Business Intelligence Software - Belgium

Belgium is projected to witness a significant growth in the Business Intelligence Software market, with revenue expected to reach US$146.30m by 2024.
This growth is anticipated to continue at an annual growth rate (CAGR 2024-2029) of 3.38%, resulting in a market volume of US$172.80m by 2029.
In terms of spending, the average Spend per Employee in the Business Intelligence Software market is projected to reach US$27.01 in 2024.
When compared globally, it is worth noting that United States is expected to generate the highest revenue in the Business Intelligence Software market, with an estimated revenue of US$13.96bn in 2024.
Belgium's growing demand for Business Intelligence software is driven by the need for data-driven decision-making in its thriving technology and manufacturing sectors.

Definition:

The Business Intelligence Software market covers software applications that support organizations in analyzing, visualizing, and reporting data. They are also used to present information in a business context and thus support rational business decisions. These applications help to access data, implement queries, create reports, and perform advanced predictive analytics.

Products in the Business Intelligence Software market can be obtained in two ways: as on-premises software that is sold via a transactional license or a subscription and as cloud-based software (software as a service/ SaaS) that is most frequently sold as a subscription.

Additional Information:

The Business Intelligence Software market comprises revenue and revenue growth as the key performance indicators. Only the revenues that are generated by primary vendors at the manufacturer price level either directly or through distribution channels (excluding value-added tax) are included and the revenues generated by resellers are excluded. Revenues are generated through both online and offline sales channels and include spending by enterprises (B2B) and governments (B2G).

Key players in this market include SAS Institute, SAP, and IBM.

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Reporting & analysis software, such as Zoho Analytics, IBM Cognos Analytics, and Domo
Advanced & predictive analytics, such as Tableau, Amazon Forecast, and Adobe Analytics

AI software platforms, such as OpenAI, Alphabet, and DeepMind
Supply chain and product analytics, such as Azure Machine Learning, Tableau, and Qlik Supply Chain Analytics
Analytic data management and integration, such as SAS, IBM, TIBCO, and DataStax
Analytics and performance management applications, such as Paycor, BambooHR, and Lattice

The demand for Business Intelligence Software in Belgium has been increasing steadily in recent years, driven by the need for data-driven decision making and the growing importance of analytics in business operations.

Customer preferences: Belgian businesses are increasingly looking for Business Intelligence Software that can provide real-time data analysis and insights. They are also looking for solutions that are easy to use and can integrate with existing systems. Additionally, there is a growing demand for cloud-based solutions that can provide flexibility and scalability.

Trends in the market: One of the key trends in the Belgian Business Intelligence Software market is the increasing adoption of advanced analytics and artificial intelligence. This is driven by the need for more accurate and predictive insights, as well as the growing availability of data and the need to process it more efficiently. Another trend is the growing importance of mobile BI, as businesses seek to access data and insights on the go.

Local special circumstances: Belgium has a highly developed IT infrastructure and a strong culture of innovation, which has helped to drive the growth of the Business Intelligence Software market. Additionally, the country has a highly educated workforce and a large number of small and medium-sized enterprises, which are increasingly looking for solutions to help them compete with larger companies.

Underlying macroeconomic factors: The Belgian economy has been growing steadily in recent years, which has helped to create a favorable environment for the Business Intelligence Software market. Additionally, the country has a highly skilled workforce and a favorable business environment, which has attracted a large number of international companies to set up operations in the country. Finally, the Belgian government has been investing heavily in digital infrastructure and innovation, which has helped to drive the growth of the Business Intelligence Software market.

Data coverage:

The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the allocation to the country where the money was spent at manufacturer price level (excluding VAT).

Modeling approach / Market size:

The segment size is determined through a top-down approach. We use financial statements such as annual reports, quarterly earnings, and expert opinions to analyze the markets. To estimate the segment size for each country individually, we use relevant key market indicators and data from country-specific industry associations such as GDP, level of digitization, GDP sector composition, and observed level of software piracy.

Forecasts:

We use a variety of forecasting techniques, for instance, advanced statistical methods, depending on the behavior of the relevant segment. The main drivers are the GDP and the level of digitization.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Technology market, in a PDF format.

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These activities are planned and put into stages in a logical order, a process known as the software development life cycle (SDLC) or software development. The SDLC often includes six stages: requirement analysis, design, development, testing, implementation, documentation, and evolution. Programming languages such as JavaScript and C++ are used to create software, with JavaScript being the most popular programming language in 2023 and used by roughly 65 percent of software developers.