Key regions: United States, France, Germany, South Korea, Canada
The demand for Business Intelligence Software in EU-27 has been on the rise in recent years, driven by several factors that have made it essential for businesses to adopt these solutions.
Customer preferences: Customers in the EU-27 region have increasingly been looking for ways to leverage their data to gain a competitive advantage. Business Intelligence Software allows businesses to collect, analyze, and visualize data from various sources, enabling them to make informed decisions and improve their operations.
Trends in the market: One of the major trends in the EU-27 Business Intelligence Software market is the increasing adoption of cloud-based solutions. Cloud-based solutions offer several advantages such as scalability, cost-effectiveness, and ease of use. Another trend is the growing popularity of self-service BI tools that allow non-technical users to access and analyze data without the need for IT assistance. Additionally, there has been a shift towards mobile BI solutions that allow users to access data on-the-go.
Local special circumstances: The EU-27 region comprises several countries with different languages, cultures, and regulations. This has created a demand for Business Intelligence Software solutions that can cater to the specific needs of each country. Additionally, the EU’s General Data Protection Regulation (GDPR) has made it essential for businesses to ensure the privacy and security of their data, leading to an increased demand for BI solutions that comply with these regulations.
Underlying macroeconomic factors: The EU-27 region has a large and diverse economy, with several industries such as healthcare, finance, and retail driving the demand for Business Intelligence Software. Additionally, the region has a highly skilled workforce, making it easier for businesses to adopt and implement these solutions. The COVID-19 pandemic has also accelerated the adoption of BI solutions as businesses look for ways to navigate the rapidly changing business environment.In conclusion, the EU-27 Business Intelligence Software market is growing due to the increasing demand for data-driven insights and the adoption of cloud-based, self-service, and mobile BI solutions. The region’s diverse economy, skilled workforce, and regulatory environment are also driving the adoption of these solutions.
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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