Business Intelligence Software - GCC

The Business Intelligence Software market in the GCC is expected to achieve a revenue of US$165.10m by the year 2024.
This projection indicates that the market will experience a steady growth rate of 4.73% annually from 2024 to 2029, resulting in a market volume of US$208.00m by 2029.
Additionally, it is anticipated that the average Spend per Employee in the Business Intelligence Software market will amount to US$5.24 in 2024.
In terms of global comparison, it is noteworthy that United States is projected to generate the highest revenue, amounting to US$13.96bn in 2024.
"GCC companies are increasingly adopting business intelligence software to gain competitive edge in the rapidly growing software market."

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

Amidst the growing digital transformation and technological advancements in the Gulf Cooperation Council (GCC) countries, the Business Intelligence Software market is rapidly evolving.

Customer preferences: The GCC region is witnessing a significant shift in customer preferences towards Business Intelligence (BI) solutions. Enterprises are adopting BI software to gain insights into their business operations and make informed decisions. Companies are increasingly seeking solutions that can provide real-time data analytics, predictive analysis, and data visualization. Additionally, the demand for cloud-based BI solutions is also rising, as it offers flexibility, scalability, and cost-effectiveness.

Trends in the market: The BI software market in the GCC region is witnessing a surge in demand due to several trends. Firstly, the increasing adoption of big data analytics is driving the demand for BI software. Companies are looking for solutions that can handle large volumes of data, extract meaningful insights, and provide actionable recommendations. Secondly, the rise of artificial intelligence (AI) and machine learning (ML) is also fueling the growth of the BI software market. These technologies can automate data analysis, identify patterns, and provide accurate predictions. Thirdly, the growing popularity of self-service BI is another trend that is shaping the market. Companies are looking for solutions that can empower their employees to access, analyze, and visualize data without any technical expertise.

Local special circumstances: The GCC region has unique characteristics that are driving the growth of the BI software market. Firstly, the region has a high concentration of small and medium-sized enterprises (SMEs) that are increasingly adopting digital technologies. These companies are looking for cost-effective solutions that can help them gain a competitive edge. Secondly, the region has a diverse economy with several industries such as oil and gas, healthcare, and retail. Each industry has unique data requirements, and BI software can help them gain insights into their operations. Finally, the region has a young and tech-savvy population that is driving the demand for digital solutions.

Underlying macroeconomic factors: The GCC region has several macroeconomic factors that are supporting the growth of the BI software market. Firstly, the region has a high GDP per capita, which indicates a high standard of living and purchasing power. This allows companies to invest in digital technologies such as BI software. Secondly, the region has a favorable business environment with low taxes and regulations, which encourages entrepreneurship and innovation. Finally, the region has a strategic location between Asia, Europe, and Africa, which makes it an attractive destination for multinational companies. These companies are looking for solutions that can help them manage their operations across different regions.

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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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.