The global data and analytics software market reached $141.91 billion in 2024 and is expected to grow at a compound annual growth rate of 13.6 percent through 2023, according to a report from Grand View Analysis.

Data analytics, business intelligence, and data visualization software are critical components of the big data technology stack. They provide the means of deriving value from big data and are used by both everyday business users and professional analysts to gain insight and understanding from rapidly growing volumes of data. These software companies offer a range of solutions, from self-service reporting and data visualization tools for non-technical users to high-performance data analytics software needed by analysts to tackle complex business intelligence tasks.

Key Players in the Data Analytics and Business Intelligence Space

Alteryx

• Offers the Alteryx AI Platform for Enterprise Analytics, a leading data analytics and visualization platform.
• Provides built-in data connectivity, preparation, and quality management functionality.
• Has a generative AI engine called AiDIN, launched in 2023.

AtScale

• Develops universal semantic layer technology that sits between data sources and the tools used by data consumers.
• Provides access to data for analytics, business context for generative AI applications, and trusted, consistent metrics for line-of-business operations.
• Improves text-to-SQL accuracy with its Natural Language Query capabilities.

Domo

• Offers core business intelligence software that provides managers with a way to access and visualize critical business metrics on mobile devices.
• Has an AI and data products platform that connects and prepares data from many sources and builds analytics and AI software and data products.
• Debuted Domo Agent Catalyst, an addition to the Domo AI portfolio, for creating intelligent, autonomous AI agents that can analyze and complete entire business processes.

Hex Technologies

• Provides a collaborative data science and analytics workspace where data teams and business users can share analytical results.
• Combines the capabilities of traditional data science notebooks with integrated AI assistance, data applications, and reports.
• Launched a Consulting Partner Program to work with partners who provide data consulting services around data strategy, database implementation, and analytics transformation.

Incorta

• Develops a unified data and analytics platform that cuts through the complexity and costs of traditional data preparation and transformation processes.
• Enables analysis directly on raw data from ERP, CRM, and other operational systems.
• Lists Google Cloud and Workday as key technology partners.

Kyligence

• Offers its AI-powered Kyligence Zen intelligent metrics platform to address inconsistent data metrics throughout an organization.
• Has a Kyligence Enterprise data analytics platform for SQL analytics on petabyte-scale datasets.
• Its technology is based on the Apache Kylin OLAP engine.

MotherDuck

• Debuted the initial release of its serverless MotherDuck Cloud Analytics Platform in June 2023, combining cloud and embedded database technology.
• Became generally available in June 2024.
• Raises $52.5 million in Series B funding in September 2023 for a total of $100 million.

Pyramid Analytics

• Provides a self-service reporting and business intelligence platform that brings data preparation, business analytics, and data science together.
• Has launched its Generative BI conversational analytics software that provides analytics initiated by speech.
• Secured $50 million in new financing from BlackRock Capital Investment Advisors in November.

Qlik

• Best known for its business intelligence software, Qlik is also a major player in the big data space.
• Has a range of data integration, data quality, and data analytics products.
• Acquired Talend in May 2023, expanding its data integration and ingestion capabilities.
• Debuted Upsolver, a developer of real-time streaming and Apache Iceberg optimization technology.

Salesforce/Tableau

• Is a major player in the data analytics space with its CRM Analytics, Tableau data visualization tool, and Einstein Discovery statistical modeling and machine learning software.
• Unveiled Tableau Next, an AI agent-powered analytics service built on the Salesforce platform.
• Lists Salesforce Data Cloud as its hyperscale data engine.

SAS

• Is a major player in the big data space with its business intelligence, data analytics, and AI software.
• Has a flagship SAS Viya data, analytics, and AI platform.
• Boosted its generative AI software portfolio with the acquisition of Hazy, a developer of synthetic data generation technology.

Sisense

• Offers a business intelligence and analytics platform designed to help businesses and organizations analyze and visualize complex data.
• Has built-in data integration and data preparation capabilities.
• Has focused on marketing its platform to software companies building data-intensive products.

Strategy

• Is a cloud-native business intelligence and AI platform that remains popular despite rebranding from MicroStrategy.
• Debuted the latest release of its flagship Strategy One platform in October 2024 with new capabilities.
• Boosted the functionality of its Auto AI assistant.

ThoughtSpot

• Is a leader in the data analytics space with its ThoughtSpot Intelligence Platform and AI-powered business intelligence capabilities.
• Sees AI agentic analytics as a big part of the future of BI.
• Launched Spotter, an agentic AI analyst tool, in November.
• Added deep reasoning and data literacy functionality to Spotter.

Other Key Players

Definition:

*

: the process of examining data sets to draw conclusions about the information they contain. *

: the process of converting raw data into a format that is easier to understand and interpret. *

: the process of combining data from different sources into a single platform. *

: the process of cleaning, transforming, and organizing data for analysis.

Key Takeaways

* The data analytics and business intelligence software market is expected to continue growing at a compound annual growth rate of 13.6 percent through 2023. * The market is dominated by a range of vendors, including Alteryx, AtScale, Domo, Hex Technologies, Incorta, Kyligence, MotherDuck, Pyramid Analytics, Qlik, Salesforce/Tableau, SAS, Sisense, Strategy, and ThoughtSpot. * These vendors offer a range of solutions, from self-service reporting and data visualization tools to high-performance data analytics software. * The market is expected to continue to evolve with the adoption of new technologies, including AI, machine learning, and cloud computing.

Conclusion

The data analytics and business intelligence software market is a rapidly evolving space, with a range of vendors offering a range of solutions. As the market continues to grow at a compound annual growth rate of 13.6 percent through 2023, it is essential for solution providers to stay up-to-date with the latest developments and trends. By understanding the key players in the market, including Alteryx, AtScale, Domo, Hex Technologies, Incorta, Kyligence, MotherDuck, Pyramid Analytics, Qlik, Salesforce/Tableau, SAS, Sisense, Strategy, and ThoughtSpot, solution providers can make informed decisions about which vendors to partner with and how to meet the evolving needs of their customers.