Business Intelligence Software - CIS

The revenue forecast for the Business Intelligence Software market in the CIS region is estimated to reach US$250.00m by the year 2024.
It is anticipated to experience a steady annual growth rate (CAGR 2024-2029) of 4.48%, resulting in a market volume of US$311.20m by 2029.
Moreover, the projected average spend per employee in this market segment is expected to reach US$2.16 in 2024.
When compared on a global scale, United States is expected to generate the highest revenue in this market, amounting to US$13.96bn in 2024.
In the CIS market, there is a growing demand for Business Intelligence Software as companies strive to gain insights and make data-driven decisions.

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 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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