Business Intelligence Market to Pass $13 Billion in 2013: Gartner
The emerging data-as-a-service trend could significantly grow the market for BI and analytics platforms, according to Gartner's report.The business intelligence (BI) software market will reach $13.8 billion in revenue worldwide in 2013, up 7 percent from last year, and is projected to climb to just over $17 billion by 2016, according to a report by IT research firm Gartner. However, compared with 2011 growth of 16 percent, 2013 and the coming years are expected to be slower, with growth in the high single digits. The report cautioned growth would be hampered by sluggish macro indicators, as well as by slowing sales cycles of multimillion-dollar, end-to-end BI deals. Enabled by Gartner’s “Nexus of Forces” (cloud computing, mobile technology, social media and information), CIO appetite for BI will be complemented by more tactical buying in business units for departmental and workgroup analysis, as well as for personal BI, the report said. "BI and analytics have grown to become the fourth-largest application software segment as end users continue to prioritize BI and information-centric projects and spending to improve decision making and analysis," Gartner principal research analyst Dan Sommer said in a statement. "As more and more information is generated, business models need reinvention, and it's increasingly clear that mastering analytics on big data will be a key driver for the next economic cycle."