Business Intelligence Software - Ghana

The Business Intelligence Software market in Ghana is expected to witness significant growth in the coming years.
According to projections, the revenue in this market is set to reach US$11.28m in 2024.
This growth is further expected to continue with an annual growth rate (CAGR 2024-2029) of 7.24%, resulting in a market volume of US$16.00m by 2029.
Additionally, it is worth noting that the average Spend per Employee in the Business Intelligence Software market is projected to reach US$0.75 in 2024.
This indicates the value and importance placed on this sector in Ghana.
In terms of global comparison, it is anticipated that United States will generate the highest revenue in the Business Intelligence Software market, with a projected value of US$13.96bn in 2024.
This highlights the dominance of the US market in this industry.
The demand for Business Intelligence Software in Ghana is rapidly growing as companies seek to enhance data-driven decision-making.

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 demand for Business Intelligence Software in Ghana has been on the rise in recent years, with an increasing number of companies adopting these tools to gain insights into their operations and make better decisions.

Customer preferences: Ghanaian businesses are increasingly recognizing the value of data-driven decision-making, and are turning to Business Intelligence Software to help them achieve this. These tools enable companies to collect, analyze, and visualize data from various sources to gain insights into their operations, customers, and market trends. With the increasing availability of data, businesses are looking for ways to make sense of it all, and Business Intelligence Software provides a solution.

Trends in the market: The Business Intelligence Software market in Ghana is characterized by the emergence of local players offering customized solutions to meet the specific needs of Ghanaian businesses. These companies are leveraging their knowledge of the local market to provide tailored solutions that address the unique challenges faced by Ghanaian businesses. Additionally, cloud-based solutions are becoming increasingly popular, as they offer greater flexibility and scalability than traditional on-premise solutions.

Local special circumstances: One of the key challenges facing businesses in Ghana is the lack of reliable data. Many businesses struggle to collect and analyze data effectively, and this can hinder their ability to make informed decisions. Additionally, the cost of Business Intelligence Software can be a barrier for some businesses, particularly smaller ones. However, local players are addressing these challenges by offering affordable solutions and providing training and support to help businesses make the most of these tools.

Underlying macroeconomic factors: Ghana's economy has been growing steadily in recent years, with a focus on diversifying the economy away from its traditional reliance on natural resources. This has led to the emergence of new industries and businesses, many of which are looking for ways to gain a competitive edge. Business Intelligence Software provides a way for these businesses to make data-driven decisions and improve their operations. Additionally, Ghana's government has been investing in the country's ICT infrastructure, which has helped to create an enabling environment for the growth of the Business Intelligence Software market.

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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