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Business Intelligence Software - Southern Africa

Southern Africa

The projected revenue in the Business Intelligence Software market for Southern Africa is estimated to reach US$112.40m in 2024.
It is expected to demonstrate an annual growth rate (CAGR 2024-2029) of 4.58%, leading to a market volume of US$140.60m by 2029.
The anticipated average Spend per Employee in the Business Intelligence Software market is projected to be US$3.88 in 2024.
In comparison to other countries, United States is forecasted to generate the highest revenue of US$13,960.00m in 2024.
Southern Africa is experiencing a growing demand for business intelligence software as companies seek to gain a competitive edge in the region's dynamic business landscape.

Key regions: United States, France, Germany, South Korea, Canada

Market

Region

Region comparison

Currency

Analyst Opinion

The demand for Business Intelligence Software in Southern Africa has been on the rise in recent years.

Customer preferences: Companies in Southern Africa are increasingly investing in Business Intelligence (BI) software to gain insights into their operations and make data-driven decisions. BI software provides real-time data analysis and visualization, allowing companies to identify trends and patterns in their data. The software also enables companies to forecast future trends and make strategic decisions based on data-driven insights.

Trends in the market: South Africa is the largest market for BI software in Southern Africa, followed by Nigeria and Kenya. In South Africa, the demand for BI software is driven by the financial services, retail, and manufacturing sectors. Nigeria's market is driven by the telecommunications, financial services, and oil and gas sectors, while Kenya's market is driven by the financial services, telecommunications, and government sectors.

Local special circumstances: The adoption of BI software in Southern Africa is also driven by the need to comply with regulations and improve governance. For example, South Africa's Protection of Personal Information Act (POPIA) requires companies to protect personal information and ensure that data is processed in a lawful and transparent manner. BI software can help companies comply with these regulations by providing real-time data analysis and visualization.

Underlying macroeconomic factors: The growth of the BI software market in Southern Africa is also driven by the region's economic growth and increasing digitalization. The African Development Bank estimates that the region's economy will grow by 3.4% in 2021, up from -2.1% in 2020. This growth is expected to be driven by increased investment in infrastructure, digitalization, and the green economy. As companies in the region become more digitalized, the demand for BI software is expected to continue to grow.

Methodology

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.