Business Intelligence Software - Portugal

In 2024, the projected revenue in the Business Intelligence Software market in Portugal is expected to reach US$32.55m.
Looking ahead, the market is anticipated to exhibit a compound annual growth rate (CAGR) of 4.65% from 2024 to 2029, resulting in a market volume of US$40.85m by 2029.
Furthermore, it is worth noting that the average Spend per Employee in the Business Intelligence Software market in Portugal is projected to reach US$5.95 in 2024.
In a global comparison, it is interesting to observe that United States is expected to generate the highest revenue in the Business Intelligence Software market, with a projected revenue of US$13.96bn in 2024.
Portugal is experiencing a growing demand for business intelligence software, as companies seek to optimize their data-driven 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 demand for Business Intelligence Software in Portugal has been on the rise in recent years.

Customer preferences: Portuguese businesses have shown a growing interest in Business Intelligence Software due to its ability to provide insights that can help them make informed decisions. The software's ability to analyze and visualize data in real-time has become increasingly important for businesses looking to stay competitive in the market. Additionally, the need to streamline operations and reduce costs has also contributed to the growing demand for Business Intelligence Software.

Trends in the market: One of the key trends in the Business Intelligence Software market in Portugal is the increasing adoption of cloud-based solutions. Cloud-based solutions offer businesses the flexibility to access data from anywhere, at any time, and on any device. This has become particularly important in the wake of the COVID-19 pandemic, which has forced many businesses to adopt remote working practices. Another trend in the market is the growing use of Artificial Intelligence (AI) and Machine Learning (ML) to analyze data. AI and ML have the ability to analyze large volumes of data quickly and accurately, providing businesses with valuable insights that can help them make informed decisions.

Local special circumstances: One of the unique aspects of the Portuguese market is the strong focus on the tourism industry. Portugal is a popular tourist destination, and the tourism industry is a significant contributor to the country's economy. As a result, many businesses in Portugal, particularly in the hospitality and travel sectors, have a strong need for Business Intelligence Software to help them analyze data related to customer preferences, booking patterns, and other key metrics.

Underlying macroeconomic factors: The Portuguese economy has been growing steadily in recent years, which has contributed to the growing demand for Business Intelligence Software. Additionally, the government has been investing heavily in digital infrastructure, which has helped to create a favorable environment for businesses to adopt new technologies such as Business Intelligence Software. Finally, the increasing importance of data-driven decision making has also contributed to the growing demand for Business Intelligence Software in Portugal. As businesses look for ways to stay competitive in the market, the ability to analyze and visualize data has become increasingly important.

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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