Singapore’s business intelligence (BI) software market in Singapore is expected to grow 8.4 per cent by the end of 2011, bringing the market size to US$32 mil if the global economy continues to recover, according to IDC.

It said that The BI software market in the APEC region excluding Japan is forecast to grow 20.5 per cent in2010, as compared to a modest 3 per cent growth last year.

Major industry segments for BI tend to be those that are data intensive such banking and telecommunications. Compliance and regulatory related pressures also tend to drive adoption for increased productivity, on top of competitive monitoring reasons.

IDC said that the outlook is cautiously promising as there are early signs that the BI market (e.g CRM analytics)  in Singapore is gaining pace.

Major providers in Singapore include IBM, Microsoft, Oracle, SAP and SAS. Cost is  still the decision-making factor when it comes to software implementation in Singapore. Tactical, bite-sized BI projects with visible, and shorter payback periods are well-received options.

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