Infotech Lead India: Indian business intelligence (BI) software revenue is likely to touch $101.5 million in 2012, up 17.53 percent from $86.4 million in 2011.
Gartner’s forecast includes revenue for BI platforms, analytic applications and corporate performance management (CPM) software.
“During the next 10 years, the explosion of information will be the biggest opportunity for BI, and also its biggest challenge,” said Bhavish Sood, research director at Gartner. “The extreme volume, velocity and variety of data will add stress to current approaches to BI and are increasingly capturing the attention of both the BI industry and buyers.”
Gartner predicted that BI will remain one of the fastest growing software markets, despite sluggish economic growth in some regions, as organizations continue to turn to BI as a vital tool for smarter, more agile and efficient business.
India BI Software Software Forecast 2012-2016 (in millions of $)
|Analytic Applications and Performance Management||12.4||14.2||16.8||19.9||23.5||27.8|
|Total Sum of Revenue||86.4||101.5||116.9||134.5||154.4||177.1|
|Total Growth ( percent)||26.6||17.5||15.2||15.1||14.8||14.7|
Gartner (September 2012)
Gartner said many organizations are still focused on foundational BI concepts that revolve around strategy, skills, competencies and process. There are also organizations looking for more advanced analytics capabilities to build on those foundations.
The maturity of Indian enterprises varies from excel spreadsheet-based analysis to sophisticated digital media analytics done for TV shows such as Satyamev Jayate.