Worldwide BI market to reach $10.8bn in 2011

India business intelligence (BI) software market revenue is expected to reach $65.4m in 2011, up 15.7% over 2010, while the worldwide BI software market revenue is expected to grow 9.7% to reach $10.8bn in 2011, according to new report by Gartner.

According to the report BI ranked number five on the list of the top ten technology priorities in 2011.

The research firm said that the market for BI platforms will remain one of the fastest growing software markets despite sluggish economic growth in most regions, as organisations continue to turn to BI as a vital tool for smarter, agile and efficient business.

In addition, the report identified three demand-side factors that continue to expand use and drive BI platform revenue growth: consumerisation of BI; support for extreme data performance and emerging data sources; and BI as a decision platform.

Gartner research director Bhavish Sood said it's a sign of the strategic importance of BI that investment remains strong.

"This market segment has remained strong because the dominant vendors continued to put BI, analytics and performance management at the centre of their messaging, while end-user organisations largely continued their BI projects, hoping that resulting transparency and insight will enable them to cut costs and improve productivity and agility down the line," Sood said.