Business Intelligence Market Worth Over $10 Billion

The global business intelligence and analytical software market grew by 13.5 percent in 2010 to break the $10 billion barrier, Gartner has reported.

According to new metrics released by the market research firm Gartner, growth in the BI and analytical software market was led by SAP, Oracle and Microsoft as the economic recovery fueled IT purchases.

In 2010, SAP increased its global BI and analytics software market share by 16.8 percent to 22.9 percent, followed by rival Oracle with 15.6 percent, an increase of 21.9 percent. Microsoft had 8.7 percent market share, a 23.6 percent increase, Gartner revealed.

Gartner said that SAP, Oracle, IBM and Microsoft dominated more than sixty percent of the BI market.

“BI spending has far surpassed IT budget growth overall for several years, and it is clear that BI continues to be a technology at the center of information-driven initiatives in organizations,” Gartner analyst Dan Sommer said in a statement.

“Vendors aggressively market their capabilities in this area, so revenue growth is as much a function of vendor push as demand pull,” he added.

This increase in IT spending is in line with strong first quarter earnings throughout much of the IT industry and strong year-on-year revenue growth.