Key regions: Germany, United States, Canada, South Korea, United Kingdom
The demand for Business Intelligence Software in Estonia has been increasing steadily over the past few years.
Customer preferences: Estonian companies are showing a growing interest in Business Intelligence Software due to its ability to provide valuable insights and analytics into their business operations. The software's ability to provide real-time data analysis, predictive analytics, and data visualization tools make it an attractive option for companies looking to make data-driven decisions.
Trends in the market: One of the major trends in the Estonian Business Intelligence Software market is the increasing adoption of cloud-based solutions. Cloud-based BI software offers several advantages over traditional on-premise solutions, including lower costs, greater scalability, and easier integration with other cloud-based applications. Additionally, the rise of big data and the Internet of Things (IoT) has increased the demand for BI software that can handle large volumes of data and provide real-time analytics.
Local special circumstances: Estonia has a highly developed digital infrastructure, with a high level of internet penetration and a tech-savvy population. This has created a favorable environment for the adoption of BI software, as companies are more willing to invest in technology and digital solutions. Additionally, Estonia has a thriving startup scene, with many innovative companies developing new BI software solutions that cater to the specific needs of Estonian businesses.
Underlying macroeconomic factors: Estonia has a small but growing economy, with a focus on technology and innovation. The country has a highly skilled workforce and a favorable business environment, which has attracted many international companies to set up operations in Estonia. This has created a demand for BI software that can help these companies manage their operations and make data-driven decisions. Additionally, Estonia is a member of the European Union, which provides access to a large market and favorable trade agreements.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
