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Business Intelligence Software - Thailand

Thailand

Revenue in the Business Intelligence Software market is projected to reach US$42.94m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 7.38%, resulting in a market volume of US$57.08m by 2028.
The average Spend per Employee in the Business Intelligence Software market is projected to reach US$1.10 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

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Analyst Opinion

The demand for Business Intelligence (BI) software in Thailand has been on the rise in recent years, driven by the increasing adoption of data-driven decision making by businesses across various sectors.

Customer preferences: Thai businesses are increasingly recognizing the importance of data analytics and BI tools in making informed decisions and gaining a competitive edge. As a result, there is a growing demand for BI software that can provide real-time insights, advanced analytics, and predictive modeling capabilities. Cloud-based BI solutions are also gaining popularity due to their flexibility, scalability, and cost-effectiveness.

Trends in the market: One of the major trends in the BI software market in Thailand is the increasing adoption of self-service BI tools. These tools allow business users to access and analyze data without the need for IT support, enabling faster decision making and greater agility. Another trend is the integration of BI software with other business applications such as CRM and ERP systems, enabling a more holistic view of business performance.

Local special circumstances: Thailand's business landscape is characterized by a large number of small and medium-sized enterprises (SMEs), which account for over 99% of all businesses in the country. These businesses often have limited resources and expertise in data analytics, creating a significant opportunity for BI software vendors to provide easy-to-use and affordable solutions tailored to their needs.

Underlying macroeconomic factors: Thailand's economy has been growing steadily in recent years, driven by strong domestic consumption and increasing exports. This has led to a growing demand for data analytics and BI software across various sectors, including retail, healthcare, finance, and manufacturing. The government's push towards digital transformation and the development of smart cities is also expected to drive the adoption of BI software in the coming years.

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.