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Business Intelligence Software - Eastern Africa

Eastern Africa

The forecast for the Business Intelligence Software market in Eastern Africa suggests that the revenue will reach US$57.50m in 2024.
Furthermore, it is expected to experience a compound annual growth rate (CAGR 2024-2029) of 9.77%, resulting in a market volume of US$91.66m by 2029.
Additionally, the average Spend per Employee in this market segment is projected to reach US$0.26 in 2024.
In comparison to other countries globally, United States is anticipated to generate the highest revenue of US$13,960.00m in 2024.
Eastern Africa is experiencing a growing demand for Business Intelligence Software, as companies in the region strive for data-driven decision-making.

Key regions: United States, France, Germany, South Korea, Canada

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Analyst Opinion

The demand for Business Intelligence Software in Eastern Africa has been steadily increasing over the past few years.

Customer preferences: Customers in Eastern Africa are increasingly looking for Business Intelligence Software that is user-friendly, affordable, and can be easily integrated with their existing systems. They also prefer software that can provide real-time data analysis and visualization, as well as predictive analytics.

Trends in the market: Kenya and Tanzania are the largest markets for Business Intelligence Software in Eastern Africa. In Kenya, the market is being driven by the growth of the financial services sector, while in Tanzania, the manufacturing and telecom sectors are the main drivers. There is also a growing trend of businesses adopting cloud-based Business Intelligence Software, as it is more cost-effective and easier to manage.

Local special circumstances: One of the main challenges facing the Business Intelligence Software market in Eastern Africa is the lack of skilled professionals who can effectively use and manage the software. This has led to a growing demand for training and education programs that can help businesses develop the necessary skills in-house. Additionally, the high cost of internet connectivity and the limited availability of reliable internet infrastructure in some areas can also be a barrier to adoption.

Underlying macroeconomic factors: The economic growth in Eastern Africa has been relatively strong in recent years, which has led to an increase in business activity and a growing need for data analysis and insights. Additionally, the region has a large and growing population of young, tech-savvy professionals who are increasingly driving the demand for Business Intelligence Software. The increasing adoption of digital technologies and the growing importance of data-driven decision making are also contributing to the growth of the market.

Methodology

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.