IDC Research Finds Worldwide Packaged Analytic Applications Market Will Climb to $6.2 Billion in 2005
FRAMINGHAM, MA – SEPTEMBER 10, 2001 – According to IDC, the worldwide packaged analytic applications market will grow to $6.2 billion in 2005 – a compound annual growth rate (CAGR) of 18.5% from 2000-2005. Of the three categories that make up the analytic applications market – operations and production, customer relationship management (CRM), and financial and business performance management (BPM) – the operations and production category will pass $2.3 billion in revenue by 2005. The CRM category, while smallest, will continue to be the fastest-growing with a CAGR of 27.3%.
"The continued strong growth of analytic applications can be explained by businesses around the world striving to make themselves more efficient," said Robert Blumstein, research director for IDC’s CRM Analytics and Marketing Applications program. "Analytic applications help to reduce costs by telling CEOs and middle management alike what they need to know so that they can market more wisely and swiftly."
IDC believes the Web site analysis applications market is also growing rapidly as organizations increasingly realize the potential for analyzing the vast volumes of Web data as an efficiency tool. "The growth of Web site analysis applications will primarily come from the adoption of the more sophisticated customer relationship management centric Web site analytic applications," said Dan Vesset, senior analyst for IDC’s Data Warehousing and Information Access program.
IDC’s recently published report Analytic Applications Market Forecast and Analysis, 2001-2005 (IDC #25322) presents a high-level view of the overall packaged analytic applications market, revenue forecasts by market segments, market trends, and leading vendors. In addition, IDC’s Web Site Analysis Applications Adoption Trends User-Study, 2001 (IDC #25035) provides survey data on how organizations are optimizing business performance through Web site analysis (WSA).
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IDC delivers dependable, high-impact insights and advice on the future of ebusiness, the Internet, and technology to help organizations make sound business decisions. IDC forecasts worldwide markets and trends and analyzes business strategies, technologies, and vendors, using a combination of rigorous primary research and in-depth competitive analysis. IDC provides global research with local content through more than 700 analysts in 43 countries worldwide. IDC's customers comprise the world's leading IT suppliers, IT organizations, ebusiness companies, and the financial community. Additional information can be found at http://www.idc.com.
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