Business Intelligence Software - North America

The projected revenue in the Business Intelligence Software market in North America is estimated to reach US$15.01bn in 2024.
It is expected to exhibit an annual growth rate of 4.39% (CAGR 2024-2029), resulting in a market volume of US$18.61bn by 2029.
The average Spend per Employee in the Business Intelligence Software market in North America is projected to reach US$58.82 in 2024.
In comparison to other countries, United States is expected to generate the highest revenue, with US$13.96bn in 2024.
North America is experiencing a surge in demand for Business Intelligence Software, with companies increasingly relying on data-driven insights to drive their decision-making processes.

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 North America has been experiencing significant growth in recent years.

Customer preferences: North American customers are increasingly looking for Business Intelligence Software that can provide real-time data analysis and visualization, allowing them to make more informed business decisions. They also prefer solutions that are user-friendly and can integrate with other software systems.

Trends in the market: One major trend in the North American Business Intelligence Software market is the increasing adoption of cloud-based solutions. This is driven by the need for more flexible and scalable solutions that can be accessed from anywhere. Another trend is the growing use of artificial intelligence and machine learning in Business Intelligence Software, which can help to automate data analysis and provide more accurate insights.

Local special circumstances: The North American market is highly competitive, with many established players and new entrants vying for market share. This has led to a focus on innovation and differentiation, with companies seeking to offer unique features and capabilities to stand out from the crowd.

Underlying macroeconomic factors: The strong North American economy has been a key driver of growth in the Business Intelligence Software market. As companies look to capitalize on this growth, they are investing more in technology solutions that can help them to optimize their operations and increase efficiency. Additionally, the increasing importance of data-driven decision making in today's business environment has led to greater demand for Business Intelligence Software.

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.

Imagine a world without the apps you use daily, the games you enjoy, or the websites you rely on. Software development is the invisible hand behind this digital magic, transforming ideas into the tools that shape our lives. Software development is the process of creating, designing, deploying, and supporting software. It includes all the computer activities between the software's conception and final manifestation.

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.