Worldwide business intelligence (BI) platform, analytic applications and performance management (PM) software revenue in 2011 increased by 16.4% percent compared to 2010 revenue of $10.5bn to reach $12.2bn, according to Gartner.
This segment was the second-fastest growing sector in the overall worldwide enterprise software market in 2011.
Gartner principal analyst Dan Sommer said BI, analytics and PM have been identified as one way to filter vast and growing amounts of information to reach insights and decisions in the digitised world, which is transforming industry after industry.
"The strong growth was driven by two major forces. The first is that IT continues to spend and earmark money to BI, despite constrained budgetary environments. Second, new buying centers are opening and expanding outside of IT, in line-of-business initiatives, and taking an increasingly large stake of the spending pie. Key drivers for this are self-service data discovery tools, the race among vendors to provide business context through packaged analytics, and CFOs taking a renewed interest in BI and Performance Management," said Sommer.
The top five vendors continue to retain a hold over the market, said the research firm.
But, Gartner sees more than 100 innovative vendors vying for larger piece of the pie in this segment.
SAP retained the No. 1 vendor status in combined worldwide BI, analytics and PM software revenue in 2011, accounting for 24% of the market share, followed by Oracle, SAS Institute, IBM and Microsoft.
