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Business Intelligence Software - Belarus

Belarus

Revenue in the Business Intelligence Software market is projected to reach US$30.61m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 8.52%, resulting in a market volume of US$42.45m by 2028.
The average Spend per Employee in the Business Intelligence Software market is projected to reach US$6.41 in 2024.
In global comparison, most revenue will be generated in the United States (US$13,790.00m in 2024).

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

Market

Region

Region comparison

Currency

Analyst Opinion

Belarus, a country located in Eastern Europe, has been experiencing growth in its Business Intelligence Software market in recent years.

Customer preferences: Belarusian companies have been increasingly interested in Business Intelligence Software as a tool to improve their decision-making processes. With the growth of digitalization and the increasing amount of data available, companies have realized the importance of utilizing this data to gain insights into their operations and make informed decisions.

Trends in the market: One trend in the Belarusian Business Intelligence Software market is the adoption of cloud-based solutions. Companies are moving away from on-premise solutions and towards cloud-based solutions due to their flexibility and cost-effectiveness. Additionally, there has been an increase in the use of predictive analytics as companies seek to anticipate future trends and outcomes.

Local special circumstances: Belarus has a strong technology sector, with many software development companies based in the country. This has led to the development of a skilled workforce in the technology industry, which has contributed to the growth of the Business Intelligence Software market. Additionally, the government has been supportive of the technology industry, providing tax incentives and other benefits to companies operating in the sector.

Underlying macroeconomic factors: Belarus has a stable economy, with a GDP growth rate of 1.2% in 2020. The country has a strong manufacturing sector, particularly in the areas of electronics and machinery, which has contributed to the growth of the technology industry. Additionally, Belarus has a strategic location between Europe and Asia, making it an attractive destination for companies looking to expand their operations in the region.

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.