Key regions: United States, France, Germany, South Korea, Canada
The Business Intelligence Software market in CIS is rapidly evolving with the increasing adoption of digital transformation across industries in the region.
Customer preferences: Enterprises in CIS are increasingly adopting Business Intelligence Software to gain insights into their business operations and improve decision-making processes. The demand for cloud-based Business Intelligence Software is also on the rise, as it offers scalability, cost-effectiveness, and flexibility to businesses of all sizes. Moreover, businesses are looking for solutions that can integrate with their existing systems and provide real-time analytics.
Trends in the market: The Business Intelligence Software market in Russia is expected to grow in the coming years, owing to the increasing adoption of data analytics solutions by various industries, including healthcare, retail, and finance. The market is also witnessing the emergence of new players, offering innovative solutions to meet the evolving needs of businesses. In Kazakhstan, the demand for Business Intelligence Software is driven by the growth of the e-commerce industry and the need for real-time analytics to improve customer experience. In Ukraine, the market is expected to grow due to the increasing adoption of cloud-based solutions and the rising demand for predictive analytics.
Local special circumstances: The political and economic instability in some CIS countries is a major challenge for the growth of the Business Intelligence Software market. The ongoing conflict between Russia and Ukraine has also affected the market in the region. Moreover, the lack of awareness about the benefits of data analytics solutions among small and medium-sized enterprises (SMEs) is hindering the growth of the market.
Underlying macroeconomic factors: The increasing focus on digital transformation by governments and businesses in CIS is driving the growth of the Business Intelligence Software market. The region is also witnessing a rise in the number of startups, which are leveraging data analytics to gain a competitive edge in the market. Moreover, the increasing adoption of cloud computing and the growing use of mobile devices are creating new opportunities for the market players. However, the high cost of implementation and the shortage of skilled professionals are some of the challenges faced by the market in the region.
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.
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