IDC: China's business intelligence software market is expected to reach US$1.33 billion by 2025

According to the "China Business Intelligence Software Market Data Tracking Report for the Second Half of 2020" recently released by IDC on July 8, the scale of China's business intelligence software market in 2020 was US$580 million, a year-on-year increase of 17.1%. It is expected that by 2025, the scale of China's business intelligence software market will reach US$1.33 billion, and the overall market will have an annual compound growth rate of 17.9% in the next five years.

IDC pointed out that Chinese enterprises are more inclined to choose traditional deployment models due to factors such as data security, industry supervision, and compliance requirements. China's public cloud business intelligence products have yet to be cultivated. As enterprises and data move to the cloud, it is expected that public cloud business intelligence products will begin to show widespread demand in 2-3 years. IDC predicts that by 2025, China's public cloud business intelligence market will account for 24.9% of the total market.

Wang Nan, senior analyst of IDC China Enterprise Software Market, said: "Business intelligence software, as an important software product for mining and presenting data value, has become one of the essential tools for enterprises' digital transformation. IDC data shows that with the development of cloud computing, mobile, IoT, 5G and other technologies, the amount of data created globally in the next three years will exceed the total amount of data created in the past 30 years, and business intelligence software will usher in deeper and broader application scenarios."

In the era of big data, valuable data will be generated in any field. Enterprises need better and smarter technologies to analyze data and help them make better decisions, which also brings new opportunities for the development of business intelligence.