IDC tracker research on the Business Intelligence (BI) and Business Performance Management/Financial Analytics (BPM) market estimated that the Asia/Pacific excluding Japan (APEJ) size for 2005 was nearly US$340 million. This represented a healthy annual growth rate of 22.5%. The market is expected to remain on the fast growth track with a 5-year CAGR of 13.5%, reaching US$639 million by 2010.
“The early adopters of BI and BPM software were those with the largest amounts of data, have a relatively mature deployment of enterprise applications, and require increasingly real-time insight on their business operations. The need for industry compliance, as well as increased global competition, also pressured such companies to invest in software that provides better insight into a company operations, and that supports decision making,” says Sharon Tan, Senior Market Analyst, Asia/Pacific Application Tools Software Research, IDC Asia/Pacific.
In 2005, the Singapore BI and BPM market was valued at US$19.54 million and is anticipated to enjoy a 5-year CAGR of 12.7%. On the other hand, the Hong Kong market was estimated at US$16.43 million in 2005 and predicted to breach the US$25 million dollar mark before the end of the decade.
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