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Business Intelligence Software - Southern Asia

Southern Asia

Revenue in the Business Intelligence Software market is projected to reach US$0.48bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 12.17%, resulting in a market volume of US$0.76bn by 2028.
The average Spend per Employee in the Business Intelligence Software market is projected to reach US$0.67 in 2024.
In global comparison, most revenue will be generated in the United States (US$13,790.00m in 2024).

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

Market

Region

Region comparison

Currency

Analyst Opinion

The demand for Business Intelligence Software in Southern Asia has been increasing steadily over the years.

Customer preferences: Customers in Southern Asia are increasingly looking for Business Intelligence Software that can provide them with real-time data analysis and insights. They are also seeking software that can be customized to their specific needs and can integrate with other software applications. Additionally, there is a growing demand for cloud-based Business Intelligence Software in the region.

Trends in the market: India is currently the largest market for Business Intelligence Software in Southern Asia. The market is being driven by the increasing adoption of advanced analytics, big data, and cloud-based solutions. The retail and e-commerce industries are among the major users of Business Intelligence Software in the country. In Pakistan, the market for Business Intelligence Software is also growing, driven by the increasing use of data analytics in the banking and financial services sector. Sri Lanka is experiencing a significant increase in the adoption of Business Intelligence Software, particularly in the healthcare sector.

Local special circumstances: One of the major challenges faced by the Business Intelligence Software market in Southern Asia is the lack of skilled professionals who can effectively use the software. Additionally, there is a need for more affordable solutions that can cater to small and medium-sized businesses in the region.

Underlying macroeconomic factors: The growth of the Business Intelligence Software market in Southern Asia can be attributed to the region's growing economy, increasing investments in technology, and the adoption of digital transformation by businesses. The rise of e-commerce and the increasing use of smartphones have also contributed to the growth of the market. Furthermore, the COVID-19 pandemic has accelerated the adoption of digital technologies, including Business Intelligence Software, as businesses seek to adapt to the changing business environment.

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.