Business Intelligence Software - Laos

Laos is expected to witness a significant growth in revenue within the Business Intelligence Software market.
By 2024, the projected revenue is estimated to reach US$1.28m.
This growth is anticipated to continue with an annual growth rate of 5.62% from 2024 to 2029, resulting in a market volume of US$1.68m.
Moreover, the average Spend per Employee in the Business Intelligence Software market is projected to reach US$0.40 by 2024.
It is worth noting that in terms of global comparison, United States is expected to generate the highest revenue with US$13.96bn in 2024.
The adoption of business intelligence software in Laos is steadily growing, enabling companies to gain valuable insights and make data-driven decisions.

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 Laos has been steadily increasing in recent years.

Customer preferences: Laotian businesses are increasingly looking for ways to improve their decision-making processes and gain a competitive edge. This has led to a growing demand for Business Intelligence Software that can provide real-time insights into key business metrics such as sales, inventory, and customer behavior. Additionally, as more businesses in Laos expand their operations into other countries in the region, there is a need for software that can help them analyze and understand data from multiple sources.

Trends in the market: One of the key trends in the Business Intelligence Software market in Laos is the increasing adoption of cloud-based solutions. Cloud-based software offers many advantages over traditional on-premise solutions, including lower upfront costs, greater scalability, and easier access to data from multiple locations. Another trend is the growing use of mobile devices for business intelligence purposes. With more and more employees working remotely or on-the-go, there is a need for software that can be accessed from anywhere and on any device.

Local special circumstances: One of the unique factors driving the growth of the Business Intelligence Software market in Laos is the country's rapidly expanding economy. As the economy grows, businesses are looking for ways to stay competitive and make better decisions. Additionally, the government of Laos has been actively promoting the development of the country's technology sector, which has helped to create a favorable environment for software companies.

Underlying macroeconomic factors: The Business Intelligence Software market in Laos is also influenced by broader macroeconomic trends in the region. For example, the growing importance of the ASEAN Economic Community (AEC) has led to increased cross-border trade and investment, which in turn has created a need for software that can help businesses navigate the complexities of doing business in multiple countries. Additionally, Laos is located in a region that is experiencing rapid technological change and innovation, which is driving demand for new and innovative 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.

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.