Indian business intelligence (BI) software revenue is forecast to reach Rs. 1640 crore in 2017, a 24.4 percent increase over 2016 revenue of Rs. 1380 crore, according to Gartner. This forecast includes revenue for BI platforms (comprising of traditional and modern BI platforms), data science platforms, analytic applications, and CPM suites.
The data and analytics market is undergoing a significant change. Adoption of machine learning techniques for data management and analytics, the settling of hype around big data through more mature data storage, and processing and analysis solutions are a few of the changes. The industry is witnessing a rapid shift to the cloud and hybrid data management through focused offerings, and the emergence of modern BI platforms, smart data discovery, and self-service data preparation solutions, which are all fueling the next round of investments. There is a huge focus on Internet of Things (IoT) data integration, data management, and analytics by Indian companies, particularly in the consumer packaged goods (CPGs) and manufacturing sector, who have determined the lead in the market through competitive differentiation in these key areas.
The BI platforms segment (comprising of modern and traditional BI platforms) continues to lead the BI software market in India. All segments of the BI software market (other than the traditional BI segment) are expected to experience double-digit growth in the next 2 years in India.