San Jose, Calif., June 28, 1999 The business intelligence (BI) market has benefited as more IT managers look to purchase packaged software solutions rather than make their own. Worldwide BI applications revenue reached $602.3 million in 1998, an increase of 42 percent over 1997, according to Dataquest, Inc., a unit of GarterGroup, Inc. The market is expected to continue experiencing strong growth, as the worldwide BI applications market is predicted to reach $3.2 billion in 2003.
Because this market is relatively young, many small companies are participating in the BI applications marketplace. Dataquest analysts said larger vendors will begin to make a presence because of the tremendous potential for growth. "There is a shake-up coming as the market begins to mature, with bigger players joining the fray. Established enterprise applications vendors, BI tools vendors, as well as database and data warehousing vendors, are all eyeing this market," said Jose Sta. Ana, senior industry analyst for Dataquest’s Database and Data Warehousing Worldwide program.
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