Market Insights Technology Software Enterprise Software

Business Intelligence Software - Finland

Finland

Revenue in the Business Intelligence Software market is projected to reach US$131.30m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 3.69%, resulting in a market volume of US$151.80m by 2028.
The average Spend per Employee in the Business Intelligence Software market is projected to reach US$47.85 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

The popularity of Business Intelligence Software (BI) in Finland has been on the rise in recent years.

Customer preferences: Finnish companies have shown a growing interest in BI software as they seek to improve their decision-making processes. The software's ability to analyze large amounts of data and provide insights into customer behavior, market trends, and business operations is highly valued by Finnish businesses. Additionally, the demand for cloud-based BI solutions has increased as companies look to reduce their IT costs and improve flexibility.

Trends in the market: One trend in the Finnish BI market is the increasing use of self-service BI tools. These tools allow business users to access and analyze data without the need for IT assistance, enabling faster and more efficient decision-making. Another trend is the integration of BI software with other business applications, such as CRM and ERP systems. This integration enables companies to gain a more comprehensive view of their operations and make more informed decisions.

Local special circumstances: Finland's strong focus on technology and innovation has contributed to the growth of the BI market. The country has a highly skilled workforce and a strong startup ecosystem, which has led to the development of innovative BI solutions. Additionally, the Finnish government has invested heavily in digital infrastructure, making it easier for companies to adopt and use BI software.

Underlying macroeconomic factors: Finland's economy has been steadily growing in recent years, which has contributed to the growth of the BI market. The country has a strong technology sector, which has been a driver of economic growth. Additionally, Finland has a high level of internet penetration, which has made it easier for businesses to adopt and use BI software. Finally, the country's focus on sustainability and environmentalism has led to the development of BI solutions that help companies reduce their carbon footprint and operate more sustainably.

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.