Despite Speed Bump, Worldwide Business Intelligence Software Revenues Expected to Reach $12 Billion by 2005, IDC Forecasts
FRAMINGHAM, MA – JUNE 13, 2001 – The business intelligence tools (BIT) market is expected to continue its healthy growth following a temporary slowdown over 2000 and 2001. According to IDC, BIT revenues will increase at a compound annual growth rate (CAGR) of 27%, from $3.6 billion in 2000 to $11.9 billion in 2005.
"The demand for business intelligence tools remains strong despite lower-than-expected growth in 2000 and the first part of 2001 caused by economic concerns, delayed software purchases, and the trend toward smaller contract sizes," said Dan Vesset, senior analyst for IDC’s Data Warehousing and Information Access program. "Beyond 2002, growth in this market segment will steadily climb as demand for tracking, analyzing, and disseminating enterprise information increases in parallel with growth in customer relationship and supply chain management applications."
According to IDC, end-user query and reporting and online analytical processing (OLAP) will perpetuate growth in the BIT software market. Revenues from these two segments will increase at 2000-2005 CAGRs of 30% and 22%, respectively. In terms of market share, end-user query and reporting will capture 52% of BIT software revenues in 2005, and OLAP will fetch 27%.
IDC’s report Information Access Tools Market Forecast and Analysis, 2001-2005 (IDC #B24779) analyzes the information access tools market. It covers two market segments: business intelligence tools and other information access tools. The report identifies and discusses the following segments within the BIT market: end-user query and reporting, online analytical processing, data mining, packaged data marts, and executive information systems. Revenue forecasts are provided by region and operating environment through 2005. Key trends are also discussed.
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IDC delivers dependable, high-impact insights and advice on the future of ebusiness, the Internet, and technology to help organizations make sound business decisions. IDC forecasts worldwide markets and trends and analyzes business strategies, technologies, and vendors, using a combination of rigorous primary research and in-depth competitive analysis. IDC provides global research with local content through more than 700 analysts in 43 countries worldwide. IDC's customers comprise the world's leading IT suppliers, IT organizations, ebusiness companies, and the financial community. Additional information can be found at http://www.idc.com.
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