Business Intelligence Software - Greece

In 2024, the projected revenue for the Business Intelligence Software market in Greece is expected to reach US$16.95m.
It is anticipated that this revenue will experience an annual growth rate of 3.93% (CAGR 2024-2029), resulting in a market volume of US$20.55m by 2029.
Furthermore, the average Spend per Employee in the Business Intelligence Software market in Greece is projected to reach US$3.51 in 2024.
When compared globally, it is worth noting that United States is expected to generate the highest revenue, amounting to US$13.96bn in 2024.
Despite the economic challenges faced by Greece, the demand for Business Intelligence Software in the country remains steady due to a growing focus on 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 Business Intelligence Software market in Greece has been showing positive growth in recent years.

Customer preferences: One of the main customer preferences in Greece is for Business Intelligence Software that is user-friendly and easy to navigate. Greek businesses also tend to prefer software that can be customized to their specific needs and that can integrate with other software systems they are already using.

Trends in the market: One trend in the Greek market is an increasing demand for cloud-based Business Intelligence Software solutions. This is partly due to the fact that cloud-based software is often more affordable for small and medium-sized businesses, which make up a large portion of the Greek market. Another trend is the increasing use of data visualization tools in Business Intelligence Software. This allows businesses to more easily identify patterns and trends in their data, which can help them make more informed decisions.

Local special circumstances: Greece has been facing economic challenges in recent years, which has led to a greater emphasis on cost-effectiveness in the business world. This has made affordable Business Intelligence Software solutions particularly attractive to Greek businesses. Additionally, Greece has a relatively small market compared to other European countries, which has led to a greater focus on customization and personalized service in the Business Intelligence Software industry.

Underlying macroeconomic factors: The Greek economy has been slowly recovering from the financial crisis of the late 2000s, but still faces challenges such as high unemployment and a large public debt. Despite these challenges, there has been a growing interest in entrepreneurship and innovation in Greece in recent years, which has created opportunities for the Business Intelligence Software industry. Additionally, Greece's location at the crossroads of Europe, Asia, and Africa has made it an attractive location for businesses looking to expand into new markets, which has further fueled demand for Business Intelligence Software 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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