New Delhi: Fuelled by growth in China and India, the Asia Pacific business intelligence (BI) tools software market is projected to grow at a compounded annual growth rate (CAGR) of 12.3 per cent to touch $417.3 million by 2009, according to an IDC study.

The BI tools software market was valued at $233.2 million in 2004, according to research firm International Data Corporation's (IDC) report on business intelligence market outlook for 2004-2009 in Asia Pacific (excluding Japan).

Much of the growth in the region is expected to come from China and India. The more robust economic conditions in these countries and the increasing application deployments are setting the stage for BI tools adoption in the next five years.

However, IDC expects that Australia — with its matured IT infrastructure and developed economy - would remain the largest market for BI tools software throughout the forecast period.