Business Intelligence Software - Czechia

In 2024, the projected revenue for the Business Intelligence Software market in Czechia is expected to reach US$72.91m.
It is anticipated that the market will display an annual growth rate (CAGR 2024-2029) of 5.51%, resulting in a market volume of US$95.32m by 2029.
Additionally, the projected average Spend per Employee in the Business Intelligence Software market in Czechia is set to reach US$13.57 in 2024.
In a global context, United States is expected to generate the highest revenue, reaching US$13.96bn in 2024.
The demand for Business Intelligence Software in Czechia is rapidly increasing as companies seek data-driven insights to gain a competitive edge.

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 (BI) software in Czechia has been increasing steadily in recent years, driven by several factors.

Customer preferences: Czech businesses are increasingly recognizing the importance of data-driven decision making, leading to a higher demand for BI software. Companies are looking for solutions that can help them analyze large amounts of data quickly and accurately, and provide actionable insights that can improve their operations and competitiveness.

Trends in the market: One trend that is driving the BI software market in Czechia is the growing popularity of cloud-based solutions. Cloud-based BI software allows companies to access data from anywhere, at any time, and can be more cost-effective than traditional on-premises solutions. Another trend is the increasing use of artificial intelligence (AI) and machine learning (ML) in BI software, which can help companies identify patterns and trends in their data that might be difficult to detect manually.

Local special circumstances: One unique aspect of the Czech BI software market is the presence of many small and medium-sized enterprises (SMEs). These companies often have limited resources and may be looking for more affordable BI software solutions that can still meet their needs. Additionally, the country's strong tradition of engineering and manufacturing has created a demand for BI software that can help companies optimize their production processes and supply chains.

Underlying macroeconomic factors: The Czech economy has been growing steadily in recent years, with a strong focus on exports and foreign investment. This has created a need for businesses to stay competitive and adapt to changing market conditions, leading to an increased demand for BI software. Additionally, the country's central location within Europe has made it an attractive location for multinational companies looking to expand their operations in the region, further driving demand for BI software.

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.