Business Intelligence Software - Saudi Arabia

The Business Intelligence Software market in Saudi Arabia is expected to see a significant increase in revenue, reaching a projected amount of US$56.54m in 2024.
This growth is anticipated to continue with an annual growth rate (CAGR 2024-2029) of 3.86%, resulting in a market volume of US$68.32m by 2029.
Furthermore, the average Spend per Employee in the Business Intelligence Software market is estimated to reach US$3.42 in 2024.
It is worth noting that in comparison to global markets, United States is expected to generate the highest revenue, with an estimated amount of US$13.96bn in 2024.
Saudi Arabia is experiencing a growing demand for Business Intelligence Software, as companies seek to enhance 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 Business Intelligence Software market in Saudi Arabia has been experiencing significant growth over the past few years.

Customer preferences: Saudi Arabian companies have been increasingly adopting Business Intelligence Software to improve their decision-making processes and gain a competitive edge in the market. The software is being used for various purposes such as data analysis, reporting, and forecasting. Companies are also showing a growing interest in cloud-based Business Intelligence Software solutions due to their flexibility and scalability.

Trends in the market: One of the major trends in the Business Intelligence Software market in Saudi Arabia is the increasing demand for self-service analytics tools. These tools allow users to access and analyze data without the need for IT support, which is particularly important for small and medium-sized enterprises (SMEs) that may not have dedicated IT departments. Another trend is the growing use of artificial intelligence (AI) and machine learning (ML) in Business Intelligence Software. These technologies enable companies to automate data analysis and gain insights faster and more accurately.

Local special circumstances: The Saudi Arabian government has been investing heavily in digital transformation initiatives, which has created a favorable environment for the growth of the Business Intelligence Software market. Additionally, the country's Vision 2030 plan aims to diversify the economy and reduce dependence on oil, which has led to a greater focus on data-driven decision-making across various sectors.

Underlying macroeconomic factors: Saudi Arabia's economy is heavily dependent on oil exports, which has made it vulnerable to fluctuations in oil prices. However, the government's efforts to diversify the economy have led to increased investment in non-oil sectors such as healthcare, education, and tourism. This has created new opportunities for Business Intelligence Software vendors to cater to the needs of these industries. The country's young and tech-savvy population is also a driving force behind the growth of the Business Intelligence Software market, as they are more likely to embrace new technologies and demand data-driven decision-making processes.

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.