Business Intelligence Tools Global Market Expected to Reach $7.5 Billion in 2010
The worldwide market for business intelligence tools, including end-user query, reporting and analysis, is expected to grow to some $7.5 billion in 2010, according to researcher International Data Corp.
IDC said that software revenue for the segment grew nearly 14 percent to $3.9 billion in the first six months of this year when compared to the same period last year.
End-user query, reporting and analysis accounted for nearly 80 percent of software revenues for the segment during the first half of this year, the researcher said.
IDC said that SAP is the BI tools global market leader with a 21.3 percent share, followed by SAS, IBM, Oracle and Microstrategy.
IDC is forecasting that over the next five years the BI tools market in Latin America will grow at 14 percent annually, while in North America, Japan and other geographic regions growth is expected at about 5 percent per year.
India showed explosive growth in the market in the first half of 2010 with a 44 percent increase in vendor revenues to $23.6 million.
"After three decades, business intelligence tools are finally entering the mainstream market," said Dan Vesset, IDC program vice president, business analytics solutions.
"Over the next decade the growing awareness of the benefits of BI tools to support decision-making processes will drive demand for ad-hoc query, multidimensional analysis, operational reporting, statistical analysis and data mining tools offered by large IT providers and a new set of specialty BI tool vendors," he said.
IDC said that the market's growth potential has prompted it to begin tracking on a semiannual basis. The researcher said it will cover the BI tools segment in five regions of the world and 13 large country markets. It plans to size the market biannually and provide vendor share and forecast data for the end-user query, reporting, analysis and advanced analytics software segments.
The researcher said that it will measure the size of the BI tools market by total software revenue, including license, maintenance, SaaS and other subscription revenue.