Business Intelligence Tools Going Global
Users driving demand for reporting and pervasive analytics, new research finds.
Insurance Networking News, June 30, 2011
The global business intelligence tools market is on track for consistent solid growth over the next five years, according to new research from IDC.
The second half of 2010 marked the first time the market has surpassed the $4-billion mark in a semiannual period. For the full year 2010, the BI tools market grew 12.7% year over year, adding $893 million in global revenues over the previous year. IDC made note of a growing preference among end users for departmental and incremental projects and subscription pricing. In another pattern found in the research, SaaS or cloud BI offerings are growing three times faster than the rest of the market.
SAP and IBM were the top two BI tools vendors in 2010, capturing more than $1 billion each in software revenue. The top 10 vendors accounted for 72% of the overall market in 2010, with four vendors -- MicroStrategy, Oracle, Panorama, and QlikTech – outperforming the market in term year-over-year growth.
"Business analytics remains one of the top priorities for most organizations and BI tools are one of the key enabling technologies for more pervasive business analytics,” said Dan Vesset, IDC program vice president, business analytics, in the news announcement.
The user query, reporting and analysis functional market enjoyed a stronger growth rate for the year, up 13.7% over 2009. In comparison, the advanced analytics market grew 8.6% year over year in 2010.
IDC's Worldwide Semiannual Business Intelligence Tools Tracker provides total market size and vendor share. Revenue includes license plus maintenance plus SaaS and other subscription revenue in six geographic regions with country-level data for 13 nations.
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