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BI spending to grow by 11% in 2008

Posted in Business Intelligence, Gartner by Pankaj Gudimella on April 1, 2008

From Gartner press release

The worldwide market for BI platforms is forecast to reach $5.8 billon in 2008, an 11.2 percent increase from 2007. Worldwide BI platform revenue is forecast to grow at a compound annual growth rate (CAGR) of 8.1 percent through 2012, to reach $7.7 billion in 2012. Gartner analysts expect BI platform revenue to be less affected by an economic downturn than some other technologies because of the high priority BI platforms hold with CIOs. BI was the No. 1 technology priority in 2008 in a worldwide survey of 1,500 CIOs by Gartner Executive Programs.

Gartner analysts discussed the outlook for the BI market at the Gartner Business Intelligence Summit, which is taking place here through April 3.

“The fact that BI has held the top spot with CIOs in this survey for three years running makes us believe that BI will be more resilient against the effects of a possible downturn in IT spending than some other technologies,” said Dan Sommer, senior research analyst for Gartner. “Furthermore, the survey indicates that CIOs are looking to increase their budgets for BI by about 11 percent this year.”

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