DC Foresees the APEJ Business Analytics Software Market to Punch above US$3 Billion by 2013
Despite a backdrop of increasing global volatility, the business analytics (BA) software market in the Asia/Pacific excluding Japan (APEJ) region has grown by 20.1% to be worth US$2,479.1 million in 2011, according to the new IDC Asia/Pacific Semiannual Business Analytics Software Tracker.
The BA software market is expected to slow down but still grow in 2012, followed by a recovery in 2013. Overall, the market is forecasted to grow at a 5-year CAGR of 12.3% to reach US$4,432.7 million in 2016.
"Certain analytic applications such as supply chain analytics applications that can, for example, analyze historical data and identify demand signals to predict demand levels and assist in supply planning, are expected to have strong growth potentials driven by organizations that are seeking to focus on projects that can quickly bring results," says Sharon Tan, Research Manager of IDC's Asia/Pacific Information Management and Analytics Software Research Group.
"The use of in-memory technology will increasingly permeate business analytics software products over the forecast period to boost speed and performance capabilities," she further adds.
From a country perspective:
• Singapore's BA software market in 2011 was valued to be US$149.8 million and is forecasted to have a 12.2% 5-year CAGR.
• Hong Kong's BA software market grew by 18.4% in 2011 and is forecasted to hit above US$100 million in 2012.
• For markets that are worth above US$100 million in 2011, the PRC and India are forecasted to hold the greatest growth potential with 5-year CAGRs of 17.1% and 16.5% respectively.
• Despite stronger growths from emerging countries, IDC expects Australia to remain the largest market for APEJ's business analytics software during the next 5 years and is predicted to breech the US$1 billion dollar mark by 2014.