Business Intelligence Software - Southern Asia

The projected revenue in the Business Intelligence Software market for Southern Asia is expected to reach US$497.40m in 2024.
Furthermore, an annual growth rate (CAGR 2024-2029) of 11.32% is anticipated, resulting in a market volume of US$850.40m by 2029.
It is also projected that the average Spend per Employee in the Business Intelligence Software market will reach US$0.69 in 2024.
In a global comparison, United States is expected to generate the highest revenue, reaching US$13.96bn in 2024.
In Southern Asia, the demand for Business Intelligence Software is on the rise 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 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.

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.