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Business Intelligence Software - Europe

Europe

In 2024, the projected revenue in the Business Intelligence Software market in Europe is expected to reach US$6.29bn.
This market segment is anticipated to display a compound annual growth rate (CAGR 2024-2029) of 6.01%, resulting in a market volume of US$8.42bn by 2029.
Furthermore, the average Spend per Employee in the Business Intelligence Software market in Europe is estimated to reach US$15.05 in 2024.
In a global context, United States is expected to generate the highest revenue, reaching US$13,960.00m in 2024.
In Germany, the market for Business Intelligence Software is experiencing strong growth driven by the increasing demand for data-driven decision-making in companies.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The demand for Business Intelligence Software (BI) in Europe has been on a steady rise in recent years, with an increasing number of companies adopting BI solutions to improve their decision-making processes and gain a competitive edge in the market.

Customer preferences: Customers in Europe are increasingly looking for BI software that is flexible, easy to use, and can be customized to fit their specific business needs. They also prefer cloud-based solutions that offer real-time data analysis and visualization capabilities, as well as mobile accessibility.

Trends in the market: In the United Kingdom, the BI market has been growing rapidly, driven by the increasing adoption of cloud-based solutions and the growing popularity of self-service analytics. Germany, on the other hand, has a strong market for on-premise BI solutions, with companies preferring to keep their data in-house. In France, there is a growing trend towards embedded BI, where analytics are integrated into other software applications, making it easier for users to access and analyze data.

Local special circumstances: In Italy, the BI market has been growing steadily, with a focus on solutions that can help companies comply with regulatory requirements. The market in Spain has been driven by the increasing demand for data visualization and predictive analytics tools. Meanwhile, the Nordic countries have a strong focus on sustainability and are looking for BI solutions that can help them measure and reduce their carbon footprint.

Underlying macroeconomic factors: The growth of the BI market in Europe can be attributed to several macroeconomic factors, including the increasing availability of data, the growing importance of data-driven decision making, and the need for companies to stay competitive in an increasingly globalized market. Additionally, the rise of the digital economy and the increasing adoption of emerging technologies such as artificial intelligence and machine learning are driving the demand for more advanced BI solutions.

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.