BI tools market on high in India; big data, analytics and metric management amongst favorites
Indian business intelligence (BI) software revenue is forecast to reach USD 213.8 million in 2016, an 18.6% increase over 2015 revenue of USD180.2 million, according to Gartner
The BI platforms segment continues to lead the BI software market in India, as BI platforms revenue is forecast to reach USD136.8 million in 2016. All segments of the BI software market in India are expected to experience double-digit growth in the next two years, as per the report.
As per Gartner, the emergence of smart data discovery solutions are fueling next round of BI analytical market investments.
The research found an increased emphasis on metrics management and the growing use of performance management. Big data use cases were also reported to be maturing and have executive visibility.
Purchasing decisions continue to move from IT leaders to line-of-business executives. This is in sharp 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 over developed markets. Rather than needing to build their approaches from the ground up, Indian enterprises are are increasing BI adoption through data discovery, geospatial and mobile based approaches.