IT contractors specialising in business analytics software-as-a-service (SaaS) could find new opportunities in the next five years, as the market is predicted to expand with a compound annual growth rate of 22.4 per cent.

Figures published by IDC predict that this sector will grow three times faster than the total business analytics software market.

Brian McDonough, research manager for IDC's business analytics solutions research service, claimed that this will be a major sector in the run-up to 2013.

He said: "The business analytics SaaS market is poised for rapid growth as more organisations turn to cloud-based computing and alternative deployment options."

Mr McDonough added that growth expectations must be tempered due to the traction between revenue generation and user adoption.

IT contractors could increasingly be bought into outsourcing providers due to attempts to boost their innovativeness and to stand out from the crowd, Ovum senior analyst Patrick O'Brien has also suggested.