IDC: Future Bright for Business Analytics SaaS Market

Over the next five years, the business analytics software-as-a service (SaaS) market will grow more than three times as fast as the total business analytics software market with a compound annual growth rate (CAGR) of 22.4 percent through 2013. That's according to a new study from IDC that finds that the number of business analytics SaaS users will grow rapidly from a small base. Market revenue, however, will remain low relative to on-premise software throughout the forecast period.

"The business analytics SaaS market is poised for rapid growth as more organizations turn to cloud-based computing and alternative deployment options," said Brian McDonough, research manager for IDC's Business Analytics Solutions research service. "Growth expectations must be tempered as revenue generation gains traction behind user adoption."

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The report Worldwide Business Analytics Software as a Service 2009-2013 Forecast
is available for purchase from IDC site.