A report from IT industry analyst IDC claimed that the sector will expand three times faster than the average for the overall business analytics software market, which may lead to an increase in IT jobs.
The organisation suggested that the SaaS business analytics market will experience a compound annual growth rate of 22.4 per cent through to 2013 as an increasing number of companies start to appreciate the benefits the technology can provide.
Brian McDonough, research manager for IDC's business analytics solutions research service, said: 'The business analytics SaaS market is poised for rapid growth as more organisations turn to cloud-based computing and alternative deployment options.'
In addition, the group said that providers will meet the anticipated rise in demand by offering more business analytics software solutions which can be purchased on a subscription basis.
Recently, a survey by Easynet Connect discovered that more small companies are planning to use cloud computing in the coming 12 months.
The organisation suggested that the SaaS business analytics market will experience a compound annual growth rate of 22.4 per cent through to 2013 as an increasing number of companies start to appreciate the benefits the technology can provide.
Brian McDonough, research manager for IDC's business analytics solutions research service, said: 'The business analytics SaaS market is poised for rapid growth as more organisations turn to cloud-based computing and alternative deployment options.'
In addition, the group said that providers will meet the anticipated rise in demand by offering more business analytics software solutions which can be purchased on a subscription basis.
Recently, a survey by Easynet Connect discovered that more small companies are planning to use cloud computing in the coming 12 months.
