Key regions: Germany, United States, Canada, South Korea, United Kingdom
Business Intelligence Software is a rapidly growing market in Vietnam, with companies increasingly realizing the value of data-driven decision making.
Customer preferences: Vietnamese companies are looking for Business Intelligence Software that can provide them with insights into their operations and customers, allowing them to make informed decisions. They are particularly interested in software that can integrate with their existing systems and provide real-time data visualization.
Trends in the market: One of the major trends in the Vietnamese Business Intelligence Software market is the increasing adoption of cloud-based solutions. This is driven by the need for scalable and flexible solutions that can be accessed from anywhere. Another trend is the growing popularity of self-service analytics, which allows users to create their own reports and dashboards without relying on IT support. Finally, there is a trend towards the use of artificial intelligence and machine learning to provide more advanced insights and predictions.
Local special circumstances: Vietnam is a rapidly developing country with a growing economy and a young, tech-savvy population. This has created a fertile ground for the growth of the Business Intelligence Software market, as companies look to gain a competitive edge in a rapidly changing business environment. However, there are also challenges, such as a lack of skilled data professionals and a fragmented market with many small and medium-sized enterprises.
Underlying macroeconomic factors: Vietnam's economy has been growing rapidly in recent years, driven by a combination of factors including foreign investment, a growing middle class, and a young and educated workforce. This has created a favorable environment for the growth of the Business Intelligence Software market, as companies look to gain insights into their operations and customers in order to stay competitive. Additionally, the Vietnamese government has been actively promoting the development of the technology sector, which has further fueled the growth of the market.
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.
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Mon - Fri, 10:00am - 6:00pm (JST)
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Mon - Fri, 9am - 6pm (EST)
