Market Insights Technology Software Enterprise Software

Business Intelligence Software - Belgium

Belgium

Belgium is projected to witness a significant growth in the Business Intelligence Software market, with revenue expected to reach €135.70m by 2024.
This growth is anticipated to continue at an annual growth rate (CAGR 2024-2029) of 3.59%, resulting in a market volume of €161.90m by 2029.
In terms of spending, the average Spend per Employee in the Business Intelligence Software market is projected to reach €25.04 in 2024.
When compared globally, it is worth noting that United States is expected to generate the highest revenue in the Business Intelligence Software market, with an estimated revenue of €12,950.00m in 2024.
Belgium's growing demand for Business Intelligence software is driven by the need for data-driven decision-making in its thriving technology and manufacturing sectors.

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

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Analyst Opinion

The demand for Business Intelligence Software in Belgium has been increasing steadily in recent years, driven by the need for data-driven decision making and the growing importance of analytics in business operations.

Customer preferences: Belgian businesses are increasingly looking for Business Intelligence Software that can provide real-time data analysis and insights. They are also looking for solutions that are easy to use and can integrate with existing systems. Additionally, there is a growing demand for cloud-based solutions that can provide flexibility and scalability.

Trends in the market: One of the key trends in the Belgian Business Intelligence Software market is the increasing adoption of advanced analytics and artificial intelligence. This is driven by the need for more accurate and predictive insights, as well as the growing availability of data and the need to process it more efficiently. Another trend is the growing importance of mobile BI, as businesses seek to access data and insights on the go.

Local special circumstances: Belgium has a highly developed IT infrastructure and a strong culture of innovation, which has helped to drive the growth of the Business Intelligence Software market. Additionally, the country has a highly educated workforce and a large number of small and medium-sized enterprises, which are increasingly looking for solutions to help them compete with larger companies.

Underlying macroeconomic factors: The Belgian economy has been growing steadily in recent years, which has helped to create a favorable environment for the Business Intelligence Software market. Additionally, the country has a highly skilled workforce and a favorable business environment, which has attracted a large number of international companies to set up operations in the country. Finally, the Belgian government has been investing heavily in digital infrastructure and innovation, which has helped to drive the growth of the Business Intelligence Software market.

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.