Over $4bn in revenues were generated by the global business intelligence (BI) tools market in the second half of 2010 (2H10), according to the International Data Corporation (IDC) Worldwide Semiannual Business Intelligence Tools Tracker.
For the full year 2010, the BI tools market grew 12.7% year over year, adding $893m in global revenues over the previous year, the tracker said.
IDC program vice president of Business Analytics Dan Vesset said to continue growing in the BI tools market, vendors need to align their technology packaging and pricing with the growing preference among end-users for departmental and incremental projects and subscription pricing.
"Although the latter still represents only a small portion of the BI tools market, SaaS or cloud BI offerings are growing three times faster than the rest of the market," Vesset said.
The top 2 BI tools vendors for the full year were SAP and IBM, both accounting for more than $1bn each in software revenue during 2010.
The top 10 vendors accounted for 72% of the overall market in 2010, with four vendors - MicroStrategy, Oracle, Panorama Software, and QlikTech - outperforming the market in terms of year-over-year growth, the tracker said.