Business Intelligence Software - South Africa

In 2024, the projected revenue for the Business Intelligence Software market in South Africa is expected to reach US$102.20m.
This market segment is expected to experience an annual growth rate of 4.40% from 2024 to 2029, resulting in a market volume of US$126.70m by 2029.
Furthermore, the average Spend per Employee in the Business Intelligence Software market in South Africa is projected to reach US$4.07 in 2024.
It is worth noting that in a global comparison, United States is expected to generate the highest revenue in this market segment, with an estimated amount of US$13.96bn in 2024.
The adoption of Business Intelligence Software in South Africa is rapidly increasing, driven by the need for data-driven decision making in the country's growing business landscape.

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 South Africa has been on the rise in recent years.

Customer preferences: South African businesses are increasingly looking for software that can provide them with real-time insights into their operations. The ability to make data-driven decisions is becoming more important as companies seek to remain competitive in a rapidly changing business environment. Additionally, businesses are looking for software that is user-friendly and can be easily integrated with their existing systems.

Trends in the market: One of the major trends in the South African Business Intelligence Software market is the increasing adoption of cloud-based solutions. Cloud-based software is becoming more popular as it allows businesses to access their data from anywhere and at any time. Another trend is the growing use of Artificial Intelligence (AI) and Machine Learning (ML) in Business Intelligence Software. These technologies are being used to provide more accurate and insightful data analysis.

Local special circumstances: One of the unique challenges facing the South African Business Intelligence Software market is the country's unreliable electricity supply. Many businesses have had to invest in backup generators to ensure that their operations can continue even during power outages. This has led to a preference for software that is not too resource-intensive and can run on low-power devices.

Underlying macroeconomic factors: The South African economy has been struggling in recent years, with high levels of unemployment and slow economic growth. However, the country's growing middle class and increasing digitalization are providing opportunities for the Business Intelligence Software market. As more businesses look to digital solutions to improve their operations, the demand for Business Intelligence Software is likely to continue to grow. Additionally, the South African government has been investing in infrastructure and promoting entrepreneurship, which is expected to further boost the country's economy and create new opportunities for businesses.

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.