The size of the business intelligence (BI) software market in India will be $213.8 million (+18.6 percent) in 2016 from $180.2 million in 2015, according to Gartner.
This forecast includes revenue for BI platforms, advanced analytics platforms, analytic applications and corporate performance management (CPM) software.
Bhavish Sood, research director at Gartner, said: “The BI and analytics market is undergoing change. Adoption of machine learning techniques, and the emergence of smart data discovery solutions are fueling next round of investments.”
BI platforms revenue is forecast to reach $136.8 million in 2016. All segments of the BI software market in India are expected to experience double-digit growth in the next 2 years.
There are signs of the emerging importance of BI in India as senior executives are exploring the different styles of analytics to resolve their business imperatives.
“There is an increased emphasis on metrics management and the 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,” said Bhavish Sood.
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.