IT organizations are gaining an upper hand with the adoption of BVDs and are leveraging IT metrics with key business indexes. The business value dashboard market is projected to have a rapid-paced CAGR of 17.3% during the forecast period.
The current valuation of the business value dashboard market is USD 1290.0 million in 2022. The market value of the business value dashboard market is estimated to reach a high of USD 6350.0 million by the year 2032.
| Report Attribute | Details |
|---|---|
| Business Value Dashboard Market Value (2022) | USD 1290.0 Million |
| Business Value Dashboard Market Anticipated Value (2032) | USD 6350.0 Million |
| Business Value Dashboard Projected Growth Rate (2022 to 2032) | 17.3% |
The growing need for validation, analysis, and communication amongst the different verticals of organizations is fueling the adoption and deployment of business value dashboards to ease up the procedures within the interconnected resources.
Micro-focus business value dashboards are alleviating the conveniences for end users by adding personalization facilities for figuring out the bottlenecks within the thousands of unities and curating dashboards comprehensive to the exact needs. Therefore, it is anticipated that the business value dashboard market is likely to have steady growth during the upcoming years and revolutionize the way organizational concerns are approached.
| DRIVERS | The vast volume of data in it and other industries which needs to monitor and understand is a major driver for the business value dashboard market. |
|---|---|
| RESTRAINTS | Technophobia and reluctance the adoption of new technology |
| OPPORTUNITIES | Integration of automated analysis and results for the business value dashboard |
| THREATS | High costs involved in migration and system infrastructure deployment |
It is anticipated that the IT sector would majorly drive the demand for business value dashboard trends during the forecast period. To support the ongoing regulations and compliances, coupled with an augmentation of transparency and unified integration, the information technology sector is expected to fuel the market expansion for business value dashboards.
The manufacturers are also introducing AI-powered products to increase the AI capabilities of analytics. This would help in real-time analysis and effective decision-making, with the dynamic representation of data, further fueling the growth of the BVD market during the period 2022 to 2032. The business value dashboard is also expected to help the incumbents of various industries such as BFSI and manufacturing, proving to be beneficial by ensuring the accuracy of information and risk management.
However, certain challenges are also anticipated that are likely to inhibit the growth of the business value dashboard market in the coming years. It is witnessed that the changing data according to the location of the offices is posing challenges for data procurement. Furthermore, the high expenses incurred can also limit the growth of the BVD market in the upcoming years.
| Segment | Software Segment (By Services) |
|---|---|
| Recorded Share in Base Year | The software segment accounted for the largest revenue share of over 76.4% in 2021. |
| Description | The importance of business value dashboards boosting the adoption of BVDs by small and medium enterprises is anticipated to drive the growth of the software segment in the coming years. Several firms are adopting business value dashboards to fulfill regulatory compliances, including data privacy needs and financial reporting, discarding duplication of data, and improving organizational productivity. |
| Segment | On-Premise Segment (By Deployment) |
|---|---|
| Recorded Share in Base Year | The on-premise segment held a revenue share of over 45% in 2021. |
| Description | Several organizations are shifting from manual systems to automated systems to carry out various operations. This has triggered the demand for on-premise software. Several organizations are availing of on-premise deployment due to increased security features. |
| Segment | Large Enterprise Segment (By Enterprise Size) |
|---|---|
| Recorded Share in Base Year | The large enterprise segment held the highest market share of 67.3% in 2021. |
| Description | The rising adoption can be attributed to robust monitoring solutions and automation capabilities for resource allocation and strategic decision-making across large firms. Therefore, the BVD market is likely to propel further with wide adoption by the concerned enterprises. |
It is projected that the business value dashboard market is currently dominated by the North American regions, specifically by the USA and Canada with a considerable share of 29.5%, owing to numerous factors.
Increasing demand for risk management solutions and the rise in requirement of on-time authentic information. The presence of the biggies of the market is putting a strong emphasis on the digital transformation of this region and North America is being considered one of the early adopters of next-generation technologies.
According to Canadian Radio-Television and Telecommunications Commission (CRTC), the Canadian telecom industry achieved a growth rate of 3.2% in recent years, which in turn is likely to fuel the BVD market.
Europe is likely to hold the second largest share and the expanding market size of business value dashboards in Germany and Italy, the expansion can be attributed to fast adopting solutions in the various end-user industries such as utilities, manufacturing, and more.
How are The New Entrants Stirring Up the BVD market?
The performance of the start-ups is continually getting optimized with the utilization of new trends in the market and through indulgences in continuous integration and deployment of more advanced features in the business value dashboards.
Databricks - Databricks was established in 2013 by the developers of Apache SparkTM, Delta Lake, and MLflow, all of whom had their start in academia or the open-source community. Databricks is the first and only cloud-based lakehouse platform, merging the advantages of traditional data warehouses with those of newer, more flexible data lakes.
Databricks is used by over 7,000 companies throughout the globe today to provide massive-scale data engineering, collaborative data science, full-lifecycle machine learning, and business analytics.
Arcion - It is a Mumbai-based cloud-based start-up that provides data pipeline solutions. With its help, customers can set up real-time data pipelines, as the platform is a business intelligence platform with zero-code data mobility options. Data capture, validation, and transformation are just some of the several services it offers.
Market Leaders and Their Expansionary Development Strategies
The market players in the business value dashboard market are enabling open innovation. The manufacturers are paying keen attention to continually upgrading their solutions for expanding the market share of business value dashboards.
The companies can be seen engaging in mergers & acquisitions and partnerships to further upgrade their products and gain a competitive advantage in the market. They are effectively working on new product development, and enhancement of existing products to acquire new customers and capture more market shares.
Recent Developments
| Attributes | Details |
|---|---|
| Growth Rate | CAGR of 17.3% from 2022 to 2032 |
| The base year for Estimation | 2021 |
| Historical Data Available for | 2016 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis. |
| Segments Covered | By Component, By Segmentation, By Verticals, Region |
| Regions Covered | North America; Latin America; Asia Pacific; Japan; Western Europe; Eastern Europe; Middle East & Africa |
| Key Countries Profiled | The United States of America, Canada, Brazil, Argentina, Germany, The United Kingdom, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, GCC Countries, South Africa |
| Key Companies Profiled | Hewlett Packard Enterprise; Interlink Software Services Ltd.; eMite; Salesforce.com; PureShare by TeamQuest; Proxima Software Solutions; Tableau Software; International Business Machines Corporation; ServiceClarity |
| Customization | Available upon Request |
The business value dashboard market is anticipated to register a CAGR of 17.3% through 2032.
The business value dashboard market is estimated at around USD 1,290.0 Million in 2022.
The business value dashboard market is poised to be valued at USD 6,350.0 Million by 2032.
The North American region captures a share of 29.5% of the business value dashboard market.
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Business Value Dashboard Market
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