Indian business intelligence (BI) software revenue is forecast to reach US$ 213.8 million in 2016, a 18.6 percent increase over 2015 revenue of $180.2 million, according to Gartner, Inc. This forecast includes revenue for BI platforms, advanced analytics platforms, analytic applications and corporate performance management (CPM) software.
“The BI and analytics market is undergoing significant change. Adoption of machine learning techniques, and the emergence of smart data discovery solutions are fueling next round of investments,” said Bhavish Sood, research director at Gartner.
The BI platforms segment continues to lead the BI software market in India, as BI platforms revenue is forecast to reach $136.8 million in 2016 (see Table 1). All segments of the BI software market in India are expected to experience double-digit growth in the next 2 years.
Table 1 India BI Software Revenue Forecast Estimates (Millions of Dollars)
|Market Segment||2015 YR||2016 YR|
|Analytic Applications and Performance Management||Revenue||21.1||25.1|
|Advanced Analytics Platforms||Revenue||15.0||18.6|
|Total Growth (%)||18.59%|
Source: Gartner (June 2016)
“We see signs of the emerging importance of BI in India as senior executives are increasingly exploring the different styles of analytics to resolve their business imperatives,” said Mr. Sood. “There is an increased emphasis on metrics management and the growing use of performance management. Big data use cases are maturing and have executive visibility. This is leading to more investments in BI and information management.”
Purchasing decisions continue to move from IT leaders to line-of-business executives and users who want more agility and more flexible personalized options — making the land-and-expand model the new norm. This is in stark contrast to the large, enterprise-scale deals that fueled double-digit growth at a time when IT had larger budgets and wielded much more influence in buying decisions. The primary drivers of new growth in this rapidly evolving market are being influenced by the following dynamics:
- The increased need for governance will serve as the catalyst for renewed IT engagement as business-user-led deployments expand.
- Market awareness and adoption of smart data discovery will extend data discovery to a wider range of users, increasing the reach and impact of analytics.
- Indian enterprises adopting BI have the advantage of benefiting from earlier adopters in developed markets, rather than needing to build their approaches from the ground up. They are increasing BI adoption through data discovery, geospatial and mobile based approaches.
@Technuter.com News Service