Market Insights Technology Software Enterprise Software

Business Intelligence Software - Croatia

Croatia

Revenue in the Business Intelligence Software market is projected to reach US$12.22m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 5.38%, resulting in a market volume of US$15.07m by 2028.
The average Spend per Employee in the Business Intelligence Software market is projected to reach US$7.09 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

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Currency

Analyst Opinion

The demand for Business Intelligence (BI) software has been steadily increasing in Croatia, driven by the need for businesses to make data-driven decisions and gain a competitive edge in the market.

Customer preferences: Croatian businesses are increasingly looking for BI software that can provide real-time data analysis, predictive analytics, and data visualizations. They also prefer software that is user-friendly, customizable, and can integrate with other business applications. Cloud-based BI solutions are also becoming more popular due to their flexibility and cost-effectiveness.

Trends in the market: One of the major trends in the Croatian BI software market is the adoption of self-service BI tools. These tools allow business users to access and analyze data without the need for IT support. Another trend is the use of AI and machine learning in BI software, which can help businesses gain insights from large datasets and make more accurate predictions. Additionally, there is a growing demand for mobile BI solutions, as more employees work remotely and need access to data on-the-go.

Local special circumstances: The Croatian market is relatively small, with a limited number of BI software vendors. This has led to increased competition among vendors, with many offering specialized solutions for specific industries or business functions. The country's membership in the European Union has also made it easier for Croatian businesses to adopt international BI software solutions.

Underlying macroeconomic factors: Croatia has seen steady economic growth in recent years, with a focus on developing its technology and innovation sectors. This has led to increased investment in IT infrastructure and a growing demand for BI software. Additionally, the COVID-19 pandemic has accelerated the adoption of BI software, as businesses seek to navigate the rapidly changing business environment and make data-driven decisions.

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.