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Business Intelligence Software - Thailand

Thailand

In 2024, the projected revenue of the Business Intelligence Software market in Thailand is expected to reach US$43.41m.
This forecast indicates a positive growth trajectory for the market.
Furthermore, it is estimated that the market will experience a compound annual growth rate (CAGR) of 6.49% from 2024 to 2029.
As a result, the market volume is anticipated to reach US$59.45m by 2029.
This signifies the potential for significant expansion within the industry.
When considering the average Spend per Employee in the Business Intelligence Software market in Thailand, it is projected to reach US$1.08 in 2024.
This metric provides insights into the level of investment made by companies in this sector to enhance their business intelligence capabilities.
In terms of global comparison, it is important to note that United States is expected to generate the highest revenue in the Business Intelligence Software market.
In 2024, the projected revenue for the United States is estimated to be US$13,960.00m.
This highlights the dominance of the United States in this particular market segment.
Overall, the Business Intelligence Software market in Thailand shows promising potential for growth and development.
The projected revenue figures and average Spend per Employee demonstrate the increasing importance of business intelligence tools and technologies in enhancing organizational performance and decision-making processes.
Thailand is experiencing a growing demand for advanced Business Intelligence Software solutions to optimize decision-making processes in the fast-paced software market.

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

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Analyst Opinion

The demand for Business Intelligence (BI) software in Thailand has been on the rise in recent years, driven by the increasing adoption of data-driven decision making by businesses across various sectors.

Customer preferences: Thai businesses are increasingly recognizing the importance of data analytics and BI tools in making informed decisions and gaining a competitive edge. As a result, there is a growing demand for BI software that can provide real-time insights, advanced analytics, and predictive modeling capabilities. Cloud-based BI solutions are also gaining popularity due to their flexibility, scalability, and cost-effectiveness.

Trends in the market: One of the major trends in the BI software market in Thailand is the increasing adoption of self-service BI tools. These tools allow business users to access and analyze data without the need for IT support, enabling faster decision making and greater agility. Another trend is the integration of BI software with other business applications such as CRM and ERP systems, enabling a more holistic view of business performance.

Local special circumstances: Thailand's business landscape is characterized by a large number of small and medium-sized enterprises (SMEs), which account for over 99% of all businesses in the country. These businesses often have limited resources and expertise in data analytics, creating a significant opportunity for BI software vendors to provide easy-to-use and affordable solutions tailored to their needs.

Underlying macroeconomic factors: Thailand's economy has been growing steadily in recent years, driven by strong domestic consumption and increasing exports. This has led to a growing demand for data analytics and BI software across various sectors, including retail, healthcare, finance, and manufacturing. The government's push towards digital transformation and the development of smart cities is also expected to drive the adoption of BI software in the coming years.

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.