistics for 2021, ¾ of business owners take it very seriously. [1]
- The predictions show a Compound Annual Growth Rate of 7.6% during the period. [1]
- It is expected to grow at a CAGR of 21.6% till 2024. [1]
- According to business intelligence stats about customers, seven out of 10 people think Microsoft Azure is one of the best vendors. [1]
- Amazon Web Services comes in second with 33%, while Google Cloud takes the third position with 22%. [1]
- 49% of manufacturers that use business intelligence plan to increase their budgets YOY. [1]
- According to business intelligence statistics for 2021, almost 50% of manufacturers anticipate that their budgets for BI and analytics will go up in the coming years. [1]
- So far, 58% of manufacturing companies are already using cloud. [1]
- More than 46% of businesses are already using a BI tool as a core part of their business strategy. [1]
- The commitment to cloud use by North America is at 29%. [1]
- Europe is 10% behind North America when it comes to using cloud BI. [1]
- 34% of organizations in Mexico, the US, Greenland, and Canada are either fully or partially using the technology compared to 24% of Europe. [1]
- 50% of Chief Digital Officers that don’t utilize Chief Data Officer peers have a rough time succeeding. [1]
- According to statistics on the future of business intelligence, there were just around 364,000 data science related job openings in 2018. [1]
- 85% of business leaders agree that big data will significantly change the way that they do business. [1]
- Therefore, nearly 70% of business heads have accelerated the efforts to implement digital operations in 2021 to survive in a challenging environment. [1]
- 55% of businesses have dark data. [1]
- Globally, only 24% of business leaders have passed the data literacy test. [1]
- According to business intelligence statistics for 2021, an organization is not considered data literate until the majority of its employees can comfortably work with data on their own. [1]
- Only 32% of executives say that they can create useful value from data. [1]
- According to business intelligence stats for 2021, 75% of managers lack data literacy. [1]
- To clarify, out of the 32%, only 27% say that they can make actionable insights from their analytical efforts. [1]
- Only 25% of new employees feel confident enough to use organizational data. [1]
- According to business intelligence stats, organizations in the United States lose upwards of $109 billion because of data errors. [1]
- In 2020, more than 51% of businesses that leveraged data analytics had a better financial performance. [1]
- According to statistics on business intelligence tools, more than half of the organizations that used data analytics increased their returns in 2020. [1]
- The average ROI for enterprises using business intelligence and analytics is 1300%. [1]
- 56% of organizations that utilized analytics in 2020 reported faster and effective decision. [1]
- The most challenging issues for self service business intelligence are data combination (20%) and data security (14%). [1]
- 15% of businesses don’t know they’ve already implemented self service business intelligence because of mislabeling. [1]
- According to stats of business intelligence, the rate has stayed 55% during the period. [1]
- 70% of respondents think that BI self. [1]
- According to business intelligence stats, 7.8 out of 10 businesses in the continent think it’s crucial. [1]
- 91% of users in small companies use self service BI to view tasks. [1]
- Meanwhile, 84% while micro companies are trailing with 78%. [1]
- IT is trailing behind. [1]
- 92% of IT leaders are willing to acquaint themselves with data skills. [1]
- According to data visualization statistics for 2021, it remains the best way to present data analysis from BI. [1]
- In March 2024, pending home sales were down 1.2% monthover. [10]
- Monthover month, contract signings increased in the Northeast and fell in the other three regions of the U.S. Commercial Cap Rates Likely to Keep Compressing in 2024. [10]
- Rising interest rates are likely to put some upward pressure on cap rates in 2024. [10]
- Home Price Index Accelerates to 19.8% in 2024. [10]
- Home prices rose at a surprising, accelerated pace of 19.8% yearover year in the past three months as of 2024. [10]
- According to Freddie Mac, the 30 year fixed mortgage rate rose to 5.11% from 5% the previous week. [10]
- Existing Home Sales Fall 2.7% and Mortgage Rates Rise March 2024 brought 5.77 million in sales, a median sales price of $375,300, and 2.0 months of inventory. [10]
- In fact, data quality issues cost the U.S economy an estimated $3.1 trillion per year. [4]
- Email collection forms were the most successful at converting viewers, with a 15% conversion rate in 2020. [5]
- Events placed at the beginning of videos perform the best, with a conversion rate of 12.7%. [5]
- 3.5% of ecommerce website visits via mobile are converted into purchases, compared to 3.9% on desktop. [5]
- Email visitors are the most likely to convert on forms — and people coming from search advertisements are the least likely. [5]
- The highest bounce rates are on social (45%) followed by direct (44%). [5]
- Almost 25% of companies invest in mobile optimization as a top SEO tactic. [5]
- And according to the Crayon 2020 State of Competitive Intelligence Report, a whopping 94% of businesses are investing in CI. [11]
- In fact, 90% of the respondents in the survey say their industry is now more competitive. [11]
- While only a little more than half (57%) have CI teams of two or more, it is 20% more than just two years ago (37%). [11]
- When it comes to collecting the data from competitors, research is the most time consuming task of CI for 36% of the respondents. [11]
- As to the top source of CI data, 98% of the respondents say the competitor’s website is the go. [11]
- Net premiums written $534.0 $558.4 $618.3 $639.5 $655.5 Percent change 2.6% 4.6% 10.7% 3.4% 2.5%. [12]
- 1 State Farm $70,311,695 8.9%. [12]
- MetLife Inc. $97,860,893 11.3% 2 Equitable Holdings 83,179,735 9.6 3 Prudential Financial Inc. 59,387,003 6.9 4. [12]
- Revenue Life insurance premiums $115.0 $137.1 $145.1 $151.0 $143.1 5.3% Annuity premiums and deposits 318.5 287.2 269.7. [12]
- Total premiums, consideration and deposits $599.9 $597.1 $603.2 $679.4 $625.7. [12]
- Total expenses $766.6 $759.4 $839.7 $842.8 $825.2. [12]
- $44.7 $22.1 50.5% Pre tax operating income 67.1 63.0 46.0. [12]
- 1 State Farm $70,311,695 8.9%. [13]
- MetLife Inc. $97,860,893 11.3% 2 Equitable Holdings 83,179,735 9.6 3 Prudential Financial Inc. 59,387,003 6.9 4. [13]
- 1 State Farm $19,717,03 17.9%. [13]
- Rank Group/company Direct premiums written Market share State Farm Mutual Automobile Insurance $4,665,754 6.0%. [13]
- 1 Progressive Corp. $8,674,980 16.%. [13]
- 1 Chubb Ltd. $19,399,859 5.5%. [13]
- Rank Group/company Direct premiums written Market share Travelers Companies Inc. $3,737,454 7.3% Hartford Financial Services. [13]
I know you want to use Market Intelligence Software, thus we made this list of best Market Intelligence Software. We also wrote about how to learn Market Intelligence Software and how to install Market Intelligence Software. Recently we wrote how to uninstall Market Intelligence Software for newbie users. Don’t forgot to check latest Market Intelligence statistics of 2024.
Reference
- financesonline – https://financesonline.com/20-essential-business-intelligence-statistics-analysis-of-trends-data-and-market-share/.
- techjury – https://techjury.net/blog/business-intelligence-statistics/.
- evalueserve – https://www.evalueserve.com/blog/competitive-intelligence-statistics/.
- iata – https://www.iata.org/en/services/statistics/intelligence/market-intelligence/.
- zoominfo – https://pipeline.zoominfo.com/marketing/market-intelligence.
- hubspot – https://www.hubspot.com/marketing-statistics.
- statista – https://www.statista.com/.
- bls – https://www.bls.gov/ooh/business-and-financial/market-research-analysts.htm.
- trustradius – https://www.trustradius.com/vendor-blog/business-intelligence-statistics-and-trends.
- idc – https://www.idc.com/.
- nar – https://www.nar.realtor/research-and-statistics.
- smallbiztrends – https://smallbiztrends.com/2020/01/competitive-intelligence-statistics.html.
- iii – https://www.iii.org/fact-statistic/facts-statistics-industry-overview.
- iii – https://www.iii.org/fact-statistic/facts-statistics-insurance-company-rankings.
How Useful is Market Intelligence
One of the key benefits of market intelligence is its ability to provide companies with a deep understanding of their customers’ needs and preferences. By gathering data on consumer behavior, purchasing patterns, and demographic information, companies can tailor their products and services to meet the specific needs of their target market. This not only helps businesses attract new customers but also retain existing ones, leading to increased customer loyalty and long-term success.
Furthermore, market intelligence can provide companies with valuable insights into their competitors’ strategies and market positioning. By monitoring competitor activities, such as product launches, marketing campaigns, and pricing strategies, businesses can identify potential threats and opportunities in the market. This allows companies to proactively adjust their own strategies to stay ahead of the competition and gain a competitive edge.
In addition to understanding customers and competitors, market intelligence also helps businesses identify emerging trends and opportunities in the market. By analyzing industry reports, market research, and consumer surveys, companies can stay current on shifts in consumer preferences, technological advancements, and market dynamics. This enables businesses to adapt quickly to changes in the market and seize new growth opportunities before their competitors do.
Moreover, market intelligence plays a critical role in strategic decision-making. By having access to relevant and up-to-date information, companies can make informed decisions about product development, marketing campaigns, and overall business strategy. This not only helps businesses minimize risks and uncertainties but also maximizes their chances of success in an increasingly competitive marketplace.
However, it is important to note that market intelligence is not a one-size-fits-all solution. Different businesses have different needs and objectives, and the effectiveness of market intelligence can vary depending on the industry, company size, and strategic focus. Some companies may benefit from in-depth market research and data analysis, while others may only require surface-level insights to support their decision-making process.
Overall, market intelligence is a valuable tool that can provide businesses with a strategic advantage in today’s complex and constantly evolving marketplace. By leveraging relevant and timely information about customers, competitors, and market trends, companies can make smarter decisions, drive growth, and stay ahead of the competition. Ultimately, market intelligence is not just useful – it is essential for businesses looking to thrive and succeed in the ever-changing business landscape.
In Conclusion
Be it Market Intelligence benefits statistics, Market Intelligence usage statistics, Market Intelligence productivity statistics, Market Intelligence adoption statistics, Market Intelligence roi statistics, Market Intelligence market statistics, statistics on use of Market Intelligence, Market Intelligence analytics statistics, statistics of companies that use Market Intelligence, statistics small businesses using Market Intelligence, top Market Intelligence systems usa statistics, Market Intelligence software market statistics, statistics dissatisfied with Market Intelligence, statistics of businesses using Market Intelligence, Market Intelligence key statistics, Market Intelligence systems statistics, nonprofit Market Intelligence statistics, Market Intelligence failure statistics, top Market Intelligence statistics, best Market Intelligence statistics, Market Intelligence statistics small business, Market Intelligence statistics 2024, Market Intelligence statistics 2021, Market Intelligence statistics 2024 you will find all from this page. 🙂
We tried our best to provide all the Market Intelligence statistics on this page. Please comment below and share your opinion if we missed any Market Intelligence statistics.