Business Intelligence Software - Estonia

The forecast for the Business Intelligence Software market in Estonia indicates that the revenue is expected to reach US$4.51m in 2024.
This projection suggests a steady growth rate of 6.16% per year, resulting in a market volume of US$6.08m by 2029.
It is noteworthy to mention that the average Spend per Employee in the Business Intelligence Software market is estimated to reach US$5.97 in 2024.
In terms of global comparison, it is anticipated that United States will generate the highest revenue, amounting to US$13.96bn in 2024.
Estonia's thriving tech ecosystem and digital infrastructure make it a prime market for innovative and user-friendly business intelligence software solutions.

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.

For more information on the displayed data, use the info button right next to the boxes.

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 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.

This report presents a comprehensive analysis and additional information on the Technology market, in a PDF format.

Imagine a world without the apps you use daily, the games you enjoy, or the websites you rely on. Software development is the invisible hand behind this digital magic, transforming ideas into the tools that shape our lives. Software development is the process of creating, designing, deploying, and supporting software. It includes all the computer activities between the software's conception and final manifestation.

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.