Business Intelligence Software - Taiwan

The projected revenue in the Business Intelligence Software market for Taiwan is expected to reach US$194.50m in 2024.
Looking ahead, it is anticipated that the market will experience an annual growth rate of 6.04%, resulting in a market volume of US$260.80m by 2029.
Additionally, it is projected that the average Spend per Employee in the Business Intelligence Software market will reach US$7.49 in 2024.
In comparison to other countries, United States is expected to generate the highest revenue, amounting to US$13.96bn in 2024.
The demand for Business Intelligence Software in Taiwan is rapidly increasing, driven by the country's booming tech industry.

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 Taiwan has been on a steady rise in recent years.

Customer preferences: Taiwanese businesses have shown a growing interest in Business Intelligence Software due to its ability to provide valuable insights into their operations. Companies are looking for ways to optimize their processes and maximize efficiency, and Business Intelligence Software offers a solution to this problem. Additionally, the rise of e-commerce and digitalization has created a need for data-driven decision making, further driving the demand for Business Intelligence Software.

Trends in the market: One of the key trends in the Business Intelligence Software market in Taiwan is the shift towards cloud-based solutions. Cloud-based software is becoming increasingly popular due to its scalability, flexibility, and cost-effectiveness. This trend is expected to continue as more businesses in Taiwan adopt cloud-based solutions. Another trend in the market is the increasing use of artificial intelligence and machine learning in Business Intelligence Software. These technologies are being used to automate data analysis and provide more accurate insights.

Local special circumstances: Taiwan has a highly competitive business environment, with many small and medium-sized enterprises (SMEs) operating in the country. These SMEs often have limited resources and face intense competition from larger companies. As a result, they are looking for ways to optimize their operations and gain a competitive edge. Business Intelligence Software offers a solution to this problem by providing valuable insights into their operations and helping them make data-driven decisions.

Underlying macroeconomic factors: Taiwan has a highly developed economy and is known for its advanced technology industry. The country has a strong focus on innovation and is home to many high-tech companies. This focus on innovation has created a demand for Business Intelligence Software as companies look for ways to gain a competitive edge. Additionally, Taiwan has a large and growing e-commerce industry, which has created a need for data-driven decision making. As a result, the demand for Business Intelligence Software is expected to continue to grow in the coming years.

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.

Imagine a world without the apps you use daily, the games you enjoy, or the websites you rely on. Software development is the invisible hand behind this digital magic, transforming ideas into the tools that shape our lives. Software development is the process of creating, designing, deploying, and supporting software. It includes all the computer activities between the software's conception and final manifestation.

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.