Business Intelligence Software - Spain

In 2024, the revenue in the Business Intelligence Software market in Spain is projected to reach US$187.50m.
It is anticipated that there will be an annual growth rate (CAGR 2024-2029) of 5.05%, leading to a market volume of US$240.00m by 2029.
Additionally, the average Spend per Employee in the Business Intelligence Software market in Spain is expected to reach US$7.64 in 2024.
When compared globally, United States is projected to generate the highest revenue of US$13.96bn in 2024.
Spain's growing demand for Business Intelligence Software is driven by the need for data-driven decision-making in its competitive 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 (BI) in Spain has been on the rise in recent years. The BI market in Spain has witnessed significant growth, which can be attributed to various factors.

Customer preferences: The demand for BI software in Spain is driven by the need for data-driven decision-making. Businesses across different sectors are increasingly relying on data to make informed decisions. BI software provides businesses with real-time insights into their operations, which helps them identify areas for improvement and make data-driven decisions. Additionally, the rise of cloud-based BI solutions has made it easier for businesses to access BI software, which has further fueled the demand.

Trends in the market: One of the key trends in the BI market in Spain is the increasing adoption of cloud-based BI solutions. Cloud-based solutions offer businesses greater flexibility and scalability, which is particularly important for small and medium-sized enterprises (SMEs) that may not have the resources to invest in on-premise solutions. Another trend is the growing use of artificial intelligence (AI) and machine learning (ML) in BI software. These technologies enable businesses to analyze vast amounts of data and identify patterns that would be difficult to detect manually.

Local special circumstances: Spain has a large number of SMEs, which make up a significant portion of the economy. These businesses often have limited resources and require cost-effective solutions that can help them compete with larger enterprises. Cloud-based BI solutions have been particularly attractive to these businesses, as they offer a cost-effective way to access advanced analytics capabilities.

Underlying macroeconomic factors: Spain has a relatively strong economy, with a GDP that has been growing steadily in recent years. This has created a favorable environment for businesses, which has, in turn, fueled the demand for BI software. Additionally, Spain has a highly skilled workforce, which has helped to drive innovation in the BI market. Finally, the Spanish government has been supportive of the tech sector, providing tax incentives and other forms of support to encourage innovation and growth.

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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