Indian Business Intelligence and Analytics Software Revenue to reach $150 million in 2015: Gartner
BI platforms lead the BI software market in India with its revenue growth to be recorded at a 10.2% increase and is forecast to reach $92.7 billion in 2015. The growth rate of Analytic Applications and Performance is 16% which is the highest compared to the last year's revenues.
According to Gartner Inc., Indian Business Intelligence (BI) software revenue is forecast to reach the mark of $150 million in 2015. The BI platforms will witness a 15% increase in the revenue which stood at $133.8 million last year.
Revenues for BI platforms, advanced analytics, analytic applications and corporate performance management (CPM) software include this forecast.
Issues facing the business analytics and information management market were the key matters examined by the Gartner analysts on Tuesday during the Gartner Business Intelligence and Information management summit.
BI platforms lead the BI software market in India with its revenue growth to be recorded at a 10.2% increase and is forecast to reach $92.7 billion in 2015. The growth rate of Analytic Applications and Performance is 16% which is the highest compared to the last year's revenues.
Advanced Analytics revenue which was $8.1 million in 2014 is $9.3 million now. This is not all.
Even the CPM Suits sector has seen 14.9% growth in its revenues from last year, according to Gartner Inc.'s forecast.
According to the report by Gartner, many business departments are being influenced to buy analytics and now more than half of the employees in many organizations have access to BI.
Bhavish Sood, Research Director, Gartner said, “The BI and analytics market is undergoing significant change.”
He further added that the market has been disrupted by the development of mobile, information, cloud and social media technologies and shifted it towards selfservice.
According to Sood, there is an increase in the importance of BI in India because senior executives are in a troll to explore different style of analytics which in turn will essentially help resolve their business.
“There is an increased emphasis on metrics management and the growing use of performance management. Early big data use cases have started emerging and have executive visibility,” said
Sood and further added that this has led to more investments in BI and information management.
The relentless move to the cloud and softwareasaservice (SaaS) and the widening of access to analytics are the two major trends that are shaping the BI and analytics market, according to the Gartner report.
World's leading information technology research and advisory company, Gartner also reports that the Indian enterprises who adopt BI have the advantage of having the benefit from earlier adopters in developed markets.
The company stated that enterprises should evaluate data discovery, geospatial and mobile based approaches in order to increase BI adoption.