Business Intelligence Software - Finland

In 2024, the projected revenue in the Business Intelligence Software market in Finland is estimated to reach US$132.60m units.
This is expected to exhibit a steady annual growth rate (CAGR 2024-2029) of 3.30%, resulting in a market volume of US$155.90m units by 2029.
Furthermore, it is anticipated that the average Spend per Employee in the Business Intelligence Software market in Finland will reach US$45.98 units in 2024.
In a global comparison, it is noteworthy that United States is expected to generate the highest revenue, reaching US$13.96bn units in 2024.
Finland's thriving tech ecosystem and data-driven culture have made it a hub for innovative 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.

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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 popularity of Business Intelligence Software (BI) in Finland has been on the rise in recent years.

Customer preferences: Finnish companies have shown a growing interest in BI software as they seek to improve their decision-making processes. The software's ability to analyze large amounts of data and provide insights into customer behavior, market trends, and business operations is highly valued by Finnish businesses. Additionally, the demand for cloud-based BI solutions has increased as companies look to reduce their IT costs and improve flexibility.

Trends in the market: One trend in the Finnish BI market is the increasing use of self-service BI tools. These tools allow business users to access and analyze data without the need for IT assistance, enabling faster and more efficient decision-making. Another trend is the integration of BI software with other business applications, such as CRM and ERP systems. This integration enables companies to gain a more comprehensive view of their operations and make more informed decisions.

Local special circumstances: Finland's strong focus on technology and innovation has contributed to the growth of the BI market. The country has a highly skilled workforce and a strong startup ecosystem, which has led to the development of innovative BI solutions. Additionally, the Finnish government has invested heavily in digital infrastructure, making it easier for companies to adopt and use BI software.

Underlying macroeconomic factors: Finland's economy has been steadily growing in recent years, which has contributed to the growth of the BI market. The country has a strong technology sector, which has been a driver of economic growth. Additionally, Finland has a high level of internet penetration, which has made it easier for businesses to adopt and use BI software. Finally, the country's focus on sustainability and environmentalism has led to the development of BI solutions that help companies reduce their carbon footprint and operate more sustainably.

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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