Siebel Systems, Inc. announced that based on its 2002 results and market estimates, Siebel Systems is now the number one provider of customer analytic applications. The Siebel Analytics 7 product, introduced in late 2001, has become the company's third-largest product line, with more than 200 new customers and total revenues of $157 million in 2002, representing revenue growth of more than 230 percent compared to 2001.
Siebel Systems saw the opportunity in 2001 to expand its industry-leading family of integrated sales, service and marketing applications to include a new suite of products for analyzing customer and business data. Representing a large and rapidly growing market opportunity, these analytic applications enable organizations to transform customer and business data into insight that supports stronger, more profitable customer relationships and smarter business decisions.
According to analyst estimates, the worldwide market for packaged and custom-built customer analytic applications is expected to grow from $2.6 billion in 2001 to more than $4.7 billion in 2006, a compound annual growth rate of over 15 percent.
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